General (main property discussion here) - Renovations

as some of you may know I came into a bit of money and obviously I am interested in property.

I am interested in going into the buy to let market but I think the best way to raise money fast would be refurbishment.

has anyone had experience of this? A few tips would be very helpful. There are two houses a stones throw away from me that are derelict.

How do I find out who owns them?

How would I then make an offer?

Any advice would be very much appreciated.

Frank - I would work out what my objectives of investment are. In my case I inherited money 5 years ago (possibly like yourself) but my aim was to preserve wealth rather than try (and possibly fail badly) to double it in a couple of years. This was more for sentimental reasons than anything.

Refurbs I haven't gotten into, but I agree there does seem much more scope for a markup. However, the first is definately going to be the worst / least profitable, as you'll have comparatively no contacts, experience of project management, etc. My advice (without personal experience) is start small, only wager a small portion of your equity, and see how it goes.

cheers

John

Thanks John

Just to let you know I got compensation after an assault.

I think the refurbishments would take all of my money if not more, raised through a loan more than likely.