Shall I become a Property Developer?

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DH has been left a property in quite a state of disrepair. We could really use the money from selling it. The estate agent came round and said

a) it would only be bought by a developer who would turn it into two houses and sell them on
b) it would sell for £180-200K tops
c) it won't be an easy sell

It could become a three bed (220-240K) and a four bed (300-320K). So potentially a lot of money. But obviously, it needs tonnes of cash thrown at it to make the properties and, as we have zero saved for this, we would need funding. Back-of-fag-packet:£200K.

What do you think? Total hassle we could do without or too much money for us not to do it?

I'm not a total amateur btw, this would be my fifth renovation project. I've just not done something on this scale.

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Just put this in chat instead of Property.

Thread here www.mumsnet.com/Talk/_chat/2321841-Should-I-become-a-property-developer
Thanks

[NoArmaniNoPunani]

I'd go for it. Which option are you considering? If you turn it into two houses you could sell one and keep the other to rent out

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Oooh, I hadn't thought of that! That could be really exciting.

[Marmitelover55]

Don't forget you will have to pay CGT on any increase in valuation.