The Biggest Obstacle for Women Renovators

The podcast for women who want to create income and a life they love through renovating

Join serial renovator Bernadette Janson as she explores the ins and outs of renovating for profit!

Bernadette has over 30 years of experience in the renovating for profit business. She’s a registered nurse, a renovator, a mum, and a teacher.

44 – How To Add Property To Your Portfolio The 10x Way

On today’s episode,

Bernadette is going to be talking about how to add a property to your portfolio the 10x way and learning the strategies to achieve that goal.


Listen to Episode 44: How To Add A Property To Your Portfolio The 10x Way


Bernadette covers,

  • The process of capturing a high cash-flow and a high growth property
  • Buy a property that has significant growth over a period of time
  • Buying property in a capital city guarantees a double in value
  • Buy a property at the right price
  • Apply a high cash-flow strategy that will put money in your bank
  • Buy a property that has the potential to increase its value exponentially
  • The importance of depreciation in a property
  • The rinse and repeat process that will earn you money

Episode highlights

01:05 – Buy a property in an area that has significant growth

02:47 – Buy at the right price

04:23 – What is a high cash-flow strategy?

07:00 – Buy properties with potential growth

08:00 – Work with your accountant and quantity surveyor

09:16 – The rinse and repeat process

10:04 – The name of the game

10:30 – Financial Freedom…Against The Odds




But if you’re a bit more conscientious about your research you can probably find areas that are going to grow more than that in the immediate future. They might have been through a long lull and be about to boom. And so getting that early growth would really help you, I guess pull your cash investment out of it, your deposit and your reno costs and go again.

Anyhow, you may engage someone to do that for you or you might consider a capital city. The next thing to do is to make sure that you buy at the right price. Now, this means at or below market value and if you don’t know what you’re doing you probably don’t even know how to determine what market value is. It never fails to amaze me the number of people who will buy a property without even the bare minimum of information not even access to something like RP data. And that is like flying blind because unless you know the sale prices of the properties surrounding your property you’ve got no idea of knowing what the going rate is.

I would strongly recommend that if you’re not willing to do at least that level of due diligence and probably a lot more then you should be going with a reputable buyer’s agent. Because if you pay too much for the property you will spend 2 or 3 years at least waiting for it to come up to the value that you paid before it can start growing and giving your return.

The next point is you want to be able to apply a high cash-flow strategy so that it’s putting money into your bank. Most properties when you first buy them will be costing you money. It’s very rare that you’ll buy a property that is cash-flow positive. In real terms, they may be cash-flow positive on paper but they’re probably not in reality. You wouldn’t be able to apply a high cash-flow strategy to that property.

The School of Renovating and She Renovates Podcast with Bernadette Janson

What is the high cash-flow strategy? Well, it could be short-term rental or Airbnb, it might be affordable accommodation. It could be a dual key. All of those strategies are good for really increasing the cash-flow exponentially. But of course, if you’re planning to apply that cash-flow strategy it may have a bearing on where you buy the property. For instance, Sydney has some laws coming in that’s going to limit the number of days you can have your property on short-term rental to 180. So you might avoid buying in Sydney and maybe buy somewhere you’re not restricted by those laws.

In terms of affordable accommodation. In New South Wales, we have great legislation called the New Gen boarding house. Well, it doesn’t require that you build new you can convert an existing. In Victoria, they have great rooming accommodation legislation that you can utilize on an existing properties. You might look at maybe buying in Victoria.

You really need to align the area that you’re looking at buying not only be looking at its potential growth but also look at how that area impacts the strategy that you’re planning to apply in terms of cash-flow.

Which brings me to the next point. You need to buy a property that has the potential to increase its value exponentially. Now that may be through adding a bedroom, you might be converting to a New Gen boarding house. It might have a land component that you’re able to separate off and get a block of land for free. But you want something that’s going to increase the value of that property exponentially. And the reason you want that is so that you can decrease the leverage. If the property goes up in value by virtue of the renovation or whatever you do to it. That means that by comparison that the loan is less, proportionally less.

And so you will get to a point much quicker where you have got sufficient equity into that property to be able to revalue, take some money out and move on. Often people will look at their first investment and they’ll think, “Oh you know I’ll just buy a little unit here. That’s a safe way to get started” But in reality, it’s not and it’s a dead-end way in lots of cases to get started because you can’t do anything with it unless it’s got a potential to increase the bedroom count. You may be able to put it on Airbnb but sometimes that’s problematic in apartments, too. But there’s nowhere to go with it. So you’re really stuck with just living with the organic growth which you have no power to change. Really think about what you’re buying and make sure that you buy potential.

Now the next 3 points are around depreciation. Buildings are depreciated over 40 years so if you look at buying something that’s about 20 years old it still has 20 years left of the building depreciation. That’s a good way of making sure that you max out your cash-flow and often a 20-year-old building will provide a really good return on your renovation spend because they’ve got good bones. And they’re to the point where they’re pretty tired and will spark up really well with just a fresh coat of paint and some new finishes. Think about the age of the building that you’re buying.

