Maximising your renovation with cost-effective WOW, with Todd Sloan – Ep.41

For this weeks’ episode of the property investing journey, Mike is joined once again by Todd Sloan, experienced real estate agent, property renovator and investor, author of Australia’s Home Buying Guide and host of the popular Pizza and Property podcast. Todd first joined Mike on episode 40 of this bonus series where they delved into the tips and tricks of renovating for profit and maximising the return on your investment portfolio.

Todd’s back this week to look at practical examples of how to renovate for maximum profit on a shoestring budget. A big believer is getting design ideas by looking at Instagram or Pinterest, Todd believes that it’s possible to deliver the wow factor cost effectively by being innovative and creative in your approach.

He talks through a practical example of recreating wainscotting without the traditionally big dollars, and provides clear advice on where you can skimp and save money throughout your project, and where you might want to spend a little bit more.

Mike and Todd also consider the differences in renovation plans when it comes to preparing for sale versus a property you plan to hold and rent, and even include an analogy on skateboarding to demonstrate why sometimes it’s good not to compare.

You won’t want to miss this episode full of helpful tips and tricks for your next renovation.

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Mike is joined once again by Todd Sloan, experienced real estate agent, property renovator and investor, author of Australia’s Home Buying Guide and host of the popular Pizza and Property podcast. Todd first joined Mike on episode 40 of this bonus series where they delved into the tips and tricks of renovating for profit and maximising the return on your investment portfolio.

Todd’s back this week to look at practical examples of how to renovate for maximum profit on a shoestring budget. A big believer is getting design ideas by looking at Instagram or Pinterest, Todd believes that it’s possible to deliver the wow factor cost effectively by being innovative and creative in your approach.

• Creating Insta worthy designs cost effectively
• Todd shares his skirting boards hack
• What makes a design look more expensive than it really is?
• Building good relationships with suppliers
• Cost effective wows
• The difference between renovating for renting vs selling
• Disincentives for investors
• Is there a magic formula for a reno budget?
• Todd top tips to be successful in renovating

 

“A lot of the time I truly believe people can’t tell the difference between the $50 item and the $100 item” Todd 2:40

“Don’t be afraid to say ‘hey that’s a great idea Mr and Mrs stylist but unfortunately we don’t have $70,000 for this one’ we’ve only got 40,000 or 10,000 or whatever your budget is. Always continuously work with them, don’t let them walk off and think they’ve just done a wonderful job and you’re thinking ‘I can’t afford anything that they’ve just said’” Todd 7:08

“You also want to be clear as well whether you’re renting it or whether you’re selling it at the end because there are those are two different renovations” Todd 9:33

“The kinds of things that you want to look at the wow is absolutely important but don’t get the wow from something that cost so much money” Todd 14:08

Links mentioned

https://gearedforgrowth.com.au/?s=todd+sloan

https://gearedforgrowth.com.au/podcasts/adding-value-to-a-property-through-renovations-with-todd-sloan-part-1-ep-40/

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