RER Elite Mentoring Graduate

Cranbourne, VIC


Background

Through a takeover deal this DGI graduate was able to help this family out by taking the stress out from their mortgagee situation through a takeover deal of which took six months (start to sale). By sitting down with the family and negotiating terms a WIN/WIN outcome was achieved with the home owner walking away with $100,000 as well.

The Number

These cost include the purchase price, stamp duty, holdings, renovations and the relevant adjustments including the selling costs.

Expenses Cost
Mortgage to bank (capitalising arrears): $250,000
Arrears $60,000
Payment to owner/terms of deal $100,000
Reno costs: $30,000
Agent fees $12,000
Total Cost $442,000
Sale price $510,000
Total Profit $68,000

Before and after photos from the renovations

Bathroom Before

Bathroom After

Living room before

Living room after

Bedroom Before

Bedroom After

Top 3 Learnings From This Deal:

  • Acting quickly and decisively
  • Being proactive
  • Listen to the home owner objective

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