Everyone has renovation skills, they just don’t know it, with Belinda Smith – Ep. 57

For the latest episode of this bonus series of the property investing journey, Mike is joined by Belinda Smith, Renovation Consultant, Business Coach and Educator, to talk about the everyday skills that people have, but may not recognise, that can contribute to their renovation journey.

Belinda has loved property all of her life. In 2012 she founded RARE – Renovate and Real Estate Consultancy Collective, to help clients realise their investment potential and guide them through the various phases of their renovations, including feasibility, design, approvals, budgeting and execution.

Belinda firmly believes that everyone has skills they can apply to a renovation project, and in this conversation she explains to Mike just how applicable these skills are. From the decision making and budgeting ability of running a household, to the time management and planning skills required in holding down a full-time job, Belinda illustrates how transferable this knowledge is, and encourages the listener to have an open mind when considering whether renovation is for them.

This highly practical discussion covers the profitability of renovating in a declining market, how your strategy needs to adjust when the market slows down, as well as the apparent obstacles of capital gains tax and stamp duty and how to deal with them.

If you’ve ever considered renovating but are concerned you don’t have the right skills, or even if you’re just looking for extra advice, you can’t go past this invaluable information from the highly successful Belinda Smith.

Here at MCG, we are passionate about creating a forum and education series for property owners and investors. We do depreciation differently, and offer a set rate for Replacement Cost Estimate reports. A first in the industry. Join our clients saving more on their tax today https://www.mcgqs.com.au/

Mike is joined by Belinda Smith, Renovation Consultant, Business Coach and Educator, to talk about the everyday skills that people have, but may not recognise, that can contribute to their renovation journey. Belinda firmly believes that everyone has skills they can apply to a renovation project, and in this conversation she explains to Mike just how applicable these skills are.

• Can you be a successful renovator and outsource the hard yakka?
• The skills you can apply to renovating that you may not have thought of
• Pooling your resources as a joint venture
• How to find good tradies
• Making money in a declining market
• The key components to renovating in the current market
• Dealing with capital gains tax and stamp duty
• Having an open mind to the possibilities of home renovation

“They tend to assume that renovating is exhausting and they tend to assume that they’re going to have to be on the tools themselves to get through a project and I’m here to dispel that rumour” Belinda 0:47

“Renovation itself is just a whole series of finding solutions to the issues you encounter along the way and a whole bunch of communicating with other people like tradies and getting other people to do those tasks for you” Belinda 3:49

“There are many many components but there all learnable and you just need to tackle them one by one the same as we tackle everything in our lives” Belinda 5:17

“We do these beautiful things called feasibility studies before we purchase property and all of our costs have to go into that feaso. If it’s not a goer it’s not a goer” Belinda 17:05

Links mentioned

https://www.linkedin.com/in/belindasmithrenovations/

Are you a fan of The Geared for Growth podcast? If the ideas and tips we share in each episode are inspiring you to become a more knowledgeable property investor, subscribe to the show and leave your honest review to let us know!