Lisa & Vince – Doncaster VIC
Real Estate Rescue Graduate
The property is a deceased estate which had only one beneficiary. This Doncaster deal was found through a Real Estate Agent that went on for auction. The graduates had initially bid on it; however, the owner decided not to go ahead with it. Three to four weeks later the owner came back, and after a hard negotiation, the Graduates was able to obtain the property at the price they were after well below market value just for the land ($180,000) discount. The property strategy is for a renovate & flip dedicated to a higher-end market.
These costs include the purchase price, stamp duty, holdings, renovations and relevant adjustments, including the selling costs.
Top 3 Learnings:
- Get contract looked over by conveyancing agent
- Never give up looking as the right deal could be the next one that comes along. We looked at over 120 properties before buying this one.
- Build good relationship with agents and know your area