20% returns in 6 months
Feb 2018: Client came to us wanting to do a reno-sell flipping project. We bought this 2 bedroom flipper at $412,000. $7,000 below asking price. Something which is unheard of in that part of sought-after Melbourne suburb.
As we were aiming for the mid-top end of the market, quality fittings were used in the bath, kitchen and interior were updated and modernised with the money saved.
Aug 2018: Renovation was completed and it was re-valued at $495,000. An increase of 20% in 6 months! The equity was extracted, property leased out, and the client went on to buy a second investment property. Great "chunk deal" success.
The client was in constant touch with our property consultants from Concierge Buyers Advocates, who provided valuable insights into the types of properties buyers are looking for, in the area.
Comments