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Three birds renovation

Discussion in 'General Property Chat' started by hillsguy, 13th Sep, 2016.

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  1. hillsguy

    hillsguy Well-Known Member

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    I know the ladies from three birds reno bought property @ 35 Sherwood St Northmead for $900K. They did an AMAZING reno on this property (you can see it on their website).

    They failed to sell at auction and then claim they sold privately.

    Anyone have access to see what the final sell price was around April / May this year ? This would help us understand what kind of profit was made from the transformation.

    I cannot see final sell price anywhere on the free sites :-(
     
    S.T likes this.
  2. Kinnon Bell

    Kinnon Bell Finance Broker

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    This came up when I googled the address

    [​IMG]
     
  3. dabbler

    dabbler Well-Known Member

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    1180 according to a free site
     
  4. Yujin

    Yujin Member

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    Sold for $1,180,000
     
  5. Leo2413

    Leo2413 Well-Known Member Premium Member

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    20160913_210600.png
     
  6. hillsguy

    hillsguy Well-Known Member

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    Wow ! Thank you.

    How on earth did they profit from this with a 900k purchase price ??? The renos were extensive !
     
  7. D.K

    D.K Active Member

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    After all reno costs, stamp duty, CGT etc
    They would of worked for about $7 hr, I was getting that 20 years ago on the milk run
    Hardly seems worth it
     
  8. Yujin

    Yujin Member

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    What was the approximate cost of the renovations? Did they say?
     
  9. Joshwaaaa

    Joshwaaaa Well-Known Member

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    Sounds about right, lol.
     
  10. vbplease

    vbplease Well-Known Member

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    I can only assume their target income stream is consulting interior design.. This reno and others which they advertise on social media is to get their name out there. I think their renos look awesome..
    Perhaps their target demographic are folks not looking to flip for big $$
     
  11. The_good_life

    The_good_life Active Member

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    Ha! They're huge on Insta and other social media, I gather a lot of the reno work was probably done on the cheap or through suppliers as they often promote said trade/furniture/etc on Insta and other social media.Agree it's more to get their name out there and then promote through tie-ups.
     
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  12. hillsguy

    hillsguy Well-Known Member

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    Must be they are chasing something else here ... the risk / reward ratio here does not make any sense ...
     
  13. neK

    neK Well-Known Member

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    Or they are bored and it's more effective to make a few bucks as opposed to spending money to waste time
     
  14. Tonibell

    Tonibell Well-Known Member

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    Also regulars on the Foxtel Real Estate show where they showcase the renos.

    Agree it is about building a profile.
     
  15. dabbler

    dabbler Well-Known Member

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    I do not know them, but it would seem they want to sell services ? in that case, they could afford to lose on a few reno jobs or break even, as they would be doing it as advertising.
     
  16. TMNT

    TMNT Well-Known Member

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    So how much was the reno??

    Im skeptical about people who show the glamour of renovating (which is not much) and cant even produce results that are most important

    Give me a huge chunk of money and i can polish a turd.
     
  17. MTR

    MTR Well-Known Member Premium Member

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    There is another thread on this. I don't think the numbers have been brilliant from what I recall. I cant be bothered finding the thread.

    Sometimes in a booming market like Sydney it may have been wiser to hold off selling than make your money renovating?
    I think they may have got the timing wrong with this property, that is why very lean

    Selling and buying costs are a killer. That's why I am not a fan of renovating, too much work for little gain.

    As someone mentioned this group is selling other services. I am sure some will follow them, seems you don't need to have a track record these days.
     
  18. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Their reno's do look beautiful - I think they're probably more about marketing their design and interiors than they are about selling for a profit.
     
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  19. neK

    neK Well-Known Member

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    Or they just love the attention. Aren't their partners footy players or something?
     
  20. MTR

    MTR Well-Known Member Premium Member

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    neK, no one in their right mind would renovate for attention.
     
    Last edited: 14th Sep, 2016
    Dean Collins likes this.