How To Keep Your Property Development Pipeline Flowing
Last updated 31/07/2018
You have dipped your toe into the warm waters of property development and now, you've realised you need to know how to keep things moving while you're making making big waves.
Read on for our guide on how to keep your property development pipeline flowing.
Always have your eyes open
You may be happy with the returns your property portfolio is currently bringing in, but you must always have your eyes open if you want to keep your property development pipeline flowing and growing.
Register with the estate agent websites, scan property auction brochures and keep up to date with the latest trends and new legislation. This will give you an great idea of the current market and you may just snap up a property you would not have seen otherwise.
You can easily build up a network of those who could help you spot and grab a great deal all with some simple networking. Go in and make contact with your local solicitors, councillors, builders, accountants, estate and lettings agents.
They are likely to know of new upcoming developments and will often be the first to know of any properties that are about to go on the market. Reaching out and leaving your details could mean that a tip off may come your way, helping you to keep your property development pipeline flowing freely.
Industry networking events and unique training days are also a very effective way to keeping your contacts growing and your development options flowing with fresh leads.
Money, Money, Money
- Are your finances in order?
- If an offer drops into your lap that is too good to be true, are you in the current position to finance it?
- Would you be accepted to get a new mortgage or bridging loan?
- Could you move quickly in order to secure the deal and keep your property development pipeline flowing?
Keeping your finances in check and paperwork in order will allow you to snap up those deals quickly.
Now, you have mastered one development it may seem like a jump to go on to have multiple property developments at once.
The truth is that a lot of capital can be tied up in the house until you sell it, or begin to start renting it out.
Having more than one development on the go is a way to keep your property development pipeline flowing as you should be able to rely on the sale or rental yield of any one property at once which gives you the finance to fund other developments.
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