She Renovates Bernadette Janson

In this episode of the She Renovates podcast, we delve into the world of joint ventures in property renovation.



Joint ventures can be a powerful solution when renovators face obstacles that prevent them from moving forward or when they want to leverage their skills and experience to shape their financial future. However, successful joint ventures require careful consideration and planning. Choosing the right partner, establishing clear roles, and setting up a solid legal structure are crucial.



We also discuss the importance of emotional intelligence, keeping the number of participants to a minimum, and addressing potential conflicts with open communication.



By approaching joint ventures with gratitude and an open heart, renovators can enjoy both financial success and an enjoyable experience.



Tune in to learn more about the ins and outs of successful joint ventures in property renovation.



“I personally feel that going into a joint venture is a little bit like getting married. So, Basically what happens in the early stages, you really don't fully know what the other person is like, you have that. Euphoric honeymoon period, really excited about being in a project together. But then as time goes on, there are things about how the other person operates that really annoy you.



And That's just really part of the process and that's why the preparation is essential and choosing the right partner is really essential too.”



- Bernadette Janson











EPISODE HIGHLIGHTS:





00:00 Introduction

02:13 Empowerment and financial freedom through joint ventures.

04:26 Joint ventures as a complex relationship akin to marriage.

05:23 Factors to consider when selecting a joint venture partner.

06:20 Lead person in joint ventures and decision-making authority.

08:14 Keeping the number of joint venture members to a minimum.

10:08 Importance of designated roles in joint ventures.

11:05 Detailing project expenses and responsibilities in agreements.

15:12 Avoiding legal paths in resolving conflicts within joint ventures.







Resources







The Ultimate Guide To A Successful Joint Venture Renovation : A Case Study

https://www.theschoolofrenovating.com/the-ultimate-guide-to-a-successful-joint-venture-renovation-a-case-study/



An Easy Way To Set Up Joint Ventures

https://sherenovates.com.au/75-an-easy-way-to-set-up-joint-ventures/



The School Of Renovating

https://www.theschoolofrenovating.com



She Renovates Podcast

https://www.theschoolofrenovating.com/podcasts-page/









Connect with The School of Renovating



ASK BERNADETTE

https://www.theschoolofrenovating.com/podcasts-page



Subscribe to She Renovates Apple Podcast

https://apple.co/3faoWlT



Subscribe to Youtube:

https://www.youtube.com/c/TheSchoolOfRenovating



Follow on Twitter

https://twitter.com/renovatingsc



Follow  on Instagram

https://www.instagram.com/the_school_of_renovating

In this episode of She Renovates, Bernadette Janson  interviews Tyrone Hyde, an expert in property depreciation. They discuss the changes in tax laws regarding depreciation and how it affects property investors. Tyrone explains the limitations on claiming depreciation for secondhand items and the advantages for those who buy brand new properties. They also touch on exceptions to the rule and the importance of inspections for maximising depreciation claims.





Whether you're a renovator or a property investor, this episode provides valuable insights into the world of property depreciation and how recent tax law changes have affected the industry. Tune in to learn more about depreciation basics, exemptions, and the importance of understanding these concepts for your property ventures.



“If you buy a property brand new and you sell it to me one day later, you could claim the depreciation, but the moment I buy it one day old, I can't claim the depreciation of the plant equipment items anymore, which is ridiculous because the tax law says that those items are going to last for 10 years.This, has not happened in any other industry. You can claim a two year old computer for your business. You can claim a five year old car if you're a tradie but for property investors, we got the short straw. And the most bizarre thing is with commercial property, the laws never changed.” 



