How to Find a Good Builder and Development Mistakes to Avoid — Chris Dornan

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SHOW NOTES

ABOUT CHRIS

• Chris is a property mentor and has been working 18 years in the building industry
• He began as a carpenter before starting his own building company
• Experienced in new builds, extensions, high-end refurbs, commercial refurbs and conversions
• Operates 23 SA units with Tsen Warton— Adaero Property

KEY TAKEAWAYS

• Write your goals and a plan of action
• Create a solid morning routine: exercise, nutrition, education and time with your family

HOW TO FIND GOOD BUILDERS AND TRADESMEN

• Ask Architects in the area who are working on similar projects. Check what projects they’re posting on Facebook
• Recommendations from your property network
• BNI is based on word of mouth referrals, so these are usually a good source of tradespeople.
• Local councils usually have a trusted tradesmen website

HOW TO AVOID PROBLEMS WITH YOUR BUILDER

• Always ensure you have a JCT contract with your main contractor
• Either you create the contract or hire a Project Manager create it and  supervise the development
• Aim to have one point of contact to manage the development

COMMON DEVELOPMENT MISCONCEPTIONS

• A lot of people want to know the average cost per square metre to use when analysing a property for development. It doesn’t exist
• Costs vary according to the area and the specific property

HOW TO FIND AND DEVELOP COMMERCIAL PROPERTY

• Auction websites
• Local Commercial Surveyors and Agents
• https://propertylink.estatesgazette.com

DEVELOPMENT MISTAKES TO AVOID

• Think about your end-user before you start a development project. What is the exit plan and what would they want? An HMO is going to look very different to a family home
• Analyse comparable properties in the area
• Check the floor plan or measure and make your own. Look at window positions so you can work out usable configurations
• Know your numbers — analyse the anticipated financials and ensure there is a contingency fund

SPLITTING ROOMS TO ADD VALUE

• Average cost £1,000
• Are there 2 windows to provide an easy division?
• Aim to have south-facing living rooms and kitchens
• Consider combining rooms to create an open plan kitchen living room

FAVOURITE QUOTES

“It’s Not How Good You Are, It’s How Good You Want To Be”

“Always do more than anyone can reasonably expect of you”

CONTACT OR FOLLOW CHRIS DORNAN

http://www.devenirplus.co.uk

http://adaeroproperty.com

Instagram:

@chrisdornan82

@adaeroproperty

BOOKS CHRIS RECOMMENDS

• The Success Principles: How to Get from Where You Are to Where You Want to Be — Jack Canfield https://amzn.to/31XJ5Wp
• Rich Dad Poor Dad — Robert Kiyosaki https://amzn.to/320qCZo
• 6 Months to 6 Figures — Peter Voogd https://amzn.to/3iJhluy
• The 10X Rule: The Only Difference Between Success and Failure — Grant Cardone https://amzn.to/2W0q1TU
• The Rise of Superman: Decoding the Science of Ultimate Human Performance — Steven Kotler https://amzn.to/2O8n7YI

WIN THESE 7 LIFE-CHANGING BOOKS – FROM CHRIS & TSEN

https://sociali.io/lp/94952/BookBundleGiveaway

Competition ends Thursday 16th July 2020

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Best wishes, George Choy & Sarah Choy
Property Investors & Financial Freedom Experts

By George Choy & Sarah Choy | 17 July 2020