flippin more - 68 South Lotts Road, Ringsend, Dublin 4

Sold for €125k in September 2012

myhome.ie/priceregister/68-s … in-4-13567

now back on the market for €325k

myhome.ie/residential/brochu … -4/2261347

This is the second flipping attempt in this part of town I have spotted this week (the other being Lea Road Sandymount). Both look like the work of small developers to my mind. If people like this are back in the market it is an interesting development - last time I noticed this kind of activity was at the height of the bubble.

Why not contact the agent and ask what has been done to add 200k to the asking price :slight_smile:

Just rang the agent there…

Well… it has only been refurbished and currently has a bid of €325k on it… shiver my timbers eh :slight_smile:
The Phil Spencer make over is worth 200k :slight_smile:

How bad was it before? 125k seems low.

That was a quick refurb. They only got PP to knock down a lean-too and rebuild extension in Oct. dublincity.ie/swiftlg/apas/r … ts%3C/a%3E
Well done to them…

I don’t know what it looked like before the refurb, but it looks utterly destroyed now. I wonder if they removed all the charm, or if was already gone when they bought it? Nice exterior, though.

I think they’ve been watching too much “Homes under the Hammer” and the bidder, assuming they exist, hasn’t been watching enough!

I’d say whoever did this could be looking at close to 100k profit if it sells at around that offer and tax free to boot, nice one

But any would be purchaser would have to be thinking, why didnt they do the same and save themselves the dosh

Non PPR = CGT (Capital Gains Tax)

The decor on this one has all the hallmarks of someone that spent too long in the States watching all the “flipping” programs on HGTV… so foreign cash would be my guess here…

myhome.ie/residential/brochure/31-lombard-street-west-portobello-portobello-dublin/2163866

I think the Lombard St one is a lovely job. I can understand someone paying a premium for it if they can afford it. The South Lotts one looks cheap and nasty.

I thought there was no cgt on anything bought in 2012?

There is an exemption there but “In Budget 2012, a new incentive relief from CGT was introduced for the first seven years of ownership for properties bought between Budget night and the end of 2013, where the property is held for more than seven years.”

This seller cant avail of it

This property was not just a standard decor refurb it was completely gutted because it was totally rotten. Go check the house out and see the extent of work done people. A b3 rating on that era of house doesn’t come lightly it was a G. Decor can be changed it was probably done as a blank canvas. It’s the structural work and insulation etc that you should be considering if buy this kind of property. Job well done in my book.

Then why are you selling it? :laughing:

Because he’s a tricky dicky? :nin

It’s not my house guys. I have seen the before and after and know what was done.

I didn’t see be inside prior to be refurb but I drove past it numerous times and it looked like a wreck to me. Leaving aside the standard of the refurb putting the extension on the back would have cost a pretty penny. This is why I think the job must have been done by a small builder. No one who had to pay a builder to refurb this for them could have turned much of a profit. If it is a small builder I wish them well. It looks like a nice job to me and it is no joke trying to earn a buck as a builder at the moment.

…and there are so many out there who will pay a premium for having the work done. Me? - I view every house as a site and price accordingly.

Now sale agreed.

Up on the Property Price Register now, sold for €339,950 on 01/03/13. Nice profit margin there.