Cherie Barber - you go girl!

Title of article is negative (media loves negative crap) but the result (reality) I think will be great for her.

I like what she's done especially with the kitchen. Had a chance to have coffee with her years ago and she's a really nice person too. Highly entrepreneurial.


http://www.domain.com.au/news/cheri...enovation-project-at-auction-20150905-gjfxan/

 

wow, that looks great,

sensationalism aside, I wonder how much she paid for in renos,

me thinks maybe $200k-$300k, without seeing the rest of the house, knowing her style of not going overboard

 

Hmmm... not sure if this is a real great result. According to the article "Cherie Barber (right) spent $1 million transforming an old cottage into a designer home."

Personally I will buy another property with $1m in 2008.

 

HI @Truly Exotic yeah I think your right. She's really savvy with materials, costs etc and has built up a vast network of contacts so I don't imagine she would have paid more than 200k (unless there is major structural stuff going on).

 

She sold

http://www.propertyobserver.com.au/...ecures-her-leichhardt-residential-record.html

 

And how much she paid for holding costs for those 7 years given that it wasn't being rented out.

 

If it was me I would also give those numbers to the media. Let the prospective buyer think an amazing amount of money went into the reno haha. Of course she aint gonna tell the truth of how much it cost, will kill the 'perceived value' to buyers.

She's a genius

Don't forget the publicity value from this. Prospective mentoring clients reading it.

 

I have seen her on the living room giving advice to renovators. Some of the best advice I have seen. Great stuff!

 

Judging by the way she is on living room, she's very frugal. Always finds a value for money option. That doesn't mean cheap, it means well priced for the quality of the product or work. Looking at the before and afters, she has sunk a decent amount of cash into this one.

Purchase price: $950,000
Reserve at $3.2 million
To bring a $1 million profit

Renovation and holding costs are around $1.25 million, if the numbers in the article are correct.

 

wow, so $300k in holding costs and renos, that must mean under $200k in renos,m

well done!!!

 

It says " She’d paid $950,000 in 2008 for the unliveable double-fronted 1890s house at 93 Hill Street and spent years converting it into a five-bedroom family home"

I highly, highly doubt it was empty for an entire 7 years.

 

I love the Google Street View advertising



Doing a quick Google search, no results or evidence of it ever being rented out during those years. Would she just have made it her PPOR while renovating it and working on other projects in the meantime?

 

@Kael Rp data is not showing it rented either but shows all current info. (but doesn't always show rent history). Quite possible as you said she was living in it.

 

Yes it was empty for that time. She used it as a showroom for site tours for her students - had her colours and products in there and she would give a demonstration on what renovations should be done on the house.

I assume it wouldve been paid off from student sign up fees or used as a pretty good deduction through her business.

 

Yeah,beachgurl is right. We done Cheries course some 5 years ago and spent a morning going through this property and it was probably at least 70% completed then.
She is a very determined lady,very entrepreneurial and dedicated.
She is not from a building/real estate background and genuinely believes that anybody can match her achievements.
Cherie presents as very genuine and ethical and I would be shocked if she ever knowingly done anybody a bad turn.

 

How have you gone with renovations since you finished her course? Was it value for money?

 

and apparently she is single !!!

maybe too busy makng those dollars

go girl, well done, utter respect

 

We have only completed one reno which did make a reasonable profit.
For a myriad of reasons we have taken a slightly different direction and formed a building inspection company,although our business plan is to return to property investment , (many strategies evolving),in some form.
We have never regretted taking her course,despite being in the building game my whole life I still learnt a heap. We have all the course content and access to Cherie,her team and the renovate for profit forum in W.A to exchange ideas,answer queries and source tried and trusted trades and building professionals.
For me it was like adding another tool to my kit.

 

At that time she was with Steven Tolle who I believe is the Father of her daughter.