Reno Kings - Property Investing and Renovation Resources
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Renovation Know-How,Tips, Tricks, Traps-to-Avoid and Interviews, & examples you can follow to be successful at property. Always  a great read.

 
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News

Rethink Your Rent Return
For anyone looking to buy an investment property to hold long term, we generally want to see a pretty good rent return. Over the years we’ve seen some cracking returns, or at least that is how it seems at first glance.
 
One plus One = 3
Yes I know that doesn’t add up, but in fact for these mum and dad developers, this is the case.

This upmarket duplex is nearing completion and I have followed the construction time-line very closely as they were built opposite my own PPOR (Principal Place of Residence)!

I have previously written about this little development but I thought “time for a relook” seeing as I’m shortly about to have new neighbours...assuming the duplexes sell of course.
 
Negotiating a Reduction in Price after a Sales Contract is signed!
When you place a property under contract subject to conditions, such as a ‘building and pest’ clause, most investors must be  aware that should those investigations identify any problems, that you can renegotiate the price of

your contract. However, many who find themselves in this position have no idea of the best way to go about it. The process itself is actually fairly straightforward and effectively involves two (and a half!) steps...
 
Announcing Our Next Two Intimate Workshops in May 2016
The first two Reno Kings Intimate Workshops held in February, were such a great success and we received some awesome feedback. As a result, we have now launched the next two workshops in this series, coming up this May 2016 in Brisbane.

Each of these intimate workshops only have 27 spots available, however pre-bookings were available to our lucky attendees from the first workshop, which means there are not as many left.  

Be quick...so you don't miss out on spending the day with The Reno Kings!  
 
Staying on time, contingency plan and top tips
As much as possible, plan your renovation around the Weather Radar and Forecast. This way…you should have a fair idea of what to expect, weather wise, a few days in advance. BUT remember, just because it hasn’t rained for 6 months doesn’t mean it won’t torrent down during the week that you have everything organised for painting the outside of the house!
 
Your A-Team, Materials and Storage
A-Team

It’s never too early to start to organize yourrenovation A-Team.

Finding yourA-Teamis a critical step in ensuring the success of your renovation. Once you have a reliable and well-priced team, maintain a great relationship with them to ensure future success.
 
Why stalking on Facebook can pay dividends
On Saturday we hosted a lively bunch of keen property investors at our first Intimate Workshops for 2016, including a few who managed to make it all the way from Perth and some others from Melbourne – hats off to them! 

There were a few interesting stories, one of which we just had to share with you...
 
Last Chance to Book!
In just two days we will be inspiring an intimate group of property investors at our two brand new workshops - 'Negotiating and Buying Well' and 'No Plan No Profit'.

If you are not one of those already booked to attend, this is your last chance to join us!
Only 1 place left at our Negotiating and Buying Well Workshop.
Only 6 places left at our No Plan No Profit Workshop.


There are no plans to repeat these workshops in 2016, so get in quick!
 
Renovating, where do I start?
Congratulations! You’ve made the first step and purchased a property. Between now and the settlement, is where you will make your best decisions.
 
Buying Off-Market
When the market is hot, it is often beneficial to try and buy “off market”.

It may mean you are the only offer the seller is considering, or at the very least it should only be you and a maximum of a few others, instead of the 10 you can get from a great deal that finds its way onto real estate websites.
 
Top 7 Tips
Good things come in three’s; the three musketeers, the three stooges and the three Reno Kings!

This is an old subject, but it never seems to go away. Constantly we asked the same question, “Can you still make money doing renovations?” and the answer is simply, yes!
 
A Day in the Life of Geoff Doidge
Ever wondered how a Reno King spends their day managing a $20M property portfolio, with an annual rental income of $1.1M?

Here’s a glance at one of Geoff’s days across all areas of his life…
 
The Great Bedroom Hunt
At a past workshop clients were discovering areas for bedrooms and even better…space for Paul’s amazing ‘pencil ensuite’.

Even Geoff was caught up in the "Bedroom Hunt”.
 
Best Reno Bangs to make big bucks
1: How do you avoid spending too much on a reno?

Geoff: Your reno risk management starts right at the very beginning of the project… I mean, even before you buy the property!

You must be able to recognise the difference of a Gold-field from a Mine-field.
 
Announcing two Brand New Workshops for 2016
The Reno Kings are back and are holding their  first workshops in 2 years , coming up this February 2016.

Each of these  intimate workshops only have 27 spots available, so be quick.. so you don't miss out on spending the day with The Reno Kings!
 
More, More, More!
Giscard and Valentina are avid students of the Reno Kings and achieved fantastic results applying a number of their strategies.

Their existing character home contained 2 bedrooms and 1 bathroom and a front enclosed verandah.

They transformed the house with a cosmetic renovation into a 3 bed, 2 bath plus study home.
 
Time is not always on your side!
This property we look at makes you think hmmmmmm!

We have a nice single story property which is purchased at a fair price to be bulldozed down and another single story property is constructed.

As previously mentioned, PPOR’s don’t always follow the conventional rules for the property investor.
 
1 + 1 = 3
The Reno Kings are Masters at realignment i.e. moving the boundary to make one block bigger and keeping one of the homes.
This deal was different.

The original home was demolished and realignment completed to reveal two allotments.
The 604m2 parcel of land allowed a new home to be constructed and when completed was presented to the public via auction.
 
Strategy: LAND! They are not making it anymore
Close to Paul Eslick’s PPOR (principal place of residence), oodles of cash has been splashed on buying waterfront properties, only for the existing Taj Mahal to be demolished for the new, better and bigger Taj Mahal to be built.

What the? A savvy Investor knocking down one house to build two houses, makes sense, and it makes ‘emotional’ sense to knock down one to build one if it’s your PPOR.

But …according to Paul a few of these demolished properties were in much better condition than his own home, so what the hell is going on??
 
What our clients are doing...
The property was purchased in 2014 with the assistance of Justin Eslick from Investigate Property. 608sqm zoned LMR2 in a nice character area in Newmarket. Utilizing our A-Team, we receive Development Approval in January 2015, even though setbacks were not strictly compliant. The DA was for retention of the Queenslander home and two new townhouses in the backyard.

In July/August 2015 a major boundary retaining wall was installed, which was necessary to give us room for vehicle movements.
 

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