- Work on finding small one-off plots first. The house with the large garden, the house with a garage that can make way for a home. Nothing complicated.
- You don’t need to have some magic way of adding value if you find little plots. The value will all be created in taking the time to make the deal happen. Knock on the door, send a letter, just get the ball rolling.
- Negotiate with the owner. Your first negotiation will be scary. So what, do it anyway.
- Just go for it, learn on the job. Get a little better each stage of the way. Progress is all you need.
- Start on the small deals, learn the ropes, how planning works, what consultants you need, how to evaluate a deal, build a team.
- Progress up the deal size chain as you move on to your second, third, fourth deal. Just make each deal bigger than the last.However, it’s not all about big deals. Some do £10m deals and make £1m. Whilst others do £2m deals and make £1m. Bigger isn’t always better.
- Finding great deals is difficult, but they are out there. Learn to love the process of the search for the deal.
- Partnerships: reach out to local developers. Find out what a great deal looks like and what they would pay you as a finders fee, then go out and find deals for them. However, your cut is secondary if you can partner up with a good developer and learn the ropes.
- You can do it all part-time. Evenings and weekends.
- Many dream of having their own business. What’s better than property development as a business? You can do it all with no staff and no big overhead, whilst the potential returns are huge.
Start with a deal like these:
