How to Avoid The Biggest Renovation Mistake - MPC

How to Avoid The Biggest Renovation Mistake

Mistakes are inevitable but there are some you should never make.

Bernadette Janson from The School of Renovating candidly shared her biggest mistake so you won’t have to.

Some time ago, Bernadette found a property that stacked up as a flip project. She had an offer accepted then went to the bank for finance but unfortunately was turned down. Then, she emailed her solicitor to ask him to cool off on her behalf. A few days had passed when she received a surprising call from the agent congratulating her on the purchase.

Turns out, Bernadette’s lawyer had gone away, without telling her! The cooling off had not been actioned and she was in an unconditional contract for the purchase of a property for $890,000 with no finance. If she didn’t find the money to purchase the property, she would’ve lost at least the deposit of $90,000.

Thankfully, her builder at the time had been wanting to do an join investment property together. They teamed up and they made $178,000 profit on top of the builder’s margin.

Such is the power of investing together in a group!

Fast-forward to today, Bernadette is currently on her 9th investment property group. Teaming up with other people is not only helpful but it is also a great source of empowerment, kinship and joy.

The benefits of investing together in a group continuously show and that is exactly why My Property Circles is here. We help groups invest in property together and make sure they’re doing it right and are supported throughout the process.

Our team of specialists from lawyers, property buyers to accountants will support you throughout, so you don’t make those unwanted mistakes. From those annoying admin tasks, collecting legal documents, setting up a secured trust structure with lawyers, answering property questions to navigating the necessary communication between Property Circle team members, we will help you whenever you need.

As always, please feel free to reach out to me at amelia.h@mypropertycircles.com or book a 15-minute chat here if you have further questions.

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