61 - Case Study: Deb & Avi

One of the most crucial things that renovators often overlook is establishing relationships. A good relationship with your team and the people you work with is vital to ensure a smooth and hassle-free renovation process.

In today's episode of She Renovates, we're back with Deb Levy to talk about their recently concluded renovation project. She discusses the most outstanding parts of the project, as well as the challenges they encountered during the renovation process. She also shares with us her thoughts on working with your family and how it has empowered them.

Check out the highlights of this podcast below and tune in to the episode for a more detailed discussion!

About Our Guest

Deb and Avi Levy formerly worked in the fashion trade until they reached a point where they were seeking for change and control over their lives. They took the leap of faith and decided to embark on renovating. Their first renovation project was their family home. Presently, they've concluded two successful renovation-for-profit projects.  

Case Study: Deb & Avi Gaining Confidence It's just a matter of rinse and repeat once you develop your mode of operating. Figure out your market and the process that works for you, and it will deliver results.  Fitting the Project Into the Overall Strategy They transitioned from income in the rag trade to full-time renovating. Relying solely on innovation is exciting but scary at the same time. Latest Reno Project The property was an apartment with two bedrooms, one bathroom, and one undercover garage. The apartment is in an old block in Benelong Crescent, Bellevue Hill. They completely transformed the apartment except for the outside wall. The apartment has a roof deck overlooking the harbour and the golf course in Bellevue Hill. They managed to get down the walls to bring the roof deck into the apartment. The configurations of the bathroom and the bedroom stayed the same, but they took out all the existing cabinetry work. The apartment was already sold before they finished. Their real estate agent brought a couple to see the place while still under renovation, and the couple bought it. Outstanding Parts of the Project The light factor induces a clean and modern vibe and has a great feeling to it. They maximized the light by putting glass balustrades in. The focal point of the living area: They took the wall out between the living room and the stairs to create an open plan. They also put a window between the kitchen and the staircase to bring light into the kitchen. The Value of Working With Your Agent From Day One The type of property that you get is critical. A real estate agent is an essential person in the decision-making process. Develop a relationship with your agent before you start the renovation. It's ideal for deal flow. When they were starting, Deb and Avi thought that they would be able to find the right property, but they didn't.  Working with a superstar buyers agent, Amanda Gould of High Spec Property, got them the property they were looking for. They've been working with her ever since. Challenges in the Project The biggest issue: Their private certifier switched jobs while they were doing the project. And so, they were not able to secure an occupation certificate. They had to call the council to get a building certificate after they've completed the work. Fortunately, after a few weeks of switching around, it all went well. Project Duration and Standout Products They started in June 2019, and they finished the project in November 2019. They worked with a great cabinetmaker who did a beautiful job for this project.  The furniture has a blank canvas so the buyers can put a piece of themselves when they move in. The LED light over the bench in the kitchen Purchase and Selling Price The purchase price was $1,165,000. For the overall expenses and fees for the renovation, the total amount spent was $250,000. They sold the property for $1,650,000. In total, they made a profit of $235,000. Renovation and Empowerment For Deb, it was empowering as a woman to have generated that amount while working with her husband. They have both become more confident in making plans and decisions. When renovating becomes your business, it draws in the whole family and cultivates an entrepreneurial spirit.

Did this episode inspire you? If you have any thoughts or comments about the show, head over to our iTunes, and leave a review there. You may also join the discussion in our Facebook group, She Renovates.

Connect with Bernadette Janson on The School of Renovating and tune in to the She Renovates Podcast. You can also reach Bernadette through Twitter, Instagram, and LinkedIn.

Thanks for listening!