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Found 14 results

  1. Hi everyone. My first time on any kind of forum like this, so not sure exactly how it works! I have just started a new job and a complete career change working alongside a property development manager who helps landowners develop new homes. A new avenue the company is taking is to start managing custom builds, where we would plan and develop the project from start to finish, on a fully serviced plot of land. There are a few points I need to learn on, one of which being funding for custom builds. I understand that the (eventual) homeowner can get a specialist self/custom build mortgage. However, is there such a thing as a company (be it a house builder, investor, or something similar) who will part exchange your current house, as a partial loan? Let's say the current house is worth £70k, and we need £150k for the custom build project. We part-ex the current house and get £150k in return, but only actually borrow £80k, because the rest is in the house. Am I making sense? Would I be right in thinking that you could only do this if you owned the house outright, and not if you still had a mortgage on it? The other option could be releasing the equity in your current property to fund the custom build project. Does anybody have any advice on how that would look? The other area which I am interested in is the serviced plots themselves. How much preparation work does the landowner do on the plot before selling it? I understand that all utilities and access to a highway is provided - but will a physical boundary be in place, such as fencing? Is there a physical, structured driveway? Or is it literally, just a plot of land, plus the utilities? Please forgive my naivety, it is an area I have next to no knowledge in so I'm taking baby steps to learn what I can! Thank you in advance for any advice you can give.
  2. I'm just wondering how once i've purchased my first flat for £70,000 max and am renting it out to someone for a bit of extra money, how could I afford to get another property at £70,000 to then also rent out? I am doing this so that when I have children in future I can give them everything they need. I don't really want to have this be very time consuming. I intend to save up a deposit for the first property and move into it as I pay off the mortgage, which may be several years.
  3. Hi, I'm looking to get a bridging loan for a property development project. I was wondering if anyone could recommend a decent broker that specialises in bridging loans for property development? Thanks, James
  4. Myself and another individual are looking to set up a limited company to jointly invest in property development. It is our full intention to seek professional legal (and taxation) advice in order to have correct and optimal structures in place from the onset. Further to this however, it would be good to have some initial scrutiny of our basic strategy before taking things further from you lovely people. Our intention is to buy a suitable plot of land with existing planning permission, with the view of building anything in the range of 4 – 8 properties at a time. Naturally finance will be the biggest constraint, so we will either seek to secure a plot of land and build the properties in phases (maybe even one at a time). Alternatively, we may seek a smaller initial project (a plot suitable for one or two properties), in order to build up a better track record, build some additional capital, as well as hopefully increase lender confidence in obtaining additional finance levels. Both of us have £30k cash in place to putting towards the project, and our thinking was to use our personal homes as collateral to secure further lending, which would be made through the company but with personal guarantees etc (we are also considering the possibility of taking out personal loans of up to £25K each to boost this initial capital). I understand there are (a limited amount) of self-build lenders out there that will provide finance to cover 75% of the land acquisition costs, as well as up to 95% of the build cost. We have identified potential suitable sites available within the £120,000 price range, so there is no problem there. We also recognise that payments are usually made in arrears, therefore the remaining £30K would be to see through getting the foundation and roof height structure in place to release the first payment. Would a self-build mortgage as above with interest rates of circa 6% as currently available in the market be a feasible option for us in our situation, or are we likely to require something more specialist hitting interest rates of 10 – 12% with higher arrangement fees? In terms of experience, my business partner currently works for a small property renovation firm, where over the past 3+ years she has directly project managed renovation projects with construction values of over £3.1M, as well as played a role in managing over £8M of projects within the same company, including conversions of commercial premises to blocks containing 14 individual flats as well as building substantial extensions to private domestic dwellings. I work in procurement and supply, where for 6+ years I have dealt extensively with a number of sectors, including assisting SMEs within the construction industry to meet the quality, health and safety and management standards expected by major construction firms, as well assisted in implementing and monitoring internal KPI measures etc. I’m also conversant the NEC and JCT contracts. While our direct experience of property building in our personal capacities may be limited, we have experience of the sector and excellent industry networks in place – surely that will be of value in obtaining funding as a “first time” developer? We would appreciate any tips, advice and warnings, particularly regarding the wider costs and considerations such as NHBC warranties, or duties and obligations that arise due to being developing on a commercial level rather than building our own homes.
