You will learn the following 8 important steps:
Step 1 – How to determining a target area
- how to select a 'region' based on your affordability.
- selecting 3 or less target suburbs or townships.
- how to identify suburbs or regions with renovation potential.
- inner city suburbs and key purchase criteria.
- metropolitan suburbs, key purchase criteria.
- regional areas, key purchase criteria.
- suburbs where renovations will not work.
Step 2 – Suburb due diligence
- how to do due diligence on a suburb.
- how to intimately get to know your suburb.
- assessing the 'types' of housing in your chosen area.
- understanding the suburb 'demographics'.
- how to identify who are the buyers in your chosen suburb.
- how to identify what the potential 'buyers' want.
- creating 'a product' to fulfil 'the demands' of buyers.
Step 3 – Property due diligence
- how to become an expert in property values.
- how to establish a 'due diligence' system to help you decide.
- how to do thorough research on a potential property.
- understanding 'negative' and 'positive' Price Pockets.
- street and locality considerations.
Step 4 – Analysing the potential
- how to quickly assess if a property has Profit Potential.
- 100+ ways to add Real Value to a property.
- how to add the Wow Factor to your property.
- identifying costs of the Project.
- how to calculate how much profit is in the deal.
- determining what cash you will need to see the project to completion.
- how to do a detailed Financial Feasibility.
Step 5 – Acquiring the property
- creative negotiation techniques.
- how to get started with no money.
- ways to find your deals.
- dealing with Real Estate Agents.
- how to get on the Real Estate Agents' Favourites List.
- understanding Vendors and their needs.
- negotiating on For Sale properties.
- auctions, how to control them.
- doing the Deal by creating a Win / Win for all.
- how to structure and submit offers.
- understanding Banks and how they work.
- how to prepare your Finance Proposal.
- getting Finance to fund your Projects.
- how to use Valuers to your advantage.
Step 6 – Creating a higher and better use
- - how to select an Architect, Building Designer or Draughts Person.
- - how to brief and work with your Design Team.
- - the Architectural planning and design process.
- - pre-development assessments.
- - the types of development classifications.
- - understanding LEP's / DCP's.
- - how to prepare a Development Application.
- - the Council approval process.
- - the Construction Certificate Stage.
- - consultants you will need.
Step 7 – The renovation process.
- why you do not need construction experience.
- which role will you play ? A DIY'er or the Project Manager?
- how to professionally establish your site.
- managing the time, cost and quality control factors.
- OH & S responsibilities on site.
- understanding trades people and their needs.
- how to establish your team of tradesmen.
- how to negotiate with Tradies.
- how to Project Manage your Tradies.
- working with builders.
- how to select the right Builder.
- how to get your Builder working to your timelines.
- where to find your renovation goods and materials.
- how to get your materials at the lowest price.
- the order and sequence of construction.
Step 8 – Project completion.
- how to create the right 'first impressions' with buyers.
- understanding why time of year can affect your sale.
- how to choose between an Auction or For Sale, which way to go?
- 10 ways to increase your rental yields.
- how to maximise your sale price or rental return.
- selecting the right Agent for your property.
- getting an Agent to work hard for you.
- the marketing campaign.
- how to make your property stand out.
- how to professionally present your property.
- exchanging Legal Contracts.
- - process improvements and learnings.
Course Dates and Venues for 2014 are now available. Seats are limited. Submit the Expression of Interest form form to book yourself into the 3 Day Workshop on Renovating Homes for Profit.