Three birds renovation

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 :-(

 

This came up when I googled the address

 

1180 according to a free site

 

Sold for $1,180,000

 

Wow ! Thank you.

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

 

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

 

What was the approximate cost of the renovations? Did they say?

 

Sounds about right, lol.

 

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 $$

 

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.

 

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

 

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

 

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

Agree it is about building a profile.

 

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.

 

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.

 

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.

 

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.

 

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

 

neK, no one in their right mind would renovate for attention.