Advice & help needed please

[RachelB]

Hi everyone my name is Rachel from Derbyshire. I joined here as I am looking at becoming a Property Developer but all this is totally new to me so I don't really know where to start with it all.  I completed a degree in Business & Marketing last year and have since been unsatisfied with my job and really want to try this. I wondered as I have no experience in the trades will this go against me? Any tips would be greatly appreciated. Thanks, Rachel xx

[nod]

As someone who has bought many buy to let’s over the years I would say No it won’t hinder you not having a trade Whilst I’m a builder My wife has a far better eye for a good investment than I have 

Your long or short term return hinges on your initial purchase 

Worst house in the street Road and rail links etc 

 

Good luck 

Lots of potential out there 

 

[RachelB]

  On 08/05/2022 at 08:01, nod said:

As someone who has bought many buy to let’s over the years I would say No it won’t hinder you not having a trade Whilst I’m a builder My wife has a far better eye for a good investment than I have 

Your long or short term return hinges on your initial purchase 

Worst house in the street Road and rail links etc 

 

Good luck 

Lots of potential out there 

 

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Hi thank you so much. I am just looking into this now, there is soo much for me to work out and to make this happen its overwhelming me a bit but I really want to pursue it.

[ToughButterCup]

  On 08/05/2022 at 06:36, RachelB said:

...

Any tips would be greatly appreciated. Thanks, Rachel xx

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Determination, persistence.

Face misogyny head on. Loads of it in this sector.

Save money. Start very small, then modest, then bigger. Plan for growth. Think long term.  

 

[SimonD]

  On 08/05/2022 at 06:36, RachelB said:

Hi everyone my name is Rachel from Derbyshire. I joined here as I am looking at becoming a Property Developer but all this is totally new to me so I don't really know where to start with it all.  I completed a degree in Business & Marketing last year and have since been unsatisfied with my job and really want to try this. I wondered as I have no experience in the trades will this go against me? Any tips would be greatly appreciated. Thanks, Rachel xx

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I contemplated this years ago and then did the daft thing of deciding to build a house on my own (that's another story). I spoke to some local developers to find out more about the business. One small developer explained that one of the most important things was to have good relationships with the local trades so that you know who you're working with and who to get in when. If you don't have these relationships, the process becomes far more difficult, time consuming and risky. I know someone locally who decided to try it out and used some known trades but because he's not know by the trades as a developer, he got put on the so called hospital job* list and had to wait over 6 months for the plumbing and heating to be finished and similarly it took months to get the wiring done.

 

* a hospital jo is a job where the trades pop in every now and again when they're free as it's seen as a long job without deadline so they take their time and sometimes just forget about it.

 

Start small with the purpose of developing the relationships and then build from there.

[Marvin]

  On 08/05/2022 at 10:21, SimonD said:

 

* a hospital job is a job where the trades pop in every now and again when they're free as it's seen as a long job without deadline so they take their time and sometimes just forget about it.

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A long time ago, as best as I remember, the foreman's comments went:

 

"Well, when we finish this job we will go down to the hospital and carry on where we left off until we're made a better offer alright? Then it's off to that job. The hospital pays less but it means that we don't have to sack you and replace you when the next job starts.

 

Then the phrase was about bread n butter, and jam. The former the basic jobs that kept you going and the latter the ones that pay better money, and then about pulling my finger out and getting on with it.

 

 

[SteamyTea]

Welcome.

I am intrigued to know what a 'property developer' actually is.

Seems to cover everything from someone renting out a house, to a large corporation building 1000+new homes.

As far as I can see, at the lower end, it tends to be chancers.

So why not go and work for a property developer for a year or two, see what it is all about.

 

[SimonD]

  On 08/05/2022 at 14:19, Marvin said:

A long time ago, as best as I remember, the foreman's comments went:

 

"Well, when we finish this job we will go down to the hospital and carry on where we left off until we're made a better offer alright? Then it's off to that job. The hospital pays less but it means that we don't have to sack you and replace you when the next job starts.

 

Then the phrase was about bread n butter, and jam. The former the basic jobs that kept you going and the latter the ones that pay better money, and then about pulling my finger out and getting on with it.

 

 

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It's good to know the history of this and makes perfect sense. It was only briefly described to me by a tradesman a while ago. I suppose today it pretty much means the same as you describe in that it keeps the money coming in when there's nothing else better, but as soon as there is they're off to that.