I'm loving listening to podcasts on all sorts of topics - especially interviews with business and property 'people'!
This time it's me being interviewed about Renovating to Profit, so jump over to the Everyday Property Investing website for a listen.
You can listen to it now or download it for your later listening pleasure! Enjoy. (Read More)
...fantastic results without the massive price tag."
Having Hotspace do a tailored Renovation Action Plan for me was a life saver. We had had a bad experience with some tenants who destroyed our property - but being armed with my Hotspace design re..
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Hotspace Blog
Renovating to Profit Podcast - featuring Jane from Hotspace Consultants
Jane Eyles-Bennett - Wednesday, April 24, 2013
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Gallery
Check out our gallery of clients' renovation photos below.
1 Haslingfield Way
$83,000 NET PROFIT + Sold within one week of being on the market! This property was purchased for $347,000 and then renovated for $50,000. It's just settled at $495,000. Total profit - $98,000 minus selling costs (approx $15,000) = $83,000. Note: Excl clients' taxes.more...
11 Old Castle Hill Rd
Helen Bednar bought this property in Sydneys Castle Hill specifically to renovate and then sell for a profit. She had a vague idea of what she wanted to do to the property, so called on Hotspace to develop her ideas, fill in the detail and make sure she was on the right track. Her primary reason for engaging Hotspace was because she wanted to: * Renovate the property in way that added the most value (for the least cost) - to reach or exceed her ideal sale price and projected profit * Appeal to the most number of prospective buyers so that she sold the property quicklymore...
12 Taylor Street
$70,000 Profit in 6 weeks! Just got a nice email from a client of mine who I did a Renovation Action Plan for on a cheap-ish property in Toowoomba, Queensland. She followed her plan to the 'T'. Just goes to show you can still make some good money on lower end properties! She says... "...The reno was completed in 6 weeks and rented for $265/wk within three days of being advertised on the internet. I had a new appraisal done by an agent and it came in at $240,000. The original purchase price was $135,000 and the total reno cost was $35,000. We are so pleased with the overall result and l would definately use your services again. Thank you"more...
17 Winthrop Street
David Biggs spent just $15,500 (DIY) on renovating his ENTIRE property by following the recommendations contained in his Renovation Action Plan. As he was renovating to sell, his main goal was to spend as little on his renovation as possible but to sell for the greatest amount. In fact, thanks to the Renovation Action Plan and some clever bargain hunting, we helped him renovate the kitchen for just $1607. AND the property sold in just 2 weeks! (click on the images to enlarge)more...
25 Titirangi Rd
This Hotspace client purchased this property for $252,000. His renovation cost him spot on $25k and transactional costs (selling/legal/Hotspace/staging fees etc) came to another $25k. The property sold after just a few weeks on the market, for $340,000. By following the Renovation Action Plan we wrote specifically for this property, he was able to stay on track and stick to his budget. He could predict a profit from the outset, because the numbers stacked up and he had a pro renovator to guide the specifics of his renovation.more...
34 White Cedar
Our client purchased this property specifically to do a major renovation. Since there were quite a few structural changes required, she consulted a draughtsperson to complete the working drawings (for the builder/approvals etc.) and then worked in with us to provide the cosmetic touches and to pull the whole colour and materials side of things together - which most draughts-people don't want to get involved with.more...
38 Seventh Ave
$5,000 RENO - one for the record books! Our client needed to do a low cost, high value reno in order to transform her property ready for rental. She's an experienced renovator and has done several successful renovations in the past but decided to call on us to help her really slash her costs and make a top profit from her property through increased equity and rental income. Before the renovation, the property attracted very low grade tenants paying just $230 per week. Now, having spent just $5,000 on the exterior and another $5,000 to furnish the interior, the property rents for $400 per week. Want to know how to do a lower cost reno that'll add great value to your property? Check out our Renovation Action Plan page and see what you could be missing out on!more...
40 St Vincents Ave
Still waiting on the final figures for this one. $25k reno costs and renovation took 6 weeks. Purchased for $304,430 and approx reval is $385,000. Looking like a gross profit of about $55,000. Not bad for 6 weeks work!more...
42 Jones Parade
Sam bought this property in Coolum, Queensland to renovate for a profit. She had plenty of her own great ideas but needed an experts eye to pull the design together and make sure she didn't spend any more money than was absolutely necessary. We advised her of the design details such as colours, materials, fixtures and fittings - as well as the areas to reno and the bits to leave alone. Note: click on the images to enlargemore...
