Do Ups The Fastest Way To make Money

“Do-up” proves its worth in auction
By Alanah Eriksen
Friday Aug 9, 2013

This five-bedroom home at 4 Marlborough St sold for $1.9 million – 18 months after selling for $1.05 million.
Sarah and Martin Gaskell never planned to renovate and sell, but the couple became so addicted to the process they’re doing it again.

It helped that their five-bedroom former “do-up” in Mt Eden fetched $1.9 million in the Bayleys auction rooms this week.

The couple bought 4 Marlborough St 18 months ago for $1.05 million. That’s a difference of $850,000.

But Mrs Gaskell said they spent about $500,000 bringing the 1910s villa up to scratch, so their profit was around $350,000.

Read the rest here:

http://www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=10910209

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