@thetruism · 9d ago
Gold Coast apartment flip nets owner over three million dollar profit
An apartment on the Gold Coast has been flipped for $9.3 million, yielding a $3.14 million profit for a vendor who reportedly never unpacked before reselling the property.
Not moving quickly right now, but still current and open to further updates.
The numbers
Gold Coast
Gold Coast apartment flip nets owner over three million dollar profit
- A Gold Coast apartment was flipped for a sale price of $9.3 million.
- The transaction netted the seller a profit of $3.14 million.
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What we know
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What we don't know
Open questions are tracked here until evidence answers them. The Truism never fills a gap with an assumption.
- The identity of the buyer and future plans for the property.
- The source and basis for the claim that the vendor never unpacked.
- The apartment’s previous purchase price and purchase date.
- Whether the stated $3.14 million profit is gross or net of transaction, tax and holding costs.
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