Renovated Properties

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From: Kurt Heinrich


Hi Everyone,
I am interested in talking to anyone who has successfully renovated a property for the purpose of selling or drawing down equity to purchase another property. I am really interested in people who can supply before and after photos/stories of how much they spent and how much they made. I am happy to pay you for your time.
My email address is kurt@extremewealth.com.au
 
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Reply: 1
From: Robert Forward


Hi Kurt

If your willing to pay for the time can I suggest a visit to one of Geoff Doige's renovation seminars. He used to be a regular poster in here and still comes in for a look every now and then, but you will find his advertising in the Property Investor magazine.

The company name is Financial Success Systems or something like that, I'm sure that someone will correct me.

Cheers
Robert

The Sydney "Freestylers" Group Leader.
 
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Reply: 1.1
From: Michael Croft


Hi Kurt,

I've done it once or twice, what would you like to know and why?

Michael Croft
 
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Reply: 1.1.1
From: The Wife


OR...
if you would like to see a southerner, who can renovate ANYTHING, keep an eye out for

"Michael Crofts Renovation Magic"

in March this year, details will be here and on freestylers web site as they become available.

I think everyone here will agree, we have waited a LONG time to see Michael live and in action, its about time Michael!

TW
 
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Reply: 1.1.1.1
From: Geoff Whitfield


I'd love to be there.

I've been hugely impressed by Michael's professional advice- his suggestions for improving both cap growth and income on a property I am purchasing are quite valuable.

Thanks Michael! Well worth the $$$.
 
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Reply: 1.1.1.1.1.1
From: Kurt Heinrich


thanks for the responses guys and girls, keep them coming

have an awesome day

regards

kurt
 
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Reply: 1.1.1.1.1.1.1
From: Owen .


Also check out
http://communities.msn.com/RayComosHouseBuyingKingdom/9beforeandafterhousebuyingsellingstorieswithpics.msnw

Ray Como is a lunatic and the dollars are American but his ideas on detrashing and the basics on a quick and dirty 'rehab' can be a starting point. Read some of his Q&A stuff and free article too. Crazy stuff but gets you thinking a bit.

What I got from him was the ability to look at a complete dump and see the jewel underneath. That and the fact that you are in control of it all. May be worth a look.

Owen

"Gambling promises the poor what property performs for the rich – something for nothing"
 
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Reply: 1.1.1.1.1.1.1.1
From: Asy .


what a fascinating site, thanks Owen!!

asy
There are no problems, only solutions which have not yet been discovered.
 
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Well done Geoff !!

Reply: 1.1.1.1.2
From: Michael Croft


Thanks for the kind words Geoff.

Geoff has just purchased a property in the inner north in Canberra which on current figures is returning 9.36% on purchase price (8.7% + on total acquisition costs). It's on a huge redevelopment block with redevelopment possible even though we have a mortitorium on dual/tri occupancy developments in the ACT.

The property lends itself to a cosmetic reno and should add about $30 to 60k to the value depending on how its done, and this should push the returns past 10% including costs.

In short he has bought a cash positive property with big potential in a good cap growth area. Well done Geoff!!!

Michael Croft
 
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Well done Geoff !!

Reply: 1.1.1.1.2.1
From: Geoff Whitfield


Thanks Michael.

We're not really scratching backs here!

I was fortunate to find a property which met all my criteria- but if I hadn't learnt my lessons on this forum and other places, I would not have been looking for those criteria to begin with- let alone finding one.

I'm still very much a novice. But this has whetted my appetite. If I can get the renos done and get the extra value, I'll be out looking again soon.

Mrs W has played enough Cashflow to realise the value of cashflow positive. She hasn't seen the property yet but is happy to go with it. Another property might take a bit of convincing perhaps.

But, Michael, you certainly raised some excellent ideas which I would not have imagined.

You will be happier when I actually pay your bill though! (Coming soon).
 
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