Renovating for Profit

Here is a snapshot of Patrick’s new book which has just been released – The Insider’s Guide to Renovating for Profit. To order a copy click here.

Patrick’s 7-step plan for renovating for profit

The secret to success in anything you do is having a good plan, conducting your research and working smartly. To get you started I want to introduce my proven 7-step plan that I use to renovate properties for profit, for myself and my clients:

Step 1: Understand the renovation profit formula – once you understand the theory you'll see where the profits lie.

Step 2: Work out how much you can afford – you need enough in the kitty to cover the three major costs of renovating.

Step 3: Target the right property type – match your risk profile to the right type of property.

Step 4: Market research and preparation – it all comes down to the all-important research.

Step 5: Select the right property to buy – how to spot a property with the maximum profit potential.

Step 6: Pay the right price – how to work out the maximum you can afford to pay and still make a healthy profit.

Step 7: Get the work done on time and budget – avoid profit-shrinking cost overruns and delays.