Guess capital gain on this property bought 6 months ago - central coast

Discussion in 'Investment Strategy' started by freddy, 5th Apr, 2018.

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  1. freddy

    freddy Well-Known Member

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    freddy, 5th Apr, 2018
    #1
  2. Illusivedreams

    Illusivedreams Well-Known Member

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    Property 2
    $577,000
    Stamp duty $23,000 approximately
    Renovation $90,000-$100,000
    Is all in $700,000

    If they can sell for $765,000
    - Agency costs and legals

    They will end up with $50-60,000 profit.

    Im just thinking.
     
    Illusivedreams, 7th Apr, 2018
    #2
  3. freddy

    freddy Well-Known Member

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    Maybe it’s the same investor who renovated both as both have skylights in the reno and similar beach style improvements. It would be wiser to revalue these instead if allowable. Also there’s loss of rent 6 months during the renovation period.
     
    freddy, 7th Apr, 2018
    #3
  4. whacky

    whacky Active Member

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    Going by the data that is coming through, the vendors should consider themselves extremely lucky if they actual achieve that price.
     
    whacky, 8th Apr, 2018
    #4
  5. freddy

    freddy Well-Known Member

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    I think first property will do well. Bateau Bay is a good suburb in Central Coast as close to beach - 4 bedrooms sell well.
     
    freddy, 8th Apr, 2018
    #5