Mary Liu – Geelong, VIC
Real Estate Rescue Graduate


Background
Through a takeover deal, Mary was able to help an elderly couple from a mortgagee situation with the bank nearly repossessing there home. Mary was able to work with the couple and help take the pain and stress away to create a WINWIN outcome.
The couple did not expect to walk away from this deal with any equity however ended up with a payment of $60,000.
The Number
These costs include the purchase price, stamp duty, holdings, renovations and relevant adjustments, including the selling costs.
Expenses | Cost |
---|---|
Mortgage to bank (capitalising arrears): | $190,000 |
Payment to owner: | $60,000 |
Bills, rates and Other Payments: | $20,000 |
Cost of Purchase: | $270,000 |
Renovation Cost | $30,000 |
Total Cost | $300,000 |
Sold for | $400,000 |
Total Net Profit | $100,000 |
Before and after photos from the renovations

Kitchen Before

Kitchen After

Living room before

Living room after

Bedroom Before

Bedroom After
Top 3 Learnings From This Deal:
- Acting quickly and decisively
- Being proactive
- Listen to the home owner objective