Hi All,
As a relatively new member – thankyou all for the positive & informative postings via the discussion board – there’s certainly a lot to learn!
Can anyone suggest some informative resources, starting points for the following scenario of renovating a property:
Bought a old rendered stone house (built 1863) in regional NSW. I have a long term tennant in there who gives me access & a free for all on weekends to renovate. I am looking to make some cosmetic renovations to the property (polish floorboards, re-paint or re-render outside & inside, basic kitchen & bathroom renovations) and am hoping to do most myself. Ideally am looking at spending 10% of the purchase price ($150k) – and then will hopefully have bank re-value & use equity to purchase a small/ cheaper (regional?) positive cashflow property(s). Would like to build up portfolio with a buy & hold strategy medium to long term.
Can anyone suggest a starting point or resources that could help me establish an overall plan for renovating this property? Ie: what is possible & not possible to DIY, what experts to consult, how to spend my money ‘smartly’ – that is what renovations will increase value of house on limited budget etc etc.
My apologies for the long winded posting – and thankyou in advance for your thoughts.
cheers.
Remijack…
A great Aussie resource is provided by the “RENOVATION KINGS” Geoff Doidge and Paul Eslick.
They have a website at
http://www.financialsuccesssystems.com/index1.htmThey run seminars on how to renovate well on the cheap etc and offer some great resources on their site…
I have seen their presentation and not only is it sensationally entertaining but very informative..Hope this gives you somewhere to start..
Pete
Thanks Pete!
Katey
Katey…
My pleasure – hope it gives you a starting block…
They once had a section on their site which helped you plan out a reno job but I tried to find it and post the direct link – but unfortunitly i couldn’t.
Hope you have more luck…
Pete
Hi Pete and Katy,
Denis here from The Reno King’s office.
The project management planner you are looking for is called a Gantt Chart, and is freely available at
http://www.financialsuccesssystems.com/gantchart.htm
Paul Eslick plans every renovation like a military exercise.
If you recall a Current Affaur from May last year, Paul did a “Timber and Tin” reno to what looked like a dump, in just 3 weeks.
At 7am on the Monday following settlement, the skip arrived and the chippies started cleanup and demolition.
At 8am, the new materials started arriving, and by 10am the skip was on its way to the tip.
It went on like that for the entire 3 weeks!
There’s photos all over the website … http://www.financialsuccesssystems.com
Click on “Miracle Makeover” to view them.
They take forever to load … Sorry!
BTW, most recent Microsoft office packages have Project Management software bundled in. You can do your own Gantt charts with them, or you can just fudge it using Excel, or even a Word table!
The main thing is to get a visual representation of what the progress should look like, and to ensure you don’t have trades arriving in the wrong order, or before materials are on site!
I hope this is valuable.
Best regards,
Denis.
Thanks Denis – your help is invaluable and very much appreciated.
Katey [
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