Hi everyone.
Need advise on a deal.
Listing price $389,000.
Goal Trade - subdivide.
Existing house estimate sell for $320 after subdivide. Spend $3k to re-do kitchen. Else excellent condition.
Location - Hamilton.
Subdivision cost - $30K.
Build house in second lot - 100sgm - $150K.
Flick for $250K.
Thus target purchase price - $320K to make profit $47K pretax. (incl. agent commission)
Does this sound reasonable?
Any twists to this deal.
Need advise on a deal.
Listing price $389,000.
Goal Trade - subdivide.
Existing house estimate sell for $320 after subdivide. Spend $3k to re-do kitchen. Else excellent condition.
Location - Hamilton.
Subdivision cost - $30K.
Build house in second lot - 100sgm - $150K.
Flick for $250K.
Thus target purchase price - $320K to make profit $47K pretax. (incl. agent commission)
Does this sound reasonable?
Any twists to this deal.
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