Ours was not the first program Nicole did. It is important that you find the course that works for you. One size doesn’t fit all. The first course Nicole did was Sheree Barber’s course. It was this platform that showed Nicole that renovating for profit was possible and doable. She and Jay were not in the position to start renovating yet, but Nicole was hungry for knowledge. She wanted to know what other people were doing. Nicole went on to complete another handful of courses before coming to The School of Renovating. She says that she really enjoyed the community and how we nurture each other in our program. 

Nicole And Jay’s First Team Renovation Project

Nicole was, and still is, working for Jay’s business in an administrative capacity when they finally decided it was time to jump into renovating. Covid made it difficult for Nicole to continue with her freelance makeup artist business. So, Nicole and Jay sat down and evaluated their options.

They had an investment property in Wollongong that had shown good capital growth. In August, they decided to take the leap and sold the property. When they were closing the deal on their property with the Real Estate Agent, they asked if they had any other properties for them.

It turns out the agent had a very interesting property for them. It was a little house in a lifestyle village. It was a small entry point, since for that kind of property you are just buying the house. You lease the land it is on. 

They spent just $250,000. There were no stamp duties. All they had to do was renovate the house and resell it. 

Overcoming Renovation Challenges

Every renovating project comes with its own set of challenges. For Jay and Nicole their first stumbling block was the two week shutdown of trades due to Covid as soon as they had concluded the purchase of their property.

The house was a demountable home. The walls were made from freezer foam with an aluminum frame. So, they were not able to make any changes to the walls.

Their final challenge was the time it took to sell the property once it was renovated. Most of the people looking to buy a house in a lifestyle estate don’t have cash; they have to sell the homes they are living in first. Nicole and Jay had a lot of interest and a few offers, but they all hinged on the sale of another property. The delay meant that they had to pay the lease for the land every week until they sold it.

Defining The Scope Of The Work

Before Nicole and Jay started their renovation, the bathroom and laundry were combined into a single small space that was not at all functional. They said the bedrooms were okay but the kitchen needed a lot of work. 

Nicole and Jay took the house back to its bare bones and changed the whole layout. They were able to put double doors out to the backyard and install a deck, creating the desirable “inside–outside” that the other properties in the estate do not have. In the end the house had a really nice flow. Nicole explained:

Working On Team Renovation Projects As A Husband-Wife Team

We call ourselves “She Renovates”. We are about empowering women financially through renovating. I have to say it, though, having a few good men in the mix is an awesome asset. It gives you an incredible competitive advantage if you and your partner are able to make decisions together.

In Nicole and Jay’s case, Jay told me that he is colourblind, so all of the design and styling is up to Nicole. When it comes to looking at a property, they ask themselves and each other what they want to achieve with the house, whether it is the layout or design. Jay said:

Nicole and Jay highlighted the importance of reaching out to other people when you disagree with each other. On their current project, they have asked the opinion of the other members of our Wonder Women Diamond community as well as their estate agent. 

The Secret To Success For A Family-Run Renovating Business

I have a theory that families that renovate together, stay together. It can be the glue that binds, provided you are both on the same page, working towards the same goals. Every team has their own renovation secret sauce.

Nicole and Jay have both always enjoyed property. They designed and built the first house they owned because they didn’t like what was available on the market. 

Jay says that while he and Nicole are in the renovating business together, Nicole is in the driving seat:

• Short-term: Building up cash so that they can do larger projects with at least two projects that create $100,000 profit.
• Medium-term: Move into a bigger forever family home.
• Long-term: Make renovating a full-time business.

It was really great to chat with Nicola and Jay. Their team is approaching their renovation business with level heads and great discipline, figuring out what they want to achieve and how long it should take them to do that.

Check out The School of Renovating Wonder Women Program to find out how you too can start a successful renovating business.