{"id":6950,"date":"2016-07-29T01:39:41","date_gmt":"2016-07-29T01:39:41","guid":{"rendered":"http:\/\/yourpropertysuccess.com.au\/l\/?p=6950"},"modified":"2017-05-05T06:22:26","modified_gmt":"2017-05-05T06:22:26","slug":"ep-04-real-life-renovation-profit","status":"publish","type":"post","link":"http:\/\/yourpropertysuccess.com.au\/l\/ep-04-real-life-renovation-profit\/","title":{"rendered":"Ep 04: Real Life Renovation for Profit"},"content":{"rendered":"<div class=\"powerpress_player\" id=\"powerpress_player_5224\"><!--[if lt IE 9]><script>document.createElement('audio');<\/script><![endif]-->\n<audio class=\"wp-audio-shortcode\" id=\"audio-6950-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"http:\/\/traffic.libsyn.com\/yourpropertysuccess\/Ep4_Russell_Master.mp3?_=1\" \/><a href=\"http:\/\/traffic.libsyn.com\/yourpropertysuccess\/Ep4_Russell_Master.mp3\">http:\/\/traffic.libsyn.com\/yourpropertysuccess\/Ep4_Russell_Master.mp3<\/a><\/audio><\/div><p class=\"powerpress_links powerpress_links_mp3\" style=\"margin-bottom: 1px !important;\">Podcast: <a href=\"http:\/\/traffic.libsyn.com\/yourpropertysuccess\/Ep4_Russell_Master.mp3\" class=\"powerpress_link_pinw\" target=\"_blank\" title=\"Play in new window\" onclick=\"return powerpress_pinw('http:\/\/yourpropertysuccess.com.au\/l\/?powerpress_pinw=6950-podcast');\" rel=\"nofollow\">Play in new window<\/a> | <a href=\"http:\/\/traffic.libsyn.com\/yourpropertysuccess\/Ep4_Russell_Master.mp3\" class=\"powerpress_link_d\" title=\"Download\" rel=\"nofollow\" download=\"Ep4_Russell_Master.mp3\">Download<\/a><\/p><div id=\"gray-border\">\n<p><span style=\"font-weight: 400;\">$25,000 profit from a 16 day renovation! \u201c<\/span><i><span style=\"font-weight: 400;\">We are on fire!!!<\/span><\/i><span style=\"font-weight: 400;\">\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For Russell and Heather from Victoria, the jump into becoming successful property investors took some time, over 25 years in fact&#8230; In today&#8217;s episode we explore their breakthrough strategic renovation in Melbourne and hear valuable tips for investing faster using renovation&#8230;<\/span><\/p>\n<\/div>\n<p><strong>SHOW NOTES<\/strong><\/p>\n<p>1:40 Meet our episode guest, Russell<br \/>\n2:35 A practical application of the Trident strategy<br \/>\n3:18 How a change in mindset played a crucial role in taking action<br \/>\n4:35 On location: Russell on choosing the suburb and property<br \/>\n4:50 The Dot Map and the other criteria Russell used in choosing a property<br \/>\n5:50 Russell\u2019s first impression on the property and how he underwent an attitude re-adjustment.<br \/>\n7:30 The ups and downs of the offer process<br \/>\n9:06 How the local industry in an area affected the value of a property<br \/>\n11:00 The property inspection and work that needed to be done<br \/>\n13:00 DIY to save costs and knowing when it is time to hire for help<br \/>\n16:30 Walkthrough inside of the house and description of work carried out<br \/>\n17:11 How to use a false ceiling to cover cracks<br \/>\n18:40 Restumping a floor that was damaged by a water leak<br \/>\n21:21 How to deal with lath and plaster<br \/>\n24:15 Renovation decisions on a dated bathroom<br \/>\n29:11 Russell shares how they finally got their first investment property and what prevented them from doing it sooner<br \/>\n29:50 The fears and the worries that prevented Russell from taking action<br \/>\n30:25 The tipping point<br \/>\n30:55 How educating yourself first plays a crucial role in your property investment journey<br \/>\n33:00 The figures!