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Hello and welcome! It’s Naomi Findlay here; Australia’s rapid renovation guru. I’m so excited to be here with you today because today I’m going to be sharing with you the top advantages of renovating for profit, renovating to make money and renovating to make wealth – however you would like to say it.
Renovating for profit and renovating to make money has been highly popularised in the media. Many Australians are absolutely god damn in love with renovating to make money. I can absolutely understand why.
I need to put a caveat in there that it’s not everybody’s cup of tea. It is hard work and can take some time. If you don’t have the right tools, team and formula, it can sometimes not fruit the results that you’re after. However, with the right tools, team and formula, it can not only be a great way to financial freedom, there are some other really cool advantages to it that renovating in a short time period – buying renovating and selling or revaluing to have it leased out – can have over some of the other property strategies.
Today, I’m going to go through those advantages with you.
Advantage number one is, generally speaking – unless there’s some outrageous downturn in the market in a really short period of time or upturn in the market in a really short period of time – you can be pretty much guaranteed that the market that you’re buying in is going to be very, very similar to the market that you’re going to be selling in.
When you’re completing all of your research of comparable properties, the possible post-renovation value of your property, you don’t have to factor in any massive market changes into your calculations. For me, that’s wonderful because it keeps it super, super simple.
The second big advantage I see to buying, renovating and selling – and one that I particularly love – is the gift of creation. This is actually the reason why I think so many Australians have fallen in love with renovating and also making money from renovating.
One of the things that so many Australians love – and I’m included in that – is the ability to pull something apart and put it back together that looks better, functions better, is worth more money and it was a great experience as we were doing it. That’s my second huge advantage to renovating after you’ve bought, just before you sell, in a really quick time period.
I need to put the caveat in there that when I say that I love rapid renovation, I also love flexibility. Being a mother of four, I don’t always have time for rapid. Sometimes the only rapid that goes on in my life is some stuff that happens at home of a morning before we get out for school. Be reassured that it doesn’t always have to be a quick turnaround, but it is something that I do love.
The third big advantage of buying, renovating and selling that I want to share with you is all about camaraderie. I see a renovation project as a little bit of an incubator – an incubator for wonderful relationships.
Many people have heard me talk before about my love of my team and my love of my trades and my love of my consultants. For me, they are absolutely part of my family. It’s the high pressure, rewarding and seamless way that you have to work when you’re working on a renovation project that creates some really unusual, exciting and rewarding bonds between the people working on it.
For me, that’s one of the most rewarding parts. My team that I have working on my project with me actually end up being part of my family. I’m thrilled to have them as part of my family. That’s my third huge advantage for renovating to make money.
The fourth one – really, this is attached to the fact that I’m quite fast paced. I’m a bit of an action girl. It’s that I love the fact that when I’m renovating for profit – buying, renovating and selling – it’s generally speaking quite a controlled time frame. I get that instant gratification in regard to property. I’m not sitting and waiting for 18 months or 2 years for a development site I may have started work on. I can, generally speaking, see amazing results and actually move a property from buy all the way to sell within eight weeks, even with a partial construction renovation. For me, that’s an absolute plus and I love that part of what I do.
The last one, which can’t be forgotten, is the fact that one of the things that renovation for profit, making money or return on investment does is it takes me, it takes my clients and it takes my students one step closer to financial freedom.
I’ve shared with you today my five top tips for why renovating to make money or why renovating for profit could be one of the best strategies you can use in the property market to set yourself up for financial freedom, for wealth, regardless of what that wealth might look like for you. Whether it’s financial wealth, lifestyle wealth or health wealth. There are some amazing advantages. The five that I’ve shared with you today are my top five advantages in regards to renovating to make money.
Thank you so much for listening today. I can’t wait to be with you again soon in another newsletter to download more of my top tips. Thanks for listening, guys. Bye!