Reply to: Plan B - Next project - BTL and?

[minsky1]

MF,

Did you get chance to post up the BTL excel models you were using? ... wouldn't mind having a look at them.

[MarillionFan]

142k sale agreed.

Is there an idiots guide to Property Development???

Answer to my own question, the House Builders Bible by Mark Brinkley 9th Edition. Absolute brilliant.

Managed to purchase & do up the house for 144k
Building regs already started(took some time to track down as the solicitor failed to get these) and because the build started before changes to building regs in October 2011 I don't need to worry about any buildover agreements with the water board.

First detailed quote in at £60k all in, including insurance, management & completion of architects drawings for a four month build. Sarah Beeny look out!!!

[geoff from contracta IOM]

142k sale agreed.

Is there an idiots guide to Property Development???

For the development you describe two things to be VERY VERY wary of are movement in the existing property with digging new founds and drainage and services that will run to the existing property through the new site. Basically it really isn't a beginners project but good luck !

[ChimpMaster]

Cool.

Least it's not mortgaged.

That's even worse because you're losing your own money, not OPM!

[MarillionFan]

Probably be worth about £60k adter the coming bust

Cool.

Least it's not mortgaged.

[sasguru]

142k sale agreed.

Is there an idiots guide to Property Development???

Probably be worth about £60k adter the coming bust

[d000hg]

How could it go wrong with these plans?

Are those the overly diverse mother and child from Young Apprentice this weeks?

[Churchill]

Looks like Hitler.

:nazi:

[TimberWolf]

How could it go wrong with these plans?

Looks like Hitler.

[MarillionFan]

Why do I have a feeling this is going to end very badly?

How could it go wrong with these plans?

[TimberWolf]

MF is fielding so far ahead of the next housing boom curve that he hasn't waited for the bust to start first. Even if nominal house prices were to remain static (some if!) housing is a real 10% loss/year?

[d000hg]

Why do I have a feeling this is going to end very badly?

It could be worse. He could be partnering with SY01.

[DimPrawn]

142k sale agreed.

Is there an idiots guide to Property Development???

Why do I have a feeling this is going to end very badly?

[d000hg]

I've seem some good results / yields with Allsops. Another property I looked at in Blackwater at 115k needing complete renovation went for 170k. Done up it was only worth 200k.

There is little cheap property near me. 180k for a one bedroomed flat. Rental yields are crap.

You can buy ours if you like. You'll get about 6.5% yield and it'll cost you only £75k - ready to let

[TheFaQQer]

142k sale agreed.

Is there an idiots guide to Property Development???

http://www.amazon.co.uk/Property-Lad...0254248&sr=8-3