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    Currently at home,, so watching day time tv. *They make it look so easy making dosh out of property. *But what do they mean when they say a profit less the usual fees and tax? *What exactly needs to be taken off?*
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    (Original post by Simonthegreat)
    Currently at home,, so watching day time tv. *They make it look so easy making dosh out of property. *But what do they mean when they say a profit less the usual fees and tax? *What exactly needs to be taken off?*
    Well the seller will have to pay the auctioneer or property agent for dealing with the legal side of things e.g. changing title deeds officially etc. Then you have certain taxes that have to be paid on large amounts of money. IDK why.
    I like Homes under the hammer, but sometimes they completely destroy a place and it's sad to see them eliminate character for a profit.
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    (Original post by BobSausage)
    Well the seller will have to pay the auctioneer or property agent for dealing with the legal side of things e.g. changing title deeds officially etc. Then you have certain taxes that have to be paid on large amounts of money. IDK why.
    I like Homes under the hammer, but sometimes they completely destroy a place and it's sad to see them eliminate character for a profit.


    Yep agree with you. *Very impressed with the quick turnaround time they give themselves to do the project. Some of quite ambitious. Do they ever make a loss? Not seen an episode where that has happened.*
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    (Original post by Simonthegreat)
    Yep agree with you. *Very impressed with the quick turnaround time they give themselves to do the project. Some of quite ambitious. Do they ever make a loss? Not seen an episode where that has happened.*
    I don't think I've ever seen them make a loss except for one guy who bought a package of land assuming he could convert it to bungalows and get road access to it. He was denied the road access so there was no point in converting the land and he left it empty. But normally if they do it up and sell it on they make a profit, even if it's a slim one. I did see one where they decided to keep it as a business instead of selling it on ( they converted 2 shops into a seafront hotel) but I don't suppose that counts as a loss.
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    Might be good for them to show one where someone has not done well out of it. It creates a false impression *in that people like myself think it is easy stuff to do and hard work pays off . *Guess it wouldn't make good viewing figures.*
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    Hooked to this show now. Really want to have a go at doing something like this but not enough for a deposit. Any ideas how I can follow this through like in the show?*
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    Get a job? I've seen some people pay as little as £10k for a property so it can't be too hard to save for a cheap one and use profits to fund the next project? Of course you could always try to find something tiny and convert it, have you ever seen George Clark's amazing spaces, basically all about a guy who visits different people who've cleverly converted something tiny into a functional home etc. You could try doing that then moving on to cheap homes then onto more expensive ones?
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    Can you really do it with just 10k? *How is that even possible? *Fees alone I guess would be about that much. *I haven't seen that other programme. Is it still on and which channel?*
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    (Original post by BobSausage)
    I don't think I've ever seen them make a loss except for one guy who bought a package of land assuming he could convert it to bungalows and get road access to it. He was denied the road access so there was no point in converting the land and he left it empty. But normally if they do it up and sell it on they make a profit, even if it's a slim one. I did see one where they decided to keep it as a business instead of selling it on ( they converted 2 shops into a seafront hotel) but I don't suppose that counts as a loss.
    The closest ive seen was the odd house where- according to the valuations- it would be touch and go as to whether they would either break even or make a tiny profit (i.e. like £1,000, so hardly worth the time and effort) and rather than sell the place on they rented the place out instead.
 
 
 
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