Purchasers asking questions of Dean Parker
01 – Would you recommend living in a renovation to save on capital gains tax and avoid paying rent and a mortgage?
Rent, capital gains tax, live in while renovate, room at a time, task at a time, Handyman magazine, principal place of residence, dust, mess, time
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02 – What sources do you use to gain information about an area so you know it is ripe for investing? “Finding A Area checklist”
RP Data, finding an area, real estate web sites, suburb searches, understanding the basics, comparable sales, property prices, travel distance, project manage, price range, realestate.com.au, rpdata.com.au
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03 – Do you study the property markets and property cycles?
Property cycles, property markets, Steve McKnight, renovations, quick turn around, first home owners grant, entry level, 12% movement, market increase, market decrease, market segments, valuations
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04 – The need and benefits of an ‘End Valuation’
Valuations, due diligence, full renovation costing, renovation costing tool, vlauer, end selling price, comparable sales, financer, fear
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05 – The importance of creating a winning team
Valuer, banker, financer, brokers, relationships, answers, trades, communication, profit, risk, team, renovation process, flow
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06 – Do we have a business plan and how do we review our goals?
Business plan, goals, review, strategies, strategy, profit, lifestyle
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07 – For a first renovation project, what advice would you give on setting profit expectations?
Project manage, DIY, current income, expectations, Steve McKnight, sacrifice, profit, time, cosmetic or advanced renovation, joint venture partners, JV, systems, cash available, current earnings
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08 – I want to make a profit of $100,000, what renovation project and numbers do I need to look at?
Profit, quick cash analysis, quick profit analysis, The Complete Renovation Systems, goals, formulas, price bracket, 12%, 15%, percentages, target market
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09 – What are the features and services within an area that you look for when starting out?
Research, areas, features, services, location, universities, hospitals, shopping centers, long term growth, proximity, freeway access, price variance, price brackets, profit, Price Range Analysis, Area Due Diligence checklist, perceive value, adding value
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10 – How important is having access to RP Data?
Real estate agents, valuers, RP Data, end selling price, confidence, relationships, comparable sales
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11 – How do you find reliable trades people?
Trades, reliable, communication, finding trades, Contractor Task List, The Complete Renovation System, relationship, task list, business size
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