• Cherie Barber
• April 18, 2016
• 3 Comments

A Seaside Renovation On A Budget

Mel and AJ are first time flippers doing their first renovation. They have grand plans to throw in their full-time jobs in order to spend more time with their son and enjoy life a bit more.

They have bought a 3 bedroom un-renovated house in a seaside location but don’t have the full budget of what you should spend on a cosmetic reno. Can they do everything they need to, to get the place looking great and also make a great profit at the same time?  RFP guru, Cherie Barber is bought in to help this young couple make it happen.

 

STRATEGY:

The reno strategy was a complete, whole house make-over, internally and externally to increase the property value in order to create equity for the homeowners to buy their next property. The works included:

Internal Improvements:

• Removal of wall paper
• Complete painting throughout
• New kitchen installation
• Cosmetic refurbishment of existing bathroom
• Upgrade all electrical fixtures and fittings including switchboard upgrade
• Remove structural walls to create open plan living / dining / kitchen area
• Removal of carpet
• Floor sanding and polishing of all floors
• Remove old window coverings and install new slimline venetian blinds
• Other miscellaneous improvements internally i.e. replace door handles, door knobs etc.

 

 

 

External Improvements:

• Acrylic render whole house
• External painting done D.I.Y
• Installation of new front fence, side fence and gate
• Remove excess landscaping and install new landscaping elements
• High pressure clean all driveways and pathways
• Other minor external improvements

 

Property Purchase Price: $450,000

Property Value (Before Reno): $450,000

Total Reno Spend: $34,375

Time frame: 13 Days

Property Breakeven Point: $484,375

Property Sold (Immediately After Reno): $565,000

Gross Profit Margin: $80,625

 

COLOURS:

EXTERNAL:

WALL RENDER & PAINT:

Base Coat: Acrylic Render

Brand: Dulux Texture

Colour: Taubmans “Sealord” (Paint In Render)

EXTERIOR TRIMS (GUTTERS, FASCIA, ETC):

Taubmans Endure

Colour: Taubmans White

PAVING PAINT:

Taubmans Paving Paint

Tinted to Taubmans “Black Forest”

 

 

 

INTERNAL: 

INTERIOR WALL PAINT:

Taubmans Endure Interior

Colour: Secret Passage