Starting out in property development

[Matt78]

Hi. 

 

My 2 brothers and I are considering starting to build houses to sell.   Many of the searches I've done have led me to this forum, so I thought I'd sign up.

 

We are three experienced bricklayers based in the North East of England.  We have good contacts in other trades, so If we manage to get this idea off the ground, hopefully, the actual building side should be pretty straightforward.   

 

It's the finance and accounting side of things that we have no experience in and need to learn more about.

 

Thanks.  

 

Matt

 

 

 

 

 

[Dave Jones]

try and build your first one with cash. raise it however you can. 

 

 

[nod]

What you need to do is find a backer 

Someone with money that is looking to invest They are out there 

[MikeSharp01]

Sounds like a good plan. You can also use your skills to build well insulated cheap to run homes with traditional brick technology - it can be done. 

 

@nods idea is worth following up but you need to own it rather than them own you. 

[Mr Punter]

It would be best to start working part time on this and get income from your other site work.

 

If you buy the right site at the right price you are 70% of the way toward a decent profit.  Spend most of your time looking for sites that will be a bargain and work out the angle and resale values.

 

If you over pay for a site you will never make money and will probably lose.  I know because I have done it.

 

Lots of people have made money from developing because market values have increased.  This is no longer the trend.

 

Having a trade and knowing others who are good helps a lot as well.

 

 

[twice round the block]

Can be long haul from purchasing a potential plot to getting planning on it, not months but sometimes years.

 

You need a fair bit of disposable income to tie it up on a bit of land.