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
