Starting a Property Business EP 3 Goldmine Area & Contractors
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Show Notes
Deciding on your goldmine area, the place you want to focus your attention on for property development is key and there are a range of factors to take into account. Shaz shares what you should consider whilst always understanding that ultimately it’s all about whether the deal works for you and the end value and appeal to others.
To refurbish or redevelop a property as a property developer means you need to also find the right contractors to work with, building a team that you are happy to work with on a regular basis as your business grows.
KEY TAKEAWAYS
- You need to decide how far you want to travel.
- When deciding on your goldmine area consider –
- Market demand and purchase prices
- The location, relevant to recreational areas like parks.
- The proximity of schools, bus and train routes and places of worship.
- Other developments being undertaken or planned in the future
- If your projects are in the same area you can use the same contractors
- When contractors are in a local area you can see previous work
- Get testimonials from their previous clients and customers
- Take your time and choose the right contractor because you will potentially be offering regular work.
BEST MOMENTS
‘Ultimately it’s all about whether the deal works and the end value’
‘I’d rather have 4or 5 projects in the same area’
‘Having my architect and contractors close by works for me’
VALUABLE RESOURCES
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: