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Foong Koh Buckland joined Michelle and me to talk about her journey from being a pharmacist to renovating for profit. She is super driven, loads of fun and lives in Adelaide. Foong owns a successful business named after her sons, BenJon.
Foong chatted to us about how she came to be a full-time renovator, completely replacing her income as a pharmacist in four years. We talked about how she manages eight, soon to be ten, projects at the same time, the benefits of joint ventures, taking control of your financial future, and profit margins.
Click play to get inspired by Foong Koh Buckland.
EPISODE HIGHLIGHTS:
Connect with The School of Renovating
ASK BERNADETTE
https://www.theschoolofrenovating.com/podcasts-page
Subscribe to She Renovates Apple Podcast
https://apple.co/3faoWlT
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https://www.youtube.com/c/TheSchoolOfRenovating
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This week we have something very special for you. About a year ago I invited Liz Raad to talk about renovating websites. I have been interested in this strategy for quite some time, for a couple of reasons one is because it's about digital, and digital is definitely very current and loaded with opportunities. And the second reason is that it's at such a low price point and as opposed to property.
Whenever I make a decision to learn a new skill, I like to shortcut the learning curve and get some help from someone who has already walked the walk. And so my guest today is the person that I have chosen as my mentor and that's Liz Raad.
Highlights:
[00:00:34] Bernadette's goal number 33: learn to flip websites
[00:02:55] Being a confident woman in a male dominated industry
[00:03:45] From buying and selling real estate properties to buying and renovating websites
[00:05:17] Setting short-term and long-term goals in buying and renovating websites
[00:05:17] How to build a more passive income
[00:06:50] Cashflow strategies and long-term assets strategies
[00:07:29] Helping local businesses with their websites and generate cashflow
[00:09:18] How long does it take to become proficient in buying and renovating websites
[00:10:23] How a student leveraged and accelerated her website renovating journey
[00:11:43] There is a learning journey but once you have it renovating is a skill for life
[00:15:13] Keeping your brain working while generating income
[00:16:04] You need experience and mastery in buying websites and buying property
[00:17:08] Renovating websites from a couple of hundred dollars to multi-million dollars
[00:18:23] How to pick website deals that suit you
[00:19:27] Does the buyer's agent have a role in buying websites?
[00:20:17] Why due diligence is worth millions
[00:22:09] The low buy-in makes renovating websites a much safer process
[00:26:05] Buying a website is like buying a blue-chip suburb
[00:28:48] Our goal in buying and renovating a website is always to double our income
[00:30:04] Is it better to buy websites on topics that you're passionate about?
[00:29:54] The skills that your website renovating team must have
[00:33:44] How renovating websites is similar to renovating properties
Resources:
Special Live Presentation with Liz and Matt Raad (How To Buy & Renovate Websites For Passive Income)
bit.ly/websitereno
eBusiness Institute
https://ebusinessinstitute.com.au/
Matt and Liz Raad Youtube Channel
https://www.youtube.com/user/MattandLizRaad
The School Of Renovating
https://www.theschoolofrenovating.com/
She Renovates podcast
https://www.theschoolofrenovating.com/podcast
She Renovates on iTunes
https://podcasts.apple.com/au/podcast/she-renovates/id1452762885
How to reach Liz Raad?
YouTube: https://www.youtube.com/user/MattandLizRaad
Facebook: https://www.facebook.com/MattandLizRaad
Did this episode inspire you? If you have any thoughts or comments about the show, head over to She Renovates on iTunes and leave us a review. Also, don’t forget to subscribe, tune in, and share this podcast.
Connect with The School of Renovating
Subscribe to She Renovates podcast
https://www.theschoolofrenovating.com/podcast
Follow on Twitter
https://twitter.com/renovatingsc
Follow on Instagram
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Follow on LinkedIn
https://www.linkedin.com/in/bernadette-janson-3411652b
She Renovates Facebook Group
https://www.facebook.com/groups/sherenovates
Your mindset in the business of renovation determines how successful you will be in making a profit. Doing the courses and learning the skills required to get the job done are important, but unless you can translate your knowledge into an action plan, you are not going to change your life.
I spoke to Michelle Lewis, our renovation and mindset coach, about the value of mindset in renovating. She believes strongly in the power of investing in yourself and how it makes it possible to change your mindset. She said:
“We all grow up with certain beliefs as children and in our families. And sometimes those beliefs can be huge blocks to our success and to ourselves… And so I've worked really hard on working through those blocks and having a mindset where I can really achieve anything that I want to.”
Listen to Michelle’s advice about cultivating a mindset for success in the renovation for-profit business.
EPISODE HIGHLIGHTS:
Resources
Knit One Change One
https://koco.global
She Renovates Live Conference 2022
https://www.theschoolofrenovating.com/events
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
Follow on LinkedIn
https://www.linkedin.com/in/bernadette-janson-3411652b
Renovating for profit can be stressful. A lot of things can and do go wrong. Lucy is one of our rising stars whose renovating journey started by accident. She renovated her own home, fell in love with renovating, and sold her home in order to start building up a property portfolio. She said:
“Renovating your own home is an awesome way to start because it's safe and you can take your time with it.”
