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What is the most profitable renovation strategy?

By Staff Reporter
0

Cam McLellan, CEO, Open Wealth Creation

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For an investor to knock a property down and rebuild it, I can't think of an opportunity where that would be the best option. The best option for an investor is to either buy a property where the established house can be fixed up and then sold on, or if they're developing they need to be able to maintain that established house and build one or two units on the back. By knocking down the house on the front, you're basically getting back to land content value. So if you're thinking about knocking something down only buy land content value.

 

 

Listen to other instalments of The Smart Property Investment Show:
Episode 65: Real estate agents: what separates the good from the bad?
Episode 64: How this investor learned from a property blunder
Episode 63: Q&A session: the SPI team answers your questions
Episode 62: Property procrastination: the importance of finding help
Episode 61: The ins and outs of strata: what buyers should consider
Episode 60: The pros of using a buyer's agent: why this investor brought someone in
Episode 59: How to invest in property as a team: two investors share their secrets
Episode 58: When do you stop investing? The SPI Show answers more listener questions
Episode 57: Wealth creation through property: trends and themes to think about in 2017
Episode 56: The SPI Show accountant reveals all: How to pick your financial team
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