{"id":38114,"date":"2022-04-19T07:55:26","date_gmt":"2022-04-18T19:55:26","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=38114"},"modified":"2022-04-19T07:55:26","modified_gmt":"2022-04-18T19:55:26","slug":"meet-the-brothers-turning-trash-to-cash","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/meet-the-brothers-turning-trash-to-cash\/","title":{"rendered":"Meet the brothers turning trash to cash"},"content":{"rendered":"

PHOTO: Brothers Nathan and Daniel Odessa flip houses in Brisbane under their business, Odessa Property Group.<\/strong><\/p>\n

BROTHERS Nathan and Daniel Odessa have made a pretty penny flipping houses since the pandemic took hold.<\/p>\n

Their most recent project smashed the sale price record for a home in the north Brisbane<\/a> suburb of Wavell Heights when it sold for just over $3m last month.<\/p>\n

But even they admit the days of turning trash to cash may be over.<\/p>\n

\u201cTo come into this market as a flipper now, you\u2019ve missed the opportunity,\u201d Nathan said.<\/p>\n

\u201cYou\u2019ve got to find a builder and materials. It\u2019s a timely process now. Definitely not as quick as it used to be.\u201d<\/p>\n

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This new build at 46 Power St, Wavell Heights, smashed the suburb record when it sold for $3.05m in March.<\/strong><\/em><\/p>\n<\/div>\n

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The professional builders have decided to change their strategy as uncertainty starts to plague the market amid the threat of interest rate rises, the increasing cost of living and a looming federal election.<\/p>\n

\u201cWe\u2019ve changed our tactic from big and loud luxury homes to condensing it down to something all buyers can afford,\u201d Nathan said.<\/p>\n

\u201cRight now, in this market, you can see people can\u2019t afford to pay over the $2 million mark\u2026 so we\u2019re coming down into a safer market.\u201d<\/p>\n

Operating under the banner of Odessa Property Group, the siblings have flipped six houses in under three years.<\/p>\n

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Property prices rose 4.7 per cent across Australia last quarter, with Brisbane leading the way<\/a><\/h2>\n<\/header>\n<\/div>\n

Before 46 Power St, Wavell Heights, they built and sold 87 Benecia Street in the same suburb for $2.227m.<\/p>\n

\u201cWe buy the land, design and build ourselves, pick the finishes ourselves,\u201d Nathan said.<\/p>\n

\u201cWe\u2019re lucky to have suppliers to help us with construction at the moment.\u201d<\/p>\n

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