podcast

How to add value to your property without overcapitalising

How to add value to your property without overcapitalising

Rich Harvey - Propertybuyer

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Valuating strategies come in many forms. You can do a cosmetic renovation or a structural renovation. Most investors I would advise to do a cosmetic renovation - that's paint, carpet, polish the floorboards, maybe do kitchens and bathrooms and adding the right features. The trick with renovations is not to over capitalise. I see far too many people putting in really high end kitchen appliances in suburbs where it's not required and it doesn't increase the rent. So the one tip for investors is just to temper your enthusiasm on the finishes. You're not going to be living in it, you're just going to be renting it out. Another good strategy investors can use is granny flats. We've helped hundreds of our clients buy granny flats in Western Sydney and we're now moving into the Brisbane market. We're finding a good quality granny flat around $100k will deliver $300 a week in rental return. So it's a fabulous strategy. And our last strategy is subdivisions. You can add a lot of value by subdividing a block as well.

 

 

Listen to other instalments of The Smart Property Investment Show:
Episode 89: Renovating as a couple: two young investors share their story
Episode 88: Everything you want to know about the short-term rental market revealed
Episode 87: BONUS EPISODE: Former Olympian shares his property development know-how
Episode 86: How a former Olympian found new sport in property development: Ed Fernon's success story
Episode 85: Q&A session with Paul Glossop – more questions answered!
Episode 84: 'How I overcame dodgy builders to manufacture $100k in equity in less than a month'
Episode 83: BONUS EPISODE: Top Aussie broker’s tips for surviving changes to mortgage lending
Episode 82: The investment strategy that could allow this 32-year-old to retire TODAY
Episode 81: BONUS EPISODE: Secrets of the Perth market uncovered: invest now or wait?
Episode 80: Q&A session: SPI answers all your burning questions
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