You're in... Property
The property market has been a one way wager for the past decade and rising prices have meant fortunes for many. Now the market is cooling, all bets are off.
You're EARNING...
Jobs in this area include estate agency (28.000 pounds) and commercial property development managers (40.000 pounds). Top estate agent's bonuses rose with the market: last year some of Savill's staff received more than 1 000 000 pounds.
Your MENTOR SAYS...
1) The way to make money is to create value, that is to say with places that need upgrading.
2) Buy to let is going to drop. I wouldn't get into this now.
3) Do your homework. Hire the right legal team and look at the downside of what you're getting involved in.
4) You need a good building team, and work to fixed price, turnkey scenarios.
5)Identify assets the big operators want.
6) Do business the right way. Be straight.
7) although there is still money to be made, you might want to sit it out for a year or two.
Andrea Panayiotou founded the ability Group in 1996. From its small beginnings in east London, Panayiotou created a company and worth more than 1 bn pounds.
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