The Biggest Obstacle for Women Renovators

Success Stories

The School of Renovating

Take a look at past and current students’ successful renovation and Airbnb projects

Elsternwick Flip Melbourne By: Liana, Katya and Tayissa Slipetsky

We Renovator: Liana, Katya and Tayissa Slipetsky

Project: 2 bedroom apartment flip project in Elsternwick, Victoria.
Purpose: To cut our teeth on our 1st flip with the aim of making a small profit

Scope of work:

The apartment was completely renovated. We went back to bare concrete. Only 1 plaster wall was removed and the separate toilet was turned into a laundry. All fixtures and fittings were removed. Everything in the property was replaced/new.

The biggest challenge with this project:

THE BUDGET – This was tough! As much as we tried to follow your guidelines of 7%, but we realised from early on that this was not going to be possible of the style of renovation we wanted to present.

TRADES – We quickly realised that trades take up a big portion of the budget. We had employed some fantastic trades for the project, but then some of them we would never use again. Will try to get a builder/carpenter who can give us a fixed price for all the work NEXT TIME ?

PLANNING – In order to be ready, we found out that you need to be a few steps ahead. We did some very rushed and chaotic decisions at times because we had not thought far enough ahead.

FLOOR PLAN – Changing the floor plan to make it more appealing to today’s style of living without taking out the brick walls was very challenging. For this to happen, we removed 1 plaster wall and closed 1 entry point and got creative to make the apartment have an open plan feel. I feel we did it successfully.

RENDERED BRICK WALLS – Oh the joy! It’s worth buying a property with solid brick walls for they are a step above what you get in a new build today. You have to be prepared for the additional work and cost associated with this project.

Best renovation budget finds:

Our French Backpacker joiner who we found on gumtree at $25 per hour plus breakfast, lunch, and snacks! He was a master craftsman and our favourite trade. Marble tiles – $250

How long did the renovation take?

  • Purchased – March 2017.
  • Settled – 20 April.
  • Reno started – May.
  • Finished- end September.
  • Sold – 29 October.
  • Settlement – 12 December

The biggest lesson as a student of The School of Renovating:

The budget – This is a constant work in progress. If we want to deliver beautiful, unique, quality renovations, how can we do this on a 7% budget? We are still working this challenge out.

Value adding – How far do you take a reno sometimes? For example: If we put a less expensive tile on the feature wall in the bathroom, would it have given us the same outcome?

Renovation Cost Breakdown

Purchase PriceBuying CostHolding CostRenovation CostSOLD PROFIT Profit (Net)
$485,000$48,708$ 1,368$51,000$642,000YESapprox $50,000

Liana, Katya and Tayissas’ advice for all budding renovators:

Do it!! It will be scary but do you can it. You can start small – maybe do a 2 bedroom apartment AND be sure to put the paint lid on properly before you put the tin in the boot of your car ?

  • Related Posts

    Share it!

    If you loved the episode, I would be so grateful if you shared it on social media or left a review! 

    Amazing Free Content!LeaLea707 via Apple Podcasts · Australia · 05/22/22
    Read More
    “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
    Read More
    “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
    Read More
    “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.”
    Amazing insights and adviceJennaBrad via Apple Podcasts · Australia · 03/22/21
    Read More
    “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
    Read More
    “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”
    My Guilty Pleasure..Tanned Greek via Apple Podcasts · Australia · 10/26/20
    Read More
    “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
    Read More
    “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. 

    Scroll to Top