<br \/>\n36:00 How low vacancy rates help in acquiring tenants faster<br \/>\n36:55 Ray\u2019s advice for someone starting out today<br \/>\n37:30 Jane and John recap<\/p>\n<blockquote><p>&#8220;<span style=\"font-weight: 400;\">We look, never commit. We were just too scared to do it<\/span>.&#8221; \u2013\u00a0Russel Berndt<\/p><\/blockquote>\n<blockquote><p>&#8220;<span style=\"font-weight: 400;\">Enough is enough. We\u2019re going to change and we\u2019re doing it now<\/span>.&#8221; \u2013 Russel Berndt<\/p><\/blockquote>\n<blockquote><p>&#8220;<span style=\"font-weight: 400;\">I don\u2019t know what I was scared of before, but now we\u2019re ready to get a go on it again. We\u2019re on fire!<\/span>&#8221; &#8211; Russel Berndt<\/p><\/blockquote>\n<p><b>RESOURCES AND LINKS<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.apimagazine.com.au\/2016\/03\/renovation-riches-russel-and-heather-berndt\/\" target=\"_blank\"><span style=\"font-weight: 400;\">Russell and Heather renovation feature in API magazine<\/span><\/a><\/li>\n<li><span style=\"font-weight: 400;\">Description of <a href=\"https:\/\/en.wikipedia.org\/wiki\/Lath_and_plaster\" target=\"_blank\">Lath and Plaster<\/a> on Wikipedia<\/span><\/li>\n<\/ul>\n<p><b>ALSO MENTIONED<\/b><\/p>\n<ul>\n<li><a href=\"https:\/\/s3.amazonaws.com\/YPS\/01+Podcast\/04+Episode+4\/API+AUG+16+article.pdf\" target=\"_blank\">Jane\u2019s renovation case study<\/a> in Australian Property Investor Magazine (August 2016)<\/li>\n<\/ul>\n<p><strong>TWEETABLES<\/strong><\/p>\n<p>[bctt tweet=&#8221;$25k profit from 16 day renovation! \u201cWe are on fire!!!\u201d says Russell&#8221;]<br \/>\n[bctt tweet=&#8221;<em>A lovely story of an ordinary couple on their first property investment&#8230;<\/em>&#8220;]<\/p>\n<p><a href=\"https:\/\/s3.amazonaws.com\/YPS\/01+Podcast\/04+Episode+4\/Episode+04+-+Real+Life+Renovation+for+Profit.pdf\" target=\"_blank\"><strong>DOWNLOAD TRANSCRIPT<\/strong><\/a><\/p>\n<p><img decoding=\"async\" class=\"ngg_displayed_gallery mceItem\" src=\"http:\/\/yourpropertysuccess.com.au\/podcast\/nextgen-attach_to_post\/preview\/id--643\" data-mce-placeholder=\"1\" \/><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>$25,000 profit from a 16 day renovation! \u201cWe are on fire!!!\u201d For Russell and Heather from Victoria, the jump into becoming successful property investors took some time, over 25 years in fact&#8230; In today&#8217;s episode we explore their breakthrough strategic renovation in Melbourne and hear valuable tips for investing faster using renovation&#8230; SHOW NOTES 1:40 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised"],"_links":{"self":[{"href":"http:\/\/yourpropertysuccess.com.au\/l\/wp-json\/wp\/v2\/posts\/6950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/yourpropertysuccess.com.au\/l\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/yourpropertysuccess.com.au\/l\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/yourpropertysuccess.com.au\/l\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/yourpropertysuccess.com.au\/l\/wp-json\/wp\/v2\/comments?post=6950"}],"version-history":[{"count":3,"href":"http:\/\/yourpropertysuccess.com.au\/l\/wp-json\/wp\/v2\/posts\/6950\/revisions"}],"predecessor-version":[{"id":7038,"href":"http:\/\/yourpropertysuccess.com.au\/l\/wp-json\/wp\/v2\/posts\/6950\/revisions\/7038"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/yourpropertysuccess.com.au\/l\/wp-json\/wp\/v2\/media\/6951"}],"wp:attachment":[{"href":"http:\/\/yourpropertysuccess.com.au\/l\/wp-json\/wp\/v2\/media?parent=6950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/yourpropertysuccess.com.au\/l\/wp-json\/wp\/v2\/categories?post=6950"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/yourpropertysuccess.com.au\/l\/wp-json\/wp\/v2\/tags?post=6950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}