Property development

[The Pallion Stallion]

How do you get in to this regarding funding? Do people just do it with a lot of capital behind them or do they take out specific mortgages and then pay them off once sold?

Been thinking of getting in to this for a little while but have nowhere near the money you tend to need behind me. I do have a lot of trusted contractors though, hence the interest.

 

[Goat Eyes]

You certainly need some capital behind you. At least the deposit, stamp duty, solicitors fees, auction fees for the initial purchase.

 

[Abu Dhabi Red and White]

How do you get in to this regarding funding? Do people just do it with a lot of capital behind them or do they take out specific mortgages and then pay them off once sold?

Been thinking of getting in to this for a little while but have nowhere near the money you tend to need behind me. I do have a lot of trusted contractors though, hence the interest.

If you have trusted contractors, buy cheap and sell higher after the properties are renovated. Take a loan out initially if you know that the properties can be done up quickly.
I didn't have any known contractors but still bought a reasonable property in a cheap area and let it out at slightly less than the market value to ensure that I have occupancy.