In today’s show Jane Slack-Smith gives us the renovation lowdown. Hear about her live renovation workshop webinar that was a huge hit…
Kevin: Over the last few weeks, I’ve been telling you about The Ultimate Guide to Renovation. By now, if you have hooked up onto that, you would have received the fourth video, which has just gone out. The host of that program is Jane Slack-Smith, who joins me once again.
Jane: Hi, Kevin.
Kevin: Let’s talk a little bit more about The Ultimate Guide to Renovation. Already whet the appetite of so many people with those great videos. Where are we at in the program? Is it too late to get involved?
Jane: No, we do open enrollments for a week only, so they do close hard and fast this Thursday night. People can still get involved.
Kevin: Okay. Now, what is involved? What can we expect to find inside the program?
Jane: There’s so much. In actual fact, it’s a 12-week online course, so the first six weeks, we spend so much time actually going through locating the right area that’s fit for your buying criteria and actually understanding what your buying criteria is with the view of renovating.
Then in the last six weeks, it’s the fun bit. We get into structural renovations, we get into cosmetic renovations, we get into buy-and-hold strategies, buy-and-flip strategies. It’s a lot of fun.
Kevin: One of the key things behind all of this, of course, is the ability to create some extra value through renovation, to add value to a property.
Jane: Absolutely. There are so many properties throughout Australia that are ripe for renovation, but making money from them is a completely different story – and that’s what we concentrate on.
Kevin: On the website, you’ll find a link, because I think there is one final webinar coming up.
Jane: The final webinar will actually be on the 17th at 8:00 p.m., where we’re talking to people. We’ll be going through a lot of information and talking about where to buy and what to buy when looking for renovating properties.
It’s going to be really exciting, because the thing is that most people can spend their time, effort and money in renovating in the wrong areas and not making money and not knowing where the right areas are in a property to make money from renovating.
Kevin: Give us a bit of a sneak peek about some of your tips about creating that value through renovation. Where do we go wrong, and where do we go right?
Jane: I think there are the things that we can really create the “wow” effect on, everything from starting from the street appeal, because we know that we’re going to get a first impression and you can’t change a first impression. We want to look at the street appeal, and we really want to nail that.
Once the people open up the front door and walk in, the kitchen and the bathroom are where you can add the most value. It’s all about perceived value, not actual cost. I think that’s the real difference where people can actually make money with a renovation.
But there have been some trends in the recent past where I think people have invested in renovating in things like the media room, the outdoor room, the butler’s pantry. These things are trendy, they look great on TV, but the reality is unless you’re renovating for your own home and taste or maybe renovating to flip a property to the owner-occupied market, these could actually be a big waste of money.
Kevin: That’s tremendous advice. I haven’t heard that from anyone before about those, but you’re right about those trendy things. When you think of the media rooms, they’re very personal. What about the key rooms, the kitchen and the bathroom; are they still the big “wow” areas, Jane?
Jane: Absolutely. You can get it so right and you can get it so wrong with the kitchen and bathroom. We’ve had students go through the course in the past who said, “We’ve done 11 renovations. We were just about to rip out the kitchen, but we got in and saw what you did with painting tiles or replacing the bench top, etc. For a fraction of the cost, we were able to transform the kitchen to make it look like it was a brand-new kitchen.” It’s around that aspect of actually making money from your renovation that we really concentrate on.
Kevin: If you want to get the inside run if you’re looking at doing some renovation, I strongly recommend you look at The Ultimate Guide to Renovation. Once again, the webinar is coming up a little bit later this week, the 17th of March. Is that when the enrollments will close, as well?
Jane: Absolutely. A hard-and-fast close for at least another six months because we really want to jump in. There’s the private Facebook group and we have our group mentoring calls, as well. We really want to get people into the course and actually get some value out of it rather than being just another course that people buy. We’re really going to concentrate, especially in the next 12 weeks, in taking people through that entire course and getting some real value out of it for them.
Kevin: Look for the button on the homepage at RealEstateTalk.com.au. Click on there, get in for the webinar, and don’t miss The Ultimate Guide to Renovation.
Jane Slack-Smith, thank you so much for your time.
Jane: Thank you, Kevin.