43 Ahern Street
First time renovators Lucy and Lee called on Hotspace to show them how to make-over their two bedroom unit for the best aesthetic and financial result. Worried that their lack of knowledge and experience would mean they would do the wrong things and spend too much money on their renovation, they saw a Renovation Action Plan as their key strategy for success.more...
44 Tilsley Street
This $13,000 (+ gst) cosmetic renovation increased the rental income from $320 per week to $380 per week.more...
46 Tradewinds Ave
I don't think words can describe this transformation! Our client bought this property to live in for a year and then renovate to eventually sell. To make sure she spent her money on doing just the right things to raise the value of the property most significantly - and to design the property in a way that was most appealing to potential buyers, Samantha called on Hotspace to prepare a Renovation Action Plan for her.more...
48 Allworth Street
$90,000 additional equity to use on the next investment - in just 2 months! Who said it's hard to make a profit from cosmetic renovations in this market? Yep, property purchased for $320,000. Renovation cost just under $20,000. Estimated revalution $430,000 (real estate agent estimate only at this stage). Rent increased from $300 up to $400 per week.more...
51 O'Nelly Road
For just $9,185.16 (including all supply and labour costs), Melanie MacDonald renovated the entire interior of this property in 4 weeks. She has increased the value of the property by around $40k-$50k (approximate only) and now has potential tenants beating down the door to rent the house from her.more...
55 Station Lake Road
$25,000 to renovate this entire property - Can you believe it? Julie and Eugene Bongiovanni bought this house in Lara, Victoria, specifically to renovate for a profit. Because they wanted to renovate the property quickly and do only things that would modernise and add value (so they could sell it for top dollar), Julie and Eugene called on Hotspace. They sent us loads of photos (about 70!), together with a sketch plan of the property. We then talked the photos and property over with them, before preparing their Renovation Action Plan over the following 10 days. (Note: Click on the images for a close-up look)more...
58 Rogana Crescent
How's this for a $20,000 renovation? Worried that they weren't 100% sure what was going to add the most value to their property, Mick and Sherralee Brougham called on Hotspace to design their renovation for them. They followed the instructions we gave them in their Renovation Action Plan - and with a bit of elbow grease of their own, got this excellent result for just a little over $20,000 (entire reno - inside and out!).more...
60 Fishing Point Rd
The Renovation Action Plan we prepared for this property and client recommended small but significant changes to it's appearance. Changing some of the colours, crafting the landscaping and adding some effective details (slatted gable, porch enclosure, pavers etc.) has modernised and 'sharpened' this property exterior substantially. We knew the right things to do - do you?more...
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63 Stacey Place
Renovating this property was made simple for the Dubai based owner because she had a clear cut plan of what she was going to do to the property even before landing back in the country! By following a Hotspace Renovation Action Plan prepared specifically for her, she was able to organise pricing and trade-people before returning to start the renovation work. Simple, clever recommendations made the process even easier. In the case of the kitchen we recommended she remove the over-cupboard (to give the illusion of more space), the new bench-top, the new flooring and the new paint colour on the walls.more...
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64 Alford Street
This was one of my first ever (personal) renovations. Overall renovation costs were approx $40k with the exterior portion being about $18,000 including landscaping and decking. Best of all, the property rose in value from $339k to $450k virtually overnight!more...
65 Wildley Road
Our clients' primary goal was to increase the value of this property in order to return a higher yield. In just 4 weeks of renovating they totally transformed this 2 bedroom unit and increased their rental income from $265/week to $350/week - an increase of just under 25%! One of the things we advised them to do in their Renovation Action Plan was to 'tweak' the older style kitchen. For just $2,000 + appliances and flooring, the new open plan lighter, brighter kitchen provides a modern centrepiece for the property.more...
67 Yvonne Crescent
Our client didn't want to do a lot of work or spend a lot of money to dramatically improve the exterior of their property for the purpose of re-valuation and/or re-sale. So with that in mind, we recommended in their Renovation Action Plan a few simple changes to the paint colours, garage gable, driveway and garden.. and what a difference those few things make!more...
69 Winifred St
Here’s an example of a smart, simple exterior renovation that added incredible value in just a matter of weeks. Using some key design ‘rules’ (called the design principles), the Renovation Action Plan we designed for this client recommended a wider style deck that ran along both front faces of the house - creating a balanced look to the property from the road. Our recommended exterior colours and some sharp landscaping add even more good looks - naturally increasing the property’s appeal and therefore value.more...
