Julie Sherden – Katoomba, NSW
Property Development Graduate
Julie found this distressed property after it had been on the market for over 500 days. She was able to secure it for $85k below market value. The property is a 1930’s house in a popular tourist spot in the Blue Mountains. Julie plans to add a granny flat and lists it on Airbnb for a potential yearly cash flow of up to $90k.
These cost include estimated cost of development and estimated profits.
|Granny flat costs||$90,000|
|Projected final value||$830,000 | estimated profit $169k|
|Profit||Rental income p.a. $90k|