How to master the art of renovation
It could be said the Australian dream is to own your own property – but being able to purchase a property that has seen better days and turn it into something amazing enough to sell for profit is possibly another dream of many Australian singles and couples.
But how do you gain the knowledge and skills to be able to successfully renovate a property for profit?
We talked to Cathy Morrissey, CEO of The Reno Chick and Founder of The Renovation College, about how she has turned around the lives of thousands of Aussies struggling to make their mark in the property market.
Like most small businesses, The Reno Chick and The Renovation College were both born out of true passion and whole lot of drive.
“I wanted to find a better way to make more money but have the freedom to choose how much I worked and when I wanted to work,” recounts Cathy. “I have always been passionate about making old things new again and renovated and property invested in my free time.”
According to Cathy, everything changed in 2012 – thirty days after a friend of hers asked for help renovating a property before selling, they made $75,000 profit. The Reno Chick was born.
Four years on, Cathy has transformed countless properties and now passes on her skills and expertise to thousands of Aussies who want to make their property dreams come true through The Renovation College.
Her eight-week online course in renovating for profit is targeted specifically at Australians that are ready to invest and learn the right mindset to become a renovator.
“I teach my students how to use property as a vehicle to creating a life they want by either doubling their income in a year to considering retirement from their job,” Cathy explains.
The main topics covered at the academy include how to research property, work out the numbers and costs of the renovations before buying a property, presentation, marketing and selling for a six figure profit.
“The Renovation College stands for freedom to create the life you want,” expands Cathy. “Learning and creating a business and life you love IS possible for anyone – you have to desire it more than anything else though. You must have a deep desire and passion because renovating is hard work!”
Cathy is certainly no stranger to hard work – she previously ran her own photography studio specialising in weddings while raising a young family. Despite having this previous experience, Cathy says that starting your own business challenges you in every possible way imaginable.
“There are often times when money is scarce, resources are low and you’re not sure how it’s all going to work out,” Cathy says. “I took drastic measures and sold a home to help fund the business and moved to a different location to support my dream.
“You have to be a good problem solver and I would highly recommend getting mentors. Whatever upfront investment, will come back to you tenfold in return on investment in your business.”
So after taking a gamble and having it pay off, what is in store for the future for Cathy and her business?
“I’m currently building The Renovation College so I can help as many Aussies as I can to build a better future,” Cathy says. “New courses are on the way – so check it out!”
Fast four with Cathy
The best thing about doing what you do?
Making difference in people’s lives by passing on my passion. Being able to do that is an honor and my life’s work.
Best advice for anyone wanting to renovate for profit?
Get educated before starting! A house is a lot of money, especially if you overcapitalise by spending too much money on renovations.
Motivational quote from an inspirational person?
‘If you change the way you look at things, the things you look at change’ – Dr. Wayne Dyer.
Works perfectly for business. life and renovations!
Your own motto?
“Bad renos? I buy them- not create them!”