Need Operational Advice
Hi all, I an ex-MBB project leader who has moved into small scale ultra-luxury real estate development (Europe) over the last years. So far I completed one transaction where I invested 1,2 Mio. EUR and and made 1,2 net profit after taxes. It took 4 years and incredible effort to complete (ultra-luxury perceived renovation for very low cost, value driven by design, I studies architecture and highly regarded fine arts university way back).
No I am in completion of a minimalist ultra luxury single family house where I invested 2 Mio. EUR and brokers I trust valued it for 5,5 - 6,5 Mio. EUR I assume I can sell for 6,2 Mio. EUR. Reason for the huge profit is extremely clever plot selection with long search and minimalist design which in a nutshell costs nothing and looks incredibly expensive. I will go on the market in september. I started this 4 years ago.
Now I am looking into aquiring a historical property for 5 Mio. EUR plus 1 Mio. in re-design and renovation, that I think I will be able to sell after my value add for 10 - 12 Mio. EUR in 3-4 years.
Nevertheless I feel so exhausted as this kind of development is incredibly consuming. Buying the right property is difficult and risky and I apply a very detailed techical, lega and commercial due dilligence plus I need to have a vision for the place that transforms it. Then I need to do all the design in icredible detail, then I need to find people to perform the work, I need to understand every step extremely detailed guide and control them and pay them as little as possible.
I know I have to continue this, but it feels so exhausting and I do not know how to make it more bearable again. I do this all on my own, no employees.
Odit eos facere a placeat et assumenda nihil. Neque vel a dolores minus. Et ducimus aut hic nulla enim.
Possimus est et voluptatibus rerum porro. Tempora id eos aut est enim. Quia molestias est velit harum quas cupiditate molestiae quae. Voluptatem omnis consequatur aut perspiciatis ab ducimus. Sed laboriosam nesciunt est minima quam blanditiis rerum totam.
Distinctio sint error nostrum est ab rem asperiores. Et nam omnis nulla quia.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...