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How To Become A Property Developer uk | Project Management / Developing /Property Developing UK Tips - YouTube
Channel: Your First Four Houses
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how to become a property developer
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that's what today's video is all about
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and I've got 10 gold nuggets that
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they're gonna make you or save you a lot
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of money on your next property
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development hi my name's Tony Laurel
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from your first four houses now my
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channels a little bit helping you
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achieve financial freedom through
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property if this is your first time here
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be sure to subscribe to the channel and
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hit the bell notification icon so you
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don't miss out and any other free
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content that I give you each and every
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week so today's video is in association
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with the refurbishment masterclass run
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by the highly regarded Martin and Sarah
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raptly and I've managed to persuade them
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to let me give away five of their
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amazing PDF FAQ sheets
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they've on how to write project
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specifications putting together budgets
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how to appoint builders working with
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builders and managing your time line of
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works these are incredible resources and
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I've put a link to each of them at the
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end of this video ok so tip number one
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always work backwards from the gross
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development value or gdv when
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calculating a purchase price it's the
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very best way to work out what you
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should be paying for a property or a
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building plot and be realistic about
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this gross development value in fact can
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I suggest perhaps being a little bit
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pessimistic when calculating this figure
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next just because of property needs
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refurbishing that doesn't automatically
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make it a good deal if you spot a
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property that appears to be say 20,000
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pounds below market value if you think
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gotta spend say 30,000 pounds doing it
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up that's not a deal and unless you can
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add some real tangible value in some
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other way for example say building in
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the back garden I would suggest you
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should be looking for another project
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just because a plot has planning that
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doesn't guarantee you a profit or that
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the property can even be developed at
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all for that
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matter obviously you need to do your
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research carefully and dare I say if the
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agent is offering up some fairly
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persuasive numbers for example the gross
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development value keep in mind the agent
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makes a commission if you buy and so
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personally I would suggest putting more
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faith in your own numbers rather than
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theirs always have a scheduler works if
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you don't know what you want how does
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the Builder and just as importantly how
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can you possibly have a realistic budget
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you can't build from planning drawings
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it's therefore impossible for builders
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accurately price from them your
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architect needs to produce building reg
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drawings before you go and get any
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prices don't be afraid to outsource to
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experts
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honestly they will save you thousands in
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the long term you don't have to appoint
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the cheapest builder work with the best
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builder on any one project you can only
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achieve two of the following three items
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you can get high quality fast turnaround
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or low cost and our advice is to aim for
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high quality and fast turnaround if you
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possibly can by the way if you're
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finding this video helpful I wouldn't
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love it
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if you could let me know by clicking on
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the thumbs up button below it would
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really help me if that's okay delaying
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the project was trying to beat down the
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price can cost you more in the longer
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term than what you're trying to save
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delays tend to swallow up your profits
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as the financing costs on any given
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project are generally quite high always
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agree terms with your builder before the
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work starts and write them down for both
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parties to keep a record off and on
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larger projects don't be afraid to use a
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formal contract and lastly I've got to
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ask you this question is project
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managing the works really the best use
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of your time and skills or might your
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time be better spent going out looking
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for that next
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deal before you go don't forget to grab
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those five amazing PDFs very kindly
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donated by the refurbishment masterclass
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because there's some real golden nuggets
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in there just click on this link or in
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the link in the comment section below
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and I'll send them straight out to you
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now watch till here don't forget to
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subscribe to this channel for more free
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content just like this my name is tony
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la from your first four houses with
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online training that helps build your
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property
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