View Single Post
  #36   Report Post  
Richard Faulkner
 
Posts: n/a
Default Property development

In message , Nicknoxx
writes
I've learnt a great deal over the last few years about house renovation
and find that my current career isn't very challenging any more. It's
clear from the Property Ladder type programmes that complete numpties
can made money doing up houses and I thought it was time to have a go.


Dont forget that all of these numpties made money because the housing
market rose during the time they were doing the work. In most instances,
Beeny says that they could have done nothing to the properties and sold
them for the same, or more, profit.

In a static, (or falling), market they would all have lost money.

One view I have always taken with a fixer upper is to be sure that
rental income would cover the ongoing costs, if selling wasnt a
realistic option.

--
Richard Faulkner