Property Tycoons ?

Tristancross50 · 19-04-2008, 01:04 PM

I have been reading online about these property tycoons worth millions and even billions and was just wondering does anyone know any famous property tycoons and how they did it.
I have read about the candy brothers are they for real or is there more to it than that ?
Also has anyone been sucessful in property themselves ?
look forward to your comments.

DSC · 19-04-2008, 04:21 PM

The Candy brothers are for real, a unbelievable increase in wealth but for many years people have been able to grow their portfolio without using any of their own money. There are many thousands of people who have steadily bought property over the past 10 years and know own millions of pounds worth of property each for which they may have put in £10,000 of their own cash. There is a bloke that started to buy garages back in the 90's last time I heard about him he owned over 300,000 and was a billionaire.

You can still make a lot of money in property but there is much more at stake as you don't want the bank repossessing your house. Also the banks are not that interested in lending money to you until your atleast 21 or even 25.

Tristancross50 · 19-04-2008, 05:08 PM

Thanks thats a good answer there will probably always be money in property.That story about the candy brothers was amazing what would you say was best having a portfolio or buying one modernising and selling on ??

DSC · 19-04-2008, 06:08 PM

I think you have to take each property on its individual merits. My overall strategy is to retain properties, the tenants pay the mortgage + more and you have a free house. However as I say to all the local agents anything is for sale at the right price.

Tristancross50 · 19-04-2008, 06:14 PM

Thats a good way to look at it may I ask how many houses you own ? also will the banks really loan you that much money ?
thanks

DSC · 19-04-2008, 06:21 PM

I am small fry but could live off property, if you can show you know what you are doing and who to go to a million pound facility is easy to get. With a bit more experience and a cash generating portfolio £10 million can be found, above that with the right proposal the amounts are limitless.

Tristancross50 · 19-04-2008, 06:30 PM

Thankyou you have been a real help good luck with your propertys.

Xplosion · 19-04-2008, 07:10 PM

The Candy brothers are for real, the company I do engineering for are currently contracted for thier new development labelled as One Hyde Park which has apartments for sale at around 30 - 90 million in central london. My family business is associated with property as well and to be honest, you can never go wrong with property in the LONG term. As long as you make a sound judgement on location and have done your maths correctly, you can gradually build up your portfolio, good luck with it

Tristancross50 · 19-04-2008, 07:22 PM

Thanks for that like the saying goes "as safe as houses" lol
The candy brothers have a really amazing story.

greedyboy · 19-04-2008, 07:29 PM

I've actually been painting one of my properties today as the tennants have just given notice. I'm getting this one valued and may stick it on the market and re-invest in 12 months when hopefully the market wil be on it's knees

Like most things it's not as easy as it seems and the risks can be very high. In fact the coming months are going to be very interesting for landlords! I also developed property but stopped after one property sat around for 10 months while buyer after buyer fell through. The plan was to extend to new builds but it was shelved.

I'm now looking at more commercial propert as I have a healthy SIP sitting there soing nothing other than earning a small amount of interest.