- Tyrone Hyde









EPISODE HIGHLIGHTS: 





00:00 - Introduction

00:50 - Background of the guest, Tyrone Hyde

02:50 The ins and outs of depreciation

04:30 Different rules for commercial property and residential property

08:00 Depreciation of new plant equipment installed by renovators

13:00 Importance of keeping receipts and documentation

14:00 Discussion on substantial renovation and guidelines

18:00 Differentiating between repair and capital improvements in renovation projects

19:50 Conversation on living in Bali and the Green School experience

21:40 Launch date for "10 with Ty" podcast (1st of July)





Resources





Washington Brown Website

www.washingtonbrown.com.au



The School Of Renovating

https://www.theschoolofrenovating.com



She Renovates Podcast

https://www.theschoolofrenovating.com/podcasts-page/





Connect with The School of Renovating



ASK BERNADETTE 

https://www.theschoolofrenovating.com/podcasts-page



Subscribe to She Renovates Apple Podcast

https://apple.co/3faoWlT



Subscribe to Youtube:

https://www.youtube.com/c/TheSchoolOfRenovating



Follow on Twitter

https://twitter.com/renovatingsc



Follow  on Instagram

https://www.instagram.com/the_school_of_renovating

This episode provides invaluable insights for young individuals or anyone looking to invest in an apartment. With the rising cost of freestanding houses, owning an apartment can offer greater control and autonomy over your living situation. Bernadette shares 10 essential factors to consider when purchasing an apartment, regardless of its size.



She advises favoring older buildings that have stood the test of time, as some newer constructions have shown major defects. Smaller buildings, preferably under three stories, offer a more intimate community feel and are less prone to construction issues. Avoid buying off the plan, as it often results in delayed appreciation and inflated prices.



Bernadette recommends stretching for a two-bedroom apartment for added versatility and potential income generation. A dedicated parking space is also advantageous in areas where parking is scarce. Outdoor areas and a desirable orientation (preferably north-facing) contribute to the property's value and appeal.



She emphasizes the importance of subscribing to a data service, such as RP Data, to make informed purchase decisions based on market information. Negotiating cheeky offers and thoroughly examining exclusive use spaces are also wise strategies. Additionally, conducting a thorough strata report and assessing levies, plumbing, lift condition, and fire safety are crucial steps to ensure a sound investment.



Whether you're a young buyer or simply considering apartment living, this episode equips you with the knowledge to make a well-informed decision and secure a valuable property.



Tune in and gain insights from Bernadette's experience in the field of property renovation and investment.



“Buying a freestanding house or even a house or a semi, would be preferable, but not everyone has the budget for that. And so the way I look at this is a young person in particular, paying rent for years and years and years. If they can manage to get over the hump of pulling together deposit and actually buying a property, I definitely feel that it is a good move.” - Bernadette Janson







EPISODE HIGHLIGHTS:


00:00 - Introduction
00:50 - The importance of buying a property for young people
02:40 - Addressing the misconception about apartments not being a good investment
4:30 - Potential risks and challenges with owning property
6:36 - Buying off the plan may result in overpaying for the property
8:40 - Owning a carpark in inner suburbs adds value and desirability
10:12 - Orientation preference: North, East, West, and South
13:10 - Importance of getting a strata report to identify building issues
16:40 - Considering plumbing, lifts, and fire safety in due diligence
19:17 - Talking to neighbors to gather information about the building and community





Resources

The School Of Renovating
https://www.theschoolofrenovating.com

She Renovates Podcast
https://www.theschoolofrenovating.com/podcasts-page/





Connect with The School of Renovating

ASK BERNADETTE

https://www.theschoolofrenovating.com/podcasts-page

Subscribe to She Renovates Apple Podcast

https://apple.co/3faoWlT

Subscribe to Youtube:

https://www.youtube.com/c/TheSchoolOfRenovating

Follow on Twitter

https://twitter.com/renovatingsc

Follow  on Instagram

https://www.instagram.com/the_school_of_renovating

“So, if you are going for a loan at the moment, or if you anticipate in the next month or so, go this fortnight before that raise because you'll actually be assessed at a lower rate. So you need to understand that if you want to borrow money and you think you're a bit too close, get in sooner rather than later.” - Louise Lucas





EPISODE HIGHLIGHTS: 

