They Chose the Cheaper Builder. It Cost £300,000

In this episode of the OMZ Property Podcast, I’m joined by property developers and construction experts Mark and Steve Giorgio to talk about the realities of building, developing and investing in property. With nearly two decades of experience in construction and property development, Mark and Steve share the lessons they’ve learned from working on everything from small refurbishments and extensions to major conversions, HMOs and multi-million-pound projects. We discuss one of the biggest risks facing property investors: choosing the wrong builder. From checking references and insurance to understanding cash flow, development finance and building control, we explain what investors should look for before handing over hundreds of thousands of pounds. Mark and Steve also reveal how they originally left their jobs to become property developers — just before the 2008 property crash hit. With properties they couldn’t sell and credit card bills mounting, they were forced to completely rethink their business and build the construction company they operate today. We also get into: • Why choosing the cheapest builder can become a very expensive mistake • A construction failure that reportedly cost more than £300,000 • How to properly vet a builder before starting a development • Why property developments nearly always take longer than expected • Managing builder cash flow and development finance • Their £250,000 property converted into a 7-bedroom HMO • Why they believe HMOs still have a strong future • HMOs vs flats and commercial-to-residential conversions • The challenges of HMO planning and Article 4 areas • How property investors can protect themselves from costly construction mistakes • Why experienced builders can give property developers a major advantage • Ground screw foundations and how they can speed up extensions and garden rooms • Their advice for anyone starting their first property development Whether you’re already investing in property or considering your first refurbishment, conversion or development, this episode is packed with practical lessons from people who have experienced both the highs and lows of the construction industry. If you enjoyed the episode, please LIKE, SUBSCRIBE and leave a COMMENT below. Let us know in the comments: What’s the biggest problem you’ve ever had with a builder? 🏠 OMZ Property Podcast Conversations with property investors, developers and industry experts about property investment, development, finance and building long-term wealth. 🔔 Subscribe for more updates! → @omermehmet7380 📸 Follow me on social media → https://linktr.ee/omzunderthehammer #PropertyDevelopment #PropertyInvestment #PropertyPodcast #HMO #HMOs #Construction #PropertyDeveloper #UKProperty #PropertyInvesting #Builders #RealEstateInvesting #UKPropertyInvestment