Is Property Development the Way to Go?
Property development is something that I’m spending most of my energy on right now since Boris Johnson the prime minister told people to build permitted development.
The venture is very profitable right now and I think as a property investor what you need to do is to see where the wind’s blowing and then set yourself for that.
I’m doing a lot of property development stuff and excited as I’ll be going to view different sites all across the country.
I’ve been to the Midlands, Buckinghamshire headed to the North West of the country as I spoke & posed few questions to some people in property development.
Ben: Director of Our Property Development Company
Question: Ben, what are the top three tips in property development?
- Do due diligence
- Get a structural engineer
- Perform a ground survey
David: Our Structural Engineer
Question: David, what are the top three tips in property development?
- Getting survey done
- Make sure that the development is financially viable and you can do everything you want to do
- Getting the planning permission
Anthony: Property Developer
Question: Anthony, you’ll be completing on Friday a pub. My question Is, are you going to be converting it into six apartments?
We purchased this pub last year pre-corona virus and we’re going to convert it into a six apartments, do a two-story extension on the back of it as we’ve had full planning to go through on this and now it’s going to be a great rental area.
We have some great rental properties as a result of it and so we’re really excited looking forward to getting it going.
My advice would be, get around good people that are successful, get around winners, get around people that want you to win because I believe that you are a resort of the people that you spend the most time with.
If you’re not going to pull all your money back out or at least leave five grands in and go to the next property that’s not a good deal.
So if you’re going to have to just leave six grand in, you’re not interested, that’s basically three houses and that’s what I want.
Liv: My student
Question1: Liv, why did you choose me as your mentor?
When it comes to development, I’m one that goes for the winners.
I look for the best and I think you were the best and so I reached out.
Question2: Why did you accept me?
I accepted you because you’ve got a massive drive and I thought you’re going to be successful anyway and if I can be part of that story then we’ll make a good team.
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