RER Graduate
Upper Ferntree Gully, VIC
Background
This RER Graduate purchased a mortgagee in possession which had the agent selling on behalf of the mortgagee.
The Number
These costs include the purchase price, stamp duty, holdings, renovations and the relevant adjustments including the selling costs.
| Expenses | Cost |
|---|---|
| Purchase price | $585,000 |
| Renovation costs | $47,820 |
| Holding costs | $14,200 |
| Buying costs | $30,900 |
| Selling costs | $20,680 |
| Total Cost | $ 698,600 |
| Total Net Profit | $26,400 |
Before and after photos from the renovations
Bathroom
Kitchen
Bedroom
Top 3 learning from this real estate flipping house deal was:
- Make sure that you allocate time to keep working on finding your next deal.
- Work on building a really strong team around you that you can take to each reno in the future.
- Commit to being tenacious! It is the commitment that will keep you going when things don’t go to plan.
