Flippin Heck – My first reno

The purpose of Wealthy Chicks is to inspire woman to face their fears and get wealthy. Being wealthy means different things to different people, it may mean financially wealthy,  wealth in your health, fitness, travel experiences, or most importantly the wealth and value found in great relationships.

Join me as I face my fears and look to create wealth by renovating. My first full renovation – and yes it scares the pants off my moderately toned butt (don’t worry exercise wealth, I am doing squats later today) – but it also excites and inspires me.

Wait a minute……What am I thinking……. this is truly scary!!!

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I really should think about this more, and as a verified expert in “what can go wrong”, here’s a condensed version of what I call “What if’s”:

  • What if I can’t find an apartment in my price range, it’s Sydney, I don’t have a gazillion dollars…reno dream over, nothing to talk about, blog shut down, all my readers disappointed….I only have one reader? I’ve disappointed my Mum, again.
  • What if have to go to an auction, oh my lord the stress, I stick my hand up to wave to someone, they think’s it’s a bid, I pay way over my budget, all from a friendly wave.
  • What if I pay too much (probably because of my friendly waving)
  • What if my reno goes over budget, I run out of money, I become homeless, in winter…okay winter in Sydney isn’t that cold, but I have a pug dog that is used to a certain lifestyle…and now he’s homeless, begging for treats in a dog eat dog world
  • What if get sick, I never get sick so I am due to get sick, something infectious and the whole apartment block is quarantined, for months…it could happen
  • What if my renovation is hideous, really ugly, not functional, the before photo’s are better than the after photo’s, and the before photo’s were UGLYYYYY
  • What if interest rates go up, down, sideways…can they go sideways, I’m sure it’s bad
  • What if the market crashes? It’s houses crashing, that has to be painful
  • What if I make a big, scary, loss of titanic proportions

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All of these “what if’s” are going through my head creating nightmares worthy of a M Night Shalalalala (you know who I mean) movie, yet I am still going to do it! You’ve seen Mr Shalalalala’s movies, I am being very brave! Did I mention Julia Roberts will be playing me, perfect casting.

I’m still doing it, the “what if’s” still exist, Julie Roberts is up for an Oscar as the terrified renovator, and I am still equal parts scared and excited.

So why am I doing it, am I insane? Before my only reader responds, hi Mum, I think a little bit of insanity goes a long way (this is not an admission of my insanity, I am not a doctor, I am not qualified to make that assessment, nor is my Mum).

Does changing the focus from what could go wrong, my “what if’s”, to what could go right make a difference? Let’s throw caution to the wind,

The “What could go Right” “what if’s” :

  • What if I researched suburbs to find an area that has properties in my price range that can be renovated for profit
  • What if I buy the right property at the right price because I researched, and stopped randomly waving at people at auctions
  • What if I got over my auction anxiety by attending lots of auctions, becoming comfortable with the process (this is sounding suspiciously like research)
  • What if I take precautions to avoid getting sick, get the flu shot and a lollipop
  • What if my renovation is completed on time and on the money because I took the time to research and prepared a budget
  • What if my reno is beautiful because I did my research and knew my market (again with the research, Mr Shalalalala’s plots are never this obvious)
  • What if it sells quickly and achieves the right price…because I did, wait for it, RESEARCH

I have a new list of “what if’s, and it looks like a lot can go right (awesome) because I minimised my risks (yay, risks are scary) by doing my research…research, reearch, smesearch, boring, I want to BUY NOW

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Hazards

I should wear this as a T-shirt, I trip a lot!

Hazard #1 – also known as signs of impending doom! I am an action person, I want to buy the property yesterday, be ripping out the kitchen as I sit here typing (we chicks multi-task), not doing hours of research. I also want to create a beautiful apartment that generates the best sale price for me to make a profit, so I guess I have to admit research might, just might, come in handy.

Hazard #2 – I am absolutely terrible at asking for and accepting help. I tend to do things (love action), on my own (I don’t need help) and get bored with research, what could possibly go wrong? Oh yeah, remember when it took 2 days to assemble an 8 seater outdoor setting, plus there’s that initial list of “what if’s”, that’s what could go wrong!

Let’s pause for a moment and recap what we have learnt so far:

  • My blog has a readership of 1, my Mum, and she is mainly interested in the pictures
  • I am not an expert in renovation, auctions, or writing/blogging
  • I am an expert in “what if’s” of the doomsday variety
  • I could end up broke and homeless
  • I need help (admitting you have a problem is the only step, the first step, how many steps can there possibly be? It’s a process, for real!)
  • Preparation and research (there’s that bolding again) is absolutely necessary
  • I should not put an offer on that 1 bedroom retro ‘70’s apartment in North Sydney just yet! Or should I???????

cliffhanger

Cliffhanger, gotta love how I managed to get a bad Stallone movie in to my blog

Okay, back to my cliffhanger. In the next instalment find out:

  • If I ignored all the advice in this blog, threw research out the window and purchased a ’70’s retro apartment in North Sydney?
  • If I get over my inability to ask for help?
  • Did I find research interesting and sexy? I am sure researching Brad Pitt’s ab’s is both interesting and sexy, but anything else, dubious!

See you on the Reno flip side

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