Anare Koliavu – Craigieburn, VIC
Real Estate Rescue Graduate
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.
These costs include the purchase price, stamp duty, holdings, renovations and relevant adjustments, including the selling costs.
|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)|
Before and after photos from the renovations
Living room before
Living room after
- 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!