Video compilation of my second reno by Kyron | Aug 16, 2013 | investing, renovation, team | 5 comments http://www.dbh.govt.nz/bc-no-consent Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Google+ (Opens in new window) Related 5 Comments Paul Magill on August 17, 2013 at 2:32 am That’s a really brilliant presentation Kyron, very interesting, cheers Paul Reply Shane on August 23, 2013 at 8:39 am Kyron, Excellent video on the reno process of your Weymouth Home and Income. I have 2 x Home and Income properties almost exactly like this one i.e. 1960s front house, 10+ yrs old minor dwelling in the rear. A couple of questions for you if you don’t mind. – How much did the deck out front cost to build and how much value do you estimate the deck will add to the new valuation? – How much did the value of the property increase post renovation? Thanks for the great videos. Regards Shane D Reply Kyron Gosse on August 29, 2013 at 9:43 pm Hi Shane We paid $430,000 for it, spent $20k on it and just got it valued at $495,000. We had been aiming for $500,000 but what let it down is that 3rd bedroom is just so small. I always knew I was taking a chance with it, but its not so bad, we were aiming to be able to pull our money out and still have a 90% – (yes I know this is high but we are working on getting it down.) However now we have 91% , so we might just have to leave $450 in the deal. I think $450 for a house bringing me $4000p/a and increasing in value isn’t too bad. The deck cost us $4800+GST. The major things that contributed to the increase in value was the deck the paint job and the kitchen. I think the deck probably accounted for about $15-20k, the painting again would have to be $15-20 and the rest made up from the other small things we did. Reply Shane on August 30, 2013 at 3:20 am Kyron, I would be very happy with that result being able to pull out almost all of your deposit after the bank accepts the new valuation. That information you provided regarding the deck is very valuable to me and I guess I should go ahead and invest in one. It’s funny, I have a Papatoetoe H&I that is the spitting image of your Weymouth property before your renovation. I saw you have 3 properties under contract right now. It will be nice if the Pt. England one sells. Best of luck. Shane Reply Nic on August 30, 2013 at 12:09 pm Excellent review Kyron. Most impressed with your strategy. Onwards and upwards Reply Submit a Comment Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website Notify me of follow-up comments by email. Notify me of new posts by email.