I can safely say that, in my forty years in the property industry, small-scale property development is the easiest way I’ve found of creating a fortune, property-related or otherwise. Unfortunately, that’s not the same as saying it’s easy. This is probably a good thing otherwise everyone would be a property developer (albeit we’d have solved the housing crisis ages ago). That said, many people give development a go, mainly because it’s highly leveraged and doesn’t require much personal capital. Yes, you’ll need money, but most of the cash will come from other people. In fact, your own investment will usually be a lot less than the deposit on a buy-to-let. Even a small development of between 4 and 20 flats will typically net you profits of £100,000 to £500,000 over 18-24 months, working in your spare time. It’s no surprise, then, that development creates a lot of interest.
But it’s not easy money; those who dive in more frequently sink rather than swim. Development is complex, and while architects, project managers, and contractors do most of the heavy lifting, it doesn’t mean the developer’s role is passive or without risk. Also, theory is one thing, but there’s nothing quite like doing your first development for real. When we launched propertyCEO, we recognised that teaching property development theory was essential, but could we go one better and give our students an insight into what doing a development project was REALLY like, warts and all? Where we could show students the stuff that other people didn’t teach. We decided the answer was to source a project ourselves and then film it from start to finish, turning the entire journey into a four-day, fly-on-the-wall training experience. Over the next twelve months, I’m going to take you on that same journey as we follow a small commercial conversion project from its humble beginnings through to its ultimately profitable conclusion. You can also watch some exclusive video content by clicking on the link which should help bring the project to life.
Click HERE for exclusive video content.