The truth behind the $640,000 profit in Otara

 The truth behind the $640,000 profit in Otara 
 
Well, our client has really stirred up the chat on the news sites last week. 
 
We get it. On the face of it, a $640,000 gross profit in four months seems like an example of wild speculation in a market gone crazy. 
 
But that is not so. Our clients don't speculate. In fact, we loathe speculation. 
 
This client, who we'll call 'Client-J' was not reliant on the market increasing to make a substantial profit from this deal. She calculated it based on knowing the market, knowing how the pieces worked, and being able to see what others couldn't. 
 
The deal had its challenges too, it wasn't all plain sailing, but look at the result!
 
Here's the OneRoof article in case you haven't seen it: Click here 
 
The point is, this result was achieved because of purposeful strategy, not luck or hope. 
 
And look at who the three bidders were:...
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Another renovation and trade deal! Check it out!

Another renovation and trade deal! Check it out!

Check out these Before // After pics of another successful AssetLab trade deal.

 
 
 
South Auckland property renovation and trade by another awesome Assetlab Property Education client
 

Through building relationships with real estate agents, this property was purchased off market, was renovated in 5 weeks and sold out for a profit of $60,340.10

 

How many of these would you need to do each year to change your life?

How many do you need to do to create security for your family?

How many do you need to do to generate a deposit for a buy & hold property?

 

Always continue to learn...

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Meet the Assetlab Team

We would LOVE to hear from you! We love to talk about property and help you with your property challenges and goals. It’s what we do (and we’re really good at it. Whew!)
 
Breathe easy, we don’t hold ourselves out to be Guru’s, Super-Stars, Masters-Of-The-Property-Universe, or anything other than who we are. Our expertise is in property and helping people achieve success in property but we are a team of normal Kiwi’s who love to help.
 
 
Stay on touch with ALL of the team and get lots of free training by joining our Facebook community HERE.
 
Here we are (mug-shots and all):
 
Sally
Sally is one of Assetlab’s awesome property coaches and along with James is one of the team’s trading and renovation experts. She is a highly experienced property trader and has traded and/or renovated over 100 properties. She also has a growing rental portfolio of positive cashflow properties, and is an absolute...
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The Best Question I Can Remember Being Asked by an Investor by Graeme Fowler

Disclaimer: Nothing is this article is meant to constitute financial advice of any kind, and is the opinion of the author only. Seek professional advice before making any financial decision.
 
Question...... Because it seems like such a fine balancing act between expanding the portfolio versus paying down debt, I am keen to understand your view on the following: If you were to start all over again, would you allocate any extra funds left over at Year End (say, over five years) towards deposits for the next property purchases, or would you use it to pay down principal? And if used for paying down debt, would there be a certain LVR% that you might target before you start expanding again? I think your cash-flow strategy aligns closely with my values and goals, so I'm interested to see how quickly a sensible portfolio could grow.
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Answer ......
Out of all the questions anyone has ever asked me in the...
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$32,000 profit on first ever Auckland property trade/flip ($385,000 purchase!)

Disclaimer: Nothing in this article is meant to constitute financial advice of any kind, and is the opinion of the author only. Seek professional advice before making any financial decision.

$32,000 Gross Profit on a $385,000 purchase (yes, in Auckland, and yes...Three bedrooms in a decent area).
 
Are you a numbers person or a pictures person?
 
Well, here's both.
 
Check out the awesome transformation in the photos for this trade in Manurewa.
 
First, check out the numbers (all numbers GST exclusive):
 
Purchase Price: $334,783 ($385,000 incl GST)
Sale Price: $434,783 ($500,000 incl GST)
Renovation Costs: $33,000
Holding Costs: $10,500 Solicitor Costs (x 2 total): $3500 Rates, Insurance,
Other: $1000 Agent Fee: $20,000
Total Costs: $68,000
Profit (after GST is paid but before tax is paid): $32,000
 
Not bad for a first-time trade aye!
 
 
Outside of property...
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