Keith and Terri Greenough – Urraween, QLD

Real Estate Rescue Graduate


The Background

Keith and Terri found this property through their contacts on the ground. They had 48 hours notice to find funding for the mortgagee auction. Keith and Terri did the auction via phone and was able to secure the property with a significant discount from the market price.

The Number

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

Expense Cost
Purchase price $175,000 (Discount estimate – $165,000)
Reno Cost $80,000
Sale Price $370,000
Projected Profit $96,000

Renovations

Before

Current Renovation


Top Learnings:

  • Importance of connections and networks including DGI/coach support, existing real estate connections.
  • Value of working with family and friends as money and property partners.
  • Value of working with our Self-Managed Super Fund to purchase – we also avoided losing money in shift to property over shares in current market conditions.
Anne Marie & Stuart Rayner – Mount Pritchard, NSW