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Your renovation profiled in API Magazine

Discussion in 'Renovation & Home Improvement' started by Daisycutter4, 18th Aug, 2015.

  1. Daisycutter4

    Daisycutter4 Well-Known Member Premium Member

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    Hi all,
    The editor has asked one of my fellow journos to profile a renovation project where the investor made back at least double the cost of the renovation work (e.g. "We spent $50,000 on the renovation, and then sold the property for $100,000 more than what we paid for it originally"). They want to avoid projects where the market drove all the capital gain of course - the gist is about buying well and being smart with your project. A quick turnaround and big profit always read well too (obviously).
    It would involve disclosing figures and discussing the process, as well as photos of your good self/selves and the property.
    If anyone is interested, or has any questions, feel free to private message me.
    Cheers
    Kieran :)
     
  2. Jacque

    Jacque Buyers Agent and Bookworm, Sydney Business Member

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    Hi Kieran :)

    "They want to avoid projects where the market drove all the capital gain"

    Well that cuts out Sydney for the last 2.75 years LOL :D:D:D
    If I think of any clients I'll let you know ;)
     
  3. Daisycutter4

    Daisycutter4 Well-Known Member Premium Member

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    Too true Jacque! Was going to say that in the post but then thought there might be someone with a handy tale to tell from the great southern state :)
    Look forward to catching up with you on the phone sometime soon too.
     
  4. Moist

    Moist Well-Known Member

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    Hi Kieran,

    I'm currently finishing a renovation project in Bald Hills, 21 Midland St. to be exact. Theres pics online as it is being advertised for rent now. I'll have spent about $35k on it in total and it would be revalued at about $70k more than I bought it. I'm not planning on selling however, so I'm not sure if it would fit your brief.....

    Let me know if this would be of interest.
     
  5. bob shovel

    bob shovel Well-Known Member

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    Is there a free subscription on offer for the story?:)
     
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  6. RetireRich101

    RetireRich101 Well-Known Member

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  7. Daisycutter4

    Daisycutter4 Well-Known Member Premium Member

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    Beyond my payscale Bob but I'm sure a few issues could be sent your way without the boss worrying too much. :)
     
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  8. Daisycutter4

    Daisycutter4 Well-Known Member Premium Member

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    Wow! I'm actually a big fan of capital growth via the market myself (maybe I'm just lazy :p ). I wonder if she's hoping for closer to $3M
     
  9. RetireRich101

    RetireRich101 Well-Known Member

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    You might find a promo coming your way, if suddenly all pchat members here is reading API every month for next 12months, courtesy of Kieran@API (wishful thinking)
     
  10. Daisycutter4

    Daisycutter4 Well-Known Member Premium Member

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    I'll take whatever support I can get at my advanced years! :D
     
  11. spludgey

    spludgey Well-Known Member

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    While this might sound impressive initially, this fictional scenario sounds like it wouldn't have been worth the effort. Once you factor in holding costs, stamp duty, legals, opportunity cost, agent's commission, CGT, advertising costs, etc, I would be surprised if you'd come out on top.

    I find that often articles in investing magazines seem to not make the reader aware of this, which is a little disappointing considering that the readership would likely be largely comprised of novices.
     
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  12. Daisycutter4

    Daisycutter4 Well-Known Member Premium Member

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    Fair call Spludgy - and I suppose we'd like to profile the most profitable/successful projects we can but not everyone is keen to be profiled (which is totally understandable). Often its a case of just being able to pick the best available case studies to profile, rather than landing awesome ones each time. I hope that there's always a lesson or story beyond the numbers when writing a pice.
    Anyway - it's a fair point you make. :)
     
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  13. bob shovel

    bob shovel Well-Known Member

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    @spludgey same as the shows on tele, your basically getting the agent a bigger commission and donating more to the gov. Holding is a much better strategy
     
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  14. D.T.

    D.T. Adelaide Property Manager Business Member

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    If you hold it works out.
     
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  15. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    @Daisycutter4 Does it need to be a sell? What about a reno that costs 'x', reval and pull double costs in equity?

    To be honest I don't know how many reno-and-sell types you'll find here, as mentioned the transaction costs make the strategy too unappealing unless you're in a hot market, which you've said you don't want.
     
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  16. Azazel

    Azazel Well-Known Member

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    Should be plenty of those around.
    Did one myself (except x8 - the market may have had a little to do with it);)
     
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  17. Daisycutter4

    Daisycutter4 Well-Known Member Premium Member

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    It probably could be an equity gain situation - I'll check in with the journo doing the story to see which direction she's heading in. Thanks for that Jess.
    Kieran
     
  18. Daisycutter4

    Daisycutter4 Well-Known Member Premium Member

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    Actually Jess - YES! is the answer. Angela will look at case studies showing equity gain rather than profit on sale.
     
  19. spludgey

    spludgey Well-Known Member

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    @D.T. There you go mate. Keen to put your recent purchase in a magazine?
     
  20. Azazel

    Azazel Well-Known Member

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    Interesting. Mine's in a regional area, so more impressive without those crazy Sydney gains I guess.
     
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