Graduate – Greensborough, VIC

Real Estate Rescue Graduate


Background

The property was found through an agent, it was up for auction, but it didn’t get won. After settling on the property eventually due to the time constrains from another potential buyer that wasn’t able to secure the property, luckily the DGI graduates were ready to pull the trigger and settle on the land on notice. The property was found through an agent.

The Number

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

Expenses Cost
Purchase Price $485,000
Stamp duty $27,924
Conveyancing (Purchase) $1,050
Interest on ANZ loan $20,000
Renovation cost $78,281
Agent fees incl advertising $18,750
Conveyancing (sale) $950
Total Cost $631,955
Sale Price $715,000
Profit $83,044

Before and after photos from the renovations

Bathroom before

Bathroom After

Kitchen before

Kitchen After

Top learnings from this deal

  • Utilising more trades instead of doing things by yourself to get a faster turnover
  • Taking ideas from other people

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