Rapid Renovation Formula student and reno-gun Tara set out to renovate this property for wealth... But in a different way than you might expect! Here is what Tara had to say about her incredible renovation journey:
Naomi originally helped us renovate to sell, but when we came to sell the market was bottoming out. We decided instead to hold the property and put it on Airbnb. We ran through the furnishing and styling with Naomi (what a golden opportunity!) and put it on Airbnb. It was 100% booked in its first month and has been going great ever since.
It was an unexpected path for us - we thought we’d be flipping houses. But we just pivoted, and now we’re so happy we did! We’ve decided now that this is the model for us - the cashflow is great and we have the property revalued at the same time. No CGT to pay with the uplift in value, and potential for ongoing capital growth. Is that what you call win-win?
We have three properties on Airbnb now and are about to kick off another renovation this week on a unit we’ll then put on Airbnb. We couldn’t be happier with everything we’ve learned from Naomi’s program, and having her as a coach was invaluable for the business side of things as well as the for the renovation.
It’s always the unexpected twists in life that make things interesting and fun!