Does Renovation or Development Add Up? With Stuart Wemyss

Perth Property Insider Podcast

English - May 19, 2022 10:32 - 33 minutes - 30.7 MB
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I often get asked if its worth using a renovation or development strategy or if that same money should just be used towards buying a better quality or additional property…

So I got Stuart Wemyss from Prosolution Private Clients on the show to run us through the numbers and his thinking on what strategy stacks up best over the long term.

He shares with us his insights and detailed analysis using 3 scenarios he came up with to really give us clarity on the various options for how best to potentially invest for the greatest returns.

There's so much to learn from this episode so let's go inside!

Resource Links:

Join the Perth Property Investment Facebook Group (https://www.facebook.com/groups/perthpropertyinvestors) Join Jarrad Mahon’s Property Investor Update (https://www.investorsedge.com.au/join) 1 on 1 strategy session with Jarrad Mahon (https://www.investorsedge.com.au/strategy) For more info on our award-winning and highly rated Property Management services that give you guaranteed peace of mind (https://www.investorsedge.com.au/perth-property-management-specialists/) For more info on how our Property Sales services can ensure you get the best selling price while handling all the stress for you (https://www.investorsedge.com.au/selling-your-perth-property/) Get Jarrad’s strategic advice towards your property purchase and development plans (https://www.investorsedge.com.au/invest-in-perth-property/)

Episode Highlights:

Introduction [00:00] Steps to Take to Maximize Long-term Value [02:19] Values and Appeals Over the Short Term with Renovation and Development [06:38] Benefits of Renovating or Developing an Untouched Property [11:06] 3 Scenarios for Financial Analysis [15:41] Scenario #1: Close Renovation [16:04] Scenario #2: Full Redevelopment [16:25] Scenario #3: Small Property Development [16:47] Comparison of The 3 Scenarios [17:24] Risks and Potential Returns [24:22] Key Takeaways [26:23] Transferring of Assets [28:01] Outro [31:41]

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