My dream - Property Development

I would like to raise a deposit to buy my first property in Edinburgh so that I can develop it and sell it for a profit and then do it again

About me

 

My name is Callum Sutton and I am an aspiring entrepneuer in Edinburgh City Center aged 22. Since I was very young I have been very interested in making money and sold greeting cards at the end of my street to make extra pocket money. As I got a bit older I started a eBay business selling Kids toys. I saved up any profits I made from this and then took my business plan to the Princes Scottish Youth Business Trust to receive a business Grant for young entrpenuers. I was awarded the maximum grant despite being 2 years younger than the minimum age of 18. I was told I was an inspiration. I used my Grant to create a website called Hubot Toys, which taught me a lot of useful lessons in business. Recently I have attend a Business Management HNC course at Edinburgh Colleage and I closed down Hubot Toys because it was affecting my Studies. This was the right move because I graduated from colleage with a A as my final grade. I am now looking to use my business knowedge to manage the development of a property in Edinburgh.

Project Aim

I would like to raise a deposit to buy my first property in Edinburgh so that I can develop it and sell it for a profit and then do it again

About the Project

I wish to buy a property in Edinburgh at a price which will allow me to make a profit after renovating any parts of the property that needs upgrading. I am looking to do this as my future career and once i renovate my first property I would look at buying my second and so on. This £20,000 will act as a deposit and will help finance the renovation. Any additional funds will come out of savings.

 

My skills for this project are carrying out the maximum amount of research to make sure I find a property which will make me the highest level of profit. I will negotiate the property for the best price and search around for cheap but quality fittings and find skilled workmen for the property. Anything I can do myself I will do to keep costs down. My father it very talented in the DIY expertise and will carry out task which he is comfortable with that I am not but I will learn from his skills. My mum is also talented in areas of DIY such as wallpapering and tiling. I would wish to learn these skills from her. As well as my parents my brother is a apprentice electrician which a big contracting firm in the UK who would be happy to help for a small fee.

 

I wish to do this as it will allow me to start my career path in something which I am passionate about. Once I have capital behind me I would be hoping to aim in keeping the properties as assets and letting them out as holiday lets. This will allow be to build a property portfolio.