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Property Ladder: 4th December- Clevedon & Surrey

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Author Topic: Property Ladder: 4th December- Clevedon & Surrey  (Read 12305 times)
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« on: December 04, 2007, 10:14:41 PM »

It's that time of the week again; let's get our claws out...

Property 1- Clevedon



Mike and Sally are hoping to maximize their profit by adding a large two-storey extension. Unfortunately, theyíre taking a massive risk with their finances to pay for it, with credit cards being an unadvisable means of financing a development.

Mike was keen to continue developing, so the paint's barely dry before he starts on his next project. Itís a combined shop and three bedroom house in Clevedon town that Mike is planning to turn into four one bedroom flats in just five months, and while his last property was a safe bet in a prime location heís now bought on a busy road, right next to a pub with a distinct lack of parking. Heíll have to do a great job to lure people to this location.



Property 2- Surrey



It's rarely possible to buy in such a jaw-dropping location. Take the part of Surrey where Tina & Craig have bought their 1930s art deco house. Itís a great property, but some would say the safest solution with this house is to bury its Deco style inside a more suburban exterior. People round here like more traditional family homes with pitched roofs, not leaky flat ones.

This house could be difficult to shift, but structural engineer Craig and his wife, Tina, have just sold their own home and invested two hundred and twenty five thousand pounds in the property.






I've not watched it yet, but what did you guys think?
Guest
« Reply #1 on: December 05, 2007, 10:35:22 AM »

I don't watch it but that Surrey house is beautiful. It'd be sacrilege to destroy the 30s looks.


V
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« Reply #2 on: December 05, 2007, 10:42:29 AM »

I haven't seen it yet either. I'll watch it tonight. But you're right, that house looks really nice.
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« Reply #3 on: December 05, 2007, 10:46:21 AM »

I AM NOT SAYING ANYTHING, But if i do i dont mean it and i am unstable in my head anyway so there.
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« Reply #4 on: December 05, 2007, 10:47:18 AM »

I AM NOT SAYING ANYTHING, But if i do i dont mean it and i am unstable in my head anyway so there.
What are you talking about?

Was it a good episode?
Guest
« Reply #5 on: December 05, 2007, 01:07:03 PM »

Didnt see it bud
Guest
« Reply #6 on: December 05, 2007, 02:20:20 PM »

I watched it !!!

But I was putting my christmas tree up ... so I missed abit of it ......

All I can say , the first guy mike ... got greedy you could tell . From developing a house to 4 flats is alot .

I think I might watch it again . On that thing you suggested !
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« Reply #7 on: December 05, 2007, 11:00:33 PM »

The Surry couple sold their house to get their development started. Would you ever take a risk like that? I wouldn't

I'm just watching it now...
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« Reply #8 on: December 05, 2007, 11:15:59 PM »

I like Mike and Sally; another rare couple that acually acknowledged the fact that Beeny is the expert, consequently took her advice about the room arrangement. But they're financing their products with credit cards. They have a 9 month 0% interest rate. They're hoping to sell before the 9 months so they don't pay any interest. 9 month's seems like a long time, but i'm not sure if what they're doing is outrageously smart....or dumb.

Tina & Craig, on ther hand, well, not that likeable, specially craig, he's a bit of a knob. He wanted to scrap the entire project because they needed an extra 17k to fit new windows. I could understand why he wanted to do that, but his attitude was horrible. And it's their own fault for not realising that the windows were crumbling apart! Urgh! And this couple wanted to be developers full-time...

They won't do well if they want to jump ship so easily. So that 17k blew half their budget :)
« Last Edit: December 05, 2007, 11:31:42 PM by propertyfag »
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« Reply #9 on: December 05, 2007, 11:24:30 PM »

WTF, I don't understand Tina & Craig. They're not developing a luxury property, but they want to spend 1k on a toilet and 1k on bathroom sink!

What the hell is that about?

Must admit, the suite looks f'ing amazing. But still, it's a development...They're 40k budget went to over 100k. What kind of craziness is that? They may as well not of bothered with a budget.

The major problem is that they tried to pitch a niche property (art deco) in the middle of a commercial family area. They got evaluations that meant they would suffer a 25k loss...hahaha. God. Their excuse was, "we like things done properly".

Well, sadly they failed to understand that they didn't do it properly, because they came out at a loss. Properly would have been developing a wicked house on a reasonable budget!!

While Sarah and Tina agreed that they wouldn't make good developors, Craig stopped sobbing over the bad news, chirped up and said, "well no, now we have room to improve, so we could be good developers"

Firstly, no shit you have room to improve and secondly, get real. If you can't even grasp the basics of budgeting and sticking to the needs of the local market, you don't have a hope in hell. At the end they decided to move in to the property and wait for an upturn in the market. Good luck, fools.

Too many cowboys on this show cater for their own taste. So annoying.
« Last Edit: December 05, 2007, 11:45:00 PM by propertyfag »
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« Reply #10 on: December 05, 2007, 11:27:45 PM »

Man, I can't keep up. There are too many school boy errors on this weeks show.

Mike and Sally planned shit without getting planning permission. They got a roof designed that was 1 metre below the required height, so they had to change their initial plan. Additionally, they fitted windows without getting permission from the local authorites. Talk about risky...

They went 50k over budget. But the house was nice, excellent finish. They bought the property for £320k, spent £127k, and sold for £550k, meaning they got a  £96k profit. I was pleased because they were decent, even if they did do something stupid like plan/build without planning permission. However, they rejected the offer, and decided to keep the property, whilst selling their residential property to find their next property. Cool stuff.
« Last Edit: December 05, 2007, 11:49:47 PM by propertyfag »
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« Reply #11 on: December 09, 2007, 05:44:48 PM »

The Surrey house IS wonderful !! Don't compromise those 1930's looks !!

cheers

simhar

Web: Properite Landlord Software - http://www.properite.co.uk

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