Entertainment & Music Channel 7 'The Aussie Property Flippers' in 2017

Discussion in 'Living Room' started by Chris Au, 15th Apr, 2017.

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  1. Chris Au

    Chris Au Well-Known Member

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    Inside 7

    I vaguely remember someone posted on on the forum asking for participants - did anyone sign up??

    Just heard that the program will air soon. Will watch the first episode to see what it's like. Interested to hear others' comments if anyone else watches!
     
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  2. ellejay

    ellejay Well-Known Member

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    I'll be fascinated to see if it's possible to make money on this in Aus with stamp duty costs to cover on top of the rest. Would need to be higher end?
     
  3. bob shovel

    bob shovel Well-Known Member

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    Yeah someone from channel 7 posted but they never responded :(

    Anyone from here sign up i wonder? ?

    You can make money flipping but you need to cut costs somewhere substantial ie builder doing work amongst other jobs or like my new favs the the birds :D get all the materials on the cheap with clever marketing then pimp out your own home to get a cheap re-build! :cool:
     
  4. bob shovel

    bob shovel Well-Known Member

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    Here's a promo
     
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  5. Coota9

    Coota9 Well-Known Member

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    Flipping of a different kind..little fellow is not impressed though

     
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  6. Perthguy

    Perthguy Well-Known Member

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    First thing you would need is a rising market. Sydney last 4 years or Melbourne last 3 years: no brainer. Brisbane or Adelaide now could be doable. Perth would be tough though.
     
  7. bob shovel

    bob shovel Well-Known Member

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    It's possible without cg imo but hard.that's where u need to be smart with materials, labour and bang for buck work
     
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  8. Chris Au

    Chris Au Well-Known Member

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    Not a lot said about the show on review sites.
    Upfronts 2017: Seven highlights -
    THE AUSSIE PROPERTY FLIPPERS
    In this brand new series from Seven Productions, we follow Aussie couples who have found a way to get rich quick. They buy homes, they renovate, they sell – all in just a few short weeks. But with big reward comes big risk. Will it be flip or flop? And what are the secrets to their success?

    Wonder if there will be any smaller regional towns. They will want the most run down places on the show. I'm guessing those that are/were in the show aren't allowed to say anything about the show/their involvement etc.
     
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  9. Gockie

    Gockie Life is good ☺️ Premium Member

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    I was going to flip something in Sydney back in 2011 for a solid gain but then decided to hold that property because of the CGT discount if I own it for at least 12 months.
     
  10. Chris Au

    Chris Au Well-Known Member

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    Yes, I would be interested in the people they get for the show. I'm sure some would be aware of the tax implications of flipping, but others not. There are quite a few groups promoting flipping as part of their approaches - Barbar, Slac-smit,result... others who I can't think of now. They possibly went to these groups as well. I dare say the boring finance side won't be included in what's aired.

    Bring on the next wave of backyard renos!
     
  11. bob shovel

    bob shovel Well-Known Member

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    Exactly. Like every other one. A val before and val after - $reno.
    No mention of ANY other costs.ever.

    I look forward to pulling the deals apart
     
  12. ellejay

    ellejay Well-Known Member

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    Yep will be interesting to calculate the net hourly return on all the effort vs picking up a night shelf stacker gig or similar for a few weeks. I suspect you could make more on flipping by flying to the US for a few weeks rather than trying it here, but I could be completely wrong.
     
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  13. MTR

    MTR Well-Known Member

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    That is one of our strategies in Atlanta market, you don't have to pay stamp duty in US but you still need to be able to buy below market value and have a good handle on market valuations and location.

    We just sold our first flip and will come back with the numbers once its closed/settled, achieved higher than what was expected, helps that the market is hot.

    In US market its all about volume if going for lower entry and rehabs/renovations.

    In Australian market my g/friend had great success in the higher end stuff $1M+, costly to hold and have a smaller pool of people to sell to, but if you get it right it can be very lucrative. We are talking about selling close to $3M, but would also include a significant extension that has to go to council, perhaps 18 month project.

    The lower end stuff, unless its a rising market I think the costs of buying and selling may kill the deal? but of course dependent on purchase price. I think probably need to be hands on and do some of the work as well to keep costs down.

    Girlfriend renovated this one, it was a dump when she purchased, need extension and renovating. I think paid around $1.05M 2005?, sold in 2008 for around $3.05M, her profit was over $1M, and then it resold in 2013 for $2.6M as the market in Perth dipped. If someone has RPData? they can confirm dates/sale price, I only have approximates, too long ago now. She continued with this strategy for a while.
    25 Almondbury Road, Mount Lawley, WA 6050 - Property Details




    MTR:)
     
    Last edited: 16th Apr, 2017
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  14. Redwing

    Redwing Well-Known Member

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  15. Perthguy

    Perthguy Well-Known Member

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    I wonder if any will be in Perth? My mate in Perth wants to become a professional property flipper. In this market.
     
  16. Pumpkin

    Pumpkin Well-Known Member

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  17. spludgey

    spludgey Well-Known Member

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    According to them, yes it will be, hundreds of thousands in just a couple of weeks!
    "Reality" TV.
     
  18. Otie

    Otie Well-Known Member

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    Hmmm. Maybe they let people thru who had held for a couple of years? Or high end 1.5m + stuff
     
  19. spludgey

    spludgey Well-Known Member

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    The person that tried to recruit on here didn't seem to worry about details much, so I don't expect those to be included in the show either.

    It'll either be another show that's all about people and not at all about property (like The Block) or a get-rich-quick show, like most of those American flipping shows.
    I've got very low hopes for this one.

    One of my favorites is "Income Property", still doesn't completely reflect reality, but it's much better than the majority.
     
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  20. Chris Au

    Chris Au Well-Known Member

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    Locked in!
    9pm? they might not be expecting it to be a high(er) rating show, later timeslot. I'll get toothpicks to keep the eyelids open....
     
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