Flip­pin’ mir­a­cle: Tal­ented trio works magic to achieve top price

Tas­ma­nian ren­o­va­tors can learn a trick or two from three Aussie women who have swapped the board­room for the build­ing site to pur­sue their pas­sion for flip­ping prop­er­ties and build a life they love, writes JAR­RAD BEVAN

Sunday Tasmanian - Tassie Living - - NEWS -

Leav­ing be­hind cor­po­rate ca­reers to em­bark on a new ad­ven­ture – with­out even a ham­mer on their tool belts – these three women are show­ing Aus­tralians how to flip houses for a profit.

Lana Tay­lor, Erin Cay­less and Bon­nie Hind­marsh came to­gether two years ago to start Three Birds Ren­o­va­tions, ren­o­vat­ing homes for a profit.

They are now on to their fifth ren­o­va­tion.

For those in­tend­ing to fol­low in their foot­steps, they stress the im­por­tance of plan­ning and re­search be­fore pur­chas­ing a prop­erty.

“One of the hard­est parts of this whole busi­ness is buy­ing at the right price, un­der­stand­ing a sale price and sell­ing,” Erin said.

“We need to un­der­stand the lo­ca­tion and size of the prop­erty so we can go into the project with re­ally clear ex­pec­ta­tions of our­selves and of what we’re go­ing to sell for.”

When it comes to bud­get­ing, they sug­gest set­ting aside a con­tin­gency amount so that un­wel­come sur­prises won’t break the bank.

They also fol­low self-set guide­lines when choos­ing a prop­erty, judg­ing them on how much value can be added.

“We wouldn’t con­sider any­thing where we couldn’t con­nect the back­yard to an en­ter­tain­ment space or liv­ing area,” Bon­nie said.

They steer clear of houses near train tracks or on main streets, and won’t con­sider prop­er­ties re­quir­ing a de­vel­op­ment ap­pli­ca­tion be­cause the busi­ness aims to have homes trans­formed within a short pe­riod of time.

When Erin, Bon­nie and Lana launched Three Birds Ren­o­va­tions they had lit­tle ex­pe­ri­ence flip­ping a home.

“We’ve all been friends for a very long time and we were look­ing for new chal­lenges in our lives,” Lana said.

“Bon­nie ini­ti­ated the idea of ren­o­vat­ing houses to­gether and felt it needed Erin, my­self and her to make it work be­cause we all have dif­fer­ent skills.”

While these ladies are based in Syd­ney, Tas­ma­nian ren­o­va­tors can learn a trick or two from them on realestate.com.au where the trio has teamed with the web­site to cre­ate a six-part video se­ries on the makeover of a three-bed­room cot­tage.

The se­ries is live now and ex­plores top­ics in­clud­ing how to plan and bud­get for a ren­o­va­tion, how to go about hir­ing the right tradies, and how to as­sess if a prop­erty is the right pick for a ren­o­va­tion.

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