AmandaBSParticipant@amandabsJoin Date: 2005Post Count: 549
My turn to brag !!
Who said you can’t make money in this market ??
We bought a 12 year old brick veneer house for $155,000 in September 2005. We spent around $10k on new paint, lights, plumbing and carpet. Six weeks later we have sold it for $239000. After costs we have earned just over $60000 for 6 weeks hard work. Not bad hey !!
AJBSnazzysmithMember@nazzysmithJoin Date: 2005Post Count: 102
Oustanding, reckon you can do it again?oziMember@oziJoin Date: 2004Post Count: 262
Thats an outstanding achievement Amanda! Congratulations!
What was the appraised/market value of the property when you purchased it? Just wondering whether most of the profits were made in the purchase or in the reno.
OziRichard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,018
Great deal Amanda Mr Carmody is going to love you too
Specialising in US & IP finance.DazzlingMember@dazzlingJoin Date: 2005Post Count: 1,150
Excellent work Amanda. Well done.
You’ll probably get 35 or 40 in your hand at the completion of the deal.
1K a day tax free is pretty good going in this market.
Did you have fun doing it and would you be able to repeat it over and over ??
I sometimes wonder if people check the previous sales figures or just buy the visual dream that you have created….Onya.AmandaBSParticipant@amandabsJoin Date: 2005Post Count: 549
Thanks guys it will feel even better when the contract settles in a couple of weeks. Yes Ozi we bought well but also fixed some problems in the reno that put most people off.
“Problem + Solution = Profit”
I don’t mind paying some tax as it means you’ve made a profit. Being an ex-accountant I know ways to minimise the tax bill.
Finding another deal like this will be hard but we’re always looking !!
AJBSbhillcoatParticipant@bhillcoatJoin Date: 2005Post Count: 2
Excellent Amanda… Good on you. Looking at doing the same sort of thing with a property in Qld that I think has the same sort of potential. Will let you know how I go.
‘It all comes down to two simple choices…Get Busy Living, or Get Busy Dying.’MauiParticipant@mauiJoin Date: 2005Post Count: 8
thats sounds fantasticwilandelMember@wilandelJoin Date: 2003Post Count: 761