Has anyone had success/failure with property developing? Views please?

[Egypt]

This is something i think i'd really like to get into when we eventually return to the UK in 2-4 years' time. I see Noddyholder has had huge success with this career, although the housing market has been fab for her, is this something i could realistically do by myself (financial backing by dh!) or will the housing market be flat for years now? ..........or what? Any ideas please?

making plans to go back already!

While your here, do you know of any girl swimming instructors?

no no, just thinking i never want to teach again, and we are looking at buying property to rent in uk, thought would be a good start on the ladder to get developing when we get back!

we use a woman called lisa at maplewoods condo. i can give you her number. she's EXCELLENT. slim's ds and dd use her. but you have to go to her pool. she teaches every afternoon and may be able to find a slot for you guys. my neighbour knows a woman who come to you, think she's oz.

yes please all the details. Took ds1 to marsden and he refused to get in the pool and caused such a scene - after asking me for swimming lessons!!!!!!!! I was furious cost me $60 dollars (taxis and class fee) for a tantrum.

yes please all the details. Took ds1 to marsden and he refused to get in the pool and caused such a scene - after asking me for swimming lessons!!!!!!!! I was furious cost me $60 dollars (taxis and class fee) for a tantrum.

will text u her number

right back to thread title - anyone??

bump

please?

I personally think it is over now,as there is very little difference between a developed and undeveloped house in teh same street.Most of my contacts are jumping ship too.If I were going to pursue anything it would be design again.It will be years again before the housing market recovers imo although it is always a good investment in teh long term making a quick buck is over.What about interior design?

Up and coming areas are very risky in a falling market though as people just hang on for bigger drops in better areas and the sidelines do suffer.I bought an ex local authority flat in 2002 for 90k and just redecorated and new kitchen and sold it straight away for 140k.last year they were selling for 210-225 and are lovely and spacious but there are 2 for sale now in the same block lovely interiors for 180-185.This is because you can buy better for 220 now and people don't want them.Quick high end redesign still works if you have the money to start with.

yes interior design would interest me, but i would need quals. are you doing that nh? what sort of people use interioe designers? or is it all companies?

If you are relying on growth in the market, that isn't property development. It is investment on the back of a rising market.

true swedes. there's always got to be something to be made in development of a property, surely.

I have no formal qualifications although I worked with 2 very succesful designers and had a natural mability I suppose.A rising market has been kind to may developers who would otherwise have made nothing much.It is finding suitable properties now that is difficult as so many people have the same idea.I agree that developing in its purest form is profitable but there are so few left.I basically had people ask me to do small jobs when they had seen my own house and it built from there.

anniemac we have lived in all of ours too!Financially very good but sends you nuts at times.I have always added to in order to move the property into a differnet bracket but this time I am going to spend out money on something to develop which we will live in and I will stop here

What percent is capital gains tax?

Good idea about concentrating on good schools' areas.

Tell me, NH, what exactly does a typical interior design job entail? are we talking cosmetic design only, ie, colour, fabrics, accessories, furniture? or actually redesigning layout? and what do you do? literally go out and buy stuff for them/show them ideas and physically do the graft? surely you don't do the actual decorating?! what would you base your fee on? what would the fee be?

CGT is paid at your marginal rate - if you are a higher rate tax payer it is 40%. Everyone gets a CGT free annual allowance (it's currently about £9,000). However, Red Gordon is changing CGT and after April 5th CGT will be an 18% flat rate with no CGT free allowance.

I have been redeveloping my own properties for years so haven't done any paid work in design for a few years only for friends.I usually do re organise lay outs get quote hire builders buy materials etc and then dd 15% ish as a fee.There is not a lot of money in carpets and curtaind tbh and I found it quite boring.
I have lived in then sold and moved to another project for years in the hope of saving enough to be mortgage free and to have a nest egg as I have no pensions or insurance etc because of my health I am at this stage now and am looking for a final home.I think I will probably always do bits and pieces on recommendation but not as a career anymore.I think it is a natural thing and no amount of college can teach you it apart from measuring etc Colour matching and proportion and symetry are hard to learn ime

Just catching up so know it is bit of a dead thread now, but just in case anybody looks at this in the future I believe from next April CGT is payable at a flat rate of 18% like Swedes said. However, the c£9,000 per person allowance will remain. If a property is held in joint names then 2 x £9,000 allowances are available).

Hope this helps.

thanks helen