Real Estate Flipping Case Study: Beldon WA
My 3 top learnings from this real estate flipping house deal are:
- Exercise Patience with the Intermediary and the Bank.
- Discuss with Council if DA is required for the structural alteration or BA only. If using a Private Certifier who has certified the plans do not wait for plans to come out of council – go straight ahead and commence building save yourself 14 days on the time frame.
- Pick your reseller carefully – make sure they have a game plan.
House Flipping Profit Margin
|Total expenses (renovation, arrears, council rates etc)||$125,000|
|Mortgage registration fee||$168.70|
|Selling costs and agent’s commission||$9,750|
|Advertising and marketing||$1,000|
|Legal fees out||$1,100|
After Capital gains tax the house flipping profit margin will be approximately $78,000 in profit