Career help needed please (property development)?

Question

I know this is fast becoming a saturated market in the UK but it is really something I want to do. I would like to operate a small business renovating larger properties and rebuilding them as being more environmentally friendly and economical.

I am knowledgeable of the environmental side of things but have no clue about building work (although I can decorate OK!). Of course I would be willing to learn and get my hands dirty but, for the moment, I would be best suited to the logistical side of the operation.

How can I get in to the trade- would working on a building site for a while give me an edge? How do I approach the banks? Any help would be very gratefully received- thanks!

Answer 1

Unless you have financial/business acumen don't even attempt to get into property development. If it was that easy, everyone would be doing it. You need alot more than knowledge of the environment and building trades which are obviously very important. A very sharp business mind plus the right contacts.

Note: To the person who gave me thumbs down, your experience might be different, but the content of my answer comes from my experience (and that of many other people I know, including builders). Your opinion is just different.

To the questioner, any kind of practical experience you can get in the building or decorating trade is incredibly useful, but what I'm trying to say is that if you want to PROFIT from the venture, you need to be aware that factors such as location, marketing and financing are crucial. Visit your local business resource centre for advice.

Answer 2

Hi!

I too am suited to the logistical side of this type of operation!

One of the MOST important issues is to get a builder you can trust to do the job properly.

I have a really good builder who never puts a foot wrong, but once he started to employ other blokes to help him - BIG MISTAKE. I had to ring him up and say, "Craig, when I book Craig, it's Craig that I want to do the job - no-one else." We both knew EXACTLY where we stood from then on!

You also need a good decorator - and the finish is ALL important if you're going to sell on. I have a bloke who works for a large local construction company and he decorates for me out of hours. Believe me, no matter how good YOU ARE at decorating etc., you can't beat the finish from a professional. Plus they finish it in a fraction of the time it would take you to do the job.

Also, you need to do your budget and then add ANOTHER 25% on top. This formula has worked for me every time and I've never had any 'surprises' if you know what I mean!

You've also gotta have a lot of fun whilst you do it, otherwise it's poo!!

Best of luck with everything!!

Answer 3

properly before everything you would wish tremendous sums of capital as a thanks to purchase a belongings. except your wealthy you'll opt for a loan from the commercial employer. due on your age you wont be in a position to get one except you've available-free finished time pastime. then you definately will likely opt for to do the belongings as a lot as make it presentable and income from its functional aspects as a thanks to be in a position to promote it on for better than you paid. so that you'll opt for adorning, plumbing, electric powered skills etc. or you may want to fork out even extra funds to pay an electrician, plumber etc to go back and do it for you. plus you may want to pay council tax on the homestead. then you definately promote the belongings on or lease it out. on the mo tho homes are not any more promoting, and that i communicate from journey. the belongings market has crashed......many belongings brokers have closed down thoughout the rustic via homes no longer shifting. people dont have the money with the recession to bypass homestead. at present day homes are more low priced than they have been at present, so it would properly be a fantastic time to purchase. and homestead expenses will likely upward push back over the subsequent few years. you dont opt for any skills to be a belongings developer yet you do opt for sensible skills and also solid expertise of ways the belongings market works. you wouldnt be subsidized to reinforce a house no. yet when your in college possibly you would opt for to bypass into adorning or something like that to achieve the proper skills. although you need to bypass to college and study structure, civil engineering, structure, economics, or a belongings proper degree ( i imagine Bristol Uni - no longer the city one the west of england one, does those yet they're extra finance and funding depending courses) wish this helps