Want to buy to sell my first property but have no money....Help

m00m00

1/10 must try harder

lonestar1

So you want to make money from buying and selling houses right ?

I think this must be the first 'I want to be an estate agent' post I have seen on these boards :beer:

tysfoot

Well i think all them posts have been a bit of an insult.

It is a genuine post and i cant understand why you people think its not. Just because i dont use this website and i dont get your lingo and i dont have the knowlegde and understanding that you lot have doesnt mean you can take the p**s out of someone for writing a new post.


Where iam getting at is i work part time, ths misses works full time. we have no money no savings but we have both got secure jobs. pretty much like the maority of people in this country.

I want to get on the property ladder but with my experience in tiling and painting and decorating and good contacts in building work plumbing and plastering i think i can make good money from property

Will any lender give me a say a 110% mortgage to buy a house and six months down the line sell it or rent it out and make some money out of it

Its not a joke, im just in the marjority margin

beecher

tysfoot wrote: »

Will any lender give me a say a 110% mortgage to buy a house and six months down the line sell it or rent it out and make some money out of it

No, they won't.

JonnyBravo

No deposit, no house.

It's the new old mantra!

PasturesNew

There is money to be made out of buying property and doing it up to sell.
But not if you're the one on a p155-poor part-time salary, with no savings and etc etc

The way to do it is: Find some other mug that's still thinking this is a great idea and work on their property for/with them for an hourly rate.

Speak to your building contacts, see if they know somebody that needs an odd-jobber. Work on a few projects over the next 6 months and see how it really all works. Converse with them about the finances. And you'll realise you are the one earning most out of their houses.

tysfoot

what do you mean. Everyone on here seems to have lots of knowledge of property and propety management. so im sorry for being stupid its just that i would like some guidance of how to get into property managemnet myself as its an area that intrests me

PasturesNew

tysfoot wrote: »

Everyone on here seems to have lots of knowledge of property and propety management.

Precisely. And they've all said:
- don't do it
- you can't do it

mlz1413

Tysfoot if your new to the boards then go back over the last 10 pages and have a read of the threads. You will see quite a few posts relating to how members of this site feel that the houses prices are crashing, you will also see other members who insist that house prices only ever increase (ie shortings HPC and HPI).

Also you have posted as a sub board 'house prices' has been created so you really do look like a troll.

If your having a problem with any of the shortenings type them into a web search engine, most are commonly used on the internet.

Personally I think you have a good idea - if you'd started 10 years ago, even 5 yrs ago. But at the moment I think you would be better getting another part time job with secure pay that will help you to save money or live a better quality of life.

tysfoot

why, isnt it worth taking a risk if i have good skills at building and designing property but not good skills in fnancial and and understanding of management.
if buy a property for 100k spend 10k doing it up and sell for 130k.

The reason why say that is because my freind has a house he wants to sell and i have told him iam interested in buying it for 100k. needs work to it. only cosmetic. want to extent the kitchen and garage. my estimation are 10k for the work and about 4 months work.

Easy peasy

or is it. thats what i want to find out