renovating for profit: how to find, analyse and research the best opportunities

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

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Portfolio solutions master class

• Designed to share knowledge.

• Desire to provide extra value to our clients.

• Great for both new and experienced investors.

• Plenty of opportunity for Q&A.

• We will run these regularly throughout the year, and sometimes involve our partners to provide additional insight.

Welcome to Nila SweeneyManaging Editor

www.yourinvestmentproperty.com.au

http://www.yourinvestmentpropertymag.com.au/blog/nila-sweeney/

Treat property investment as a business….

And build your team!

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Master Class Series

In this session, we will cover:

• How to research and understand key suburb data and demographics

• Identifying top suburbs worth looking into in today's market

• How to identify the best strategies based on your target suburb.

• The do’s and don’ts of renovating

• How to find, analyse and research renovation investment property

• Accurately estimating the value of a renovation property.

Renovating for Profit

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

Morley, WA

“There are plenty of old classic houses on big blocks, which have the added benefit of being affordable. Because this suburb attracts young families, a house with 3 or 4 bedrooms would be sensible. There are great deals for this type of property to be found here for < $460,000”.

Let’s use Investar Search to find:

• 3 Bedroom+ houses

• Sitting on large blocks of land

• Priced below $460K

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

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

• Renovation Strategy

• Identifying the price ranges achievable in the marketplace

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 renovation opportunity

• Up to $600K

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 +

• We will use a renovation strategy

• With an up to $650K budget

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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Questions?

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Thank you!