Buy PPOR renovate sell repeat

Discussion in 'Renovation & Home Improvement' started by Johnny Cashflow, 7th Jun, 2017.

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  1. Jacque

    Jacque Jacque Parker Premium Member

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    Our friends have been doing this for years and are very skilled at renovating/rebuilding and on selling for tidy profits. Mind you, during the last decade here in Sydney the rising market has obviously assisted in creating instant equity, never mind tarting up a place with various styling and fancy finishes :)
     
    Jacque, 8th Jun, 2017
    #21
  2. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    Would have to be in the eastern suburbs of adelaide hey?
     
    Johnny Cashflow, 8th Jun, 2017
    #22
  3. hammer

    hammer Well-Known Member

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    I Absolutely LOVE the sound of this strategy. Seems a wonderfully low risk way to go about things....I.e if the market tanks....you get to keep our house. No worries.

    However doing major renos at the moment and it SUCKS!!! Dunno if I could put up with it on a permanent basis. Any profits made might get chewed up in shrink fees.....
     
    hammer, 8th Jun, 2017
    #23
  4. See Change

    See Change Well-Known Member

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    Lots of people do this on the north shore . Second income etc .

    I've never heard of anyone being taxed in tha situation , but most of these people aren't doing every year . Every 2-4 years .

    While in theory , if it's done as a " business " , technically it should be taxed , Has anyone heard of anyone being taxed in this situation.

    If you did it every year , I'd be looking over my shoulder .

    The down side is the transaction costs

    Cliff
     
    See Change, 8th Jun, 2017
    #24
    Cia and Brady like this.
  5. Brady

    Brady Well-Known Member

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    Nope Ingle Farm > Gulfview Heights > Wynn Vale

    From memory was around
    Ingle Farm ~$220k > $320k
    Gulfview Heights ~$270k > $375k
    Wynn Vale ~$330k > $475k
     
    Brady, 9th Jun, 2017
    #25
    Cia likes this.
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