72 Eskdale Rd
This property originally had quite a ‘flat’, uninteresting looking exterior, so our advice to this client was to add depth to it by painting the block base only – they didn’t even need to paint the weatherboards to create this fresh, sharp look. We recommended a colour that was darker than the original colour but that would tie through well to the existing weatherboards. We also suggested within their Renovation Action Plan to paint the garage door and window sills, as well as some minor landscaping changes. A great result for just a few thousand dollars!more...
76 Konrad Street
Just a few simple changes to this property exterior created a more defined, modern look. We recommended in the Renovation Action Plan that we wrote for this property to only spend minimal money on the exterior (since it really only needed 'tweaking') and gave precise instructions on how to achieve these recommended changes.more...
81 Warren Ave
This tired two bedroom rental unit was purchased for $270k. After only one month of renovations following a Renovation Action Plan prepared by us (and a total cost of just $15k), it is now worth upward of $375k! Original rent earned was $240 per week and increased rent after renovation is $375 per week (which includes whitegoods). The yield has increased from around 4.5% to 7.2%. Not the greatest photos in this gallery - but certainly the most profitable!more...
83 Sylvania Cres
Our suggestion to re-use the existing cabinetry came as a surprise to our client who had originally intended on removing it and buying a whole new kitchen. Instead, they created this new looking, fresher, brighter kitchen for just $4,000 by following the advice we gave them in the Renovation Action Plan we prepared for them.more...
85 Martin Ave
Originally this property looked dirty and cluttered from the outside. However, in the Renovation Action Plan we wrote for this client, we recommended the most simple of changes to lift and really sharpen up the look of the house exterior. The cost? Around $2,000 for the entire exterior. The entire house renovation cost just $17,000, took just 14 days and returned a profit (after reno costs) of $50,000!more...
87 Nichols St
Before this house was renovated it was dark and uninviting. We recommended to this investor client that they lighten and brighten the appearance of the property so that it was a lot more appealing and valuable to potential buyers or renters. By reconfiguring the landscaping and removing the dark sunroom windows (on the right) the exterior of this property was improved in just a matter of weeks.more...
88 Glendon Ave
In the Renovation Action Plan we wrote for this property, we recommended new ceiling mounted light fittings, just the right wall colour, just the right carpet and some modern, easily installed window treatments to moderise this house – helping it add $50,000 value (after expenses) to this property in 10 days!more...
90 Connaught Ave
We knew that light, fresh colours would help lighten and brighten this small, badly lit unit and so recommended everything they needed to do to get that effect. Increasing the perception of space creates a more pleasant environment to live in - and therfore a higher perceived value to the property. A Renovation Action Plan gave this client all the action points to follow as they carried out their renovation - easy!more...
92 Cronin Ave
This solid block of units looked very tired and worn when we were first introduced to it. Our advice to this client (in their Renovation Action Plan) however, saved them thousands of dollars (if not tens of thousands) and improved the look of the property ten-fold. We recommended paint colours, tiles, ballustrade details, common BBQ area details (paving, landscaping etc...) as well as the colours, fixtures and fittings for all 5 unit interiors.more...
93 Kyla St
As a result of following the Renovation Action Plan we wrote for this property, our client spent just $8,000 on renovating this unit. One of the things we got them to do was paint the timber wardrobe doors and change the door handles. As you can see, this transforms the space entirely.more...
94 Lake Rd
To increase street appeal to this property, we recommended to this client that they remodel the garage doors, re-paint just the trims (window sills, handrail etc…) and tidy the landscaping around the property. Using some key ‘design elements’ our recommendations gave this property a real designer edge with only minimal changes (and expense) and added huge appeal and saleability to the property.more...
95 Loatta Court
Refreshing the exterior of this property was as easy as clearing away the front yard and painting the weatherboards a cleaner, fresher colour. Paving the grassed area adds to the crisp effect though a patch of dense healthy grass would have been just as effective (as recommended by Hotspace!)more...
98 Bairds Rd
We wanted our client to lighten and brighten their kitchen in order to significantly improve it's appearance. It only cost him $1000 and helped achieve an approximate net profit (after all expenses) of $15,000 overall on this property - in less than 3 weeks.more...
