Graduate – Morphett Vale, 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 $225,000
Renovation costs $48,000
Selling/holding costs $22,500
Total Cost $295,500
Total Net Profit $44,500

Top 3 learning from this real estate flipping house deal was:

  • Always follow up with the real estate agents.
  • Work out your maximum purchase price and go in lower to start with.
  • It’s a great heads up if you are an area expert.

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