Mary Liu – 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