Property Development Thread

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Property Development Thread

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Lyons550 Shirley 21 Nov 17 1.47pm
Originally posted by mezzer I've lived through two cycles now where making "easy" money from property development has just pre-empted a sharp downturn in the property market, wiping out numerous development companies that are not well run nor well enough funded to sit out a period where the market dries up and a quick "turn" becomes a two year millstone around liquid funds that are needed to keep the companiy's profitability oiled. Not saying not to do it Lyons, and there are some very wealthy people out there who have, but in a decade where the words "that'll never happen" have become the most accurate way to forecast the future, beware of thinking that "that'll never happen" to this property market. Sage advice Mezzer, clearly the 'property cycle' has its part to play as does having robust ROI 'models' with stress testing built in to crunch the numbers with. That said you're right, every property needs to have a clear exit strategy as well depending on the market pressures at the time. The Voice of Reason In An Otherwise Mediocre World
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Lyons550

Shirley 21 Nov 17 1.47pm

Originally posted by mezzer

I've lived through two cycles now where making "easy" money from property development has just pre-empted a sharp downturn in the property market, wiping out numerous development companies that are not well run nor well enough funded to sit out a period where the market dries up and a quick "turn" becomes a two year millstone around liquid funds that are needed to keep the companiy's profitability oiled.

Not saying not to do it Lyons, and there are some very wealthy people out there who have, but in a decade where the words "that'll never happen" have become the most accurate way to forecast the future, beware of thinking that "that'll never happen" to this property market.

Sage advice Mezzer, clearly the 'property cycle' has its part to play as does having robust ROI 'models' with stress testing built in to crunch the numbers with.

That said you're right, every property needs to have a clear exit strategy as well depending on the market pressures at the time.

The Voice of Reason In An Otherwise Mediocre World

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elgrande bedford 21 Nov 17 3.33pm
Originally posted by Lyons550 Well done, i noticed you'd edited it afterwards. B2L isn't that bad, people are now preferring to rent rather than own as it gives them greater flexibility. As a landlord myself i ensure my tenants are happy, have a good communication with them and they know that i'll address anything as soon as possible...and i'm not even charging them the rent I could get, because It's just as important to me to have good tenants. In turn I know the property is looked after and well maintained. Do you use a letting agent. Just wondered because from what I hear of them they are just robbing b****s. My daughter,granddaughter and her other half had to move out of tbier flat in Carlshalton earlier this year. They visted a couple of letting agents and the fees they were asking for were a f*ing joke. Luckily they found a 2 bedroom cottage style house in Sutton advertised privately. Thier previous landlord had given them a really really good reference,so there was no hassle there. But they are still paying £1200 a month. always a Norwood boy, where ever I live.
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elgrande

bedford 21 Nov 17 3.33pm

Originally posted by Lyons550

Well done, i noticed you'd edited it afterwards.

B2L isn't that bad, people are now preferring to rent rather than own as it gives them greater flexibility.

As a landlord myself i ensure my tenants are happy, have a good communication with them and they know that i'll address anything as soon as possible...and i'm not even charging them the rent I could get, because It's just as important to me to have good tenants.

In turn I know the property is looked after and well maintained.

Do you use a letting agent.
Just wondered because from what I hear of them they are just robbing b******s.
My daughter,granddaughter and her other half had to move out of tbier flat in Carlshalton earlier this year.
They visted a couple of letting agents and the fees they were asking for were a f***ing joke.
Luckily they found a 2 bedroom cottage style house in Sutton advertised privately.
Thier previous landlord had given them a really really good reference,so there was no hassle there.
But they are still paying £1200 a month.

always a Norwood boy, where ever I live.

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Lyons550 Shirley 21 Nov 17 4.36pm
Originally posted by elgrande Do you use a letting agent. Just wondered because from what I hear of them they are just robbing b****s. My daughter,granddaughter and her other half had to move out of tbier flat in Carlshalton earlier this year. They visted a couple of letting agents and the fees they were asking for were a f*ing joke. Luckily they found a 2 bedroom cottage style house in Sutton advertised privately. Thier previous landlord had given them a really really good reference,so there was no hassle there. But they are still paying £1200 a month. I do...to date I've not had any issues with them TBF. They always converse with me, do regular checks on the property and pay me the rent bang on time. My places are on the coast, as such I cant simply pop down there at the drop of a hat so it makes sense to have someone else manage it for me. I guess it's like everything there will always be a minority that give the majority a bad name...but to date (fingers crossed) I cant complain at all. I hope they like where they found elgrande and that they've settled in well. The Voice of Reason In An Otherwise Mediocre World
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Lyons550

Shirley 21 Nov 17 4.36pm

Originally posted by elgrande

I do...to date I've not had any issues with them TBF. They always converse with me, do regular checks on the property and pay me the rent bang on time.

My places are on the coast, as such I cant simply pop down there at the drop of a hat so it makes sense to have someone else manage it for me.

I guess it's like everything there will always be a minority that give the majority a bad name...but to date (fingers crossed) I cant complain at all.

I hope they like where they found elgrande and that they've settled in well.

The Voice of Reason In An Otherwise Mediocre World

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elgrande bedford 21 Nov 17 4.42pm
Originally posted by Lyons550 I do...to date I've not had any issues with them TBF. They always converse with me, do regular checks on the property and pay me the rent bang on time. My places are on the coast, as such I cant simply pop down there at the drop of a hat so it makes sense to have someone else manage it for me. I guess it's like everything there will always be a minority that give the majority a bad name...but to date (fingers crossed) I cant complain at all. I hope they like where they found elgrande and that they've settled in well. Thank you Lyons. They absolutely love it,and get on really well with the landlady. Its a nice little house,with a decent sized garden,and quite close for my daughters work and granddaughters school. And she will be going to secondary school next year,and there some very good schools in the area. always a Norwood boy, where ever I live.
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elgrande

bedford 21 Nov 17 4.42pm

Originally posted by Lyons550

I do...to date I've not had any issues with them TBF. They always converse with me, do regular checks on the property and pay me the rent bang on time.

