Gross Profit £45k! Bought 175k, Sold 240k, Refurb £20k, Case Study TGPC's First Joint Venture
Channel: The Good Property Company / Susannah Cole
Date: 2017-04-03

An early Joint Venture that TGPC did, with gross profit (ie purchase price plus refurb taken away from sale price) of £45k. If you are using finance, you will have to take off the interest costs, we did this cash so didn't have the cost of interest with this one, Also remember to take off 'gubbing' costs, such as solicitor fees, estate agent fees, heating lighting etc, to get to your final anticipated profit. 

Look at what Susie talks about ROCE (return on capital employed) being a function of time and profit. Also look at how Susannah looks at understanding the market - ie making sure she understood how many viewings would be the norm to get an offer in the climate. 

See the speedbumps (there are often some in a property project!) we had - in a recession, the bumped the price down with 24 hours to go. Also check out Susie's good advice on needing to ask permission to a management company, and also our thinking on keeping the property open to all customers - downsizers, landlords, etc.

So we still made good money in a recession, not bad. 

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