Anyone watch Aussie Property Flippers last night?

The unrenovated one is better because it is on the right of way.

 

It didn't seem like easy money to me. Both teams made a lot of mistakes. One concern I had was that the apartment team didn't seem to get any kind of council approval for the second bathroom and it didn't appear to be built to code, although I am not a building surveyor so I can't definitively state that it wasn't.

 

Same list price won't necessarily translate to the same sale price. It will be interesting to see which one goes for more. Probably the unrenovated.

 

I think this is pretty similar to one of Dominique Grubisa techniques, I think there is an option contract involved also..

 

Chris and Kath, the older couple, are graduates from Cherie Barbers Reno course.

 

The whole time I was wondering if the younger couple were too. I noticed all the Cherie hallmarks- high gloss, paint, floating floors etc

 

Kath is a budget killer. I can see why Chris gets cranky with her.

I like Chris and Amanda's style.

I would love to do this with my wife. She isn't keen on taking the risk like I am. I have a mate that wants to possibly do this with me so I might have a crack at it with him.

 

I wasn't sure about that Frankston South flip. Is that the right area for that type of property? It seemed like a lot of work and stress for $30k before taxes.

 

I wish I were a chippy, so I could do it full time. The room for profit margin would be so good, since you can add some serious value knocking down walls, adding rooms for the cost of the materials and your time. Adding the reno under your own builder's license rather than paying another builder would keep costs down too..

I don't know how people make a profit on the cheaper houses if you're paying a builder to do it under his license.

If your partner is an interior designer, that would be a killer combination.

 

My wife isnt an interior designer but she has a good eye for design. And she likes to spend money lol.

 

Haha it wasn't 12 weeks either! I googled the address on the auction board- purchased Feb 2016, sold in September!! 13k at least in holding costs alone!!

 

Ouch!

 

I thought the same thing. $30,000 gross profit for two people for 10 weeks of hard work and this is the EBIT.

I am not going to give up my pension to take on all that risk to earn such **** money.

 

I can

I can't believe they quit their jobs for such s$it money...atleast keep your day job for when you run out of money so you have backup cash to live on..

 

I got in late with the show but there was a couple who made 130k net in 6 weeks? That is ok in my books??

Beats going to work 9 to 5 and remember the more you do it chances are you will get better at it and move on to bigger and better things as cashflow increases, experience and confidence

 

@MTR the older couple seem to do alright, that was the second week they were on the show.

 

Right, also curious it was Sydney? And I wonder the year? They had lots of buyers I presume boom time

 

Sydney north west I believe... Only a couple of months ago... Strong market.

 

What do think would they make more money today ?though they achieved highest sales price for this area at this time

 

Castle Hill. - They even mentioned (very briefly) "stamp duty and agent fees" in tonights epiosde. (Shock Horror!) But i do wonder if they have calculated all costs. It was meant to be 4 week reno, took 9 weeks I think - plus settlement, on ~$1m - the interest cost is going to add a bit more (or lost interest if they are using cash) - But maybe those extra weeks, the propery went up an extra $50k - it is the Sydney market after all...