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Discussion in 'General Business Forum' started by Quaffer, Nov 28, 2018.

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  1. Quaffer

    Quaffer UKBF Newcomer Free Member

    11 0

    With Brexit looming it is undoubtedly going to create uncertainty. For some this will be bad, for some it will be good. I sold my last renovation property (it was my full time home so not technically a business venture) at what I believed it to be it’s ceiling price, I couldn’t hold my nerve anymore as I’d put a lot of time and money into it. Fortunately it does appear we sold at the right time.

    What I am looking at doing with immediate effect is starting a property development business. I aim to use Brexit as leverage to get better deals on houses - this may not materialise but I do expect house prices to start to stall, Rightmove already indicates this is happening as I’m inundated with price reduced emails. So I’m ready to move with a project as soon as the right property comes up. I would be interested in talking to others who wanted to get into this line of work. I would be looking for any potential business partner to match my investment for renovations so for example I’m looking at one property currently and estimate it will cost £20k to bring it up to standard therefore we’d be responsible for £10k each.

    Any partnership formed would be done properly by creating a legitimate company via companies house of which we would both be directors of the company with everything 50/50. We would also open a proper business account of which we would both be named but no one person could withdraw without the other.

    The above is the reassurance people want before committing, I understand that. the simple point is, I’m honest, damn hardworking and very handy with lots of skills to bring houses to fruition. I’m more than happy to travel to meet any potential business partners for an informal chat and a drink.

    Happy to send some pictures up of our previous house so you can see the standard I worked to, it was a building site before.

    Let’s discuss!

    Posted: Nov 28, 2018 By: Quaffer Member since: Feb 20, 2016
  2. dotcomdude

    dotcomdude UKBF Enthusiast Free Member

    512 105
    I think you'd be better off finding someone that knows you, knows what you are good at and can help with finding the right property and developing it.

    I can't see anyone putting £10k into a company with a stranger from a forum. It sounds like a recipe for disaster!
    Posted: Nov 28, 2018 By: dotcomdude Member since: Jul 27, 2018
  3. Gordon - Commercial Finance

    Gordon - Commercial Finance UKBF Ace Free Member

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    Spot on. I would not work with you I'm afraid even with the above assurances.

    I don't think you're really going to get much leverage out of Brexit...that's only really affecting the market for properties bought by outside investors, and some commercials markets. Except for London, the property market marches on because whether we're in the EU or not, people need a place to stay.

    Also you've mentioned the £10k each for renovations, but what about investment for buying the place?
    Posted: Nov 28, 2018 By: Gordon - Commercial Finance Member since: Jun 26, 2017
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