Investment advice?????

I would suggest that the renovation approach would be more successful in capital growth areas (ie perth) BUT these would likely be negatively geared.

Try reading Peter Spann’s book 10 million in 10 years.

I have a job and do part time renovating at the moment to help grow my portfolio to a point where I can transition into full time renovating and development like you guys want. You increase the value of your properties (more equity = more deposits) and also bump up the rent.

It is a tried and true method the wealthy have used for a long time to leap-frog this way. It works best in capital growth areas as you can expect 5-10% capital growth averaged over 10 years. You don’t always get this in your cashflow positive areas which are usually remote areas.

I hear that the WA market is still strong, so you might be well placed to start.

You kind of need a good regular income (jobs) to get finance to keep buying property.

Or you could try finding an investor who is cashed up and offer to do renovations for them and take a percentage of the profit you make by adding value. Might be cheap rent too If you live in property while you renovate.

Good Luck!

Lifexperience

Hi Im Leisa

I read you message in relation to your self and your partner doing renovations. If you havent already had enough help I may be able to help you.
I am a renovator and a real estate agent.
We renovate one property per year. I really like brick and tile properties. Old timber properties can have to much to go wrong.
We stick to a very tight budget.
We would spend generally no more than $5,500 on the property. normally $3,500 in in the carpet.
about $500 on paint. We change the shower glass and make them clear. But we make our money because we do everything ourselves and we do it well. Dont get me wrong its hard work but rewarding.
We pick up a home that looks very unloved. Generally between 10 – 15 years old.
I choose the colours very carefully. The base colour I am using at the moment is white. We paint our selves, there is no cutting in on the ceiling with white and we do two coats with a good dulux wash and wear. Then we put a maximum of 3 feature walls through the property.
I try to find properties that have neat cleaning areas. Bathrooms kitchen laundry. if these areas can be worked around you will have a better profit.
It is a must to have new carpets. This time I put down a chocolate carpet and used a colour called mohair as feature walls it blends well with our dark timber furnature.
Your dont have to have showroom furnature.
I dont theme anything. I just keep it simple. I now have a collection of paintings none of them under $350 and they just add character to the rooms.They are in gold frames and the pictures are in brown tones.
I didn’t always have nice things to do this with. I just did the best with what i had.
We rotary hoe the soil (Green fresh grass always looks good) And create a basic modern garden from mostly clippings. And buy a few feature plants.
I always leave room for the next owner to add their touches. Meaning we dont do everything. Leave some room for them to make it theirs.
Have no clutter. Get a storage shed if need be.
One of the main keys is the house has to be extremely clean. Everything you can see and cant see must be really clean. Stoves inside light, cupoards inside window tracks and most of all windows.

I alway check out what properties have sold for in the area. And am sure not to put the property back on the market overpriced.

But I am sorry I dont know where all the positive geared properties are in perth nor on the gold coast, but it has not stopped me making money out of property.

Feel free to write if you have questions.