I recently advised a client at the end of a total transformation near Gawler Belt. Six months ago, it was a disaster. Old carpets. The yard was overgrown. Most buyers walked in and turned around. They saw money. But these sellers saw opportunity. that houses in this area has good bones. Under the ugly, there was a gem. They took the risk cheaply. And they got to work.
Flipping houses is hard. It is not like on TV. There is mess. It is late nights. Money runs out. But when done right, it is a proven method to manufacture equity in the market. You force the value up. You don't hope. You make it happen. This case study demonstrates what you can do locally.
I guided them from the start. Not with a hammer, with market knowledge. "Skip that room," I told them. "Fix this," I recommended. Knowing where to spend is critical to profit. If you spend too much kills the deal. You need to know what the market pays for in this suburb. I provide that insight.
First Impressions Of The Property
The property was sad. It smelled of old cigarettes. The cabinets were 1970s. The tiles were retro. It was the cheap one on the best street. That is the golden rule: purchase the dump in a prime spot. The street appeal pulls the price up. You can fix a house; you can't move land.
The purchase price was low. Finished properties in the same street were selling for $650,000+. The gap was there. It required effort. Massive effort. Plumbing issues. It was deep. They did due diligence. The bones were good. So they proceeded.
The average buyer wants easy. 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.
Where The Money Was Spent
They planned to spend sixty thousand. It is tight for a whole house. They had to DIY. They ripped out carpets themselves. That saved $5,000. They painted by hand. Labour is dear. DIY painting is huge savings.
They invested on the kitchen and bathroom. Kitchens and bathrooms sell houses. They put in a new IKEA kitchen looking modern. It seemed luxe but was cheap. Fixed the shower using modern grey tiles. Restored the wood. Hidden away was timber. Polishing them transformed the house.
No structural changes. Extensions are expensive. Used existing layout. This is smart flipping. Visual changes return the most. Painting a brick wall modernizes it inexpensively. Adding a room 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 ugly brown brick became modern. The weeds became a lawn. Simple landscaping made it welcoming. The front matters. It stops the car.
Indoors, it opened up. White paint 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 gave feedback. "Change the lights," I said. Bad lighting is awful. New pendants went up. The house glowed. The work was done. Cost: Under $60k. Time taken: 9 weeks.
Presenting The Finished Product
It went live. We used professional staging. Vacant rooms look small. Styling sells. It cost $2,000, the images were amazing. Online it looked huge. Property management gawler were interested too it was tax depreciation ready. Families were the goal.
The headline was: "Just Unpack and Relax." That sells. Opening day was busy. 45 groups. Everyone looked out of curiosity. But genuine buyers were there too. They loved the finish.
Offers flooded in after the weekend. Comments were great. "The floors are great." No one mentioned the old house. They just saw the new home. This is the power of presentation.
The Final Auction Result
We closed the deal in the mid $600s. Check the numbers. Bought: $420,000. Spend: $58,000. Fees: $25,000. All in: $505,000. Sold: $635,000. Net gain: $130k+. In two months. Great wages. That is the reward.
Risks exist. 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, register with me. I find the dumps. I will let you know if there is profit. Get advice. I love these projects. Let's find your project. Get in touch.
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