warehouse living investment

From: Khurram Saeed


Hi All

I went to check out a reference one of the builders, i am going to use for my renovation, gave me to look at. This lady lives in Fitzroy. 2 mins from Nichlson street shopping and the rest...anywho, she bought the "SHell" warehouse in July last year, for $250K. Spent $164K building a 28Square 3 level warehouse "house" within the shell. And she had an offer to sell the place for $700K!!!! My jaw hit the ground when she told me that. Her costs were approx $250K + 164K = $414K...she created an instant $700K - $414K = $286K equity in less then 4 months!!!

Just wondering, if anyone has done something of this sort.
 
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