Cherie Barber and partner Steve Tolle didn’t set out to swap being a mortgage broker and marketing manager for a renovating business. But when they took on a one-off renovating project and made $270,000 after four months of working just weekends, they realized they’d be crazy not to.
They began slowly doing one project at a time, which meant inspecting properties each weekend and lots of labour on their building sites. Now they’re able to work on up to three projects at once and the rewards are everything they hoped for.
“We can live life as we please, work when we want and where we want” Cherie Barber
Cherie and Steve have worked out a formula for selecting houses and renovating for maximum profit, making an average of $300,000 per house.
Cherie says the secret is:
- Knowing the market
- Keeping costs down
- Working to tight timelines; and
- Driving hard bargains with contractors and suppliers
Cherie has extended the business to teach others how to make money out of reno and present “how to” workshops all around Australia.
Cherie also offers 2-day courses with take-home study kits (DVDs, Manuals, Discounts and after-sales support) which show people how to identify money-making suburbs and properties with potential.