226 - Highs and Lows of Property Development

226 Highs and Lows of Property Development

In this Deals, Deals, Deals Podcast Series, we go Behind the Scenes on some of the UK's most Creative, Lucrative and Award-Winning Deals 🤩

Our guest this month is Steve Hammond who has been on Property Entrepreneur for nearly 2 years. Steve is based near Birmingham and discusses his career to date and how he started as a builder, working on clients projects and progressing to larger projects.

Steve has also just finished the National 3 Peaks challenge for the Property Entrepreneur Get Up Give Back campaign which is raising £125,000 for five cancer charities. Please see Steve's Crowdfunder link below if you would like to sponsor him.

On Property Entrepreneur, we discuss the three levels of Wealth, Cashflow, Profit and Assets. Doing developments to sell on is a profit play and you need to have your cashflow in place to get you through the developments as they can take longer and cost more than planned for, even with a contingency.

The numbers for The Barn:

•⁠ ⁠Purchased for £350,000

•⁠ ⁠Development Costs = £750,000

•⁠ ⁠Total Costs = £1.1m

•⁠ ⁠GDV = £1.535m

•⁠ ⁠Gross Profit = £435,000

•⁠ ⁠ROI = 40%

•⁠ ⁠£20k-£30k of VAT to claim back.

The Lodge numbers:

Purchased for £450k

Development Costs = £500k

Finance - TBC

GDV £1.2m

Want to contact Mark or his guests?

www.thepropertybrokerage.co.uk

mark@thepropertybrokerage.co.uk

Steve Hammond

GUGB: https://www.crowdfunder.co.uk/p/get-up-give-back-2024---cardio-v-cancer

https://www.facebook.com/steve.hammond.property

https://www.instagram.com/steve.hammond.property/

https://www.linkedin.com/in/steve-hammond-property/

Steve@newhome.co.uk

07899922556

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