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Sourcing Property & Profit Margins

R

Ross (Northwest)

New Member
I'm brand new to the property industry concentrating on buy to sell refurbishment projects. I've just completed my first project in the Preston area successfully with a healthy profit.

My question is where other than right move and traditional estate agents do people source property's? I'm a cash buyer in the 80k range before refurbishment costs

My second question is what is the average margins are developers seeing in terms of nett profit %

Best
 
D

diyhelp

Active Member
While checking out the main sites such as Right Move, etc I would also check out niche property sites, developer sites and also the local press in different areas of the country. If you can also build up a relationship with your local estate agent - or online company - and they know you are a serious investors, you may be offered properties before they go on the public market. Sometimes it is not what you know but who you know :)
 
N

nmb

Well-Known Member
What is your long term goal, buy, revamp and resell properties or a mixture of resell and rental? At some point I would suggest venturing out towards long term rental income to balance your portfolio and risk.
 
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