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Would anyone think it wise to buy a property now as a renovation project for investme
dantking
Posts: 9 Forumite
I may have the chance of purchasing a knackered two bedroom property and renovating it for investment. Do people think this is a ludicrous idea due to the current market situation or is it feasable?:rolleyes:
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Investment? Property prices are falling, not rising."You were only supposed to blow the bl**dy doors off!!"0
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It's all about 3 figures. The price you pay for it, the amount you spend and the price you sell it for.
You've got to get it at a very low price to guarantee making a profit - and have had a structural surveyor to make sure you're not buying a complete heap.0 -
Thanks. It was in response to two sources the halifax and nationwide. One said they had noticed an increase in sales whilst another noticed a leveling out. just wanted to get in when house prices were at their lowest.0
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Do you have extensive knowledge and skills in the building trade? Will you be giving up a proper job to rennovate or are you going to be a late-nighter?0
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reasonable skill level (just finished platering the bathroom at home!) will be doing it as a late nighter and with my mum and dads help (both very competant!) I know the right property at the right price0
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My local auction houses have lots of properties partly renovated as folks have run out of money.0
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So you're aiming to make a profit using family to assist - always struck me as sad when I saw this on Sarah beeny's show.
And remember neighbours won't like evening building work..0 -
Which makes me think that you could get on the show if she hasn't been put into administration
Nothing to see here :beer:0 -
Thanks. It was in response to two sources the halifax and nationwide. One said they had noticed an increase in sales whilst another noticed a leveling out. just wanted to get in when house prices were at their lowest.
There is a surprise, how unusual to hear that prices are levelling and or increasing coming from the 2 biggest Vested Interest institutions there are who benefit from increasing prices.
LOL get real how many people have 40% + deposits for good mortgage rates.
Yes there might be a few, but tomorrow there will be less.0 -
Cozworth806 wrote: »Which makes me think that you could get on the show if she hasn't been put into administration
Who's in administration?0
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