Renovating an investment property can boost the growth of your property portfolio by providing you with an increased yield from rent, plus access to the potential equity created by renovating, and improved cash-flow with depreciation allowances. Renovating can occur on both small and large scales with both providing dramatic results when done correctly.
There are many opportunities in the current Australian residential marketplace for buying investment property with renovation and value adding potential. With the right investment property advice, this can mean rapid equity and wealth creation as well as honing in on opportunities overlooked by others for securing better deals for your investment portfolio.
Unfortunately many property investors make critical errors when renovating, by over capitalising or making the wrong improvements and ultimately end up losing money through this strategy. Therefore it’s very important to get the best property investment advice before you start. The days of simply buying a property and painting the walls and polishing the floorboards, to make fast money are long past. Renovating has become a popular pastime for many Australians, so making a profit through renovating requires a professional approach. Sourcing properties with a twist or making subtle but significant changes to properties can have a profound effect.
We have vast experience in this area, and can advise you regarding the viability of a renovation project.
Search Find Invest will provide critical property investment advice, access to data and access to related professionals for successfully buying investment property. Using this strategy, Search Find Invest can set you up in the right structure and plan, and help you undertake the best renovations, which will improve the capital value and rental yield and therefore maximise the overall return on your investment.
The key to adding value is to focus on the things that are important to buyers and renters and to not improve to your own personal tastes, but rather, choose what the majority of the market is looking for. There are also many alternative ways to add value and maximise your returns also i.e. granny flats, furnishing properties, renting by the room, etc.
However, the first critical step in this strategy is to target the right kind of property in the right area with potential to make improvements and add value to, for the type of buyer or tenant looking to reside in that area.
Search Find Invest offers expert property investment advice on how to select the right property, plan your renovation and put a budget in place and provide you with all the advice to maximise the returns within this strategy. As a part of our service, we can even put you in contact with recommended, reputable and reliable builders, tradespeople, and renovating specialists. We will help you build your real estate team, which is crucial to your success.
Contact us today to grow your wealth faster than you ever thought possible.