The School of Renovating and She Renovates Podcast with Bernadette Janson

The next thing to know is that if you buy a property and you intend to have it available for rent, you renovate it to rent. There are circumstances where you can actually write off the things that you take out of the property when you renovate on your tax . You need to work with your accountant and quantity surveyor to make sure that you stick on the right side of the law with this one. But it’s also another way to be putting money into your pocket rather than just spending money on the reno.

And the third depreciation point I want to make is that if you own the property then when you will be buying all the appliances and cabinetry that you put into the renovation of the property. Then you are able to depreciate that’s called plant and equipment. So you’re covering all areas of depreciation and that will certainly be putting money into your pocket every year at least for the first 5 years after the renovation that you own the property. Once again make sure that you discuss with your accountant and quantity surveyor to get your facts right.

And then the last point I want to make is that once you have purchased the property in the right area you’ve got it cranked up, you’ve renovated it, you’ve got it cranked up on a high cash-flow strategy and it’s bringing in the money and it’s growing in value. Then the next thing to do is to go along to get your financial institution and re-value the property. See if you can refinance. Take some money out. And use that money to start your next property and then repeat the process. We call it rinse and repeat. Basically what you’re doing is setting up a whole lot of little money machines. You’ve got each one of them generating a positive cash-flow and it’s growing then they’re all putting money into your pocket rather than taking money out.

And over time they will grow to be something incredibly substantial and eventually replace the income that you have now so that you don’t have to go to work. And that’s the name of the game.

Okay, we’re short and sweet today. And before I go I just want to remind you if you’ve not got your tickets for our event “Financial Freedom… Against The Odds” then we still have standard tickets across the board in both Sydney and Brisbane. I don’t have any VIPs left in Sydney I’ve still got a few in Brisbane and so if you’ve not got your tickets please make sure that you grab them this week because we’ve only got a week to go and I’m really looking forward to meeting you in the flesh.

If you haven’t already done so please go over to iTunes and give us a review so that we can share the love and I hope you found today’s podcast episode valuable. Take care.

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    Amazing Free Content!LeaLea707 via Apple Podcasts · Australia · 05/22/22
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    “I have been listening to this Podcast for a few years now. I love how Bernadette freely shares her experiences and knowledge of renovating and how to create wealth through property. There are many people out there doing a similar things but Bernadette is the real deal. Her down to earth approach reasonates with me and I’ve learned lots from her. I’d highly recommend She Renovates!”
    Just brilliant!fbegeng via Apple Podcasts · Australia · 03/16/22
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    “I've been binge-listening to this podcast for the past week and it's absolutely brilliant. Bernadette has amassed so much knowledge and wisdom about renovating and she shares it generously and in a really easy to understand way that's inspired me to give it a go. Her advice is practical and I love that she approaches renovating in a really ethical and open-hearted way. Every episode honestly is gold. I also love that each episode is quite short and addresses a specific topic without any waffle. Thank you so much for this podcast!”
    Practical and honest adviceLuke Marland via Apple Podcasts · Australia · 05/12/21
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    “Hands down best renovation podcast there is. There’s no scams or tricks here and Bernadette provides honest and practical advice that you can actually apply to your life. There’s also great insights into the property industry (not just renovating) and Bernadette’s simple approach gives you tools to mitigate risk and fuels confidence to start your own projects.”
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    “Bernadette is an inspiration. Warm, open and a fountain of wisdom and advice. I’ve learned so much about everything from renovating to selling to creating an independent future from this podcast. Look forward to every episode!”
    Practical Magic For All RenovatorsJames’ Inspiration via Apple Podcasts · Australia · 12/15/20
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    “If you need to break through any of your limitations to find the joy and success in renovation, Bernadette is your inspiration and advisor with decades of experience. Her down to earth, practical style of sharing what works and how to keep control of any renovating project is worth tuning in for - week after week. I have done a few renovations in the (distant) past and now feel motivated to go again, this time for a change of pace and new horizons. This podcast shows the way. Thanks Bernadette, James Burgin”
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    “Just dropping by to show my support for your podcast Bernadette. I look forward to each episode and I am never disappointed with the content. It’s such a generous offering and compared to many of the other property podcasts I subscribe to, yours is the clear winner. Perfectly suited to people embarking on a new renovator journey but equally suited to more experienced folk like myself - there’s something for everyone. Keep up the great work. Your honesty is so refreshing! I look forward to future learning and hearing more student success stories. Best, David Michos (And yes... a bloke) 😉”
    You would have to be crazy to miss this !!Lifestylepp via Apple Podcasts · Australia · 10/15/20
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    “If you have any interest at all in renovating, you would be crazy not to listen to every episode! As someone who has done many courses and a project manager by trade, i learn something every time. Bernadette is so genuine and generous and totally relatable. Do yourself a favour and subscribe now !”

    Want more?

    If you want to meet up with a group of savvy renovators. I would say come over and join She Renovates Facebook Group. It’s a completely FREE Facebook group and it is growing at the rate of knots. We hit over a thousand members just recently, and now it seems to have picked up momentum. They are all savvy renovating women and men working their little hearts out to live a better life through renovating.

    The only membership you need to grow your renovation business…

    Wonder Women is a combination of live sessions and pre-recorded content to help you get what you need, when you need it. I know that you’re the expert and you’ve got all of your subject knowledge nailed – now it’s time to build the business behind your renovation projects and stop being the worlds best kept secret. 

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