podcast

What is the most profitable renovation strategy?

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 78: Savings tactic: how house-sitting helps this couple save more money for property
Episode 77: How will the government's changes to tax depreciation impact investors?
Episode 76: SPI portfolio update: what's next for the team?
Episode 75: How travelling cross-country helped this investor buy 9 properties in 6 years
Episode 74: How this investor plans to double his portfolio within 10 years
Episode 73: Bad builders: how this investor bounced back
Episode 72: Policy changes to interest-only loans: what buyers need to know
Episode 71: How this 'stubborn' investor recognised a property lemon
Episode 70: How this investor complements each property and balances his portfolio
Episode 69: Are you a ‘lazy’ investor? Consider the benefits to working with a financial team
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