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Stephan Baron scored a R1 million profit on a three-bedroom home in Johannesburg. Image via YouTube Flipping Johannesburg

Joburg house flipper achieves R1m profit on four-bedroom home [watch]

After selling this Johannesburg home for R3.3m, house flipper Stephen Baron scored himself a profit of R1m Here’s how he did it!

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Stephan Baron scored a R1 million profit on a three-bedroom home in Johannesburg. Image via YouTube Flipping Johannesburg

Local house flipper Stephen Baron has officially topped his “biggest and most successful” project. Baron achieved a R1 million profit on a four-bedroom house in Johannesburg but it did not come easy. Here’s how he did it…

ALSO READ: Local house flipper scores R970k profit on Joburg home [watch]

THE BEGINNING OF PROJECT G

Baron’s Project G has three and a half baths, a study, a pool, garden, two garages, an entertainment area and a staff room. The ground floor rooms of the house all lead onto the patio.

The local house flipper described it as “a palatial double-story Facebook home for the entertainer.” 

Baron began renovating the house while the tenants still occupied the space which caused a few problems for him and his team. “It went pear-shaped very quickly,” he said. 

‘A NIGHTMARE’

Baron acquired the house after the owners failed to keep up with the mortgage payments. Eventually, he struck a deal with the tenants, allowing them to stay for two months while he fixed up the house. 

“I had to work around their kid’s exam timetable so it was like one week on, one week off. They actually started trying to manage the project and give me design advice on certain areas. It was ridiculous.” 

The tenants took months to move out and started breaking down some of Baron’s renovations. Eventually they moved out and the house flipper could put the finishing touches on the house. 

The house took four weeks in total to renovate.

ALSO READ: Decade on the market: Why no one is buying Michael Jordan’s mansion

ALL THE RENOVATION COSTS 

The purchase price, commission, utilities, transfer costs, finance costs and renovation costs all totaled to just above R2.2 million. The house was sold for R3.3 million leaving Baron with a profit of R1 million. 

TAKE A LOOK AT THE PROJECT G JOURNEY HERE