Say this slowly along with us: "One Hundred and Nineteen Thousand Dollars Profit".
Did that sink in?
It is off a $408,695 (excl) purchase, in Auckland, and completed and sold this month by one of our tribe. We wonder how many of these do we need to post to make the 'you can't do that any more' people start to get curious?
Anyway, check out the photos of the transformation! And since we know you're all numbers-weirdos like we are, here are the ins and outs:
Purchase Price: $408,695 (excl GST) Renovation: $74,000 (excl) Holding costs: $9600 Agent fee: $18,100 (excl)
Profit after GST: $119,170 (pre-tax)
The reno took slightly longer than normal, nearly six weeks, but the photos tell the story. Four weeks from going to market to unconditional sale with some spirited negotiation.
A lot of people are on 'pause' at the moment, but the deals keep coming.
Seriously, how many deals like this would it take to make a real difference?