Ben Everingham’s 7th and 8th investment properties are a duplex in Coolum Beach, QLD.
- Land size – 819sqm
- 3 bedroom, 1 bath (existing house)
- 4 bedroom, 2 bath (brand new house)
- <1.5km to the beach
- <15km to Maroochydore CBD
- <25km to Sunshine Coast University Hospital precinct
- We have achieved an equity gain of 21% since commencing this project in early 2015
- 2015 – $885,000
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Why did we purchase this property?
- Immediate capital gains ($140,000+ on the completion of construction)
- To flip and make a short term chunk of cash
What did we learn from purchasing this property?
- Duplex opportunities exist in many local government areas throughout South East Queensland
- Its possible to find a joint venture partner and put no money down on a deal
- It possible to get private funding without going to the banks
- Always build something slightly nicer than other new housing stock in an area
- Build relationships with real estate agents and make their life easier. All they really care about is a secure sale, at an acceptable price for their client, with enough of a deposit in the contract to get their sales commission on settlement
- Find someone who is doing what you would like to do and find a way to add value to their lives
Want to learn more about Ben’s property portfolio?
- Ben’s 6th investment property – 4 bedroom house in QLD – 2014
- Ben’s 5th investment property – 4 bedroom house in QLD – 2014
- Ben’s 3rd investment property – 3 bedroom house in QLD – 2012
- Ben’s 2nd investment property – 5 bedroom house in NSW – 2011
- Ben’s 1st investment property – 2 bedroom unit in NSW – 2011
Duplex Construction and Renovation Photos