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How To Make Millions Of Pounds

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Step 1: get an old house for a coupple of million

Step 2: convert the house into flats

Step 3: sell said 2-bed flats for up to £1m a piece

In sevenoaks

http://www.rydon.co.uk/rydonhomes/assets/h...place_spec.html

Prices for remaining units here:

http://www.smartnewhomes.com/development/B...62/gallery.aspx

15 units:

Unit 1, 'garden floor', 2 beds, kitchen + 1 reception + garage. Total area 1717 sq ft inc garage. With terrace + burglar alarm

Unit 2, 'garden floor', 2 beds, kitchen + 1 reception + garage. Total area 1725 sq ft inc garage. With terrace + burglar alarm. Priced at £700k

Unit 3, ground floor, 2 beds, kitchen + 1 reception. Total area 1231 sq ft. With tiny balcony + burglar alarm

Unit 4, ground floor, 2 beds, kitchen + 1 reception. Total area 1316 sqft. With tiny balcony. Priced at £565k

Unit 5, ground floor, 2 beds, kitchen + 1 reception + study. Total area 1453 sq ft. With terrace + burglar alarm + private parking through electric gates

Unit 6, first floor, 2 beds, kitchen + 1 reception + study. Total area 1420 sq ft. With tiny balcony + tiny terrace

Unit 7, first floor, 2 beds, kitchen + 1 reception + study. Total area 1476 sq ft. With 2 tiny balconies + tiny terrace

Unit 8, first floor, 2 beds, kitchen + 1 reception + study. Total area 1476 sq ft. With tiny balcony.

Unit 9, first floor, 2 beds, kitchen + 1 reception. Total area 1185 sq ft.

Unit 10, second floor, 2 beds, kitchen + 1 reception + study. Total area 1420 sq ft. With tiny balcony

Unit 11, second floor, 2 beds, kitchen + 1 reception + study. Total area 1410 sq ft With 2 tiny balconies. Priced at £645k

Unit 12, second floor, 2 beds, kitchen + 1 reception + study. Total area 1429 sq ft. With tiny balcony + tiny terrace

Unit 13, second floor, 2 beds, kitchen + 1 reception. Total area 1185 sq ft. With extra-tiny balcony. Priced at £450k

Unit 14, third floor 'penthouse', 2 beds, kitchen + 1 reception + garage + study/bedroom 3. Total area 1984 sq ft inc garage. With extra storage all around, plus 15' ceiling in lounge, and 10' in master bedroom

Unit 15, third floor 'penthouse', 2 beds, kitchen + 1 reception + garage + study/bedroom 3. Total area 1879 sq ft inc garage With extra storage all around, plus 15' ceiling in lounge, and 10' in master bedroom

If you look at the design, http://www.rydon.co.uk/rydonhomes/assets/h...ce_develop.html

the house has not got nearly as much land as you would imagine - houses are on each side.

Looking at the prices, I reckon unit 1 should be about £700k, unit 3 perhaps £525k, unit 5, perhaps £650k, unit 6, £625k, unit 7 £645k, unit 8 £605k, unit 9, £450k, unit 10 £625k, unit 12, £680k, unit 14, £1.2m, unit 15, £1.2m

Total, about £16.5 million.......

And they built it on the space of two normal detacheds, which go for about £800k there.

Nice work if you can get it.

Still, can't imagine moving to sevenoaks and spending £700k on a flat, rather than staying in one for the same money in say Chelsea, or alternatively getting a 5-bed place with its own garden for £580k http://www.rightmove.co.uk/viewdetails-125...=2&tr_t=buy

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When the property market is in a frenzy this works well: flats can be sold to investors for values totally at odds with what any reasonable person might consider a "fair price" - after all, you just can't lose.

Closer inspection however as you mention reveals there is much more property to be had for the same money. Do a postcode search on just about any area and quelle surprise, flats look like a poor investment.

A typical example in Blackpool might be: 2 bed flat 250k, 4 bed detached one mile away: 195k, 3 bed semi 145k.

It just isn't sustainable, unless 2 bed flats became more desirable overall than 4 bed detached houses.

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along the same lines but no so grand a scale

http://www.unique-enterprises.co.uk/reside.../100005009.html

this is sort of in my area;

basically a 3 bed semi, ex council, others in the same road selling for about £150k, this has been knocked into 3 flats, I'm guessing the rent for each would be not more than £500 pcm if you were very lucky.

Not much of an investment as I reckon the money would earn as much in a bank account.

I would say that the people selling this development always have a cup that is half full, never half empty.

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  • 301 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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