Lynn Couchman – Wavell Heights, QLD

Real Estate Rescue Graduate

before
after

Background

Lynn had this property on her watch list but decided to look elsewhere due to the high prices in the area. She ended up coming back to this property and was able to arrange an inspection straight away. It was well below market price so Lynn made an offer right away, and after some negotiations, she was able to secure the property.

The Numbers

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

Expenses Cost
Purchase price $525,000
Acquisition $18,470
Professional costs $7,360
Renovation costs $57,000
Finance costs $32,000
Resale costs $23,500
Total Cost $663,330
Planned Selling Price Estimated $690k & REA estimate 750k
Projected Profit @690k – $26,670 | @$750k – $86,670

Before and after photos from the renovations

Kitchen Before

Kitchen After

Bedroom 1 Before

Bedroom 1 After

Bedroom 2 Before

Bedroom 2 After


Top Learnings:

  • Flexibility speedy decisions and trusting my instincts
  • COVID 19 has affected stock levels making it harder to negotiate
  • Using a company email when making enquiries to REA’s ensure a quick response