Flipping thread

Discussion in 'What to buy' started by ATANG, 26th Apr, 2018.

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  1. hematite

    hematite Well-Known Member

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    If the reno was ~$300k, then I wouldn't have bothered with the flip. Stamp duty, tax, agent fees will all eat into that ~$137k they made.
     
    hematite, 29th Apr, 2018
    #21
  2. housechopper2

    housechopper2 Well-Known Member

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    Yea I don't think it cost them that much as they are builders and would have done a significant amount themselves - more like the $180k others are quoting.
     
    housechopper2, 29th Apr, 2018
    #22
  3. hieund85

    hieund85 Well-Known Member

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    And CGT with no discount. I think the reno does not cost more than $150k. Upon looking at the original house layout, I guess there is no extension done although it transformed from 2x1x1 to 3x2x2 (still single garage but they count the off the street parking to be the 2nd I guess).
     
    hieund85, 29th Apr, 2018
    #23
  4. MTR

    MTR Well-Known Member

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    Funny thing is when markets are booming there is really on point flipping, you make more money holding a little longer and do what we call a slow flip
     
    MTR, 30th Apr, 2018
    #24
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  5. melbournian

    melbournian Well-Known Member

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    this is another one

    42/88 Southbank Boulevard, Southbank, Vic 3006 - Property Details

    upload_2018-4-30_10-48-53.png

    End of the day ppl make coin anywhere - doesn't necessarily need to be in a boom time. anything can change (and no one can predict sudden changes).
    Did it before during the worst years in the worst product in melbourne (apartments in CBD and fringe)
     
    melbournian, 30th Apr, 2018
    #25
  6. MTR

    MTR Well-Known Member

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    Is this a flip
    Pretty much growth from the boom cycle.
    Be interesting to do comps in 6 months time.
     
    MTR, 30th Apr, 2018
    #26
  7. melbournian

    melbournian Well-Known Member

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    i believe this was intended flip that took a long time to sell but still did- if you look at the previous photos of it (quite some serious renovation). it was a 2 converted to 3 bedroom.

    there is no boom in apartments esp not southbank. i know this very building well - i once held the record for highest sold apartment in the building.
     
    melbournian, 30th Apr, 2018
    #27
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  8. MTR

    MTR Well-Known Member

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    That is great when you can convert a 2 bedder into a 3 bedder. I am just doing this now, increasing rent significantly and growth.

    MTR:)
     
    MTR, 30th Apr, 2018
    #28
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  9. melbournian

    melbournian Well-Known Member

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    i used to do this a lot a going few years back - taking down all the walls, adding bathrooms and bedrooms to apartments in CBD melbourne. though i think it is a bit too much work nowadays have to work smarter.
     
    melbournian, 30th Apr, 2018
    #29
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  10. MrFox

    MrFox Well-Known Member

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    3 of them sold around $530,000 each. The last one is still on the market. This one is a freebie for the vendor.
     
    MrFox, 30th Apr, 2018
    #30
  11. ATANG

    ATANG Well-Known Member

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    I guess anything hold less than 24 months is a flip? Or not...?
     
    ATANG, 30th Apr, 2018
    #31
  12. MTR

    MTR Well-Known Member

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    I guess Flip after reno is completed, vacant, not rented.... sell, shiney and new
     
    MTR, 30th Apr, 2018
    #32
  13. ATANG

    ATANG Well-Known Member

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    ;)
     
    ATANG, 30th Apr, 2018
    #33
  14. JRJ

    JRJ Member

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    JRJ, 1st May, 2018
    #34
  15. Codie

    Codie Well-Known Member

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    Codie, 1st May, 2018
    #35
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  16. JRJ

    JRJ Member

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    JRJ, 3rd May, 2018
    #36
  17. goodtimes

    goodtimes Well-Known Member

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    goodtimes, 5th May, 2018
    #37
  18. SOP

    SOP Active Member

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    SOP, 7th May, 2018
    #38
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  19. Greyghost

    Greyghost Well-Known Member

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    We just picked up a house in Ashgrove QLD for well under median. It's going to be a flip.
    Will post something when it's done.
     
    Greyghost, 8th May, 2018
    #39
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  20. Brady

    Brady Well-Known Member

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    Brady, 9th May, 2018
    #40
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