Webinar:Renovating For Profit - How To Find, Research And Analyse The Best Opportunities

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Webinar:Renovating For Profit - How To Find, Research And Analyse The Best Opportunities

Webinar:Renovating For Profit - How To Find, Research And Analyse The Best Opportunities

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Webinar:Renovating For Profit - How To Find, Research And Analyse The Best Opportunities

Maylands, WA

“There is a good range of property types – from apartments to heritage homes – in Maylands. However, townhouses are more

affordable and likely to be a renovator’s best bet”.

Let’s use Investar Search to find:

• A townhouse

• Priced below $450K

Low maintenance outdoor living

Big renovations aren’t always necessary:

Deck, Patio, Turf, Edging, Plants, Render & Paint

Low maintenance outdoor living

Big renovations aren’t always necessary:

Chainsaw, Shovel, Paint, Fence, Pavers & Plants

And what about inside?

Big renovations aren’t always necessary:

Flat Packs are great, but there’s other ways too!

Torrensville, SA

“Character and period homes are popular. Long-standing cottages on sizeable blocks range from $450,000 – $500,000 and offer good options

for renovating”.

Let’s use My Research to take a look at the competition:

• Houses sold within 500m of Henley Beach Road

• With a particular focus on character & period homes

• Identifying the level of quality we need to deliver

Key to renovation profits

• Buy below median price

• Find suburbs with big gaps between lower & upper quartiles

• Complete the project quickly by leveraging other peoples time & expertise

• Focus on cosmetic distress for best results.

Biggest Median Gap Suburbs

Enoggera, QLD“Two- or three-bedroom Queenslander type houses are popular. In particular, three-bedroom houses priced between $450,000 and $550,000 are perfect for

renovations. There are quite a few houses in this suburb that are valued well over $600,000, indicating that a renovation can potentially add significant value”.

Let’s use Investar Search & My Research to identify opportunities in:

• 3 Bedroom+ houses

• Between $450K & $550K

The Top 5 biggest mistakes made

1. Not researching property & suburb fundamentals

2. Underestimating the cost of a renovation

3. Ignoring your target market

4. Over capitalising

5. Doing all the work yourself

Renovation Budget Calculator

Essendon, VIC

“There is a particularly diverse array of architecture and property types in Essendon. Lonzi says the suburb is noted for its generous-sized blocks,

but that units are often a more affordable option”.

Let’s use Investar Search, My Valuer & My Research to identify the value of a property.

We will search for:

• A Unit

• Up to $500K

Chester Hill, NSW

“Families are attracted to this area, so several-bedroom family homes are the most sought-after property type. Prices have been creeping up in

Chester Hill, so properties in the high $500K range are becoming a deal”.

Let’s bring together Investar Search, My Valuer & My Research:

• Let’s search Houses

• With 3 bedrooms +

My slide show…..Here’s what I have been up to the last two weeks!

My slide show…..Here’s what I have been up to the last two weeks!

My slide show…..Here’s what I have been up to the last two weeks!

My slide show…..Here’s what I have been up to the last two weeks!

The high level numbers?

Valuation prior to renovation:$400,000

Spend on renovation:$20,000

Valuation Estimation now:$480,000-$500,000

$20K/$70K= $3.50 per $1

As a rule, look for $3+

Next steps

• Think about if a renovation strategy might be for you.

• Start researching – there are lot’s of free and subscription tools available.

• When you find a property, think about what you need to do to sell it to the next buyer. That’s where the value is created!

• Budget and plan – make sure you know the costs of X to deliver the sale of Y.

• Don’t over extend yourself – start small.

• Don’t believe everything you see on TV!

What can I do next?

Here’s some things to help you get started!

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