dannyboyracer
01-09-2006, 16:59 PM
I am in the process of purchasing 2 properties in Leeds with view to apply for planning permission, demolish the properties there are present and erect 8 - 10 flats of very good size. Flats within the area are selling in excess of £280k. Profit wise were looking at somewhere in the region of £2M (but that is a very rough estimate as we havent yet any plans and are taking a rough guess based on plans of similar flats within the area and calculating a development cost based on a set price / sq foot).
My only problem at the minute is im maxed out for cash as I have monies tied up in these properties as well as various other smaller developments. I am however looking for an investor who would be looking to put in at least £600k towards the land and provide at least 30% of the build costs.
Myself and my business partner would be willing to sell the land with planning permission at an agreed price but would prefer to be involved on the actual build as well and thus make a piece of the profit at the end.
Im hitting a brick wall with regards banks and bridging finance loans are too expensive. Does anyone know of someone or organisation that I can perhaps talk to?
Regards,
Daniel
My only problem at the minute is im maxed out for cash as I have monies tied up in these properties as well as various other smaller developments. I am however looking for an investor who would be looking to put in at least £600k towards the land and provide at least 30% of the build costs.
Myself and my business partner would be willing to sell the land with planning permission at an agreed price but would prefer to be involved on the actual build as well and thus make a piece of the profit at the end.
Im hitting a brick wall with regards banks and bridging finance loans are too expensive. Does anyone know of someone or organisation that I can perhaps talk to?
Regards,
Daniel