Naomi Findlay talks about the importance of strategic property renovation for wealth.
Hi guys! Naomi Findlay here, Australia’s Rapid Renovation Expert.
Today, I want to talk to you about the importance of strategy. Many of you have heard about the importance of having a honed area or a patch to focus your property search on.
I’m a big believer in life that things not only need to work financially but I need to work from a lifestyle perspective. Because if things are hard, if things aren’t fun, generally we worked too well at it, and we also will find too hard to continue. Don’t get me wrong. I don’t think everything should be super easy or is super easy. To have longevity in a renovating for wealth business, it needs to fit in and suit your lifestyle or the lifestyle that you actually want to create.
So, after you honed your budget, it’s so important that you fit it in with your strategy or your habit strategy. Now, there are a pile of things that go and weave into what makes up your strategy in a certain patch. And one of them that I’ll talk to you about today is your own variables. That’s right.
So, you are accountable in regard to the strategy that you’re going to be taking when you’re renovating. Now, there are a quite few things involved in this strategy, actually, many things. I want to talk to you about four. The four top things today.
THE FOUR STRATEGIES
First is your knowledge. Do you have the knowledge or do you know where to get the knowledge or do you know where to study to be able to complete renovations for profit and create wealth? Is this limited to cosmetic renovations or do you have the knowledge to maybe complete some larger scale renovations?
Second is your financial position. Check out your financial position. Do you have money partners you could work with? Are you able to leverage against existing assets? What is your financial position before you get started?
Third is time. Some people might go, “Oh, I just don’t have the time.” I want you to think here, how could you create the time? How could you leverage the time? How could you use someone else’s time in your strategy?
Fourth is your availability. Do you want to renovate full time or do you want to renovate in a hands off capacity part time or hands on capacity part time to bring in extra income?
So, guys, these are four of the many things. Your knowledge, your financial position, your time and your availability. Four of the things that just build up your variables in regard to what your strategy is. Remember, you need to think about what will suit your lifestyle or what you want your lifestyle to be like and create it.