Anare – 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!
