Hi Guys
Yep, I have flipped a few properties, mostly in the Brisbane market (before the boom).
Though I've had my eye on a few Sydney properties lately. There are some people who are hurting in Sydney and you can start picking up a good deal again, though it takes some time to find them.
I missed out on a great deal down in Burke St, Woolloomoolloo. Asking price was $580k I went in at $435k got them down to $515k without increasing my offer at all. Unfortunately, someone else came onto the scene and offered $535k and the vendors jumped at it straight away. Bugger....
But a great property I'm looking at now is a full redevelopment. Knock down a weatherboard home, subdivide the 700sqm block and build either a duplex or two freestanding properties. These would then have city and Botany Bay views.
The property has been on the market for 2 months now. Asking $550k (land value only). A good buy price would be under the $500k mark.
Anyway, that is what I'm seeing in the market at the moment in Sydney.
Cheers
Robert