Anne Marie – Glenfield, NSW

Real Estate Rescue Graduate


Background

Anne did a complete joint venture on this project with no upfront costs for herself, the owner was heading into retirement and wanted a quick sell, Anne had planned a quick renovate and flip.

The Number

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

Expenses Cost
Purchase price $ 360,000
Purchase cost $ 12,890
Renovation Costs $ 24,000
Sale Costs $18,900
Total Costs $402,825
Sale Price $465,000
Projected Profit (before interest costs) $45,675

Before and after photos from the renovations

Backyard Before

Backyard After

Living Room Before

Living Room After

Bedroom Before

Bedroom After


Top Learnings:

  • Be very clear with agent on what your offer is don’t assume that they understand your terms
  • In these times have a plan B if sale doesn’t happen work out a strategy especially (if working with money partners) on a course of action acceptable to both if a quick sale doesn’t happen.
  • Getting Pest & Asbestos inspection before you start