Our 8 Steps to a 

Profitable Renovation

Listen now and step up your property renovation game

If you’ve never picked up a hammer before but you’re keen to move forward with a renovation, it makes sense to start with a small project.

Be sure to acquire the research and knowledge that will allow you mitigate your risk and give you the best chance of real success.

That means knowing how to protect yourself, how to choose the right property, and how to make sure it turns a profit for you in the end.

In this session, I discuss:

My 8 step process for profiting from renovations.

I explain the 4 big benefits of renovations:

Increasing the rental return and therefore yield of your investment property.

5 tips for successful renovations

Why renovations make sense in today's property market

The one thing that many renovations courses teach that is patently incorrect.

Increasing the aesthetic appeal of the property and thereby attracting a wider tenant pool and often a better-quality tenant.

Increasing your depreciation allowances.

“Manufacturing” capital growth thereby increasing the overall value of your property, even in a flat market.

1. Why this development – what’s your reason?

2. Preparation - finance & structures

When renovating, gaining finance for your project can be a little more of a dance than when buying a regular property.

You’ll need to borrow enough money to cover the property purchase and renovation costs and have some buffer for issues that crop up or any delays in the schedule.

Are you using your existing cash flow to fund your renovation? Your equity? Structuring your finances is a crucial task before the ‘real’ work can take place.

3. Where? 

Research your target areas (due diligence on locations)

Around eighty percent of your property investment success will come from choosing the right location and the balance from buying the right property in that location.

Research local markets to identify price points, what buyers want in a home or apartment and all the usual factors such as supply and demand and times on the market.

Once you’ve pinpointed a suburb with profit potential, target a property that fits the size of the renovation you want to undertake.

 Investing in a development property can be difficult to plan – but finding the right property in the right location is always the best plan from the get-go.

4. Why? 

Find a property with value add potential (due diligence analysis)

It’s always worth searching for investment-grade properties – that is, properties that will actually help you grow your investment wealth in the long term.

If the project will still turn a profit, then and only then should you proceed.

Depending on the size of the renovation, hiring a professional renovator or a project manager for your first attempt can help keep everything on track and within budget.

Becoming a property developer allows you to acquire high performance properties “at wholesale” (with built in capital growth) that you can renovate at a premium.

This helps you build your property portfolio faster and safer than the average investor

Do your research by inspecting many properties and seeing what they sell for – not just the asking price.

Know the market, know the value of the property in question and be armed with that power so you can identify a ‘walk-away’ price – the highest price you’re prepared to pay.

5. Purchase at “wholesale”

6. How much? 

Plan and budget – consider your target market and end values

Becoming a property developer allows you to acquire high performance properties “at wholesale” (with built in capital growth) that you can renovate at a premium.

This helps you build your property portfolio faster and safer than the average investor

Do your research by inspecting many properties and seeing what they sell for – not just the asking price.

Know the market, know the value of the property in question and be armed with that power so you can identify a ‘walk-away’ price – the highest price you’re prepared to pay.

7. The renovation process – create a higher and better use

The best renovations will help you manufacture capital growth on your property, opening up your cash flow and helping you to fund future growth on new properties.

Developers are investors who commit their equity, expertise and talents to convert land from its current use to a higher and better use.

So you’ll need to educate yourself on property, the markets, economics, finance, town planning, the construction processes and the marketing of real estate projects.

Depending on the size of the renovation, hiring a professional renovator or a project manager for your first attempt can help keep everything on track and within budget.

Reviewing your renovation against budget and goals is the best way to improve your future investments. Learn, and look for the best ways to profit from your development.

8. Post renovation analysis – learn from your mistakes and plan for your future

If you want to know more about renovating for profit or our upcoming workshop - or if you just want to speak to a real human being...

A message from Michael Yardney:

How about improving your cash flow and capital growth? What about structuring your finances to get the most out of your investment dollar? 

For the last 14 years, my Property Renovations and Development Workshop has taught investors the practical steps they need to step up their investment game and succeed in developing their properties for profit. I hope you’ll join me and my team in October this year. 

Still have questions?

Best of all, this event is backed by my personal money back guarantee  - yes, I am that confident in our program and speakers!

Do you want to step up to the big leagues and learn how to renovate for profit?

With the right training, mentors and game plan, you can renovate your way to financial success!

      Melbourne
26th and 27th October 2019

Please call Jo Fitt on 
03 9591 8888 

With the right training, mentors and game plan, you can renovate your way to financial success!

      Melbourne
21st – 22nd October 2017

Or you can email Jo at 
[email protected]