I sat with a seller at the end of a total transformation in Gawler South. Six months ago, it was a wreck. Peeling paint. Weeds were everywhere. Others looked and turned around. They saw stress. This couple saw the bones. They knew that property for sale gawler is well built. Under the ugly, was a beautiful home. So they bought it at a low entry point. The work began.
Flipping houses is hard. It is not like on TV. There is mess. It is late nights. Money runs out. With a plan, it is a proven method to make money in the market. You make profit. You don't rely on growth. You make it happen. This example shows you what you can do in the gawler real estate market.
I advised them along the way. I didn't build, with strategy. "Save on that," I suggested. "Fix this," I recommended. Allocating the budget is the secret to a good return. Spending foolishly erodes profit. It is vital to know what the market pays for locally. That is my value.
First Impressions Of The Property
The property was sad. It was smelly. The cabinets were 1970s. The bathroom had pink tiles. It was the eyesore on the best street. The old saying: find the fixer-upper on the best street. The location value is already there. You can fix a house; you can't move land.
The purchase price was low. A renovated home nearby were selling for $650,000+. The margin existed. It took cash. A lot of work. Plumbing issues. It wasn't just cosmetic. They checked the structure. It was solid brick. They bought it.
People want turnkey. They want to move in. They pay extra for a done house. If you have skills to do the work, you earn that premium. The market pays you for the inconvenience. That is the game. Fix and flip.
Where The Money Was Spent
They had a budget of $60,000. That is not a lot for a whole house. Clever spending was needed. They did the demolition themselves. Savings were made. They painted themselves. Painters are expensive. Doing it yourself saves thousands.
Cash went on the kitchen and bathroom. Kitchens and bathrooms sell houses. They put in a new IKEA kitchen with stone benchtops. It looked high-end but was cheap. They re-tiled the bathroom using modern grey tiles. Restored the wood. Hidden away was timber. Sanding and sealing transformed the house.
No structural changes. Engineering is pricey. Used existing layout. This is smart flipping. Cosmetic renovation make the most money. Rendering the front adds street appeal inexpensively. Building on costs tens of thousands. Keep it simple.
The Transformation Process Begins
During the reno, they were there daily. Locals noticed the skip bins. The transformation was visible. The ugly brown brick became modern. The mess was cleared. New grass made it welcoming. The front matters. It stops the car.
The interior, it became light and bright. Neutral tones reflect light. Don't use bold colours to sell. You need to attract the masses. Neutral palette lets people to picture living there. The timber added warmth. It felt brand new inside an old shell.
I dropped in every few weeks. I gave feedback. "Don't forget the light fittings," I noted. Bad lighting is awful. They put in downlights. It sparkled. The work was done. Total spend: $58,000. Speed: Fast.
Presenting The Finished Product
We launched the campaign. We hired furniture. Empty houses echo. Furniture shows scale. For a small fee, the images were amazing. Online it looked huge. Property management gawler looked at it it was low maintenance. But home buyers loved it most.
The ad said: "Nothing To Do But Move In." That sells. Opening day was packed. A huge crowd. Neighbours came to look at the renovation. Serious people showed up. They wanted it.
We received multiple offers by Monday. People loved it. "It is so light." Nobody cared about the past. They just saw the lifestyle. Flipping is powerful.
The Sale: Was It Worth The Effort?
We closed the deal in the mid $600s. Look at the profit. Cost: $420k. Reno: $60k. Stamp duty and costs: $25k. All in: $505,000. Result: $635k. Net gain: $130k+. In two months. Huge income. It was worth it.
Not every flip works. If you pay too much at the start kills the profit. Over-capitalizing eats the profit. But if you buy right and fix it wisely, profit follows. In Evanston, the opportunity is there. Look for the wreck.
If you are looking for a project, tell me. I list the wrecks. I can tell you if the numbers stack up. Ask the expert. I like flipping. Start your journey. Contact me.
home selling tips gawler