Property Investment, is it worth the risk?

Doozergirl

googler wrote: »

I suggest the OP looks at the original production dates of the Property Ladder programmes (the copyright date on the end-credits). Are there any from the last couple of years?

Also, you'll have great difficulty turning over more than two a year, because with the new money-laundering regs, lenders are VERY reluctant to lend on properties which have been owned for less than 6 mths. Unless you sell to cash buyers, you'll find it VERY difficult to sell a house you've owned for 3 or 4 months......

This was raised before and my solicitor said that the lender should be informed by the buyer's solicitor if they notice but that she had not ever had an issue with it.

I've had buyers go straight through, no mortgage issues, no questions, nothing.

If the worst came to the worst, we would have let the property to complete after six months of ownership. It stalls things if there were an issue but I wouldn't look a gift horse in the month, it's entirely likely that it would take six months from completion to completion anyway.

I love what I do. It's first and foremost about the price you purchase at. That is always where profit comes from. Always. Then increasing square footage. And keeping costs reined in.

I'm not concerned in the slightest about whether a house looks like it needs work or not, I'm looking for opportunity to make money. Just because a house needs work it certainly doesn't mean there is profit.

SimonMrGreenWard

Like any business venture, do lots and lots and lots of research. Then do some more.

missile

It is possible to make money as a property developer, but it is hard work.

Are you able to do the work yourself?
Do you have trade contacts?
Do you have experience?
Have you researched the property available in your area?

If no to one, then I would suggest you might struggle to better the return from a fixed rate savings account.

If no to two, then I would suggest you might break even.

If no to three, then I would suggest you are likely to loose money.

Bermuda_John

You can still make very respectable profits in todays market

just liek every other busniess in the world, if you get your purchase price low enought then you will be ok.

What region are you planning on buying in?

edd209_2

Bermuda_John wrote: »

You can still make very respectable profits in todays market

just liek every other busniess in the world, if you get your purchase price low enought then you will be ok.

What region are you planning on buying in?

Hi John,

I live in County Durham and there are lots of properties available for buttons at the moment in this area which is what prompted me to give it consideration.

Bermuda_John

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