All Topics / Value Adding / Has anyone successfully used the Reno Toolkit?

Viewing 4 posts - 21 through 24 (of 24 total)
  • Profile photo of AAZAAZ
    Join Date: 2008
    Post Count: 56

    Hi Pecko

    We couldn't agree more with Daedalus.  As long as you Take Action and further your property investing education.  

    Even though there are associated costs involved attending seminars we've found that you generally have the opportunity to ask questions and network with others. 

    However what we like about purchasing hard products especially with audio and video is that we're able to listen or watch them over again if we need to.  Purchasing hard products also allows us to leverage our time better, after all Time Is Money.

    If you're still unsure ask yourself this question:

    Which one is likely to give me the better result with the least amount of effort so I can reach my goals sooner?

    Adrian and Amber Zenere

    Profile photo of redwingredwing
    Join Date: 2003
    Post Count: 2,733
    artytina68 wrote:
    Hi all,

    Bought the reno toolkit a while back.  Have been trying to find deals in SE Qld which fit the formulas given by Dean.  I can't seem to find anything which fits the bill.  Has anyone bought and renovated a property using the formulas and made a profit?  Do I need to be looking in other states and if so how do I manage the reno from Qld?



    What are the formulae? 

    We recently purchased a vacant Property in Blacktown Council with a view to Reno (we live in WA), however, decided in this market to just give it a quick tidy (gardens, house clean and an acid wash of bathroom and kitchen) and had it rented within a week of settlement for a 6.3% yield.  The goal with this property having already talked to the council planners is to develop the site in 4-5 years with a Dual Occupancy Development on the site

     Yet to find any great “free” feasibility spreadsheets out there (let me know if you find any), feastudy looks to be a great paid program though see attached courtesy of Metropole   PS: Hi Adrian and Amber on the newsletter list as well for RED congratulations and best wishes with your site  


    Profile photo of AAZAAZ
    Join Date: 2008
    Post Count: 56

    Hi Redwing

    Thank you for your kind words and best wishes for our website.  As you're probably aware we discuss in detail how we conduct our feasibilities and the software we use on our website but to give you a quick overview.

    We personally haven't found any "free" property development software that is worth using.  We're prepared to pay for good software because the purpose of a real estate development feasibility study is to establish whether a project is a viable proposition or not. 

    It is critical that the feasibility is performed correctly.  We use property development feasibility software that allows us to work backwards to evaluate what the land is worth to us with development approval – this is called the Residual Land Value. 
    Once we’ve found a potential development site we start off by doing some simple BOE (‘Back Of Envelope’) calculations, using our Real Estate Development BOE calculator, to check whether the site is within our ballpark of profitability and suitable for further investigations.

    As soon as we’ve finished our concept drawings we fine-tune our ‘number crunching’ by undertaking a proper financial feasibility study.  Using 'Worst Case' scenarios (being conservative in the values that we input) we include anticipated time scales, all costs including consultants and construction costs as well as likely end sale values and our minimum profit margin plus a contingency allowance (which varies depending on circumstances especially site conditions).

    For our real estate development financial feasibilities we use 'FEASTUDY' as it is, in our opinion, the most user-friendly property development software for real estate and investment proposals that we've used and the most appropriate for our use in smaller-scale residential development. In considering the time it saves us in preparing a Real Estate Development Feasibility Report, in our opinion, Feastudy 6.0 Professional is a comparably inexpensive tool compared to the important job it performs.

    The feasibility study is also invaluable when putting together a JV or Loan Application Proposal as mortgage lenders or other investors can instantly see whether our real estate development project will be successful and the level of risk involved.

    Adrian and Amber Zenere

    Profile photo of PeckoPecko
    Join Date: 2008
    Post Count: 6

    Thank you to both  Daedalus and Adrian and Amber

    I apprecaite your time and thoughts and certainly agree that taking action is a positive step in anyway. I have had some more feedback from original post now as well and it has all helped to make an informed opinion on which will suit me best

    Once again I appreciate your time


Viewing 4 posts - 21 through 24 (of 24 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.