Mary – Cranbourne, VIC
Real Estate Rescue Graduate
Background
Mary found this property through letter writing. The owner saw Mary’s letter and decided to get in touch. The family was in a very bad financial situation and were desperate for help. Mary really took her time to get to know their situation, and was able to help them out of a tough position in the end.
The Numbers
These costs include the purchase price, stamp duty, holdings, renovations and relevant adjustments, including the selling costs.
| Expenses | Cost |
|---|---|
| Mortgage | $250,000 |
| Arrears | $50,000 |
| Payment to owner/terms of deal | $100,000 |
| Reno costs: | $30,000 |
| Agent fees | $12,000 |
| Total Cost | $442,000 |
| Sale price | $510,000 |
| Total Profit | $68,000 |
Before and after photos from the renovations
Bathroom Before
Bathroom After
Living room before
Living room after
Bedroom Before
Bedroom After
Top Learnings:
- Acting quickly and decisively
- Being proactive
- Listen to the home owner objective
