The PROPERTY DOCTORS, Sydney Australia Novak Properties
NOVAK PROPERTIES CREW and PROPERTY LEGENDS in the industry share their experiences and knowledge. Hacks and tips to make you a smarter property GURU :) Learn with exclusive content, advice, insider info and HOT real estate industry PRO SECRETS. For sale, for lease, residential, commercial, buying off the plan, finance, mortgages, interest rates, first home buyer, investments - all topics covered. The untold real estate info you've been waiting for.
The PROPERTY DOCTORS, Sydney Australia Novak Properties
EP. 1396 TURNING 10K INTO 100K WITH PROPERTY. HERE'S AN EXAMPLE...
Ever stood on the sidelines watching friends or family seemingly conjure wealth from property while you wonder, "How do they do it?" You're not alone. That feeling of property envy—that "must be nice" moment—is something even seasoned real estate professionals experience.
The good news? Building substantial equity quickly isn't some mysterious talent reserved for the lucky few. It's a skill you can learn, and we're pulling back the curtain on exactly how it's done. From finding properties with potential to making strategic $10,000 renovations that can yield $100,000 in added value, this episode breaks down the six proven strategies that savvy investors use to accelerate their wealth creation.
The Property Doctor diagnoses our collective condition of property paralysis and prescribes a powerful remedy: belief in yourself and the right team around you. As we illustrate with real-life floor plans and examples, sometimes the simplest changes—adding a wall to create another bedroom, reconfiguring bathroom access, or reimagining a kitchen layout—can dramatically transform a property's value. The secret lies not just in seeing the potential that others miss, but in having the confidence to act on it.
Whether you're a first-home buyer with a modest deposit or looking to level up your existing portfolio, these practical strategies can help you move from property envy to property success. Remember, the process is exactly the same whether you're buying a $500,000 apartment or a $5 million home—only the numbers change. Ready to turn that "must be nice" feeling into "I did it"? Your property transformation journey starts here.
Are you ever a witness to a property transaction? Where you go must be nice, must be nice for them. We're going to give you some tips on how to do it yourself. The real-life example stay tuned, I'm the ringleader. So much love, oh yeah.
Speaker 2:Ka-ching, ka-ching.
Speaker 1:Ka-ching, ka-ching, ka-ching. Must be nice. Must be nice when you see people do it and we're in the business. You see people do it and you know family and friends and people and you go. My god, must be nice. How do they do it? How do they do it? How frustrating, how?
Speaker 2:you feel happy for them. But you are like, how did they do it? Because they bought the same time as you but they put like 200, 300, 000 equity in their property 100. It's crazy. And we went for a place yesterday, um, that that sort of sparked this conversation. Some people, I think, buy really really well, but some people have got just an eye for it, and that's what we're going to show you this morning how you can do this yourself and Billy, the struggle's real.
Speaker 1:You're personally going through this at the moment.
Speaker 2:Yeah. I've been diagnosed by the property doctor. Yes, yeah, I've been diagnosed by the property doctor. Yes, and the property doctor said I'm actually a long-term Survivor Survivor myself.
Speaker 1:And it doesn't get any better, but you just manage it. The highs get higher and the lows get lower. So what are we talking about here? We're talking about you know, you've got a bit of money in your pocket. You're thinking property or you're thinking what do I do with this money? And you turn it into a lot of money and then you think yourself must be nice when you see people do it. You go how does this happen? Like why, how can I do it? And people come me. Like 32 years as a real estate agent, you know how many people have come to me and said show me how these other guys do it and I'd step them through.
Speaker 2:Yeah, I've got six really, really good starting points here as to how you can build quick equity into your property and then we'll move into the real life example. But number one is the obvious. It's finding a property that's below market value, and the secret to that is in your positioning. If you're ready to transact quickly and offer flexible settlement terms that suits the vendor whether it's be a quick settlement property is empty, long settlement being they need to go and find something else. It's all about your positioning and there's many reasons people will be selling. So as long as you can cater to that, that's one way.
Speaker 2:Target areas with good potential growth there's things like government infrastructure, which is not something to bank on, but if you know it's sort of coming. It's like a bit of a boost to the local area. Cosmetic renovations we'll come back to that off the plan with market movement very, very clever. Seeing a lot of success with that in the last two to three years, particularly in the strata yeah, particularly in the strata market. Um, you've got subdivisions or granny flats, bit of a cash cow for investments or smart upgrades. So such you know such things that buyers or tenants you just know they're going to pay more, whether it be for rent or whether it can be for resale.
Speaker 1:There's six, that's six. There's six good ones. Can I tack two more on the end for everyone? That's watching Belief? There's this intrinsic like in your head, there's this doubt. There's this can't do it. There's this shouldn't do it on one side. And then there's this other side. It's like go, push, go, you can do it. It's going to. There's this other side. It's like go, push, go, you can do it, it's gonna be okay, do it, you can go. Billy, you and I had this conversation. You came to me like and I was like go, you can do this. So how you know? I I would suggest that this is the most, this is the number one, above all by it's a big piece of a piece of the pizza. You've got to have that belief in yourself, that confidence in yourself, because a lot of it's just shuffling paper around. You're not lifting heavy weights.
Speaker 2:I like that analogy. It's chess pieces around the board to make it happen and everyone's got the same variables in this equation, like whether you're buying a five hundred thousand dollar property or a five million dollar property. The process is exactly the same.
Speaker 1:Nothing changes, just the variables being costs billy, you've got got a book that you've written for first-home buyers Little book, good book. One of the things and this is my number two Guys, I'm speaking to so many people in the course of a day and a week and a month and a year and my career, this is the best I've got for you. One is the belief. Now the other one that's in your book billion. This it's a first time by a book. You, you know, guys, flick billion sms and I'll send you one. What did you call that community around you or that support structure around you?
