rockits
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generally, buying sites without planning and selling having got planning for residential...usually to plc builders.. .. not without risk, but on sizeable projects my clients generally expect a 100% profit inside 18 months... Though I have done far better than that..... Its not without risks... but understanding them is the key...
Risks can be reduced by buying conditionally - or taking an option... but that tends to hit the margins badly..
Bear in mind as well that the buyers of the sites then go on to make a further typical margin of 25 - 30% on their purchase too..by building and selling finished units..
Done refurb projects etc .. and deals on commercial property.. and in 30 years I've only had one go pear shaped....out of hundreds...
All depends on how much you've got to put in and your attitude to risk... and Property needs capital and time for the bigger gains... It's not as fluid as the stock market.. Or cars....but in my experience ... in the long term it only goes one way....
I get tempted by "investing" cars all the time...but always come round to the view that I'm now too old to learn new tricks... there would be too much emotion involved for me... too easily tempted to buy something I liked ... and too tempted to spend much on it.. storage an issue... and selling on is generally at auction (at least for the classics) - and therefore a lottery.... To get it out of my system I've resorted to a minor flutter on the best of the best spot the ball competition !
What he said! Good plan....I agree