Good evening wise forum members. I live on the Gold Coast and think that "work" in the traditional sense is overrated. I would like to buy a property, renovate it, and make $100 K in a 12 month period. Does anyone think that is possible? And if so what tips do you have for me. Thanks.
Dear Future Tycoon
TIPS
Please list you skills, knowledge and abilities related to renovation and building!
Do you come from a family that has been involved in property renovation?
What are you currently employed as?
How much money do you have to buy the property you intent to renovate?
You have written a goal which is to buy a property, renovate the property, increase the value of property by 115K (15K REA costs and solictor fees) so as to make 100K off property by selling within 12 months.
Anything is possible but it helps if you do a self assessment of your skills, knowledge, abilities and self motivation
BTW
Can you write a list of your renovation tools as well, FWIW we just purchased a new rechargable cordless drill today then the jigsaw blade broke so we will go ack to Bunnings tomorrow to replace the blade + we are looking at spending 1000K on some carpentry equipment.
Bottom line
Are your prepared to work 12 hour days that is 7 days a week for 6 months?
Regards
Sheryn
PS
I am not laughing at you. Just being serious.
Friends, family and bank laughed at me on my first project - that was about 10 projects (not renovations) ago.
Looking forward to your reply.