Tips from property development experts
Property development is a lucrative business, with those investing in properties reaping the rewards once selling them on. There has been some reluctance to purchase buy-to-let properties or investment homes after Brexit, so this could be the opportune moment for those looking to move into the market as there is less competition.
If you have been considering using those savings or taking out a business loan to dip your toe into the world of property here are some tips and tricks from those in the know…
Jason Harris, Director at First Urban Group
With 30 years experience in the industry, Jason Harris joined First Urban Group in 1991 and quickly worked his way up to Director level, acquiring numerous properties along the way and building a reputable portfolio. When considering a career in property development, Jason confirmed that you should:
“Build relationships with professional partners you can trust. The people you work with say a lot about you as a developer, so if you are looking to renovate a commercial property or develop on a large site it’s important you have dependent, hardworking partners that consistently complete projects to a high standard.”
Sarah Beeny, property developer and TV presenter
Sarah Beeny is a familiar face in the world of property development, after presenting Property Ladder she’s known as an expert and has since gone on to set up her own online estate agency. But when it comes to property development, what does she recommend first timers consider?
“When you’re choosing a location, I think the most important thing is that you know it because there can be little nuances about any location and you really need to understand what those are. One street can differ dramatically from another street.” Sarah said.
Sarah now works to market her online estate agency Tepilo, which has helped numerous people sell their homes quickly and easily.
Gary McCausland, property developer and TV presenter
Author of books such as How to Be a Property Developer, How to Make Money from Property and How to Make a Million from Property, Gary McCausland knows what he’s talking about. As the CEO of the Richland Group he has extensive experience buying and selling properties in the London area and believes that you ‘make your money when you buy, not when you sell’:
“It is essential to pay the right price for a property. Every pound you knock off the asking price is money straight in your pocket. If you pay top dollar for something, however good it may seem, you are not going to be able to make a decent profit because the margins are so slim.”
If you’re looking to move into the property development market, heed the advice of the experts, plan carefully, research thoroughly and ensure everything is covered before signing any paperwork!
You can check some of Jason and his team’s latest developments on First Urban Group’s social media accounts.
Debbie Fletcher is an enthusiastic, experienced writer who has written for a range of different magazines and news publications over the years. Graduating from City University London specialising in English Literature, Debbie’s passion for writing has since grown. She loves anything and everything technology, and exploring different cultures across the world. She’s currently looking towards starting her Masters in Comparative Literature in the next few years.