Speaker 2:yeah, it's your team and it doesn't cost anything to get it, get it together. But the team around you that helps to, to support you through that process and I don't just mean financially here, I'm talking emotionally whether it be a visit to the property doctor and he tells you no, this is normal, what you're feeling is normal, you know you're on track. Or whether it be you know sort of the friend or the guardian that says you know we're here to help. And again, I'm not talking with money, it might be you know we're just going to give you an extra six months at home whilst you're just getting into the mortgage for the first six months. Or, yeah, lots of small things, but that team environment around you, your property team, you know how many teams I'm on unpaid.
Speaker 2:Yeah, I can imagine.
Speaker 1:Do you know how many teams I'm on unpaid and people don't come to me when they're well or when they're sick. They just always come to me. I'm on their team. They go, mark, this is what I'm thinking. I'll say do this go. Sometimes they do, sometimes they don't. But I'm telling you, guys and girls, collect good humans around you that have what you want. Sounds selfish, but what makes the friendship is when you have what they want and they have what you want. That's a beautiful friendship. But I'm not talking about money. So build your team. When you're looking at buying property, build a team of people around you to give you confidence, go to, to motivate you, to push you, to tell you what's going to be okay, because you know you need that. You can't win anything in life without a team Nothing, nothing. So you've got to focus on that team. You've got to lubricate that team.
Speaker 2:And some people might not even know what team we're talking about. So, again, for a first-home buyer, it starts with someone that has what you want, because not everyone in the team is going to be on board, so that's probably the biggest thing. But it can be parents, guardians, friends who's on your team, the property doctor on the screen, um. Parents number two. Mortgage broker number three. Good solicitor number four, um, that's pretty much it. There's probably a handful of people.
Speaker 1:It's quite a close-knit group it said I can use hand gestures on my phone. I'm gonna try yeah it's only a hand.
Speaker 2:yeah, it starts with that. Now let's get into the real life example, because that's what we promised this morning. Now you've been with us many a times, mark many a time floor plan modifications, cosmetic upgrades, um smart, what was the number six?
Speaker 1:it was number number I've I've seen people out of bedroom by putting a wall in smart upgrades yep target yeah, gibson.
Speaker 2:Example belly little fella, little fella, little fella. 50-square-metre apartment Throughout Sydney. There are many of these. This one actually has no balcony, so entry-level price point. This particular property was purchased just a little over $600,000. So 5% deposit down $30,000. And where that linen closet is, that's actually, I'd say two changes yeah, gone, then what do you see?
Speaker 1:how many? How many do you see? I see.
Speaker 2:I see two as well, I see three.
Speaker 1:I. I see two and I see if you make these changes. If you spent 10 grand, that make your hundred grand yeah, okay, go.
Speaker 2:What do you say? I know, it's.
Speaker 1:But I know where this property is so I've got a bit of an advantage so I know it'll support that price. I see a wall going in on the study with the sliding door, with a cavity, sliding door yep, and I would probably even make that room a little bit longer because it gets wider as it gets longer, yep. And I see the removal of the linen press and the addition of a door there which makes it not an ensuite bathroom, which adds the value. These two changes spend 10 grand, make 100 yeah, there you go.
Speaker 2:The other nice thing there is there's actually you can see where the um, where the vanity basin is, there's plumbing there, so someone really, really clever might be able to come through and put a laundry in there on the other side, because you only need 600 mil for a laundry, 600 by 600 for a washing machine and 600 mil for a door space to get through to the bathroom. So where those double doors are, you might be able to utilise just one side of that and then have the other side for a bit of storage. Up to you. So you know there's a cosmetic change you can do or a smart change.
Speaker 2:But, also have a look at this. There are right floor plans to buy and there are wrong floor plans to buy. We've got this one coming to market two-bedroom apartment in DY. I will mention that the building itself is really, really popular, so you're already buying a great apartment. Mention that the building itself is really really popular, so you're already buying a great apartment. But the thing I like about the most here is laundry is completely original. Now I've seen some people turn these into small second toilets, like like a powder room, and include their laundry because the plumbing's there as well. Really clever bathroom now bathrooms a bathroom. Sometimes it doesn't need the full upgrade, but if you're going to do it, you might as well do it properly. Have a look at these 3d renders, so the buyer will be fortunate to be passed these on, but this is actually giving you the exact cost to then go out and do it rather than having a bit of a guessing game so I don't get your point.
Speaker 1:What are you saying?
Speaker 2:so these two changes here and then, and then um, um so there's an apartment that you got got for sale.
Speaker 1:You've shown us the original bathroom and this is the. And then what?
Speaker 2:But through the renovations and the CGI's here, we're showing you what you can actually do with it. Now I've got it. I don't have the original kitchen shot here, it's fallen off my carousel but basically we've taken an original kitchen which is 50 years old and through the computer and through having a pro look at it, they've worked out that you can basically open up the kitchen to be more open plan. So you've got a breakfast bar like this and you can shuffle the, the um, the actual bench space around. So it's it's just a huge, huge value.
Speaker 1:You okay, billy, I'm good, oh, okay. There you go. Looks like we're trying to sell a property, but we're not. We just want to show you like stuff we can do. It makes money. It makes money.
Speaker 2:Extra room, extra toilet, extra bathroom, whatever it is, it's out there, that's a shot's a shot, that's good on your bill, just go looking for it.
Speaker 1:Yeah, get them. Guys, bring us. If you need more tips, ring us help.
Speaker 2:Ya, it was cool yeah, thanks, property doc, bye Thanks.
Speaker 1:PropertyDoc. Bye-bye, have a lovely day.