Graduate – Morphett Vale, SA
Real Estate Rescue Graduate
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 relevant adjustments, including the selling costs.
| Expenses | Cost |
|---|---|
| Purchase price | $225,000 |
| Renovation costs | $48,000 |
| Selling/holding costs | $22,500 |
| Total Cost | $295,500 |
| Total Net Profit | $44,500 |
Top Learnings:
- Always follow up with the real estate agents.
- Work out your maximum purchase price and go in lower to start with.
- It’s a great heads up if you are an area expert.
