I recently advised a client who had just finished a massive renovation project in Gawler South. When they started, it was a wreck. Peeling paint. Weeds were everywhere. Others looked and ran away. They saw work. My clients saw potential. They knew that property for sale gawler is solid. Beneath the grime, was value. They purchased it for a bargain price. The work began.
Flipping houses is hard. Reality TV lies. It involves dirt. It is late nights. Costs go up. But when done right, it is the fastest way to manufacture equity in property. You force the value up. You don't rely on growth. You make it happen. This case study is proof what you can do locally.
I helped them from the start. Not with a hammer, with strategy. "Don't spend money there," I advised. "Update that," I said. Spending wisely is the secret to making money. Spending foolishly means you lose. You must understand what adds value in Gawler. That is my value.
The Ugly Duckling On The Street
It was dated. It was smelly. The kitchen was orange. The tiles were retro. It was the eyesore in the neighbourhood. That is the golden rule: purchase the dump in the best location. The street appeal pulls the price up. You can fix a house; you can't move land.
They bought it for low $400s. Finished properties next door were selling for $650,000+. The gap was there. It required effort. Massive effort. Roof leaks. It was deep. They did due diligence. The bones were good. So they proceeded.
Most buyers are lazy. They want finished. They pay extra for a done house. If you can to renovate, you get that money. The market pays you for the inconvenience. That is the game. Fix and flip.
Crunching The Numbers Before Starting
The limit was sixty thousand. It is tight for a whole house. They had to DIY. They ripped out carpets personally. That saved $5,000. They painted themselves. Labour is dear. Sweat equity keeps cash in pocket.
They invested in the wet areas. Kitchens and bathrooms sell houses. They put in a new IKEA kitchen with stone benchtops. It seemed luxe on a budget. Fixed the shower using modern grey tiles. They polished the floorboards. Hidden away were hardwood boards. Sanding and sealing transformed the house.
No structural changes. Engineering is pricey. Used existing layout. This is smart flipping. Visual changes make the most money. Rendering the front adds street appeal inexpensively. Building on costs tens of thousands. Don't overcomplicate.
The Hard Work Of Renovation
For 8 weeks, they never stopped. Locals noticed the skip bins. It started to shine. The dark facade became modern. The weeds became a lawn. New grass changed the feel. The front matters. It gets buyers through the door.
Indoors, it opened up. Neutral tones reflect light. Stay neutral for resale. The goal is everyone. Blank canvas allows them to picture living there. The wood added warmth. It was stunning inside an old shell.
I dropped in often. I offered tips. "Update lighting," I said. Bad lighting is awful. They put in downlights. It was bright. Time to sell. Total spend: $58,000. Duration: 2 months.
Showcasing The New Look
We launched the campaign. We hired furniture. Empty is cold. Staging adds emotion. The investment was small, it looked like a magazine. The photos stopped the scroll. Rental investors looked at it it was low maintenance. But home buyers loved it most.
We wrote: "The Hard Work Is Done." People want that. The first open inspection was packed. Hundreds of people. Neighbours came to look at the renovation. Real bidders were fighting for it. They wanted it.
We received multiple offers by Monday. People loved it. "I love the kitchen." They forgot the past. They only saw the lifestyle. Renovation works.
The Final Auction Result
We closed the deal in the mid $600s. Check the numbers. Purchase: $420k. Renovation: $58k. Stamp duty and costs: $25k. Break even: $500k. Result: $635k. Clear profit: Over $130,000. In two months. Great wages. That is why people flip.
Not every flip works. Overpaying initially destroys the margin. Over-capitalizing eats the profit. But if you buy right and control costs, profit follows. In Evanston, the gap exists. You just need to find the ugly house.
To find a fixer-upper, tell me. I list the wrecks. I can tell you if it works. Get advice. I love these projects. Start your journey. Contact me.
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