Buy & Develop Land
Buying and developing land can prove an extremely lucrative option where you could look forward to an average profit margin of around 30 per cent. However youâ€™re definitely not going to become rich overnight (think Grand Designs). And it would help if you have plenty of plastering, building, joinery etc skills as well as time and patience - otherwise a contractor could eat heavily into your profit margins.
A strategy for the more experienced property investor /developer and one in which time is very much of the essence, there could also be a lot of red tape to get through. Local authority planning permission is needed and how easy this will be to achieve depends primarily on whether the site is Brownfield (you will be demolishing an existing property) or Greenfield (never been built on).