Ilse Wolfe joins us on Cheques and Balances to chat about how to find cashflow in property investments.
Getting to Know Ilse Wolfe and Opes Accelerate
Ilse Wolfe is a property investment expert. She’s at the heart of a group called Opes Accelerate. Her main job? Helping people like you grow your money through smart property investments. She focuses on active investing, mainly through property renovations and the BRRRR strategy.
Typical Mistakes by Property Investors
According to Ilse, there are two big mistakes that property investors often make. The first is buying a property but not making any renovations. She warns that the old way of buying a property and just hoping for the best is no longer a good idea. The second mistake is starting renovations without knowing what it’ll all cost in the end. This can leave investors unsure about whether they should have started the renovation at all.
How Opes Accelerate Helps You Avoid These Mistakes
So, how do you steer clear of these mistakes? Ilse and her team at Opes Accelerate have a plan. Before you buy a property, they help you figure out all the important details, like:
- How many extra bedrooms or bathrooms can we add?
- How much rent could we charge after these changes?
- How much will the renovation cost?
- What’s the property’s likely worth after the renovation?
By answering these questions, they can predict the property’s cashflow and the money you’ll make after renovations, even before you buy the property.
Key Ways to Boost Cashflow
Ilse uses six main strategies, or ‘cashflow hacking principles’, to help investors. The most important? Finding a way to add an extra bedroom. This isn’t always easy, but Ilse’s trained eye can spot possibilities that others might miss.
Finding cashflow in property investments can seem tough. But with experts like Ilse Wolfe to guide you, it’s not as hard as you might think. Just remember her advice: avoid common mistakes and use tried-and-tested strategies. That way, you can start seeing the cashflow you want.
