Cosmetic renovation for quick profit, is it possible?

You dont feel like a trip to the West do you?;)
Ive got a kitchen a laundry and a bathroom all ready for you:D

I'd love to,but I am all tied up with other things,
I still work at least six days a week,so when I semi-retire that's what I would like to do ,as I enjoy it so much :D
 
Reviving an old thread...

Having done a couple of renos recently I think this strategy is doable but not easy. I'll be leaving my "good job" in the next few months and will have enough spare time to consider doing a reno or two for extra cash but this time I'll be relying a lot more on tradies. The difficulty factor to turn a profit just went up 5 fold! And to compound my issue will be the need to focus on cheapies as I won't have the income to borrow/hold more expensive deals.

Still. Not impossible, but I will be relying on good relationships with a couple of agents to source purchases.

As an aside, a few of the posts mention needing to have a licensed builder - why? If I'm using licensed tradies to do everything, how could the work be considered illegal/not fit for purpose?
 
As an aside, a few of the posts mention needing to have a licensed builder - why? If I'm using licensed tradies to do everything, how could the work be considered illegal/not fit for purpose?
It is a regulatory requirement in most states (I think, from memory, WA is an exception) that all people performing building work are licenced. This is to ensure they have adequate capital, fulfil warranty obligations, know and comply with OH&S and other regulations, and know how to manage contracts legally, in addition to the one aspect that you're referring to, which is quality of work.

The definition of building work includes construction management, i.e. it doesn't matter if you never touch a tool.

In most states, it is simply illegal to coordinate a renovation above a quite low $ limit (based on market value if you paid a licenced person to do it, not what it costs you) e.g. new carpet and paint in one room may be doable; a whole bathroom renovation - let alone a whole house - wouldn't.

I've repeatedly asked those who spruik "renovating for profit" how they get around the extremely prohibitive regulations in this sector, and none of them have ever answered. I take it that means that they all advocate doing it illegally and "hoping for the best".
 
It is a regulatory requirement...all people performing building work are licenced. ...adequate capital, fulfil warranty obligations, know and comply with OH&S and other regulations...

The definition of building work includes construction management, i.e. it doesn't matter if you never touch a tool.

...advocate doing it illegally and "hoping for the best".

Ok. Does that not seem like a redundant requirement though? All the tradies I hire ARE licensed. I wouldn't ask them to do anything that doesn't comply with the building code, and I doubt any would do it even if I did. So how does that make my renovation fail the relevant safety/warranty/OH&S requirements? Just trying to understand this.
 
Ok. Does that not seem like a redundant requirement though? All the tradies I hire ARE licensed. I wouldn't ask them to do anything that doesn't comply with the building code, and I doubt any would do it even if I did. So how does that make my renovation fail the relevant safety/warranty/OH&S requirements? Just trying to understand this.
There has to be one party at the "apex" of a building job, who's organising and coordinating it all, and that person is responsible for OH&S on the site, obtaining and complying with building permits, obtaining building insurance for the job, warranting the overall job, etc. Individual tradies you hire have no such obligation.

That's the builder! A builder is really a "construction manager"; they don't necessarily ever touch tools. You are taking on the role of the builder when you coordinate all the works, and you take on the legal obligation to manage all those overall aspects.
 
It is a regulatory requirement in most states (I think, from memory, WA is an exception) that all people performing building work are licenced. This is to ensure they have adequate capital, fulfil warranty obligations, know and comply with OH&S and other regulations, and know how to manage contracts legally, in addition to the one aspect that you're referring to, which is quality of work.

The definition of building work includes construction management, i.e. it doesn't matter if you never touch a tool.

In most states, it is simply illegal to coordinate a renovation above a quite low $ limit (based on market value if you paid a licenced person to do it, not what it costs you) e.g. new carpet and paint in one room may be doable; a whole bathroom renovation - let alone a whole house - wouldn't.

I've repeatedly asked those who spruik "renovating for profit" how they get around the extremely prohibitive regulations in this sector, and none of them have ever answered. I take it that means that they all advocate doing it illegally and "hoping for the best".


This is something I have been looking up. Each state has its own threshold

For example if the value of the renovations are over $11000 in qld s builder must coordinate the trades and builders insurance is required.

If a single job is over $3300 for example painting then the trade must be licensed in that trade...but most jobs under $3300 anyone can do apart from electrical and plumbing

However you can do a construction management contract where you organize the trades a a builder supervises and signs it off.

But people may find licensed builders to work cheap on hourly rates to do most of the work for example.

In Victoria the limit is $16000

In NSW I think its $20000

I don't know the single job value though for those 2 states
 
The other thing I got told by the BSA is I renovate my property for under $11000 I am liable for renovations for 7 years just as a builder would be if a builder was managing a bigger job. However I was thinking the trades would have insurance for the jobs they do.
 
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