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Cherie Barber - you go girl!

Discussion in 'The Buying & Selling Process' started by Leo2413, 22nd Sep, 2015.

  1. Leo2413

    Leo2413 Well-Known Member Premium Member

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  2. Truly Exotic

    Truly Exotic Well-Known Member

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    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
     
  3. FireDragon

    FireDragon Well-Known Member

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    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.
     
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  4. Leo2413

    Leo2413 Well-Known Member Premium Member

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    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).
     
  5. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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  6. House

    House Well-Known Member Premium Member

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    And how much she paid for holding costs for those 7 years given that it wasn't being rented out.
     
  7. Leo2413

    Leo2413 Well-Known Member Premium Member

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    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. :)
     
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  8. Perthguy

    Perthguy Well-Known Member

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

    Perthguy Well-Known Member

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    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.
     
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  10. wylie

    wylie Moderator Staff Member

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    Without reading it yet... was it really empty for seven years?
     
  11. Truly Exotic

    Truly Exotic Well-Known Member

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

    well done!!!
     
  12. Leo2413

    Leo2413 Well-Known Member Premium Member

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    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.
     
  13. Kael

    Kael Well-Known Member

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    I love the Google Street View advertising :cool:

    [​IMG]

    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?
     
  14. Leo2413

    Leo2413 Well-Known Member Premium Member

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    @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.
     
  15. beachgurl

    beachgurl Well-Known Member

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    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.
     
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  16. mush

    mush Well-Known Member

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    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.
     
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  17. House

    House Well-Known Member Premium Member

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

    TMNT Well-Known Member

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    and apparently she is single !!! ;)

    maybe too busy makng those dollars

    go girl, well done, utter respect
     
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  19. mush

    mush Well-Known Member

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    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.
     
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  20. mush

    mush Well-Known Member

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