Search the Community
Showing results for tags 'developing'.
Found 4 results
First Time Property Developer, Is This Viable?
maxp95 posted a topic in Refurbs & DevelopingHi Everyone, I asked this question to Rob Dix some time back and got really good advice. I just wanted to know if there were any developers on here that could say if the investment strategy my two brothers and I are looking at doing is viable or if it’s unrealistic and too ambitious. As a back story my two brothers and I have previously invested in a property refurbishment venture in the town of March which we sold in 2020 for a 20k profit (we used Rob Dix book and podcast often) We have recently changed strategy as my brother took a land sourcing course provided by White Box Property Solutions which cost £600. We have a total pot of 200k as both myself and my two brothers have put in 50k and our cousin will invest a further 50k when a plot is found. He uses a tool called Land Insight among other paid software to determine the best areas to buy land and build upon. The strategy is to buy undervalued land that has a good per square meter cost and build to sell the properties on the land. My brother then puts it into his spreadsheet to do an advanced appraisal of the land to see if it is viable. We intend to use specialist loan brokers to find a provider willing to lend us the money for the development costs. From what I've researched they will require some form of collateral or liability (such as assets etc). Due to this being our first build we will most likely only build 3-5 houses from speaking with a loan provider that would be a maximum we would be able to get funding for. I have been assured by my brother that if anything went wrong they (the loan provider) would take the land and any built (or prebuilt) houses. I'm just worried that we are being too ambitious. My cousin is likely to have his assets as a liability as he has a successful job in London with two houses, my brother only has a car as an asset. Does anyone think this is viable or is it a too ambitious at this stage? Any help provided would be greatly appreciated.
Cost of refurb for a 2 bed flat in Croydon
Charl3s posted a topic in Refurbs & DevelopingHi Guys, I’m just in the process of purchasing my first property, it is a repossessed 2 bedroom flat so is in need of modernisation. I would say the flat needs a full refurb which would include a new kitchen, bathroom, redecorating, flooring and a new boiler. The surveyor said the electrics and plumbing seem to be fine but may need changing in the near future, so I was thinking to get this down whilst I’m changing everything else. I just wanted to know how much would something like this cost to be done at a good level. In my head I’ve budgeted for about £20k - £25k. Would be great to get some realistic cost from those who have done this type of work. Also if you know any good trades people that could do the job I would really appreciate it if you could forward me their details. I’m based in Croydon. I have attached the floor plan so you can get an idea of the size. You Thanks Charles
Builders in Medway
Rajesh Kumar posted a topic in Refurbs & DevelopingHi friends, Hope everyone is having good time. My project is due to start in Nov first week for complete renovation work (2 bed room terraced house) in Medway. This requires complete work of replacing existing electrical wirings, plumbing, gas, plastering, painting, flooring, Kitchen/bathroom replacement etc. I do not have good experience with builders with my last 2 projects as they were not good at their estimates and meeting timelines. They gave me higher estimate and didn't meet their timelines. Please recommend and suggest based on your experiences friends. Thanks, Raj
Charles D posted a topic in Refurbs & DevelopingHi All, i'm looking for a builder in the Gravesend / Kent area and have had some quotes and they have all come in far and between £11k - £21 and the timescales between 4-8 weeks. I know the main cost is due to Labour however this is a one bedroom flat and isn't a major refurb. The kitchen will be completely gutted out and new windows and Central heating is where the bulk of the cost will go. Can someone tell me as to what type of price I should be looking at for the following works. This will be my first light refurb I intend to live their for no more than 6 months but will rent out afterwards. I will be responsible for supplying the Kitchen, Paint & doors. The boiler will be supplied and fitted by the builder. I would appreciate your feedback as that would be great. Many Thanks Lounge Strip paper, fit 6 x down lights, plaster ceiling, fit new door. Prepare walls and ceiling and apply 2 coats of emulsion. Prepare woodwork and apply one undercoat and one coat of white gloss. You to supply emulsion, door, hinges and handle. Bathroom Replace one tile supplied by you, plaster ceiling, fit 6 x spot lights, remove tiled flooring and fit new ply floor and tile, fit new door and decorate. You to supply, door, handles and hinges and floor tiles. Hall Strip paper, plaster ceiling, fit new door to cupboard and decorate. If walls are not good enough to decorate I will have to price for the plastering of the walls once we know. You to supply door, hinges, handles and emulsion. Bedroom Strip paper, fit new 6-inch skirting, fit 5 x spot lights, remove beads to wardrobes, fit new handles, fit new door and decorate. I will have to price for the plastering of the walls once we know if they are good enough. You to supply, handles for wardrobes, door, hinges and handle. Kitchen Remove existing kitchen, enlarge windows, plaster kitchen, fit 2 x new PVC windows and new PVC back door, renew electrics and plumbing, fit new kitchen, fit new wall and floor tiles, decorate. You to supply, kitchen, wall and floor tiles and emulsion. Heating and hot water Fit new Combi boiler, fit new 3 x radiators and 1 x towel rail. Fit all required pipework and electrics.