Renovation Training Teamwork | Class Project Update Report

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Renovation training

Renovation Training is always more effective when there is collaboration and teamwork. For this Class Project, one member of our project investor group is Kerry Mills. Kerry has agreed to be the student Bernadette will work closely with, to mentor her specifically in the many aspects of the project. 

Kerry also lives in the Newcastle area, so it is convenient for her to visit the project house as needed and follow up on any specific actions as part of the renovation training and action plans.

The full team of fourteen investors are all participants in The School of Renovating’s Wonder Women Renovators program.

Having met the prospective builder, Luke, last week, he has had a good look through the house on the day of inspection, as well as another time since then.

A discussion was had regarding our proposed floorplan, which will involve removing walls. Luke organised an engineer to quote on providing the necessary structural specifications to achieve the support needed.

Bernadette, Kerry And The Renovation Training Plan

Bernadette and Kerry discussed where the project is up to and continued to strategise a plan 

I’m really excited to start on this project and I’m excited about all the things I can learn” ~ Kerry Mills

Kerry has done her own house renovations before. Now with this project, and the renovation training Kerry is keen to learn the renovating for profit principles, and the actions required to achieve the outcome. 

Project Scopes Session Defines Scope Of Work For Trades

The scoping session was a great learning curve for me. It was a two-hour session updating spreadsheets and it did show me the value of the process. ~ Kerry Mills

“I’m doing my own renovations here and I’d just had three people come around and I talked to them about what I wanted – and then I got three quotes back for different things!
So, it’s very hard to compare.” ~ Kerry

 

Kerry is also keen to learn about:

  •       Finding trades, especially in these ‘pandemic’ days 
  •       Understanding the quoting process 
  •       Choosing the right builder
  •       Knowing how to prioritise on the project – with an eye on the profit

Bernadette: Let’s Address The Trade Situation Now 

This is the next thing on the project agenda. The way I’m looking at this, we need to be able to manage the project as a remote project.

Consideration will be given to the builder if his pricing works within our budget, for him to do the whole job. However, we have to always hedge our bets and get additional quotes for comparison as well.

We need to get our own quotes on the base trades like electrical, plumbing, demolition, tiling, and waterproofing. Getting our project into each of the trades’ schedules will be important.

Planning The List Of Trades We Need Quotes For

Next week we’ll need to make a list of people we want to quote. And then come to the site and get going on that while Luke is finalising his price. 

Finalising details for the overall plan is also important.

Kitchen Planning Will Become A Priority

Are we going to get it custom-made? Are we going to do a flat-pack? Bernadette is interested to get a quote from Kaboodle.

COVID Rules And Being Able To Be On-site

We may be able to follow the trades’ protocol regarding COVID and have testing done every three days so that we can actually go to the site? We will need to explore this more.

Preparing For The Property Settlement

Bernadette needed to go to the bank personally because, for a large sum of money, they have quite a rigorous scam-prevention process. That’s all been set up. 

Insurance is also set up and needs to consider the overall project time frame of more than four months, including a six-week sales campaign.

Bernadette usually insures a project through the bank because it’s usually much easier. The payments can also be set up to come out of the account. 

Settlement Day – When The Rubber Hits The Road

Judith, our buyer’s agent has already done the pre-settlement inspection. She will pick up the key and then Kerry will get the key from her.

Kerry will buy and set up a key safe. So if we have a trade come and we need to get in when nobody can let them in, then we can just direct them to the key safe.

Renovation Training Focus For Kerry And The Class Project Team

The big focus for the next few months is to see how Kerry, especially can learn to do this for herself. So, if it’s easy to find projects and we can get the process down pat, then we will have a recipe for success.

This project will give me the confidence to go ahead with bigger plans” ~ Kerry Mills

Renovation Training News Flash ~ From Bernadette! 

I just wanted to let you know that we settled on the Freyberg Street property on Friday (16/7). I had a call from the solicitor to say, it’s all gone through. 

Now we get to the exciting part of our renovation training!” ~Bernadette

Getting The Keys, Setting Up The Lockbox

Kerry can now pick up the keys and she’s also going to set up the lockbox at the site. 

During the week the engineer came through, so we’ll be getting an official report later today.

And so now we are in a position where we can bring in lots of trades because we’ve got full access. 

This week we will be really getting organised with the quotes so we can start as soon as possible. I am expecting that Luke, the builder I’ve been talking to, who has been working on this for the last two weeks is going to be within our budget.

I’m hoping that’s the case, but I do have two other builders I’m going to be getting a check process from. 

Engineers Report Is First Priority 

The engineer’s report will be first priority because that really determines the cost of the build. And he’ll be designing a beam for over the opening at the rear and also the beams for taking out all the walls in the kitchen-living area.

Congratulations To Our Class Project Team 

We’re on the road with our renovation training project…

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