FANTASTIC DEVELOPMENT DEAL *£445,000 PROFIT *

[Shona]

Cheers for that, Boxer.
Are you considering this venture? I ask so I can give the vendor some feedback.

Many thanks
Shona

[Boxer]

Hi Shona,

I think that I'll decline at the moment because a development project such as that has the potential to be a lot of work - in an area that I'm unfamiliar with - and vulnerable to many external influences that are outside of my control.

I'm struggling to imagine selling at the profit figure you quote in 18 months time - and the rental figures don't appear to stack up for a longer holding (especially at current interest rates).

It may well suit a local developer to buy and hold with a view to monetising later - but I don't think that I'm that person. Thank's anyway though.

[Shona]

Hi Boxer,
I really appreciate your comments. It really helps to get an honest oppinion, I can't learn otherwise.

Thanks again
Cheers
Shona

[kjhowse]

Hi Shona,

Good to see you on here and good luck with your development deals!

Kenny

[Shona]

Cheers Kenny.

[pram-rmproperties]

Hey my name is Pram from RM Properties and i was wondering if you have any deal for residential or commercial , Land deals or portfolio deals. My main business is to source and I understand that you looking to buy.

We are in a position to deal with all sale becuase we have 3000 residential property buyers and a handful of cash rich investors to buy from £1m up to over £1bn.

[Boxer]

Hi Shona,

I was just wondering what happened with this - any chance of an update?

[Shona]

Hi Boxer,
As far as I am aware it is still up for sale. A lot of the regeneration has been completed and there is still a high demand for rental properties in that area. I have moved on to other things so have not been in touch with the vendor recently. I could contact him if you want any more info. He has other similar development sites.

Thankyou for your interest
Best wishes
Shona

[Boxer]

As far as I am aware it is still up for sale.

I wish I could say this surprised me - but it doesn't. I was enquiring more through academic interest than an intention to purchase - so no need for you to pursue further - but thanks for offering.

Hold onto the lead and contact though because when things recover - which they will - it may be worth money to you. That said - they may need to drop the price a bit!

I have moved on to other things so have not been in touch with the vendor recently.

Sorry to hear that the property business didn't work out for you - what are you doing now?

[Shona]

Hi Boxer,
I'm not surprised either with things as they are at the moment, just bad timing for the vendor.
Thanks for the advice, I will hold on to the contact.
I am still in the property business, I am investing instead of locating. With everything I have learned, with thanks to people like yourself and others on the forum, I realised investing was actually more suited to me. So all is well, fingers crossed!

Best wishes
Shona