Graduate – Aldinga Beach, 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 $260,000
Renovation costs $30,000
Selling costs $18,000
Total Cost $308,000
Estimated Net Profit $30,000 – 40,000

Before and after photos from the renovations

Living Room
Kitchen

Michael top 3 learning from this real estate flipping house deal was:

  • Ensure you have a network of agents.
  • Chase up these agents regularly (weekly).
  • Do something (nice) to ensure the agent remembers you.

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