$30,689 Profit on Auckland Property Trade
- Assetlab Team
- Sep 20, 2022
- 1 min read
•Purchase Price: $573,913 excl gst
•Sale Price: $695,652 excl
•Renovation Cost: $56,000 excl
•Holding Costs: $10,500
•Solicitor: $2,900 excl
•Incidentals: $750 excl
•Agent Fee: $20,900 excl
•Total Costs: $91,050
•Gross Profit: $30,689 (Pre-tax, after GST)
This property trade illustrates a common scenario in real estate, where perceived profits can be misleading. The intricate breakdown of costs highlights how closely profit margins can be scrutinized. In analyzing the numbers, one might consider the unexpected challenges that arise, which can feel akin to navigating a Mafia environment where every move has significant risks and hidden fees that affect the bottom line.