Another before and after thread

[Of The Vultures]

We've finally finished our reno in Tassie and thought I'd put up some before and after shots.

It took us 7 weeks of sweat and tears (no blood thankfully ), blew our budget mainly due to... well me not knowing what I'm doing I guess! We've renovated twice before but not to sell, this reno is our litmus test for reno & flip.

So here are the pics:

Kitchen

http://somersoft.com/forums/gallery/data/500/Kitchen_door.jpg

 

[Of The Vultures]

Those kitchen pics turned out huge (sorry, can't edit)

Let's try this again, bathroom this time

 

[D.T.]

Wow looks great. Can you do mine next?

 

[Of The Vultures]

Lol dtraeger, NO! That was a hard slog that one Need a break.

Laundry, hallway and rear bedroom:

 

[Of The Vultures]

Garage, lounge, toilet

 

[Of The Vultures]

Main bedroom, exterior (front and rear)

 

[Of The Vultures]

And finally, the back yard:

 

[D.T.]

So what did all this cost in terms of parts and labor? And how much of it did you do yourself? And what was before and after value of the property?

 

[Of The Vultures]

So what did all this cost in terms of parts and labor? And how much of it did you do yourself? And what was before and after value of the property?

Total cost was $21500 for everything.

We did everything ourselves except plumbing, electrical and carpet (the combined cost for these was $5000)

Bought the property for $211,000, is on the market for $280,000. Our total costs including sale and holding costs are $251,000.

So yeah, not a huge profit, but we learned a LOT and will put this to good use in the next project.

 

[coastal]

Total cost was $21500 for everything.

We did everything ourselves except plumbing, electrical and carpet (the combined cost for these was $5000)

Bought the property for $211,000, is on the market for $280,000 (offers over $279k to be exact). Our total costs including sale and holding costs are $251,000. Not taking less than $270k for it.

So yeah, not a huge profit, but we learned a LOT and will put this to good use in the next project.

Good Stuff..$270000 sale would mean $19000 more then you started with...do that 5 times a year and you make $100 k before tax and gst.........the more experience you get flipping props the profits will be bigger

 

[mikezen]

That looks great, what part of tazzie was it?

 

[Of The Vultures]

Don't want to give out the location just yet as it's still on the market but will update once sold

 

[MTR]

Looks great, good work

 

[INVSTOR]

Looks good!

 

[westminster]

Looks great. You've got a good team there!!
What is the colour of the internal walls.

 

[wylie]

Great job! That is one heck of an improvement for just over $21.5K.

I'm surprised it hasn't increased the sale price more. It makes it go from "not interested - too much work" to "move in ready" and I would have thought that would have moved it to a higher selling price, but I guess it all depends on the area and the market.

 

[Of The Vultures]

Thanks everyone!

Myf the colour is Dulux Linseed half strength. Looks pretty good if I say so myself

Wylie yes, the area is not very upmarket so there's a definite cap on how much we can hope to sell it for. Part of our profit lies in buying below value, even for the condition it was in. We probably overcapitalised a little for the area, but these are the things you learn, we'll try and do better next time.

Also things take a long time to sell in some suburbs in Tassie. We don't want it sitting on the market for 6 months so it's priced accordingly.

 

[redwing]

Very nice

Great colours also

How does the front look?

 

[Of The Vultures]

I didn't realise I missed the front photo.

We got rid of the old fence and letterbox and tidied up the garden mainly. I'll post up the pic when I can (I'm at work atm)

 

[nhg]

Mind giving us a break down of the costs?

Did you simply 'white knight' the tiles?

Looks great, very impressed.