You Can't Make Money in Western Sydney #2

Good lawns?

 

Exquisite.

 

Haha, wow those before photos!

I love this. Another great example of what happens when you take action!

 

Fantastic!

 

Well done! Love a good Reno.

 

Did you diy the entire reno?

 

Although, obviously we CAN flip houses. That is not our main focus. No, we haven't flipped a unit, but we HAVE bought a unit for a low price with the intention of sprucing it up in a couple of years when the market turned.

You know, we didn't even water it. There was a little rain, that did the trick. We also got all the plants in the front planters for free.

Snooze, you lose.

 

Thankyou.

 

Yep!

 

@skater, I prefer the street appeal in the before photos - those windows were so attractive .

BTW, how many hours of “free” labour did you (and your team) put into this transaction?

 

12 cases of a nice Hunter Valley red

 

My 'team' consisted of me & Hubby, so lots. Mainly painting. I painted EVERYTHING, including the fence.

 

great job @skater . Fantastic result. Can't ask for much more.

 

Did you keep track of the hours you and hubby put in or have a rough idea of the total hours expended?

I know some people don’t value their time (that is NOT a comment aimed at you). As an example, my in-laws used to run a small “business” from home and they put in tremendous hours for it to make a relatively small profit, given the hours they exerted. It was really a “labour of love” (which is fine) but they wouldn’t see it that way.

I am trying to a picture of the true net gain from this transaction. Not including a notional cost for your+hubby’s hours of labour distorts the net gain IMHO.

I have a similar reno planned for one of our IPs in 2021 (too much on our plate to get to it before then). One of the key decisions for us will be “how much work we do ourselves vs how much we subcontract out”.

If you don’t want to share, I understand and that is fine. I would be happy with a PM if you are happy to do that.

 

You must have also bought really well?

 

Well, there is that!

 

I'm more than happy to share, but the reality is that I have no idea. I can't even work it out either. We had two on the go at the same time, due to a crappy tenant that we moved along, and Hubby got sick during the process. At first we'd spend half the day on one, then switch to the other. I got fed up doing that, so we changed to getting this one finished, but Hubby could only do a few hours at a time for quite a while there. I'd sometimes be working & see him struggling, so make him lay down, or we'd just finish up for the day. If he didn't feel up to it in the morning, we just did nothing that day.

Our third reno is now complete & has new tenants in place, so it's been a busy year.

 

This is a fantastic result and very motivational - the hard work, determination and drive is great to see and I look forward to seeing more of this.

 

I'm tired! I look forward to LESS of this.

 

It would be so great if there was a documentary about this. How it looks on Day1, Day2, Day x, work done, costs.