How I’d Start Again Today (Based on 100+ Completed Property Deals)
Getting started in property development isn’t easy, but it is absolutely achievable if you’re prepared to learn, work hard and get your hands dirty. Contrary to what many social media “gurus” would have you believe, property development isn’t about getting rich overnight. It’s about buying well, creating value and managing risk. I bought my first property in London in my early twenties and, over the last three decades, I’ve completed more than 100 property deals ranging from simple refurbishments to larger developments. If I had to start again today with no portfolio, this is exactly the route I would take. The good news is that many successful developers don’t start with huge amounts of money. They start by developing knowledge, learning valuations and buying the right properties.
Step 1: Learn Property Valuations Before You Buy Anything
This is the single most important skill you can develop and you can excel in this by watching your local auctions LIVE as they happen, not by reading the sold results afterwards.
Before spending a penny on property, I would spend weeks—even months—learning the true market value of properties in my chosen area.
Without understanding valuations, you simply cannot recognise a bargain when you see one.
Spend time:
- Studying sold prices.
- Viewing properties every week.
- Following local estate agents.
- Watching auction results and watching auctions LIVE as they happen!
- Understanding what refurbished properties sell for versus unmodernised properties.
Professional developers make their money when they buy—not when they sell.
Step 2: Understand How Much Money You Need
Many beginners assume they need hundreds of thousands of pounds.
In reality, you can often start with considerably less.
As a general guide, you’ll typically need:
- Approximately 30% of the purchase price as your deposit.
- Funds for stamp duty, legal fees and finance costs.
- Including fees, short-term finance cost about 12%
- A separate refurbishment budget.
For example:
- £100,000 purchase
- Around £30,000 deposit
- Plus refurbishment costs and buying expenses
The refurbishment budget is separate and should never be underestimated.
Always include a contingency for unexpected costs and any project spend above £100,000 usually requires the expertise of a quantity surveyor.
Step 3: Arrange Your Finance Before Looking
One of the biggest mistakes beginners make is finding deals before arranging funding.
Get your finance agreed first.
Most professional developers use bridging finance for purchases because it allows them to buy quickly, complete refurbishment works and refinance afterwards.
I recommend speaking to an experienced property development finance broker who understands refurbishment and auction purchases rather than relying solely on high street lenders.
Bridging finance is commonly available at around 70% loan-to-value, subject to the lender’s criteria and the property’s suitability. I can introduce you to a lender directly and a broker, as I mix between them depending on deal size. I use specialists who do not waste your time.
Step 4: Buy in HPE Affordable Areas
I generally prefer areas with low house price-to-earnings ratios.
These areas tend to offer better value because local buyers can often afford a higher proportion of their income towards mortgage repayments.
Affordable locations also tend to provide:
- Better rental demand
- Larger buyer pools
- Stronger long-term demand
- Lower barriers to entry for first-time developers
Always research local rental supply, demand and sold prices before committing to an area.
Step 5: Look for the Worst Property on the Best Street
Value is created—not found.
The biggest profits usually come from buying properties that other buyers don’t want or are too scared to tackle because of their poor condition or their inability to accurately assess build costs.
Look for:
- Derelict houses
- Poor layouts
- Structural neglect
- Properties requiring complete refurbishment
- Homes with obvious extension potential
Never judge a property by how it looks today.
Judge it by what it could become.
Step 6: Maximise the Property’s Potential
The easiest way to increase profit is usually by creating additional floor space.
Depending on planning rules and the property itself, opportunities may include:
- Rear extensions
- Loft conversions
- Garage conversions
- Internal reconfiguration
- Creating additional bedrooms
- Converting to a House in Multiple Occupation (HMO), where appropriate and subject to planning and licensing requirements
Even relatively small changes can add significant value.
Step 7: Build the Right Professional Team
You don’t need a huge team when starting out.
However, you do need good people.
For smaller projects:
- An experienced architect can often identify ways to increase value.
For larger refurbishment or development projects:
- A Quantity Surveyor (QS) can independently price the work and help prevent builders from overcharging.
As a general rule, once refurbishment costs exceed around £100,000, independent cost control becomes increasingly important.
One useful tip is to review an architect’s previous planning applications on your local council’s planning portal.
This often tells you far more about their experience than an impressive-looking website.
Step 8: Study Property Auctions Every Week
Even if you never intend to buy at auction, auctions provide one of the best education tools available.
Watch every local auction – LIVE.
Study:
- Guide prices
- Sale prices
- Unsold lots
- Most and least bids
- Property descriptions
- Renovation opportunities
Over time you’ll see demand dynamics and trends and develop an instinct for identifying value.
A useful resource is EIG, which lists 98% of all available auction properties for sale: EIG Property Auctions
Step 9: Learn Basic DIY Skills
You don’t need to become a professional builder.
However, understanding how houses are put together will make you a far better developer.
Learning basic skills will help you:
- Understand builder quotations
- Spot unnecessary costs
- Recognise poor workmanship
- Make better decisions on site
One of the best free resources is: Skill Builder YouTube Channel
There are thousands of practical videos covering almost every aspect of residential refurbishment.
Step 10: Save Money Where It Makes Sense
Not every task requires expensive tradespeople.
Many successful developers reduce costs by completing simple work themselves or with trusted friends and family.
Examples include:
- Painting
- Garden clearance
- Removing old kitchens
- Clearing rubbish
- Basic demolition work
Leave specialist work such as electrical installations, gas, structural alterations and plumbing to qualified professionals.
Step 11: Never Stop Learning
The best developers never stop studying.
Keep analysing
- Planning portal applications at your local council planning website
- Auction catalogues via EIG Auctions
- Building costs via https://www.bcis.co.uk
- Local sold prices via Rightmove alerts
- Development case studies
The more deals you analyse, the easier it becomes to recognise profitable opportunities.
Experience cannot be downloaded—it has to be earned.
Final Thoughts
Property development is a business, not a lottery.
Success comes from buying well, understanding valuations, managing costs and reducing risk at every stage of the project.
If you can master these fundamentals before purchasing your first property, you’ll already be ahead of most beginners.
Over the past three decades and more than 100 completed property deals, I’ve found that the developers who consistently succeed aren’t necessarily the ones with the most money—they’re the ones who understand how to identify value, carry out proper due diligence and make informed decisions.
Build your knowledge first, buy carefully, and let every project become a stepping stone to the next one.