  5. Hi All Wonderful People! I've John the Hub to learn before start full stream Property Development. Currently, I'm working as an IT Professional and looking after Microsoft SQL Server databases. I have decided to start new venture of PD for a better life style for me and family. I will be having a joint venture with my friend who will be investing for our projects. My part will be to renovate property and Prepare for good ROI on the property. I am sure this question has been asked Many times and I'm asking again: 1. Any step-by-step guid for a newbi; 1.1 on joint venture setup, agreement template etc. 1.2 Property Development strategy; 1.3 transfer my home equity to my company; 1.4 marketing strategy for sell house; 1.5 end to end process; buy to sell 2. Any free courses which can help me to understand the process for PD; 3. Business Account vs Personal Bank Account; 4. Building team: 4.1 builders 4.2 other people involve in PD; I'm sorry but seems like a long list of question. Thank you in advance! Best Regard, Khalid
  6. Hi Guys, We are speaking to the owner of a currently undeveloped site and adjacent office. He is willing to sell both properties to the right buyer. He has looked into developing the site in the past but complications have meant he is out of his depth. I would like to introduce the site to a developer operating in the area for an introductory fee. My question is, how do I secure my intro fee? I have been told that written confirmation via email is enough to secure my fee. Is this true or does it require a contractual agreement in the form of a Heads of Terms? Any advice would be appreciated at this stage. I hope this is the right forum to post this thread! Ben C
  7. Hi everyone My name's Jonathan and I'm a full-time property developer working across Greater Manchester. I've been buying, renovating and selling properties since 2011. I source properties through contacts at local estate agents and at auctions. I project manage each development and work with a regular pool of trusted trades. I want to scale-up my business so I'm considering working with private investors or with joint venture partners, but I'm not in a hurry to enter a business relationship without doing comprehensive due diligence (as I'm sure you're not). If you're interested in exploring the potential to invest or to JV, please do let me know. Thanks and best wishes Jonathan
  8. Hey all, I'm Vicky Bromley I'm an aspiring property developer with the long-term ambition to run my own residential property development company and to self-build my own home. In terms of relevant knowledge and expertise, in 2014 I graduated from the University of Westminster with a distinction in Real Estate Development (MSc). Have had much experience working for a number of property companies including Knight Frank, Savills, and the housebuilder Banner Homes (now Cala Homes). Currently working as an Assistant Surveyor at Cushman and Wakefield in central London, undertaking my Assessment of Professional Competence (APC) to gain accreditation as a Chartered Surveyor in April 2017. Will be looking to join a small firm of residential property developers on qualification (any recommendations?). Sharing my knowledge about property development (for free!) from my website http://thepropertydeveloper.org/. I'm also tweeting all about property, property development and self-building from my Twitter account at https://twitter.com/vicky_bromley.
  9. Hello, I have been interested in getting involved in property development. I have been in the construction industry for the last 10 years and have saved up about 350k. I have land which could be used for development but I was looking for advice on getting development finance? Any tips on how to approach this.
  10. Hi Everyone, Relatively new to the investment field, however have been working in property for close to ten years in the serviced apartment and property finding field for corporate clientele relocating employees to the UK. Hoping to knowledge share with the skills I have developed in these areas and vice versa in the investment field. One query I have is: I have been approached by a serviced apartment company in London who has a particular interest in Manchester for a mix of 20 plus, 1 - 2 bedroom properties within the same development. Their wish is to take this on a ten year lease at a slightly reduced rent. From an investment perspective, is this feasible and something a developer may be interested in? I would be interested to hear your thoughts from an investment perspective. Kind regards Andrew Andrew White Director andrew.white@dmrelocation.com | www.dreammoverelocation.com Tel: + 44 (0) 161 282 5558 Mob: +44 (0) 7513 282 421 Twitter: @DreamMove Facebook: Dream MoveRelocation YouTube: http://bit.ly/15xJm0t (Property examples)
  11. Hi All, I came across this site by accident and very glad that I did. I have been religiously listening to the podcasts from episode 1 - Now on ep. 15 and also just started on the propertygeek podcasts and info on the site too. A little about me - I currently own 2 rental properties, one near Bromley, Kent and one just outside Manchester. I have just bought a 3rd property at auction which I intend to rent and is completing soon. It needs a bit of work before it's ready but hopefully won't take too long. I'm looking to invest, mainly in my local area of South London and also greater south London area, but am open to looking at of my local area as it's becoming increasingly more difficult to find good deals in London. My future intentions are to add slowly to my current portfolio and also buy properties bmv, to renovate and sell. I would say that I know more than the average, newish landlord, but am constantly looking to learn through rental publications and taking to good people. I am hoping to meet and talk to like minded people and share useful info with each other.
  12. Hi guys, my name is Sef, i've been viewing the forums for a while but as i've not actually got any investment properties myself yet i've not had the need to comment - that is until now! I'm currently saving for my first investment, but while i'm doing that an opportunity has presented itself, which seems great, but is a fair bit out of my comfort zone... It involves buying some land and building a property so i'd love to hear from anyone with any experience with this. The situation is this: I've recently moved in to my girlfriend's ground-floor flat in London, which she recently bought. At the rear of the property there are 3 car parking spaces, one of which is hers. I've attached an architectural plans image (she got this when buying the flat) showing the flats layout- everything in red is what is hers, including the full rear garden. There are two attachments, the second showing clearly the area I intend to purchase. I had the idea of buying these parking spaces at the rear and building a (albeit quite small) detached one-bedroom house. I expect a house of this size could easily sell for £250k in this area. The only problem is that i don't know where to begin. I think what I need to do is contact the freeholder and see if they're willing to sell me the freehold for this small plot, and then contact the individual owners of the two flats above my girlfriends flat (it's a large 3-floor terrace house with each floor a different flat - as can be seen in the attached property plans) and encourage them to sell to me also (i think each flat has a different owner who rents them out to tenants - basically they're not owner occupied, which seems like a positive). What is the etiquette of buying from these current owners - should I tell them my plans that I want to make money from this plot, or do I not tell them as it's not in my interest to do so? Do i tell them i want to build a garage? Or have i got to tell them what i'm planning on building, by law? Do I need to check with someone (planning) to see if I can even build on this land? If so, how should i go about that? I'm really excited about this opportunity, but as you can see I really need a bit of guidance, so i'm hoping that there is a kind soul out that who has done something similar in the past and can give me some much-needed wisdom. Very sorry for the long post, just want to get as helpful to you helpful bunch as possible! Thanks for reading! Sef
  13. Hi all! My names Harley Wilson, I am a Brighton based Property developer working on several schemes down in Brighton. I also have a broad network in London and other locations in the South. I'm looking to meet other developers, and investors interested in working with us on future development projects in the South. Lets connect!
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