While I have invested in property and renovated it (1 rented out flat and my own home) my current work for the business is primarily bathroom and kitchen renovations for homeowners. This is primarily to bring in a more stable cashflow that will be used for purchasing more property long term.
When we started we did anything, painting, small handyman jobs, fences, carpets, gardening, etc. But I ended up just concentrating on kitchens and bathrooms, as they are generally the most investment worthy home improvements a homeowner will want, which means larger profit per job and also they're more room to take away a homeowners problems. Typically if they project managed it themselves, they'd need to bring in a large list of separate trades. Labourers for demolition, plumbers, electricians, joiners, tilers, cabinet fitters, flooring fitters, decorators etc.
The people i hire, with backup from myself, can do everything the job needs, which means they only need 1 company to do it. We have a wonderful woman in the office that does all the customer service, we take away all the old crap we've removed, we help them pick the new bathroom suites and kitchens they want, etc. Its a full service. I think in America, the term for this is General Contractor, over here in the UK, its not typically used.
My advice for you, if you're starting from scratch, is to get some DIY skills to begin with, start with your own home. Try things, Youtube is the second best tool for learning anything in my opinion, only surpassed by actually doing it. If at all possible, whatever you are trying for the first time or are unsure of, try it, then pay a professional to inspect your work AS your doing it and sign it off at the end. Get them in before you start too. Any tradesperson that wont do give you advice that you're willing to pay for isnt worth knowing IMO. The ones that are, are the ones you hire when you do bigger projects that you need help on. Plus anyone that can explain their own job to an outsider, generally is pretty good at what they do.
I'd be able to give you more specific advice with more information, happy to answer any questions.
Thanks for this. I'm in the UK too. One of the things I was thinking of doing is buying a flat that needs work then selling it on or converting to buy to let mortgage. Ive heard getting three under your belt like this is a good time go full time on it. My problem is I'm in a full time job and I've got a one year old. I'd really like to use property as a way to become self employed and get out of corporate world.
What does your software business do (if you dont mind telling me!)
Also what's your profit margin on say a bathroom or a kitchen?
When we started we did anything, painting, small handyman jobs, fences, carpets, gardening, etc. But I ended up just concentrating on kitchens and bathrooms, as they are generally the most investment worthy home improvements a homeowner will want, which means larger profit per job and also they're more room to take away a homeowners problems. Typically if they project managed it themselves, they'd need to bring in a large list of separate trades. Labourers for demolition, plumbers, electricians, joiners, tilers, cabinet fitters, flooring fitters, decorators etc.
The people i hire, with backup from myself, can do everything the job needs, which means they only need 1 company to do it. We have a wonderful woman in the office that does all the customer service, we take away all the old crap we've removed, we help them pick the new bathroom suites and kitchens they want, etc. Its a full service. I think in America, the term for this is General Contractor, over here in the UK, its not typically used.
My advice for you, if you're starting from scratch, is to get some DIY skills to begin with, start with your own home. Try things, Youtube is the second best tool for learning anything in my opinion, only surpassed by actually doing it. If at all possible, whatever you are trying for the first time or are unsure of, try it, then pay a professional to inspect your work AS your doing it and sign it off at the end. Get them in before you start too. Any tradesperson that wont do give you advice that you're willing to pay for isnt worth knowing IMO. The ones that are, are the ones you hire when you do bigger projects that you need help on. Plus anyone that can explain their own job to an outsider, generally is pretty good at what they do.
I'd be able to give you more specific advice with more information, happy to answer any questions.