"Nicknoxx" wrote in message
...
Hi All

I planning to sell my house and buy two smaller ones, renovate them and
sell on at a profit.

I imaging that rewiring, new heating system, kitchen and bathroom will
be required but not any major structural work.

I would like to do all of the work myself but am not au fait with the
subtleties of the building regualtions to know what problems I'm likely
to encounter.

Any advice gratefully received.



Nick Brooks

Nick

I did exactly what you are planning 3 years ago, moved out of IT into
property. You need to think very carefully about cashflow. If you only
enough cash behind you to keep you afloat for at least 12 months don't take
on a project you think will take more than 6 months. You can make money,
sometimes a lot and sometimes nothing so watch out! I did well enough at the
start to let me sit on my existing properties until the market picks up. I'm
renting them until I can get a decent return and now looking at foreign
property whilst the UK market is static. Right now I would consider if its
the best of times to get into property.

Have you thought at supplimenting you income by contracting whilst working
on your own projects? Building doesn't pay *anything* until you sell and
there can be a big gap between finishing a project and the completion of a
sale!

The alternative to your approach of DIY is to contract out 90% of the work
and you just project manage it. When you consider the time savings it can be
cheaper.

Just a few thoughts.