71 Nellie Street, Nundah - Renovation
Buy - Renovate - Sell - Hold and Rent
Many investors gravitate towards "easy" investments—brand new off-the-plan properties or fully renovated houses that are ready for immediate occupancy. However, often these options come at a premium due to the hard work put in by someone else.
What sets Hot Property Buyers Agency apart, under the expert guidance of Zoran and Maddyson, is their capability not only to assist investors in navigating property purchases but also in orchestrating renovations and refurbishments that significantly enhance investment performance, as exemplified below.
Recently, we secured a property at auction on behalf of our time-poor client, acquiring it for below its online valuation. Immediately upon settlement, we embarked on an extensive refurbishment project that included:
Full internal repaint and partial external repaint
Yard trimming and landscaping
Replacement of window furnishings
Flooring replacement
Tile grout and silicone refresh
Lighting upgrade and air conditioning servicing
Kitchen and laundry replacement
Plumbing works for water efficiency compliance and preventive maintenance
Conversion of the media room into a fourth bedroom
These renovations totaled approximately $64,000, including consultation fees from the Hot Property Buyers Agency team for overseeing the scope of works. The return on investment from these enhancements was remarkable.
Before the renovations, the property fetched a rental income of $500 per week. Post-renovation, this increased to $795 per week—a substantial $295 per week rise. This translates to an impressive 25% increase in rental yield based on the renovation costs alone. Furthermore, the gross rental yield improved from 2.73% at purchase to 4.07% based on the total investment after renovations.
Moreover, there was a notable increase in the property's market value—from an initial investment of $1,015,000 to a current market valuation of approximately $1,150,000. Remarkably, all of this was achieved with less than six weeks of downtime during the renovation process.
This success story underscores the strategic advantage of investing not just in properties, but in the potential of well-planned renovations to maximize returns and property value. Hot Property Buyers Agency's expertise in identifying undervalued properties and executing value-adding renovations proves invaluable for investors looking to optimize their investment portfolios.
Investing in real estate isn't just about buying—it's about transforming potential into profitability through strategic planning and execution. With the right guidance and vision, investors can leverage renovations to significantly enhance property performance and achieve substantial returns on investment.
To chat to the team get in touch today!