How did you learn what to do, who to contract work out to, how to manage the project, how much to spend and what on, etc?
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How did you learn how to renovate and add value?
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Watch reality TV of course. ;-)
Go offer Ron Hoy Fong a week of free labour next time he's doing a unit up.
Get away from the computer and get your hands dirty petal.The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.
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Agree with PC
Take few weeks leave from work and go volunteer for someone who does it all the time. You can't learn it out of a book or off YouTube sorry.
It is a skill that can earn people tens of thousands a week so if you can learn it without having to pay someone to teach you then well worth giving up your time for.Plan and invest wisely - You only get one life so make the most of it!
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There is a very big difference between being a labourer and coordinating / managing a renovations and learning the process that happens and what buyers or tenants are looking for and what changes add the most value.
If you want to learn that process you would need to work with a trader or a buy and hold renovator and most are one person and generally run small teams at the most.
I am self taught (was a labourer & hammer hand through temp agencies) but if I had learnt off someone "doing it" I would streaks ahead of my current position.Plan and invest wisely - You only get one life so make the most of it!
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Originally posted by ScottSI View PostThere is a very big difference between being a labourer and coordinating / managing a renovations and learning the process that happens and what buyers or tenants are looking for and what changes add the most value.
Someone like this Fong guy charges tens of thousands for his 'education', why would he give it away free for something he could buy for $20/hr? Assuming you have a reasonable job, taking weeks off to work as an unpaid labourer in the hope you pick up something in the process is just bonkers, the net cost would be thousands and what are you truly going to get out of it?
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Originally posted by Purple Property View PostHow did you learn what to do, who to contract work out to, how to manage the project, how much to spend and what on, etc?
2) look at what others have done recently. You can also check out rental listings on Trademe, pick a few rentals that are nice and have high online traffic, pretend you are a tenant looking for a rental and look through the property and see how many applicants there are.
3) learn to maximise appeal with minimal cosmetic improvements
4) use tradespeople who are referred by friends, or try trademe services who have good reputation/feedback
5) observe and watch how the trades people do it, learn the sequence of renovation ie what to do first and what to do last
6) go to bunnings and see what the materials cost, observe how long the tradies take to do their work, get quotes, and then work out how much each renovation cost. DIY will also allow you to know how long and how hard the work is.
7) once you have done a few you will get good at it
youtube is your friend for DIY
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Originally posted by elguapo View PostMost of the time the free labour isn't worth the time you would need to put into someone to get value from them if they have zero skill. Then from the other side, what are you actually going to learn while doing this labouring
If you wanted me to treat you more than a labourer and actually teach you things then there would have to be a benefit to me (offered in the past and no one has ever accepted) as my knowledge earns me millions so it has real value (as does all of our coffee group members who often help investors for free)
I would also need to drop you if you didn't have the work effort or real drive and were a hindrance and that is more complicated if employee.
You can pay for this type of thing but unless you are earning 300+ k a year it would probably be better to give up a week or two of well planned renovation time (being I take 4 to 10 days to complete one). If you are earning 300k + wouldn't you just pay a project manager and trades men.
Many of us investors do part with knowledge for free within reason so it can be a way to go and make contacts in the industry.Plan and invest wisely - You only get one life so make the most of it!
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Originally posted by jimO View Postold saying in the trade.......he is worse than a man short.............if you cant work it out i can translate for you
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Having someone basically observing with a brrom in their hand is no drain and a good way for both parties to get some help. Obviously the benefit is heavily in favour of the newbie but they need not be a drain you just get them to do sh*t stuff of no consequence. Loading skips, sweeping whatever.....
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Would be stoked if someone took me on to work for free on a reno, ever do anything with Rotorua Scott? What sort of benefit to you are we talking? Got up to 4 properties with very limited knowledge but the builder/tenant I was working closely with is moving away. Based in Chch but willing to travel....
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Is this room by room rental Andy?
Looked, visited and analysed Rotovegas but couldn't get it over the line of my criteria.
Benefit - not getting in the way (thinking on ones feet) and actually breaking a sweat is the key. Lots always to learn if passionate about property.
Many ways to grow a portfolio also - I do the work but another friend contracts it out and has got to 25+ houses in 3 years. He knows what needs to be done though.Plan and invest wisely - You only get one life so make the most of it!
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