Karen Baldwin – Flagstaff Hill, SA
Property Development Graduate
Karen found this deal the day after setting her 5-week challenge. It was a local agent who needed to sell quickly to finalise his divorce settlement. The owner was insistent on a bottom line of $500,000. After doing the calculations, Karen made an offer the following morning at $501,000 cash unconditional. The contract was signed that afternoon and Karen was able to secure the deal. The property didn’t stack up as a renovation, so Karen decided to do a land subdivisions instead, which made her a combined profit of $45,500.
These cost include estimated cost of development and estimated profits.
|Resale (2 x $315,000)||$630,000|