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Hi propertybee,
Good questions, I will elaborate further.
When I first started investing 8 years ago, I use to use sweat equity using my own labour and help from "mates" and family. However I found this was detrimental and stunted growth as you are the handyman, the financier, the ceo, the collector of parts, and the manager of everything and this is before you go to work to earn an income to support the properties and before you search properties or jump the hurdles of banks etc…
I will break down some other options which may be of use from your situation, however please remember that you always need licenced electricians and plumbers and one shouldnt attempt to touch these services on their own. This also doesnt constitute as advice.
how can you do these as you are suggesting, when:
1. tiling labor cost just to tile an area where a standard bathtub was removed , I was given two quotes by tilers for $1500 and $1900?It is a matter of finding the right trades and sometimes tilers are difficult to come across. Learning how to tile is one option but then again it is you the end user doing this and not very efficient. I have had tilers pile a bathroom for $800 and it is important to leave them a clean slate to work with hence having the whole old bathroom cleaned out. Understand how tradies operate and then pay accordingly. Ask the tiler what their day rate is and then say here is the tiles, and make it clear they should have it done in 2-3 days.
If doing the kitchen make sure the kitchen is ready by the time the bathroom is needing to be tiled so they can tile the kitchen in their down time.
If the tradie says $300per day, say ok, well it should take 3 days heres $1200 make sure its done on time.
Another option is finding an all rounder handyman who can tile also which will mean they can paint when not tiling and waiting for glue to dry etc…
2. plumbing labor cost just to close off kitchen drainage, faucets, install new sinks, faucets, install new dishwasher and new oven and cooktop , I was charged $750 for which the plumber thinks it was a bargain? These were done without moving any of the plumbing placements/sites during a kitchen reno.
Plumbers do also have an hourly rate which is around $70 – $100 per hour. It shouldint take more then 2 – 3 hours to fit off wet ares, and also good to get cocvalves installed so you can have these installed with water isolated where you can add mixers etc so you dont need plumber (basically your adding hases to a secondary tap.
3. plumbing labor and material cost to replace tub and drain of bathtub, by making a hole in a brick sidewall and covering it up afterwards with a painted metal, cost me $550. You can get a handyman to do changes such as this.
4. Ikea kitchen install for a small U shaped kitchen around 3 sq. meter size with base and wall cabinets was $2430 – You can buy a straightline kitchen from bunnings off the shelf for $749 ($651 on a builders account) alternatively go to a kitchen manufacturer for more up market such as paradise kitchens in wetherill park or multiple other suppliers out there where you can get a nicer one for $1600 there abouts with granite etc (remember granie means more labour costs). To install a kitchen a tradie/carpenter/handyman can install carcases in one day.
5. rangehood install was $600; electrician labor for this ktchen reno was $1124 ( almost did the same thing as the plumber did) ; tiling of kitchen wall only $650 ( and this was crappy workmanship, I was told , with uneven messy grouting and this is the cheapes quote, that is why, i was told ); Once again a range hood can cost $100 for purchase at harvety norman (I just purchased one yesterday) and these plug into powerpoints. Your electrician can be purcaased for $70-$100per hour.
Your kitchen tiling is usually 3 meters tiles should cost less then $30 per meter (mine are usually $12-17pm) and install of tiler is $40pm usually) or inluded in their day rate.
I have diffent channels I tune into my life, as does everyone does. i wear nice clothes at times and other times I dress in thongs and jeans. If you walk up to a tradie with the attitude of I am a professional investor and this is my property with clipboard and nice car they will take advantage of this. I have 3 vehicles in driveway, and they range from sports car to family car to $600 ute. WHen dealing with trades, I drive the ute and dress for the occasion to avoid this. Quiet often the trades think I am a site manager obverse to the guy with the money who owns the project.
I hope this helps and gives insight to your next reno project.
I have attached link of a property I just had renovated in 7 days for $7000. I paid two guys $2000 each this is $4000.
Kitchen $750, paint $400, bin $250, misc $500, flooring $1100. This is a real reno only shot last week, and I even introduce the ute into the equation
Nathan
p.s. one final note, now days I dont just paint a property, if I am going to paint I use my standard fixtures and fittings throught the whole place and renovate the whole property. The reason being is it all looks new, and commands a better rent and good for adding percived value. Aiding this, I can get the trades to do more work and save time. For example painting a house with cut in can take ages, if they need to cut in around the floor will take an extra day or 2 in care. If I remove the carpet, then painting is quicker saving $500 -$1,000 in labour and then spending that on new floor coverings.
