In this episode, Shaz takes us through the whole development process from identifying your ‘gold mine’ area, through purchasing and redevelopment to the final outcome for the property.

Using a live redevelopment project with a Grade 2 Listed building that he has recently completed Shaz explains exactly what he has done to move the property from viewing to having new tenants.

This is a great opportunity to hear about a project and the importance of building positive relationships to ensure you get the result and outcome that you want.

 

KEY TAKEAWAYS

• Decide on a gold mine area for you taking into account distance, supply, demand and property availability.
• A detailed appraisal  will provide information about refurbishment/ redevelopment costs, interest costs and contingency costs
• If all the numbers stack up the question will be should be will you pay the asking price, a bit less or a lot less?
• Look for possible grants and always have a clear exit strategy.
• Tax is a major consideration when purchasing property and it’s a significant factor but not the only factor.
• It’s imperative you have a good contractor and it can be helpful if they have worked on similar contracts previously.
• Having a good project manager to keep everything on track is vital along with good funding.
• It’s extremely important to work closely with the planning department.
• Grade 2 listed can be more challenging but they can also bring more joy.

 

BEST MOMENTS

‘I always consider would this be an area I would live in? If I would be happy living there I like to think most people would be happy living there’

‘If you can make a property nice you can attract tenants who will look after the property’

‘If it’s a good deal then just purchase it so you don’t lose out’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.