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By (user no longer on site) OP
over a year ago
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How i wish when i was young to relise the mega bucks thats made now a days in property development, lets face it you never see a poor estate agent ?????????.
As an avid do it your self guy and quite competent in building work i never had the guts to buy a property do it up and sell it on.
Now a days it seems quite easy with buy to let mortgages etc.
Sarah beeny is a has been from no where and now look at her living in a mansion and all from property renovations and estate agency ???.
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By (user no longer on site)
over a year ago
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It's not as easy as it sounds, and the money might found a lot but overheads can easily eat into profits, for every Sarah beenie there are a hundred poor buggers who lost their shirt.
If you know what your doing, and are prepared to give up social life, free time, and sleep, and have a bit if savings set aside for when (not if) things go wrong you should be ok, but borrowing money to gamble on property is risky, you must have a decent amount if cash to start with, otherwise you could be left with massive debts, a half finished house, and no way out of it.
Yeah, you can make a living, but you have to be on the ball, or it can go south very quickly |
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By (user no longer on site)
over a year ago
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I'm not a big fan of estate agents and property developers but I think it's fair to say Sarah Beeny is the exception not the rule. There are risks involved in everything, how many do you think went out of business when the property market slumped a few years back? Don't waste your energy resenting other people's success. |
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By (user no longer on site)
over a year ago
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"It's not as easy as it sounds, and the money might found a lot but overheads can easily eat into profits, for every Sarah beenie there are a hundred poor buggers who lost their shirt.
If you know what your doing, and are prepared to give up social life, free time, and sleep, and have a bit if savings set aside for when (not if) things go wrong you should be ok, but borrowing money to gamble on property is risky, you must have a decent amount if cash to start with, otherwise you could be left with massive debts, a half finished house, and no way out of it.
Yeah, you can make a living, but you have to be on the ball, or it can go south very quickly"
Great advice,,,,  |
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By (user no longer on site)
over a year ago
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I actually know someone who sold their house to a 'property developer' who redid the whole thing, and then they bought it back for £20k less as he couldn't sell it. |
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By (user no longer on site) OP
over a year ago
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"I'm not a big fan of estate agents and property developers but I think it's fair to say Sarah Beeny is the exception not the rule. There are risks involved in everything, how many do you think went out of business when the property market slumped a few years back? Don't waste your energy resenting other people's success."
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"How i wish when i was young to relise the mega bucks thats made now a days in property development, lets face it you never see a poor estate agent ?????????.
As an avid do it your self guy and quite competent in building work i never had the guts to buy a property do it up and sell it on.
Now a days it seems quite easy with buy to let mortgages etc.
Sarah beeny is a has been from no where and now look at her living in a mansion and all from property renovations and estate agency ???.
"
Why not get in to it now? You're still young enough, you have the skills and plenty of people don't start property development until after they retire.
We are currently renovating our house, I wouldn't want to do it to a time scale and as a money earner...EVER. It's great doing it at our own pace but I imagine the pressure to finish something while paying a mortgage is immense. |
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By (user no longer on site)
over a year ago
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"I actually know someone who sold their house to a 'property developer' who redid the whole thing, and then they bought it back for £20k less as he couldn't sell it."
Years ago I wanted to buy a flat, they were an ex council block that had been renovated by a developer, I couldn't afford it though as I didn't have enough deposit to get the mortgage, fast forward two years, and one big property crash later, and I bought one, for the same amount that the deposit would have been, no one saw that crash of the early 90s coming, but its a lesson that should have been learned, but it hasn't |
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