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mikmo

Views on investment...

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Long time reader canvassing forward looking views and general advice. 

I've a small pot of savings and a out of work handy brother, as a result we've been thinking about teaming up to do buy a small project property, fix it up and flip it. I've a good understanding of the tax and financial side. He can do some of the aesthetic work but nothing structural.

Does anyone have any experience with this kind of project?  My initial thinking is to start with a unmodernised property (initial cost £60k to £120k) in a on the up area, such as those identified in the Belfast Regeneration Plan, spend a little adding cheap square footage where possible, such as lofts,  and generally modernise with a view to selling ASAP and repeating.

For me this project has the dual benefit of helping out my brother while hopefully generating some return.

Any views from members on viability of these kinds of projects in the current market, recommendations for areas or ways to approach, and any other wise words much appreciated!

Thanks,

Mikmo

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Great Question.

You will probably be put down quickly by most of the regular posters as they generally don't like this kinda thing.

What area are you looking in?

Im thinking it would be easier in a rapidly rising market. Belfast has been surprisingly rising recently, but i feel this will stagnate in 2018/19 due to uncertainty with brexit etc and the London slowdown ripple.

Hopefully belfastVI can give you some insight into this.

Would love to hear how u get on.

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Hi Zamo, thanks for the positive response! I've been a reader since 2011 and some great ideas and insight available on here so hoping to tap into some of that as I'm relatively novice.

I feel a little more positive than you on the market. It's a great place and prices still a large discount to other secondary UK cities. I'm hoping Brexit will pass more smoothly than many people expect, and potentially create some geographical / market access advantages for NI. This combined with the strong central government support NI is currently getting will, I hope, be cumulatively positive for the market.

Location wise I am agnostic, simply looking for best investment potential. Areas I have in mind so far:

 1) North Road area, just outside the Ballyhack bubble and relatively cheap still

2) Central in and around the new University of Ulster campus and YorkGate. Close to Cathedral qrt etc but much cheaper still, and pretty rough admittedly at the moment!

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  • 406 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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