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.

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