They're the King and Queen of Renovation -- in under ten years, Sheree Barber and Steven Tolley are worth millions, each renovation averages them $300-400,000 in profit.
Now Sheree and Steven are sharing their secrets. "You can make phenomenal amounts of money doing renovations. You just need to know the basic fundamentals on what to do when entering into a renovation" said Steven Tolley
Each project takes three to five months to complete -- Steve is the negotiator, Sheree in charge of quality control. "A lot of tradesmen see Sheree being a female on the building site they try and cut corners unfortunately so that they can get out of the job early. But unfortunately Sheree just goes in there and she makes sure that they do it right" said Steve.
"Poor quality is a reflection on me so if I'm not getting the best job for my client or the buyer of our properties then that reflects badly on me so you need to do it right first time" said Sheree.
To save time -- and their relationship -- Steve and Sheree work on different houses at the same time. "If you don't know what you're doing renovation is the quickest way to divorce" said Sheree Barber and Steven Tolley
"Before we even purchase a property we know exactly who's going to buy our property, how much they're going to spend and how we're going to renovate that home before we even purchase property so you basically need to work backwards. That's right" said Sheree Barber and Steven Tolley.
"Like anything renovating is a business and you need to know all the steps in the renovating process. There are actually eight steps in the renovating process that most people probably don't even realise" said Sheree Barber and Steven Tolley.
- Step one is target an area you want to renovate.
- Step number two is research the area.
- Step number three is, research the property.
- Step number four is analyse the realistic potential, the cost of renovation, > who will buy it and for how much, and the profit you will make.
- Step number five is about acquiring a property, this is what you do to buy > the property and how to negotiate on it.
- Step number six is about creating a higher and better use, now if you're > doing structural renovations like we are you need formal council > approval
- Step number seven is the actual renovation process and that's nothing > more about being an effective project manager and step number eight > is about the resale process - selling your property for the maximum > price possible." Reno King Queen continued ….
The key is time management. Sheree and Steve are always watching the clock.
"Well that's the difference with us as professional renovators you see, with builders they normally get one tradesperson in at a time. We actually get all our trades in at the same time within reason. A lot of tradespeople don't like that but for us we know that each of our properties cost us $250 a day. So a two week budget blow out will actually cost us $2,500 dollars and as a professional renovator, you need to know what your costs are."
Author Stuart Zadel has compiled Sheree and Steve's methods of success, along with other cases studies - creating a pocket guide to financial freedom in five years or less. "More millionaires make their fortunes through property than any other means, nothing else compares" said Stuart.
"Anyone can do it. All you need to do is crack the code. Learn the secrets, the step-by-step systems of the masters and apply them", he added.
"If you can't do it just handball it to the professionals”, said interior designer, Shaynna Blaze.
Shaynna agrees that planning is crucial. "I think when you renovate you've got to look to the future see how you're going to look in the next five to ten years and make sure the renovation grows with you'' says Shaynna Blaze Interior Designer.
"I tell you what, we stand out the front on the street when we finish our renovations and we're just in awe of what we've created and that's the best feeling in the world. Absolutely", the couple said.
For further information, visite the website at: www.thinkandgrowrich.com.au
“Think and Grow Rich in Property”, by author Stuart Zadel is available at all good bookstores.