My places are on the coast, as such I cant simply pop down there at the drop of a hat so it makes sense to have someone else manage it for me.

I guess it's like everything there will always be a minority that give the majority a bad name...but to date (fingers crossed) I cant complain at all.

I hope they like where they found elgrande and that they've settled in well.

Thank you Lyons.
They absolutely love it,and get on really well with the landlady.
Its a nice little house,with a decent sized garden,and quite close for my daughters work and granddaughters school.
And she will be going to secondary school next year,and there some very good schools in the area.

always a Norwood boy, where ever I live.

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Lyons550 Shirley 21 Nov 17 4.43pm
Originally posted by elgrande Thank you Lyons. They absolutely love it,and get on really well with the landlady. Its a nice little house,with a decent sized garden,and quite close for my daughters work and granddaughters school. And she will be going to secondary school next year,and there some very good schools in the area. Excellent... The Voice of Reason In An Otherwise Mediocre World
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Lyons550

Shirley 21 Nov 17 4.43pm

Originally posted by elgrande

Excellent...

The Voice of Reason In An Otherwise Mediocre World

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elgrande bedford 21 Nov 17 4.47pm
Originally posted by Lyons550 Excellent... But after saying all that,they are saving for thier mortgage....i think they are hoping she might sell. Bank of dad might come into play here...gulp. always a Norwood boy, where ever I live.
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elgrande

bedford 21 Nov 17 4.47pm

Originally posted by Lyons550

Excellent...

But after saying all that,they are saving for thier mortgage....i think they are hoping she might sell.

Bank of dad might come into play here...gulp.

always a Norwood boy, where ever I live.

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.TUX. 21 Nov 17 4.59pm
Originally posted by hedgehog50 Buy to let developers who buy first time buyer type property to exploit those seeking their first home exacerbate the housing crisis and fuel house price inflation - they should be subject to high rates of taxation as a deterrent. Edited by hedgehog50 (21 Nov 2017 12.53pm) Agreed. Anyone expecting someone less fortunate to buy a house for them instead of a home for themselves should be subject to every deterrent possible. Buy Litecoin.
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.TUX.

21 Nov 17 4.59pm

Originally posted by hedgehog50

Buy to let developers who buy first time buyer type property to exploit those seeking their first home exacerbate the housing crisis and fuel house price inflation - they should be subject to high rates of taxation as a deterrent.

Edited by hedgehog50 (21 Nov 2017 12.53pm)

Agreed.
Anyone expecting someone less fortunate to buy a house for them instead of a home for themselves should be subject to every deterrent possible.

Buy Litecoin.

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Lyons550 Shirley 21 Nov 17 5.07pm
Originally posted by elgrande But after saying all that,they are saving for thier mortgage....i think they are hoping she might sell. Bank of dad might come into play here...gulp. Lol...i wouldn't be surprised to see Stamp Duty removed for 1st Time buyers in tomorrows Budget mate; something definitely needs to be done to help 1st timers get on the ladder. The Voice of Reason In An Otherwise Mediocre World
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Lyons550

Shirley 21 Nov 17 5.07pm

Originally posted by elgrande

But after saying all that,they are saving for thier mortgage....i think they are hoping she might sell.

Bank of dad might come into play here...gulp.

Lol...i wouldn't be surprised to see Stamp Duty removed for 1st Time buyers in tomorrows Budget mate; something definitely needs to be done to help 1st timers get on the ladder.

The Voice of Reason In An Otherwise Mediocre World

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simlaboy coulsdon 21 Nov 17 5.22pm
Found it best to renovate and sell on , stick most improvements against CGT, for some reason you can’t claim anything for decorating or carpets but can for hardwood floor coverings ,so I’m told . Only drawback is continually dealing with Solicitors , mine are good and on the case but they are dealing with people stuck in the 70s and it can be frustrating .
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simlaboy

coulsdon 21 Nov 17 5.22pm

Found it best to renovate and sell on , stick most improvements against CGT, for some reason you can’t claim anything for decorating or carpets but can for hardwood floor coverings ,so I’m told . Only drawback is continually dealing with Solicitors , mine are good and on the case but they are dealing with people stuck in the 70s and it can be frustrating .

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Lyons550 Shirley 21 Nov 17 5.27pm
Originally posted by simlaboy Found it best to renovate and sell on , stick most improvements against CGT, for some reason you can’t claim anything for decorating or carpets but can for hardwood floor coverings ,so I’m told . Only drawback is continually dealing with Solicitors , mine are good and on the case but they are dealing with people stuck in the 70s and it can be frustrating . Do you find that as a result of repeat business you can negotiate a better conveyancing fee? The Voice of Reason In An Otherwise Mediocre World
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Lyons550

Shirley 21 Nov 17 5.27pm

Originally posted by simlaboy

Do you find that as a result of repeat business you can negotiate a better conveyancing fee?

The Voice of Reason In An Otherwise Mediocre World

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simlaboy coulsdon 21 Nov 17 6.19pm
My Solicitor fees are really not an issue, however I found it best to get Estate Agents to compete for business, there commission varies quite a bit. Looking in to using these fixed fees people , good luck with it all
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simlaboy

coulsdon 21 Nov 17 6.19pm

My Solicitor fees are really not an issue, however I found it best to get Estate Agents to compete for business, there commission varies quite a bit. Looking in to using these fixed fees people , good luck with it all

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