About the Client: A very busy medical practitioner who has no time nor expertise in property development. Has a lot of equity to invest in brick and mortar using the services of a property consultant.
- Location: NSW- 50km from Liverpool CBD
- Land Size: 1500m2
- Strategy: Renovation of the existing house, subdivision into 3 Lots and sell the existing house and the 2 blocks of land.
Let’s talk numbers
- Asking price: $490K
- Negotiated Price: $485K
- Client saved: $5K
- Cost of renovations, Acquisition, and the land subdivision: $200K
- Sale of the renovated house on a smaller block of 500m2: $400
- Sale of each land Lot: $300K X 2 = $600K
- Total realized profit before all expenses: $315K in 8 months.