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Michelle Lewis: How I’m Making Fast Profits through Renovation

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Sarah Megginson | 16 Apr 2015, 12:00 AM Agree 0
Michelle Lewis’ instinct and passion for renovation saw her making high five-figure profits in just two months.
  • Jennie W | 11 Feb 2019, 09:27 PM Agree 0
    I don't quite follow your figures in the first two reno examples? Do you include purchasing costs in the purchase price of each property?
    I have purchased an old weatherboard house in Wodonga, Vic 3690 with a land size of 1021 sqm. Purchase price (at auction) $230,001.00, legal costs of purchase approx. $10,000.00. However, I am confused as to how to progress. I could arrange subdivision of the property and sell off the back block (expect approx. $60,000 profit on sale), then use the $60,000 to renovate the old house, but how to know what the front house will be worth after renovation. I don't want to do all the work (would have to use tradies) and then find the house wouldn't make a profit I really don't know how to begin on this one. Jennie W.
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