I note this as it may affect some lenders criteria. You could approach lenders directly if you have the time to research who can help you and how to meet their criteria or need fast money now it may be preferable, especially as you are new to this so have payday loans no brokers direct lenders the added complication of being inexperienced, to find a reputable finance broker who can guide you and will know who to approach and the best way to propose your requirement. They will also have relationships with lenders so will be more likely to achieve better terms for you given your situation.
Once you are established you may then decide to go direct to lenders or you may have by then built a really great working relationship with a broker whose role will be to ensure you loans usa achieving the best funding available to you as your experience and reputation grow. I totally agree with the idea of leaving the experts to sort the finance for your development while you use your skills to loans in richmond va complete the project. If you can borrow responsibly, leaving yourself some headroom, it might be an idea to spread your capital across a small number of projects (using debt to complete finance for the projects). But only if the figures stack up - dont take too many risks!
I own (along with 2 co-owners) a site in Catford (South East London) which is currently commercial.
We want to get planning permission to make the site residential, increasing its value, and then sell to a developer. What would the difference be in practice and are there any other options? On 2 sides are end-of-terrace houses and at the rear is a fairly new low-rise block of flats, on a site which was previously commercial.
Several other commercial sites in the area have also been converted to residential fairly recently there are now no other commmercial properties remaining in the immediate area.
I would suggest you speak to a local planning consultant familiar with the area in the first instance. They can advise on the viability from a planning point of view by researching local planning policies and suggest what schemes might be acceptable. You can then move onto drawing up the scheme with an architect. So their advice also needs to be taken with a subjective view as well... We agreed to use the architecture firm our co-owner wanted, and they in turn recommended a planning consultant they have a relationship with. We initially submitted a pre-application re: full planning but the council had concerns re: loss of employment.
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The prior approval is re: change of use from 2 commercial structures, to 4 x 1 bedroom apartments within the same envelope. The current structures are very dilapidated so loans usa loans usa I assume this would basically be knocking them down and building new structures within the same envelope - I assume this is allowed?! Our original plans were for 3 much nicer, larger, 2 bedroom apartments and (due to overlooking constraints etc) would still leave a significant area of landscaping and 3 parking spaces. Obviously the 3 options have pros and cons in terms of cost, time and the sale price. I think this perfectly illustrates the potential delays when looking at planning applications and redeveloping existing sites. Many investors would have fallen by the wayside due to your seemingly constant battles with the council but you have persevered and hopefully you will be rewarded.
Would you make a significant return selling the land as described in option one? Some investors are leaders and some are followers which can make it difficult to make a property joint-venture work.
However, as long as each partner brings in specific skills, whether this is finance or experience, there is no reason why it should not work. Even though all partners should have a say in the final investment decisions each partner should perhaps have more say in areas of their expertise. Personally, I think the word dominant should be replaced by a lead party whereby all parties still have a say in strategy but maybe the instigator of the project leads the way? As a sidenote, it is important that all details are covered in the initial legally binding joint-venture agreement so there are no misunderstandings. Generally there seems to be one lead party in a joint venture and one which is more predominantly focused on finance.
While this is not always the way, whatever the setup there is a need for each individual party to bring something different to the arrangement. So, no dominant party but I agree there may well be a leading party. However the legal pack was only uploaded late Friday afternoon. With this I have been unsuccessful in finding a solicitor to read the legal pack in time. Do you have any advice for me in terms of what to look for in the legal pack.
While it would be unfair to suggest that the UK holiday market is cheap there is no doubt that many people now choose to remain in the UK for their holidays. As a consequence, investment in hotels and guesthouses has increased significantly and with crowd funding options regularly available, it would be interesting to hear from those who have actually taken the plunge.
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I am surprised nobody thought of this earlier - was Airbnb the first?
This is why so many people are switching their BTLs over to serviced right now. Electronic cigarettes is a perfect example Great example. And to think the education system tells us that the government really just has our best interests at heart! I read somewhere many years ago that it is very hard to make money on larger hotels loans usa while you own them. We all know that any investment carries a degree of risk otherwise there would be no degree of return. However, have you ever contemplated early property development investment as opposed to completed developments?
This is a very interesting look at property risk and diversifying your portfolio to create a balanced overall risk. Even in stagnant markets, relatively early investment in property developments can still create a significant return. So we went for Prior Approval (Permitted Devlopment regulations) instead. Obiously this would loans usa mean submitting a new full planning application.
Surely this makes more interest free personal loan sense than them insisisting we build the smaller, uglier scheme which would house less people?
How would we go about this, has anyone experienced a similar situation? My understanding is that you can now go ahead and construct those new apartments once you get building regs approved, so no need for a full application for the prior approval scheme. My understanding is that you can now go ahead and construct those new apartments once you get building regs approved, so no need for a full application for the prior approval scheme. The prior approval is based on plans we submitted which are literally just outlines of roughly how the current buildings would be guaranteed payday loans no brokers divided into 4 small units. Also, the floor slopes upwards towards the year in the larger buildng so we want to level it, allowing a mezanine level for a bedroom at the rear of 3 of the units.
Rather than a chat with the council, I would look to see which property advisors in the past have worked closely with the council (and had success with planning loans usa applications) and approach them. They will likely have good contacts within the council and should be able to sound them out for you.
I doubt an informal meeting with the council would be possible but I could be wrong. You basically have to work with what is already there and make minimum external changes. Internally you can do pretty much what you like but I think adding a mezzanine floor would not be acceptable under pd. When considering a full application different aspects become material considerations which are not the case with a prior approval. These can include parking, bike and bin provisions, and others that you mention. I would get building regs cash today loan done on the prior approval even if you have no intention of doing the works as this will add value if you decide to sell. It may maybe that you simply cannot get approval from council to utilise the site in the way that you want. You can always appeal but this process can take up to a year.
I presume that any level of planning approval would increase the value of the land and the amount of funding which could be raised against it? I own (along with 2 co-owners) a site in Catford (South East London) which is currently unsecured bad credit loans direct lenders commercial. We want to get planning permission to make the site residential, increasing its value, and then sell to a developer.
What would the difference be in practice and are there any other options? On 2 sides are end-of-terrace houses and at the rear is a fairly new low-rise block of flats, on a site which was previously commercial. Several other commercial sites in the area have also been converted to residential fairly recently there are now no other commmercial properties remaining in the immediate area.
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