we just got a $150k house. literally just got it, the contract is through but not yet settlement date. and apparently there is someone who is very very disappointed that they missed the house.
we were originally gonna keep the house for 5 years, but now am considering maybe flipping for this purchaser if they have an acceptable offer.
we havent even heard how much the valuation for the property came back at yet, but the house was only listed for 4 weeks. the owner was desperate to sell. had it on the market for $180k for 2 weeks only, then dropped it to $160k cos they needed it sold straight away. then i scooped it up for $150k.
if u bought a house for $150k, and without renos just sold it again, what price would u be happy to sell it for? how much profit?
thanks
Karen
oh dont worry – the real estate agent was feeling it out for me and they said they would only be interested in $160k, and that isnt worth my while.
so ignore this thread! haha
With additional stamp duty and costs plus GCT at your end you would need at least 20k mark up to break even so probably good it didnt go ahead.
Richard Taylor | Australia's leading private lender
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