Home' API Magazine : November 2014 Contents 22 n APIMAGAZINE.COM.AU n NOVEMBER 2014
nKING OF RENOVATING
He’s one half of the successful and popular
duo ‘the Reno Kings’. With more than 20
years in property renovation, Paul Eslick
has built up a multimillion-dollar portfolio
through locating and purchasing the right
property, adding value through renovation
and doing it all over again, all while exuding
a genuine passion for all things real estate.
When it comes to adding value, Eslick has
a clear guide on what kind of return you
should see on your money spent.
“For every dollar I spend I like to make four
dollars back for it,” he says.
“So if I spend $10,000 on a kitchen I’d
expect that property to be worth (about)
nKITCHENS UNDER $1000
Eslick’s first tip is that it’s all about ‘the bones’
of the kitchen. This is the kitchen frame the
benchtop sits on, the drawers slide into and
the doors swing out from.
“When you’re looking at a kitchen ask, ‘is
the carcass ok?’” he says. “Now if this is okay,
I wonder why so many newbie renovators
look at the dated kitchen and then rip it
out. If you bought a pink house, would you
demolish it? Or would you paint it?”
You’ve got a few options up your sleeve if
the carcass is in good condition, Eslick says.
He swears by laminate paint.
“I’m talking about doing a great renovation
under $1000 if you wanted to,” he says.
“It’s a fantastic product. You can dolly up
the kitchen by just painting the outside of
But there’s only one colour you can paint a
kitchen and that’s white, he adds.
“It makes it BBC – bigger, brighter
nESLICK’S MONEY SAVING TIPS
f Old dated splashbacks. He says the easiest
thing to do is purchase tile paint. To ensure
you have a professional-looking finish,
make sure you follow the instructions.
Clean the surface well. and use the
right primer. “If you do it properly, you
won’t have horror stories,” he says.
f Don’t buy a cheap paintbrush because
you’ll see all the brush hairs in your
finished paint job. Get a quality brush.
Eslick likes the cutaway brush. Its bristles
end on an angle, and these brushes are
fantastic to finish the job.
f Door furnishings. You’ll be surprised what
a difference new door handles will make.
f Get a marine-grade stainless steel polish,
Eslick says. The sink will sparkle after a
f New tapware. Eslick says these are as
“cheap as chips” to replace.
f Never underestimate the impact of
lighting. “Make sure you’ve got lots of
light in the kitchen. Ensure your kitchen
is bright,” he says. “I hate lots of spotlights
in kitchens because it costs so much to put
a light fitting up there.” Eslick prefers to
use fluro lighting instead, either circular or
And if painting isn’t going to work for the
doors you can always replace them.
“You can go and get doors made up to fit
the exact size of your kitchen for a really
reasonable price from any cabinet maker,”
he says. “If you go online there will be doors
of all different sizes and many times already
pre-hinged, so you’re going to save yourself a
lot of time and effort.”
The best types of hinges to buy are named
after a very nice car, he adds.
“Ferrari, (yes, Ferrari like the car) makes it
in Italy. I owned about 50 Ferraris once,” he
says with a laugh.
Eslick isn’t a fan of granite benchtops,
especially when it comes to rental properties.
“Don’t forget, granite and tenants are a bad
combo,” he says.
While many are sourcing granite offcuts
online for a lower price tag, Eslick believes
It’s no surprise Mark and Leanne Beacom
are beaming. They purchased a fixer-
upper in Beecroft, Sydney, last January for
$895,000. Just four months later, they
flipped the property for a cool $1.306 million.
With a tired and dated kitchen they knew
this room was the number one priority
needing a revamp.
“This was the first kitchen we did from
scratch,” Leanne says.
“We had a great builder and great cabinet
maker that guided us. We also sourced
about 12 quotes for the job, from which we
were able to determine what would work and
They managed to pull off the kitchen plus
laundry renovations for a total of $10,500.
But like most renovations, keeping it
under budget was a process described
“The reason we sought so many quotes
was to try to do the job as cost effectively
as possible,” Leanne says.
“I did Cherie’s course. I sourced tiles from
the recommended discount tile supplier.
“Once we engaged the cabinet maker,
we knew what was left over in the budget
for tiles, appliances etc. We needed a high-
end kitchen at a budget price, which I think
The kitchen took about three to four
weeks, from the demolition to
Purchase price – January 2014
Total renovation budget
Sale price – May 2014
Assigned kitchen and laundry budget
Finished kitchen renovation
estimated added value
Beecroft kitchen before renovation
Beecroft kitchen after renovation
“We kept it simple,
neutral. Our trades
worked with us to help
us keep within budget
as best as we could.”
Although the kitchen was only one part
of the renovation, Leanne says the whole
home needed a complete makeover and
they focused on key areas to really give
them the edge.
“Definitely kitchen and bathrooms, as
they’re the big-ticket items,” she says.
“We were mindful of keeping them as
neutral as possible so that they would
appeal to most buyers.
“Having looked at our numbers, the
$10,500 spend on the kitchen yielded in
excess of $45,000 return,” Mark adds.
Not bad for four months’ work.
HOW TO n Renovate a Kitchen Under $10,000
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