Nix and Mike

Just a curious thought......for the entrepreneur out there - is there an opportunity to "flip" houses in Perth? i.e. buy a fixer upper or a house that you can add some value to, effect the alterations and then resell for a profit? As the housing market is so bouyant, is this a real opportunity?

We currently do this as a sideline where we live (one house a year or so) and it works really well for us....just curious as to whether the opportunity may be a bigger one for us if (when) we ever get to Perth....

Just curious...
Any opinions . thoughts....?

Nix

Northern-Monkey

I would say not really most things are around the 410 - 500k mark and they all need doing up.

Despite what people say the market is a little unsteady houses are selling slower and i have a few friends who bought in the boom and have just sold up some have lost as much as 30K if your gonna do it I would suggest Brisbane still has a bargin or two, there are no bargains in perth.

If there are tell me where no crap suburbs!

mbike

A friend of ours has been doing this for the last couple of years around Bayswater but he has found it difficult recently.

Mark

steve99

I've done a couple recently as a sideline and yes it does work, as long as your not expecting huge amounts and really do your research and try and buy under market value.
Houses are probably out of the question as the outlay is now to high, and then the stamp duty and buying/selling costs wipe out your profit. We focus on small units in key locations.
One thing we have found is that Kitchens cost a lot more over here. Certain things you wont be able to do yourselves, so you need to find good traides that you can pull in at short notice, good electricians and plumbers are very hard to get hold of.