Property Development For Beginners | Commercial Property Office Conversion To Residential
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- čas přidán 3. 06. 2019
- Getting into property development for beginners, can be a bit daunting. The best way to get started is to get going on a small property development to learn the ropes and gain that valuable experience.
In this video, first time commercial property developer, Lal Da Silva, shows us round his first commercial property development project where he has taken a small former office building and used permitted development rights to convert it into 3 flats.
The great thing about this site is that it is an office to residential conversion project in the South East of England purchased for £300,000.
In this video Lal shares many tips a learning points gleaned from his first commercial development project. A must watch for beginners looking to get started in commercial property development.
Many people were put off this building because they didn't understand the difference between a listed building and a locally listed building. Knowing the difference is key to finding a gem.
Great learning for anyone who is looking for the next step in their property journey now that residential buy to let is dead.
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Hi Ranjan when will be the next workshop?
I like the examples of the small developers making it a possibility for the many
Very under rated video, you explain things really well
Thank you Ranjan & Lal for the video. You fellas inspire a (nobody individual) like me that Dream can turn into Reality.
Thanks for posting this. Best of luck Lal and thanks Ranjan.
Thank you Sam
Love your videos Ranjan. 👍🏻
Going to see a lot of this now that many office are getting small with more home working
Congratulations to lal. Who was the bridgeing finance company for this project?
Excellent video as usual.
Thanks Terry
oooo interesting deal! I'm very close to wheathampstead
Damn your everywhere whats your view on commercial to residential?
@@jordanhtiffirg1990 It's great.
Well done, Lal. Can we see the finished project?
Haha Proper Tea....another good case study. When Lal says that be shopped around for Bridging and had a few lenders interested, was he revealing all the location and deal details up front? I’m always a little nervous about sharing specific address details for lots I’m interested in at auction! Perhaps I’m too cautious for no reason?!
It always brings a smile to my face when someone actually appreciates my attempts at humour!
To answer your question, the bridging lender can't really assess the deal without the address. Bridging lenders wouldn't have mush of a bridging business left if word got out that they stole peoples deals. In all my years I have never heard of this being a problem. (Although I do see a potential issue with private individual lenders who you may not know well.)
Ranjan Bhattacharya - Baker Street Property Meet Wow, that was a very speedy reply! I like the response SLA for your honoured subscribers 😀. I thought it was actually quite funny and surprised I’d not heard that before in my network!
Initially I felt the same as you say. However, of late I hear of quite prominent investors in the market who pay an estate estate a fee for finding them a deal and that’s on top of the estate agent being paid by the seller which I believe is a conflict of interest. This makes me think, where else in the market could this happen....unfortunately I’m a chartered accountant and former auditor by trade so have been re-wired to be professionally sceptical!
@@mba0073 that's been going on for years. Even today estate agents still take brown envelopes from investors.
Listed building........
and local listed building.....
I never knew the difference ...well..well
Good to know..
Happy to see you got something out of the short video
Thanks Ranjan and Lal really interesting, you are clearly both very talented. Are we talking about one to two years say to complete the project? Meeting building regs can be quite complex on a conversion like this so better not to rush I would think.
Actually it's nearing completion. Will be heading back there for a follow up video shortly
Rajan what’s you anticipation of upward extensions under PD?
This is great. Looking forward to seeing the finished result. Curious to know what the numbers look like around the cost to refurb
Thank you Ash for the comments
Hi Ranjan a planning officer has just told me my PD rights may be restricted because they’ve (not the national conservation boffins) designated the area (where my target building and project) a conservation area. This runs contrary to something you mentioned in this video. Can you help clarify?
Is there much opportunity to do this kind of project in Leeds?
What was the development cost for this project?
How do I find out if a property is locally listed vs nationally listed please?
check the historic england website to confirm if it has a national listing, which will be accompanied by a listing description
Where is this based?
@rajan Bhattacharya ,will there any issues while re-selling office to residential property.Can you list perks and cons of buying a office to residential property
No. All these were sold within months
@@ranjanbhattacharya-succeed7617 Thanks you .can you pls lemme know what are all the important things to check before buying office to residential converted flat
National listed ..
Local listed ...
can I know what is Lals profession?
I think you undestimate the decent builders, architects, trades... you can be good developers or investors but builder or tradesman is different job.
I seen many fake and silly mistakes, who come usually with poor management and quality of the work. Wrong materials ...
lal looks a bit uncomfortable
thanks for the comment.. not yet a public speaker working on that!
@@laldesilva8634 as long as your enjoying it mate that's what matters I wish you all the success in the world
He looks highly intelligent though.
Hi Lal did you find local builders? Still I couldn’t find good one.