Renovating using tradies

Do you usually make enough profit after renovating using trades for all jobs including kitchen/bathrooms/painting? Obviously make more if all or most was done by myself but can you still make a decent profit if you plan Renos and stick to a budget?

 

Some jobs need to be done by a trade and be issued a compliance certificate.....
But, if you plan, cost and project manage the reno well and stay within your budget then you can make some money....so long as you do not overcapitalise the property relative to the market.
Easy to say - hard to do.....
If you are handy and have some experience then you can add some sweat equity and save some money.
Hiring cheap labour like backpackers and using them for specialist jobs can be problematic and produce mixed results. Lot of the easy stuff you can do yourself to your standard.
Not sure what your market is doing - rising or falling. Harder to make it work in a falling market.
Hope this helps.
Good luck.

 

It all depends how cheap you get the property. The main benefit of buying renovators is the ability to pick up deals under market value.

Manufacturing equity is all about solving problems. The bigger the problem the bigger the reward, but also bigger the risk.

If you are paying someone to solve your problems for you then they are going to be making a profit... so the more you get on the tools the more profit will be yours to keep.

 

Imo the most important factor (profit wise) when buying a reno deal is good buying. Has to be a good buy price with good scope to add value when compared to renovated comparable sales.

 

Two trades I’d never skimp on would be tiling and painting they make the house
What you want to do is manage the trades yourself not hire a builder