00:39 Meet Louise Lucas

02:23 Supporting Wonder Woman financing

03:33 The complexity of current lending rules

04:00 Know which lenders are assessing rental income at higher percentages

06:32 Louise's knowledge and contacts in the banking industry

07:00 Recent interest rate rise and Louise's Insights

09:15 Advice for those seeking loans

11:00 Using rental statements to help get loans for renovation projects

12:55 Discussion of the buffer and its impact on mortgage payments

16:51 Borrowing with friends or family members 

18:45 Structuring investment partnership

20:37 The reverse mortgage strategy for renovating retirement

25:23 Having a buffer account for emergencies

27:00 Strategies to deal with negatively geared properties





Resources



Louise Lucas - Website

https://propertyed.com.au



The School Of Renovating

https://www.theschoolofrenovating.com



She Renovates Podcast

https://www.theschoolofrenovating.com/podcasts-page/





Connect with The School of Renovating



ASK BERNADETTE 

https://www.theschoolofrenovating.com/podcasts-page



Subscribe to She Renovates Apple Podcast

https://apple.co/3faoWlT



Subscribe to Youtube:

https://www.youtube.com/c/TheSchoolOfRenovating



Follow on Twitter

https://twitter.com/renovatingsc



Follow  on Instagram

https://www.instagram.com/the_school_of_renovating

“We love property and we love making things beautiful and creating beautiful spaces for family and friends, but also us.

It's really important that we connect with nature and we paint with no toxic paints and we everything's done in a really natural way.”



-Amali de Vos



EPISODE HIGHLIGHTS:


00:00 Intro
02:10 Amali and her husband Richard decided to start renovating for retirement
04:20 Amali's second property, and cottage on a 700-square-meter block of land in Berkeley Vale.
05:00 The importance of analyzing the numbers before purchasing.
08:40: Amali's manifestation process
14:20: The importance of connecting with nature and using non-toxic paints in the renovation process.
15:10 - Planning the budget for the Granny Flat project
21:20 Future Renovation Plans
23:10 Comparison of Downsizing Options
25:40 Amali's financial concerns and finding a solution.
27:20 Amali shares her manifestation magic with other renovators at a retreat.





Resources

Airbnb
https://www.airbnb.com/



The School Of Renovating
https://www.theschoolofrenovating.com/







Connect with The School of Renovating



ASK BERNADETTE

https://www.theschoolofrenovating.com/podcasts-page



Subscribe to She Renovates Apple Podcast

https://apple.co/3faoWlT



Subscribe to Youtube:

https://www.youtube.com/c/TheSchoolOfRenovating



Follow on Twitter

https://twitter.com/renovatingsc



Follow  on Instagram

https://www.instagram.com/the_school_of_renovating

In this episode of She Renovates, Bernadette Janson shares her insights on working with millennials to renovate properties. Join her as she discusses the benefits of collaborating with younger family members to accomplish a shared goal. By sharing her personal experiences working with her children, Bernadette highlights the value of finding each person's strengths, skills, and preferences to make a project successful.



Discover how each renovation project brought unique challenges and how each child brought their own unique perspective to the process.



Listen as Bernadette discusses the benefits of intergenerational projects and the potential outcomes that can come from them.





EPISODE HIGHLIGHTS:

00:00 Intro

04:41 Importance of building relationships during renovation projects

05:56 Stephen's retirement and decreased borrowing capacity

08:30 Consider the amount of work before starting a project

09:37 Importance of proper insulation installation

11:23 Our approach to this project involves both DIY and trades

13:14 Importance of budgeting for Trades

16:26 Meeting a Lady on TikTok

17:40 Upcoming Webinar: Renovate Your Retirement





Resources

Renovate Your Retirement Workshop

https://members.theschoolofrenovating.com/renovate-you-retirement-workshop-may-2023



The School Of Renovating
https://www.theschoolofrenovating.com/



The Avocado Smash Strategy
https://www.theschoolofrenovating.com/podcasts/60-avocado-smash-strategy-bondi-project/





Connect with The School of Renovating



ASK BERNADETTE

https://www.theschoolofrenovating.com/podcasts-page



Subscribe to She Renovates Apple Podcast

https://apple.co/3faoWlT



Subscribe to Youtube:

https://www.youtube.com/c/TheSchoolOfRenovating



Follow on Twitter

https://twitter.com/renovatingsc



Follow  on Instagram

https://www.instagram.com/the_school_of_renovating