Lucy is one of our Wonder Women rising stars. From the moment I met her I got the sense that she is destined for greatness in the renovation business. She is the kind of person who decides she wants something and then really goes for it. I invited her to chat to me on a live broadcast of She Renovates about how she started renovating for profit. Listen to her inspiring story.
EPISODE HIGHLIGHTS:
Resources
Class Project (Newcastle)
https://www.theschoolofrenovating.com/class-project
She Renovates Live Conference 2022
https://www.theschoolofrenovating.com/events
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
Follow on LinkedIn
https://www.linkedin.com/in/bernadette-janson-3411652b
Penelope Valentine from Property Alchemy joined me to talk about investing in property. Penelope and her partner, Belinda, are particularly skilled at managing investment properties.
After you purchase an investment property and add value to it through renovation, it is important that it generates wealth over time. Penelope and belinda are both long-term property investors and understand the value of a great property manager.
EPISODE HIGHLIGHTS:
Resources
Penelope’s Website
https://propertyalchemy.com.au
Temple and Webster
https://www.templeandwebster.com.au
Women in Renovating Workshop
www.theschoolofrenovating.com/womeninrenovating
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
Follow on LinkedIn
https://www.linkedin.com/in/bernadette-janson-3411652b
EPISODE HIGHLIGHTS:
Resources
Kmart
https://www.kmart.com.au
Temple and Webster
https://www.templeandwebster.com.au
Women in Renovating Workshop
www.theschoolofrenovating.com/womeninrenovating
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
Follow on LinkedIn
https://www.linkedin.com/in/bernadette-janson-3411652b
A renovation scope of work is an essential tool for restoration project management. If you want to improve your home, here are some techniques and concrete ideas to give you an edge.
EPISODE HIGHLIGHTS:
[1:34] New feature release: What’s Your Reno Question?
[3:30] What is the renovation scope of work?
[4:25] Importance of the scope work checklist
[6:09] Three main sections to the renovation scope of work
[6:42] Outlining the renovation project
[7:49] Talking about the communication details
[8:40] Timeframe of the renovation project
[9:15] Setting the standard of renovation work on your project
[9:53] Documentation you need for the project
[10:29] How to deal with waste
[11:40] Work details that trades need to cover
[15:20] The Newcastle Class project update
She Renovates Facebook Group
If you’re sitting there thinking I wonder and have a question to ask head over to our free She Renovates Facebook Group. You will find over a thousand crazy renovators who just love talking, renovating and would love to answer your question.
Do you manage your own projects or do you prefer to work with a project manager? The role of a project manager in a renovation is often poorly understood.
I was talking to Ruth Newman during the class project about the fact that many of her clients choose to project manage their own renovations. It is an area in which our businesses overlap, so I thought it would be a great opportunity to talk to Ruth about what renovating project management involves.
Ruth has a business called Ruth Newman Architects, asked in Sydney. They offer an architectural concierge service so that you don’t have to worry about the often forgotten or complicated aspect of a renovation project.
We talked about what project management on a renovation entails, the benefits of hiring project manager, the pitfalls of not hiring a project manager and the skills you need if you would like to manage your own project.
Click play to hear the advice Ruth shared with me a project management.
EPISODE HIGHLIGHTS:
Resources
Ruth Newman Website
https://ruthnewman.com.au/
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
Follow on LinkedIn
https://www.linkedin.com/in/bernadette-janson-3411652b
We put out the call to see who would be interested in contributing and getting involved in a renovation that we paid for in cash. Out of twenty applicants we ended up with a team of fourteen wonderful, dedicated team members who all pulled their weight.
It was a project full of challenges - some due to the pandemic but others were simply examples of the things that can, and do, go wrong during a renovation project.
Three of our team members joined me to look back over the project to discuss the highs and lows, and everything they learnt working as part of a big team. Listen to my chat with James Burgin, Christine Boundy and Sheree Lamb.
EPISODE HIGHLIGHTS:
Resources
Ikea
https://www.ikea.com/au/en
Bunnings
https://www.bunnings.com.au
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
Follow on LinkedIn
https://www.linkedin.com/in/bernadette-janson-3411652b
Jo shared some interesting insights with me about the past and the future of the property market in Australia. She talked about the changes we’ve seen in selling and buying properties during COVID and what she predicts for 2022. She shares some valuable information for those who are looking to invest in property this year.
EPISODE HIGHLIGHTS:
Resources
LJ Hooker
https://www.ljhooker.com.au
Bill Shepherd
http://www.billshepherd.com.au
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 Channel
https://www.youtube.com/c/TheSchoolOfRenovating
Follow on Twitter
https://twitter.com/renovatingsc
Follow on Instagram
https://www.instagram.com/the_school_of_renovating
Follow on LinkedIn
https://www.linkedin.com/in/bernadette-janson-3411652b
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