UK Landlord Forum / Life

Hmmmm...was it just me, or were these developers working for peanuts? I don't know if their efforts were worth it. In fact, I don't think I would go through the trouble both sets of developers went through for the return they got.

Property 1 - Mansfield





In Mansfield, Nottinghamshire part-time bouncers Danny and Sean are taking on a 2 bedroom Victorian house.

My thoughts:
- these guys were a pair of monkeys, literally. They didn't have a clue.
- they seemed so moody. I don't know how Sarah worked with them. Completely unapproachable from what I noticed. Everytime Sarah said something they didn't agree with, I thought they were going to punch her in the face.
- the most experienced handyman was working his usual jobs through the majority of the development, while the inexperienced chimp was left to make a mess. What kind of people work like that? Monkeys. Development is a full-time commitment, or at least it should be.
- When the inexperienced chimp ignored Danny's advice about getting professional help for the tiling and outside door, I was thinking, "you idiot!!!!" I would have been so angry if I was Danny. But then again, if Danny was around...
- the margin for profit was ridiculous. They bought the house for 58k, with a 8k budget. They planned on selling for 80, which leaves a profit of 14k between 2 people. Worth it?
- the finishing of the property was embarrassing. Paint was all over the place- pipes, light switches..etc.
- the kitchen was so narrow, and there were exposed pipes, that were half painted.

The chimps remained close to their budget; it jumped to a mere 11k, which isn't bad, as we Property Ladder fans know. But they stuck to their budget at a cost- a lousy finish. The moody chimps ended up getting an evaluation of 177k, which would leave them with an 8k profit, 4k each. For 5 months work, pathetic. They ended up renting the property out...


Property 2 - Telford





- firstly, the property was awful. I wouldn't have even bothered buying it, especially with the low rate of return they were expecting. The property was purchased for 210k, with a budget of 35k, and they expected to sell at 280k, leaving them with a 35k profit.
- this project was done by 4 people. That's insane. I would never get into such a small development with so many people involved. Again, that's a 4 way split, meaning they were aiming to get just over 8k for 3 months work.
- I liked the fact they listened to Sarah beeny's advice. They weren't the typical "know it all" developers. They actually listened.
- to be honest, I didn't think much of the exterior paint job. It made the property look kinda' cheap(er)
- I thought the interior design was extremely appropriate. Everything was well finished (not too over the top) and the staging was also cost effective and pleasing.
-I liked the decking because of the view. Of course, an idea by the Beeny.
- the project manager and his wife went on a 3 week holiday during the development. That pissed me off. That's such a stupid thing to do. Why would you do that? It's a costly move (which they paid for, because the completion date was prolonged). Like I previously said, development is a full-time job, and you need to make sacrifices during one.

Their budget ended up at 59k, and they got evaluations between 280k-310k. If they reached the top end evaluation, they would stand to make a 10k profit each after 3 months. It's not bad, but is that enough after a full development? Maybe I aim too high. The profit margin was there, but not if it means 4 people get an equal share. But then again, i guess the risks are minimise when more people are involved.

Your thoughts?

The two guys in Mansfield .. omg what a pair of thickys.
And the finish was awful !! Id be actually embarassed to show people that kind of house .
The kitchen was ergh ... the stupid electric fire ... was just ... yeh ... STUPID

They where just Stupid Heads



The 2 couples in Telford .... did quite a good job ... but yeh I agree with you faggie . The property was awful .... awful exterior .. awful gardens ... aweful layout .... Aweful aweful .

They did the best they could with an awful house really .
But they did actually pick the house ... so there for they are Stupid heads too.

haha, yeah, what a pair of thickys!! They were just chimps that grunted now and then!

And did you see how they managed their accounts? They just collected receipts individually, and at the end of it they'll reclaim their individuals costs! Thickys!!

Hey
Well the two guys where crap, but they used it as a learning curve rather than anything else, so fair play to them.  I remember my first flat, i thought i did a wounderfull job on the place, but looking back it was total crud.
My ownly prob was the face that one of the guys was a pro chippy and should have done more on the finishing.

You guys are going to hate me for this.
I loved the Telford house, I love Telford full stop.  The house i would have brought no problems, my ownly prob with it was the window left of middle on the front.  They made a typicle 70s house into something great.  It was a shame they couldnt do more to the place, like proper balconys and a porch/loo on the front, but for what they had and the restrictions i say well done

The Telford Gang listerned to everything the Been said, this must be a first, i think they will do well if they wanted to carry on.
The guys, well they are only ever going to do little stuff for small profit.

Yes the recipts, haha, way to go. i bet you any money the end wall is damp aswell.

Quote from: Badger on November 28, 2007, 09:03:16 AM


You guys are going to hate me for this.
I loved the Telford house, I love Telford full stop.  The house i would have brought no problems, my ownly prob with it was the window left of middle on the front.  They made a typicle 70s house into something great.  It was a shame they couldnt do more to the place, like proper balconys and a porch/loo on the front, but for what they had and the restrictions i say well done

The Telford Gang listerned to everything the Been said, this must be a first, i think they will do well if they wanted to carry on.
The guys, well they are only ever going to do little stuff for small profit.

Oh Badgey!

But anyways, I think it was one of those properties where you can over develop and lose money, just because of the location and the value of the other surrounding properties. I don't think the balconies would have added much value, if any.

Like my mum always says, you can't put a diamond on a piece of brass and expect it to look like gold. That's why she never buys me armani 

lol, hey i would have brought it to live in, i love itititititititititititit lol.

Those two meatheads reminded me of us, badgey

lol, yes fag you could be right son , you could be right, ummmm whos whos though dude !. i will be the one with the big tits you be the one with the glasses, or are you talking about the chaps lol

I'm the moody one on the left

You can be the one with less muscle on the right hah!

Thick beef cake eh, thanks bud, i know my spelling aint that good but but but, why do you get to pick, still the one on the right has a much bigger penis than the one on the left so there ha small fry

That one on the right looks a bit like Freddy Murcury.


V

It has been said V when i don my black teddy

I've heard it called some things, but .....


V

Lol, i need a doctor if thats the case

There's some things you and the pfag should be keeping under wraps 


V