Nigel Wood Posted January 30, 2008 Report Share Posted January 30, 2008 Hi all I want to do a course on property investment / development specifically around BMV opportunities. My research shows that there are many courses available, however I also understand that some of these courses are not very good and I could be wasting my money. I am looking for a presenter that not only offers a course but could also provide post course mentorship and specialised resources support such as bridging finance, surveyors, solicitors and mortgage lenders. I am aware that Glenn Armstrong is one such presenter, however I cannot align myself with him since I live in his area and this would be a conflict of interest for him. I checked. If anybody out there could make some recommendations for me to evaluate I would be most grateful. Sincerely N Link to comment Share on other sites More sharing options...
pugsy Posted January 31, 2008 Report Share Posted January 31, 2008 Yeah, well my recommendation is... don't do it!!! Everything you need to know is out there on the internet on websites and forums. You don't need to pay for any of this. Just start reading the boards and once you absorb the information, start posting (hopefully, partially informed) questions. Some forums have specific BMV threads for example, that would take you weeks to read. Initially, buy a few property magazines, or a book or two, research property tax and finance thoroughly. You're looking at weeks of research, but fire up the broadband and embrace it. Me, like most of us landlords here are constantly on the computer, constantly learning, researching. My advice would be to always do your own due dilligence, esp. in the 2008 market. Link to comment Share on other sites More sharing options...
Matthew Posted January 31, 2008 Report Share Posted January 31, 2008 I agree with Pugsy on this. These people are just there to make money out of you, they introduce you to lots of other middle men, and generally tell you lots of lies in order to brain wash you into buying a 2 bed new build flat for £300k with no deposit (and tell you you got a huge 20% discount - well done you!). You then try to rent it out at £1,500 as per their advice, only to find that actually people will only pay the same rent for a newbuild falt as they would for a traditional conversion = £800. Result, it stays on the market for ages until you bring the price down to £800. You subsidise it for years until you no longer can. You try and sell it and find that although most house prices have doubled in the last 5 years, yours is actually only worth £200K. In the current environment with little prospect of House price increases in the next few years, it will be even worse than this. This is in my opinion FRAUD and I think Panarama are doing a program on this next week. Try and avoid paying anyone for anything. To make money in this game you need to minimise purchase costs, not maximise them by paying middle men huge sums of money....you won't get it back at the end of the day. Link to comment Share on other sites More sharing options...
Molly's dad Posted January 31, 2008 Report Share Posted January 31, 2008 Some forums have specific BMV threads for example, that would take you weeks to read. Initially, buy a few property magazines, or a book or two, research property tax and finance thoroughly. I would agree - don't do it IF you have the time. I have a fulltime Company, work 1 week on 3 or 4 overseas, got 2 kids and deal with my property portfiolo in my spare (what???) time. I therefore couldnt afford the time to spend weeks trawling the PPM and SP's of the internet - so I spent £300 odd on a DIY manual. If I spent 100 hours trawling the net learning this, then effectivly my time has cost me £3 per hour. Horses for courses. If you dont have the time and have the cash - go for it. If you do and dont - then dont. I can reccomend Rialto's manual on Singing Pig. Bought it 12 months ago and did 6 BMV deals very part time last year. I still have to spent time keeping genned up and learning how to deal with this sit, or that. But I have a grasp of BMV in a very a-b manner. Link to comment Share on other sites More sharing options...
simonbaldry Posted February 4, 2008 Report Share Posted February 4, 2008 Hi An estate agent friend of mine was approached by a client, who told him that he wanted to beome a property develover, and wanted to know how he could start up. Well said my friend do you know where Rymans is ? Yes said the client! First said my friend, go there buy a big brown envelope and then go to your bank, stuff as much money as you can possibly afford into it and then give it to me! Look I think the point is don't pay people for pointless ripoff courses,where you end up with new build props that even if you could swing a hamster in they would probably break down the walls. Source a good one bedroom flat, on the first floor of a converted building, in a good area close to transport and the town centre. Make sure it has a good size bedroom, large lounge,seperate kitchen, GCH, double glazing, Share of freehold, off road parking. There is always a need for properties like this in every town in Britain, you just have to work out if the rent is going to cover your outgoings. Link to comment Share on other sites More sharing options...
cat77 Posted February 11, 2008 Report Share Posted February 11, 2008 as well as singing pig,what other property forums are there? There was one which was run by an asian guy but cant remember the name,there is also a monthly fee.Does anyone know the name of it? Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted February 12, 2008 Report Share Posted February 12, 2008 Free course right here ... 1. Look at 100 props in target area-Make NO offers ...you will then be an expert on prices. 2. Now start making offers ...20-40% below MV 3. Buy then either rent improve or sell it 4. go to no 1 and do it again and again .....and then again Invoice will be in the post for training session !!!! Seriously .....spend some time ...like every spare moment you have reading prop forums .....google property forums for some more .............there is enough on this one to get you to near expert level ....wih free online advice from many willing, experienced and able people ....just read past threads ......... There is no secret to BMV prop ....you just need to find sellers motivated enough to sell a bit cheaper than "the rest" this motivation has many sources : Divorce, death, emploment relocation, bridging finance, emigration, debt, repossesion, broken chains, downsizing ,upsizing, illness, disbility, redunancy, and many other reasons. Look at 100 props and i will personally guarantee you that there will be at LEAST one VERY motivated seller in there .... Now presumably you were only looking for ONE !!! ( at a time ) S Link to comment Share on other sites More sharing options...
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