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26th September 2023, 15:48 | #1 |
This is my second home
Rover 75 Saloon & Tourer Join Date: Sep 2012
Location: Lincoln
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Making money
I'm sure we all like to make money.
In 2021 my wife and I went after this place https://www.rightmove.co.uk/properti...hannel=RES_BUY but it was sold to someone else Picture 2 has a red outline of what is for sale, when we went after it the area and 2 buildings that are to the south of the red outline were also included. The whole lot was sold for about £460,000. In my opinion the buildings for sale are unsafe so it is a knockdown and rebuild or reinforce and some rebuild. The farmhouse to the south suffered damp and smelt of it and apart from a new kitchen the place needed gutting. Here and now the outbuildings are for sale for £325,000 That leaves the farm house having costed only about £135,000. Add £100,000 for renovation and you have a decent place for just £235,000, lets call it £285,000 that could be sold for perhaps £500,000 plus. The "current" owners will need to pay some money to the previous owners as there was a clause that if they got planning permission they had to pay a % to the old owners. I am sure the the money to be paid to the old owners is less then £100,000. good luck to the "current" owners if it all comes off. macafee2 |
26th September 2023, 16:11 | #2 | |
Posted a thing or two
Rover 75 CDTI Tourer Join Date: Nov 2014
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Quote:
So what are you suggesting? The point of the post? Last edited by another_clean_sheet; 26th September 2023 at 16:15.. |
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26th September 2023, 16:39 | #3 |
This is my second home
Rover 75 Saloon & Tourer Join Date: Sep 2012
Location: Lincoln
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26th September 2023, 19:23 | #4 |
Gets stuck in
MG ZT 260, Rover 75 Connie SE auto Join Date: Feb 2013
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How to make money is the $64000 question. Buy low and sell high is what any trader hopes for, so you have to take a chance that you can find a buyer who will pay more than you paid. It's knowledge of the proposed product or goods and the guts to take the risk that your offering will appeal to others. Would be entrepreneurs often go bankrupt trying to make a profit. It's rarely a smooth ride. Some 70% of new restaurant start ups for example fail within two years. A huge added risk is if you borrow money to start a business or buy something like a property with a view to flipping it. There is a large industry devoted to 'how to start a business / make a lot of money/ etc' which often takes advantage of the lack of experience of ambitious wannabees. Richard Branson was asked how to be a millionaire running an airline. His response 'start off as a billionaire' has a wry warning for would be business owners. It's easier to lose money than make it in many cases. This is also the reason why so many councils are going bankrupt. They should stick to taxing businesses and stop trying to run them.
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27th September 2023, 06:20 | #5 |
Posted a thing or two
Rover 75 Saloon Join Date: Mar 2014
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Ian this is a car club as Mike has said another pointless post from you about a place at Rampton, Perhaps you should have bought it
Dave |
19th January 2024, 19:00 | #6 |
Newbie
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Making money is not that easy
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19th January 2024, 19:37 | #7 |
This is my second home
ZT260 #243 (resting) Join Date: May 2010
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In order to make money you:
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20th January 2024, 17:21 | #8 |
Newbie
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I agree that it is better to be ready for failure. I think this is why it is advisable not to use your personal finance for business. But it seems it depends on how much money you have
I've been thinking about quitting my office job and starting a business for several months. I've already found out the pros and cons of the private limited company, how to check if a business name is available for free (here this article https://www.hoxtonmix.com/blog/a-guide-to-checking-your-company-name/ helped me a lot), how to set up a virtual office, what address to use, etc. But still, it all is frightening because I'm going to invest my money. However, some people advise me to take out a loan. Last edited by Gelen; 22nd January 2024 at 07:24.. |
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