Sydney Flippers
- Thread starter JustAGirl
- Start date
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
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
Hey Robert 
I was looking previously at how I cold make flipping/on-selling work in the brisbane market, because I figured that it would be a good place to start, seeing as I live here....but then i got news that i'd be moving to sydney, so i'm thinking about starting things off down there....as you can probably tell, i'm seriously lacking in the experience department!! Anyways, i'm going to join freestylers when i get down there - maybe i'll run into to you sometime!
I was looking previously at how I cold make flipping/on-selling work in the brisbane market, because I figured that it would be a good place to start, seeing as I live here....but then i got news that i'd be moving to sydney, so i'm thinking about starting things off down there....as you can probably tell, i'm seriously lacking in the experience department!! Anyways, i'm going to join freestylers when i get down there - maybe i'll run into to you sometime!
I remember when Rob F used to flip his brissy properties ...
He offered one property to the chat people in August 2001.... 82k for a freestanding house in sunnybank. Everyone baulked - and told rob to cut his commission ! Rob took it all on the chin...and ended up paying for the property using goodness-knows-what-credit (personal loans...and credit cards?).
I reckon he's glad he held onto the property ...cos it is probably worth 150k plus today !
cheers
Waverly
He offered one property to the chat people in August 2001.... 82k for a freestanding house in sunnybank. Everyone baulked - and told rob to cut his commission ! Rob took it all on the chin...and ended up paying for the property using goodness-knows-what-credit (personal loans...and credit cards?).
I reckon he's glad he held onto the property ...cos it is probably worth 150k plus today !
cheers
Waverly
