Case Studies - On real clients
Alan Jones
Alan Jones - an example of trading a development flat
Alan Jones is a full time taxi driver and had traded a number of new build properties "off plan". He had a passion for property and was keen to develop a career in property developing and investing.
McEwan Fraser had selected a large "off-market" 2 bed, ground floor flat in Steils Place in the Morningside district of Edinburgh which needed fully refurbished. McEwan Fraser contacted a number of clients regarding the potential of this property; however for various reasons each client declined the opportunity.
Alan however, was very interested in the opportunity and was keen to take our advice on the potential of this property. Alan purchased the property for £150,000 and spent £15,000 refurbishing the property. Alan managed to complete the refurb within 3-4 weeks and the main works included a new bathroom suite, kitchen, painting and sanded floors.
Alan then put the property on the "open market" and achieved a quick offer of £200,000 for the property. An excellent profit for a relatively uncomplicated refurbishment.
Steils Place
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