Anare Koliavu – Craigieburn, VIC

Real Estate Rescue Graduate


Background

Anare found this deal through the court listings. The owners were experiencing a lot of stress with this property. Anare used rapport building to establish trust with the owners and was able to secure the deal. The property was quite dirty and needed a lot of cleaning up. Anare decided to do some cosmetic upgrades and also added 1 additional bedroom to turn the property into a 3 bedroom house. He was able to flip this property for a profit.

The Number

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

Expenses Cost
Reno costs (cosmetic): $34,000
Selling Fee + Styling $14,000
Mortgage + Costs Payout: $263,000
Payout to owner $38,000
Return to money partners: $26,000 (4 months)
Sale Price $444,000
Profit $80,000

Before and after photos from the renovations

Backyard Before

Backyard After

Kitchen before

Kitchen After

Bedroom Before

Bedroom After

Living room before

Living room after


Top Learnings:

  • Deals can go pretty smooth (legal side and paperwork, easiest one done)
  • Smokers in a home need extra painting and cleaning
  • People can be overly fond of their pets
  • This is probably the cleanest cut deal I have had with dealing with the owners and probably the worst house to renovate. Its amazing what a simple renovation can do!