Renovating for profit can be very lucrative. We do this successfully all the time. However it really does pay to do your numbers. Cost out your renovation in as much detail as possible before you even make an offer, look at all your purchasing, selling and holding costs and do the research to find out what the resale post reno would be. Subtract…[Read more]

I second Jane and invite you to have a look through our website – lots of free info re renovating for profit.

I have also just had confirmation that George Mirabella from Mirabella lighting will himself come along to the networking night. I am very excited and look forward to seeing who else will come along to make some great networking connections!

Hi Ryan,I specialise in renovating for profit and my personal area of expertise is in the anlytics side: what adds the most value, most profitable changes to floor plans, what materials to use, how to cost out a renovation upfront, how to calculate how much profit there is in a deal (cash or cash flow) regardless if it is a renovation,…[Read more]

Any good builder or renovation company should provide as part of their quote, getting the permit application submitted and approved.Also, you shouldn't need to get a seperate permit for each piece of structural change you do to a property, you can incorporate them all into one permit.And just one more tip… you don't have to use a council…[Read more]

Hey guys, thanks for all the comments and replys. I'm happy to answer any questions that anyone may have. The reason they knew Grant was referring to my coaching is because of the post title – Winning Formulas for Success is the name of my company. BTW, Grant is in the middle of doing the current coaching program so it will be interesting to get…[Read more]

I agree with most of what Miike is saying too. The focus is not on finding a good suburb because you are not looking to leave the property at the mercy of the market to achieve natural growth as it goes along, with doing renos you are actually trying to manifacture growth yourself which can be done in most suburbs. It will all come down to how the…[Read more]

You are more then welcome to subscribe to our free newsletter. We are renovating for profit specialists and each fortnight provide tips, go over case studies, show before/afters with relevant number crunching, include articles on an aspect of adding value to property and also have information from relevant other supporting business specialists…[Read more]

Through all our renos and statistics we have found that having more bedrooms will always result in a higher return then having one. If you speak to bank valuators that is what they will aslo recommend.Most people when they search for property mainly do so online and after selecting suburb and price range the first thing they do is put down how…[Read more]

Hi Sean,Going somewhere new by yourself will always be outside of our comfort zones, but don't worry it's going to be a great night. Come up and introduce yourself when you arrive and I will introduce you to some of the other renovators there. Everyone coming has a passion for property and is looking to learn about renovating for profit as well as…[Read more]

Hi David,Have you considered putting the hot water unit outside, washing machine in the cupboard (you already have in the bathroom) and turning the laundry into another bathroom? You would save some costs this way and still accomplish a high return.Wishing you every success,AnaAna@WinningFormulasForSuccess.comhttp://www.WinningFormulasForSuccess.com

BuilderBob, can I ask why the bad experience with Luxury Paints? We have used them with a couple of renos in Qld and didn't have any problems.

Like you mention, you can negotiate on most things. If the current owner is a tradie you can negotiate for them to complete some work prior to settlement. Or for them to do rubbish removal, site preperation for you. Or you could get them to find a tennant for you. Or if they are already in the process of renovating/building you might negotiate…[Read more]

Hi Janine,There is a membrane that you can put over the cladding prior to rendering it. It has a lot of elasticity (like rubber) in it so it means that the render won't crack if there is any movement. I haven't used it myself but my partner has and he said that it was a little bit fiddly but definitely worth it in comparison of removing the…[Read more]

From a renovation point of view, we have organised to get early access in the past for the purposes of quote/measure or to actually start doing the demolition/ preperation/renovation during the settlement period. So having a longer settlement period has worked to our advantage as we have been able to do work prior to officially owning the…[Read more]

Also you don't mention light fittings, light switches, power points, silicone, sealer, grout, tile adhesive, screws, drain, nails, door handles and possibly any tools you might need for the bits you are doing yourself such as paint brushes, roller, trowel, etcYou also might want to allow some extra budget for unforseen things such as when you…[Read more]

I have just had a look around and accomodation for one person in the CBD is quite expensive for 16th and 17th. If anyone is interested in sharing 2 bedroom accomodation or knows of somewhere that is reasonably priced, can you please drop me a line?

Many Thanks,

Ana

Thanks guys

Thank you for everyones input. I should have mentioned that we do have the rental history figures and they have gone up quite a lot in the last 6 months. Because there are no other rentals available and are becoming more and more scarce (as are properties for sale), we have an opportunity to set the mark on what we want the rental to be.

I was…[Read more]

Sorry, I forgot to add that we have 6 weeks for settlement which buys us some time to investigate.