Home & Lifestyle Summer 2019

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Flipping houses - Real Estate Rescue

STEP 4. Know your improvement goals It’s easy to over-improve but it’s just as easy to under-improve a flip property. If you don’t do enough, potential buyers will hesitate to pay the asking price and if you over improve you’ll cut into your possible profits. A good idea if you’re just starting to get into flipping houses, is to pick an easy property, that may be just cosmetically challenged and make a few minor changes rather than redesigning the entire property. STEP5. Compare themarket Check out the other properties in the neighbourhood and see what the latest sales figures show in terms of their market value but also how long it takes homes in that area to sell. You may also want to assess what condition they are in compared with what you are planning to do, so that you will have the best chance of setting a realistic selling price estimate. If you overestimate what you might get for the sale of the property, it could take too long to sell. No matter how nice the renovation, if you did it on a home in the wrong neighbourhood, you could pay a hefty price. To learn more about flipping houses in Australia, join Dominique Grubisa for an upcoming webinar and learn how you can find undervalued property that you can potentially purchase 10% – 40% below market value from motivated vendors. www.dginstitute.com.au budding artists between the ages of five and 18 to submit a portrait for the Young Archie competition. Just like the Archibald Prize, young artists are required to paint a portrait, froma live sitting; it should be of someonewho is known to you and plays a significant role in your life.” The Archibald Prize 2019 Tour will be on display at Gosford Regional Gallery fromFriday 15 November 2019 until Sunday 12 January 2020. Tickets: Adults - $7.50, Concession - $5.00, Gallery Members – Free. “There is deep appreciation and a love of art and culture across the Central Coast and we are also home to some incredibly talented artists,” Mayor Matthews said. “The Regional Gallery’s ability to attract such important exhibitions is testament to its growing reputation in the arts community as a first- class facility.” Visit centralcoast.nsw.gov.au/archibaldprize for further information.

where the owner is seeking a fast sale due to financial hardship, divorce, a death in the family or a business partnership breakdown. Or look for unkempt homes that nobody seems to want. Try to purchase properties for about 20% less than the market value. It may sound ambitious but some vendors are prepared to take the offer to get a fast sale. STEP 2: Know your area Flipping houses without knowing the area well might lead you to unpleasant and costly surprises. It’s no good to start the project only to find out that a highway has been earmarked to run through the suburb, or the park next door is about to be rezoned to industrial use. Do thorough research on the suburb and its surrounds so you know what it is happening there in regards to possible infrastructure or zoning surprises. STEP 3: Know your target market You may want to put your own stamp on the design of your flip, but it’s important not to let personal taste get in the way of making a property that will appeal to all potential buyers. Designs that are too specific or trendy could decrease its saleability. It’s better to create a home that will appeal to the majority of buyers, so stick to neutral colours and simple designs that can be updated or modified by the eventual buyer. Central Coast Council – in partnershipwith the Art Gallery of NSW – is delighted to bring this touring exhibition to the region for the third time in the 98-year-history of this most illustrious painting prize. Inaugurated in 1921, the Archibald Prize is a window into Australian culture with sporting heroes, politicians, actors, and artists just some of the many people to have posed for portraits over the years. The Archibald Prize is arguably the most renowned and anticipated annual exhibition in the nation. “This holiday season locals and visitors of the Central Coast will have the opportunity to view the stunning collection of 51 finalists from the prestigious 2019 Archibald Prize. Visitors to the exhibition will also have their chance to play art critic for the day as they are encouraged to vote for their favourite portrait in the ANZ People’s Choice award. As part of the regional tour we are also encouraging

While the market has cooled slightly in the east coast major cities, there’s still good potential for investors who are into flipping houses – as long as you understand the market, do your research and have a plan. DG Institute Founder and CEO Dominique Grubisa explains the five key steps you need to follow. If you’ve watched television shows like The Block, you might have the impression that flipping houses is all about turning distressed properties into showcase homes. Their main focus is often on rehabbing kitchens, bathrooms, and organising contractors to do the heavy lifting. But in real-life, profiting from buying and selling properties involves more than soft furnishing and glitzy finishes. In fact, the less time you spend on finding the right colour paint, and the more you spend on finding and negotiating good deals, the better the return on investment. Despite a fall in the number of properties being flipped in the current real estate market, it is still a very viable option for investors – if done right. These five key elements are needed in order to achieve a successful flip in any market. STEP 1: Buy at the right price Buy under market price to maximise your investment. A good starting point is distressed properties

ArchibaldPrize comes to the Coast - 15th Nov 2019 - 12th January 2020

Yvette Coppersmith winner 2018 Archibald Prize