I sat with a seller who had just finished a massive renovation project in Gawler South. When they started, it was a wreck. Peeling paint. Weeds were everywhere. People inspected it and walked straight out. They saw stress. This couple saw potential. that local real estate is solid. They knew that under the dirt, was a beautiful home. So they bought it at a low entry point. And they got to work.
It is tough work. Unlike The Block. There is mess. Long weekends. Money runs out. If you are smart, it is a proven method to make money in the market. You create value. You don't hope. You make it happen. This example is proof what you can do in the gawler real estate market.
I helped them from the start. Not with a hammer, with strategy. "Don't spend money there," I advised. "Update that," I recommended. Knowing where to spend is the key to making money. If you over-capitalize kills the deal. You must understand what buyers want locally. That is my value.
The Ugly Duckling On The Street
The property was sad. It smelled of old cigarettes. It had an old stove. The bathroom had pink tiles. It was the cheap one in a good area. The old saying: find the fixer-upper on the best street. The location value is already there. Buildings change; you cannot fix a location.
They bought it for low $400s. A fixed up house next door were selling for $650,000+. The margin existed. It required effort. Serious renovation. Plumbing issues. It wasn't just cosmetic. They got building inspections. It was solid brick. They went ahead.
People want turnkey. They hate work. They pay a premium for someone else's hard work. If you are willing to do the work, you get that money. Your reward is for your effort. That is how flipping works. Fix and flip.
Crunching The Numbers Before Starting
They planned to spend sixty thousand. It is tight to do everything. So they had to be smart. They ripped out carpets themselves. Savings were made. They brushed and rolled themselves. Labour is dear. Doing it yourself saves thousands.
They spent money in the wet areas. Those rooms matter. Updated the kitchen with nice tops. It seemed luxe but was cheap. Updated the vanity fresh and clean. They polished the floorboards. Hidden away was timber. Sanding and sealing changed the look.
They didn't extend. Moving walls costs money. They kept the footprint. This is smart flipping. Visual changes return the most. Painting a brick wall modernizes it inexpensively. Extensions costs tens of thousands. Don't overcomplicate.
The Hard Work Of Renovation
For 8 weeks, they worked every night. People saw the trade utes. The transformation was visible. The old front was painted grey. The jungle garden became tidy. New grass fixed the curb appeal. First impressions count. It gets buyers through the door.
The interior, it became light and bright. Neutral tones reflect light. Stay neutral for resale. The goal is everyone. White walls allows buyers to add their style. The timber added warmth. It was stunning with character bones.
I visited regularly. I gave feedback. "Change the lights," I noted. Bad lighting is awful. New pendants went up. It was bright. Time to sell. Total spend: $58,000. Duration: 2 months.
Marketing A Freshly Renovated Home
We hit the market. We used professional staging. Vacant rooms look small. Styling sells. It cost $2,000, the images were amazing. Images were great. Landlords were interested too it was low maintenance. But home buyers loved it most.
The ad said: "Nothing To Do But Move In." That sells. The launch weekend was busy. 45 groups. Locals inspected out of curiosity. But genuine buyers showed up. They wanted it.
We received multiple offers by Monday. People loved it. "The floors are great." No one mentioned the old house. They only saw the new home. Renovation works.
Calculating The Profit Margin
It went for $635,000. Let's do the math. Purchase: $420k. Renovation: $58k. Stamp duty and costs: $25k. Total cost: $503k. Sale Price: $635k. Net gain: $130k+. In two months. Great wages. That is the reward.
Not every flip works. If you pay too much at the start kills the profit. If you spend too much hurts you. Purchasing well and control costs, you win. In Evanston, the opportunity is there. Look for the wreck.
If you want to flip, call Brad Smith. I find the dumps. I advise if there is profit. Don't guess. I love these projects. Start your journey. Contact me.
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