{"id":3853,"date":"2015-03-24T01:00:15","date_gmt":"2015-03-23T14:00:15","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=3853"},"modified":"2015-03-24T01:00:15","modified_gmt":"2015-03-23T14:00:15","slug":"what-is-the-key-to-successful-renovation","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/what-is-the-key-to-successful-renovation\/","title":{"rendered":"What is the key to successful renovation?"},"content":{"rendered":"

 
\nJane Slack-Smith, <\/b>the mastermind behind the Ultimate Guide to Renovation, reveals why most renovations fail to make a profit.
\n <\/p>\n

Transcript:<\/h4>\n

Kevin<\/b>:\u00a0 Earlier this month, on the 3rd<\/sup> of March actually, we treated you to a fantastic webinar with Jane Slack-Smith and some great ideas on renovation. By now, you will have also heard about the Ultimate Guide to Renovation<\/a>. That\u2019s open right now, but it\u2019s only open for a limited period. I\u2019ll tell you more about that in just a moment.
\nJoining me once again, the lady behind the program, the mastermind behind this, Jane Slack-Smith. Good day, Jane.
\nJane<\/b>:\u00a0 Hi Kevin.
\nKevin<\/b>:\u00a0 Jane, these free videos that are running right now, tell me about what\u2019s inside these?
\nJane<\/b>:\u00a0 There are four videos in the video series that we put out, and they\u2019re packed full of so much information. The first one for me is what I find so many people make mistakes with is buying the wrong property, so what I\u2019ve done in the first video is actually take people live through a property inspection.
\nKevin<\/b>:\u00a0 We talked about that in that webinar, too. It\u2019s a great way to find out what are the right properties? Now, as we said there are four in the series. They\u2019re available right now. They\u2019re free. It\u2019s called www.FreeRenoVideo.com.au.<\/a>
\nA lot of very well intentioned renovators go wrong, Jane. Where do you see them go wrong?
\nJane<\/b>:\u00a0 There are so many things that people can avoid. Really, the number one is probably just missing the facts that they\u2019re renovating the wrong property. You really need to have pricing disparity between the renovated and the unrenovated property.
\nAn example of that, Kevin, is if you were looking at buying a property for $350,000, if the renovated property was worth $380,000, there\u2019s probably not a lot of room there for you to be making a profit. A lot of people see the opportunity with a rundown property and think they can probably fix it up with a lick of paint, where in actual fact, there\u2019s probably not money to be made there.
\nKevin<\/b>:\u00a0 A fine line between adding value and over-capitalizing, which is what you\u2019re saying, isn\u2019t it?
\nJane<\/b>:\u00a0 Absolutely. You can over-capitalize in other areas, as well. There are what I call the no- or low-return items. If you have to go and fix up the plumbing or the electricals, or if there are things that you haven\u2019t identified in your initial checklist, in your inspection, that then are going to cost you money, they\u2019re going to eat into your budget and they\u2019re going to cost you money and maybe not make a profit for you.
\nKevin<\/b>:\u00a0 One of the other things I know you talk about, too, in these free videos is all about getting the right location. That\u2019s another big mistake people make.
\nJane<\/b>:\u00a0 Absolutely. We spend a lot of time in the Ultimate Guide to Renovation looking at suburb due diligence and then actually selecting a suburb, as well. You\u2019re really looking at the right property in the right area that\u2019s right for renovation, and that to me is the key to successful renovation.
\nWe can get into pretty color schemes and strategic renovations and wonderful solutions on innovative kitchen designs, etc., but really renovating the wrong property to start with, you\u2019re never going to make money.
\nKevin<\/b>:\u00a0 Yes. Some of the things you\u2019re going to see inside the free video series are things like how to create a bathroom that looks great, how to make sure that you finish the property off well, and I also love the three most dangerous mistakes most people make when they\u2019re buying a property to renovate.
\nJane<\/b>:\u00a0 Absolutely. We hear this all the time, Kevin, the fact that people get emotional about even their first property investment. They think about the color schemes or the things that they would like to do with the property themselves in their own home, and they make it an emotional buy, and that\u2019s just the number one wrong thing to do when you\u2019re buying a property.
\nKevin<\/b>:\u00a0 If you\u2019re interested in renovation, perhaps you already own an investment property or your own home maybe, or you\u2019d like to start using property to make a profit, now build wealth through that, and you can do that by watching this video series. It\u2019s absolutely free. It\u2019s available for you now, but only for a limited time. The website is www.FreeRenoVideo.com.au<\/a>.
\nI have to mention, too, that the Ultimate Guide to Renovation, you can get a lot more information, too, by watching that series of videos, but the entry is open right now?
\nJane<\/b>:\u00a0 Yes, that\u2019s right. The enrolments close on the 26th<\/sup> of March. The reason that we do this is because we want to jump straight in with the content with our students. We hand-hold people through. There are product Facebook groups, there are mastermind groups, there are Q&A group monthly calls with me personally. We\u2019re really dedicated to making this successful for people rather than just leaving them by themselves.
\nKevin<\/b>:\u00a0 You can get all the information you like on that program at www.FreeRenoVideo.com.au. <\/a>Go to that site, and we\u2019ll also be letting you know, too, as a subscriber to Real Estate Talk how you can get involved. That\u2019s the Ultimate Guide to Renovation.
\nMy guest has been Jane Slack-Smith. Jane, always lovely talking to you.
\nJane<\/b>:\u00a0 Great talking to you, too. Thank you, Kevin.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

  Jane Slack-Smith, the mastermind behind the Ultimate Guide to Renovation, reveals why most renovations fail to make a profit.   Transcript: Kevin:\u00a0 Earlier this month, on the 3rd of March actually, we treated you to a fantastic webinar with Jane Slack-Smith and some great…<\/p>\n","protected":false},"author":176692471,"featured_media":3855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,25],"tags":[101,117],"class_list":["post-3853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-sponsored-channels","tag-podcast","tag-renovation"],"yoast_head":"\nWhat is the key to successful renovation? - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/what-is-the-key-to-successful-renovation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is the key to successful renovation? 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