$32,000 profit on first ever Auckland property trade/flip ($385,000 purchase!)
Updated: Oct 10, 2019
$32,000 Gross Profit on a $385,000 purchase (yes, in Auckland, and yes...Three bedrooms in a decent area).
Are you a numbers person or a pictures person?
Well, here's both.
Disclaimer: Nothing is this article is meant to constitute financial advice of any kind, and is the opinion of the author only. Seek professional advice before making any financial decision.
Check out the awesome transformation in the photos for this trade in Manurewa.
First, check out the numbers (all numbers GST exclusive):
Purchase Price: $334,783 ($385,000 incl GST) Sale Price: $434,783 ($500,000 incl GST)
Renovation Costs: $33,000 Holding Costs: $10,500 Solicitor Costs (x 2 total): $3500 Rates, Insurance, Other: $1000 Agent Fee: $20,000
Total Costs: $68,000
Profit (after GST is paid but before tax is paid): $32,000
Not bad for a first-time trade aye!
When you are ready, here’s how we can help you succeed:
1) Join our Facebook page for free training, updates, and chat.
2) Join us at an upcoming course or workshop. Subscribe to stay in the loop or check out our homepage: Events on our Homepage.
3) Get in touch for a chat about how we can help you with our selection of programs and coaching options.
4) Check out the incredible value in the Assetlab Masterclass HERE