PerthPropertyHunterParticipant@perthinvestorJoin Date: 2014Post Count: 16
Are there any Perth renovators or agents clients buying. renovating and selling straight away?
I am a solo Perth Buyer’s Agent looking at doing a JV with a money partner to buy very well, manage a fast and cosmetic renovation then put the property straight back on the market to sell – and split the profit with the money partner (or just charge a fee if the money partner wants to hold)
Would value the input of local Perth agents and renovators.
ThankyoudangParticipant@camdangJoin Date: 2016Post Count: 1
That sound fair. But odviously the interest rate would have to be higher then other safer competitive inveatments opportunity out there. Im think more then 12%. This is complicated but doable.Corey BattParticipant@cjaysaJoin Date: 2012Post Count: 1,010
Interesting to be running a flipping strategy in a downtrending market – this may allow you to get desperate sellers to accept lower offers of course.
The big risk in it all is that you’re swimming against the current and the market could drive down at a faster than expected pace – wiping out any potential profit.
Have you ever done a flip like this before? What’s your expected return, ROI etc?David HallParticipant@wiggles2Join Date: 2014Post Count: 64
Profitable straight reno flips are difficult to achieve within the Perth CBD market. Going further afield is usually more profitable. The negative is that the sales cycle is longer.
With in the Perth CBD market, I would suggest that a renovation subdivision deal is far more lucrative. I have three good properties on my watch list at the moment. Time frame however 9-12 months, but there are some things you can do to bring this down.
- This reply was modified 2 years, 11 months ago by David Hall.
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