Alleviating the housing shortage

Alleviating the housing shortage

I am planning to develop uninhabitable properties in areas of Manchester and Birmingham into affordable housing for first time buyers.

Unfortunately, this project was not successful

As we all know, there is a shortage of housing in this country, however, a considerable number of currently uninhabitable properties exist that could be turned into affordable homes for first time buyers. My aim is to redevelop them and sell them for below market value. In order to attain the bridging finance needed for renovations, I require £25,000 underlying capital.

in case you're wondering how it is viable and sustainable. Most property developers who rennovate the kinds of property I will develop, take up to a 100% profit, but by selling the end property at below market value, I can still make 50% profit (to be re-invested in my next affordable home projects) and cut the price of the property by around 25%.