Selling Houses Australia S16E06 - Mermaid Waters, Qld

For the last 6 years, Bec & Jared and their young family have been loving life on the Gold Coast. When an investment property in a nearby suburb came up, the opportunity to secure their financial future was too good to miss. 

They bought an 80's build 4 bedder in Mermaid Waters for 1.55 million dollars, with the idea to knock it down, rebuild and sell for a profit, helping to reduce their existing mortgage. But suddenly - everything went wrong. The builders pulled out, Bec lost her job and the interest rates skyrocketed, leaving this young family unable to afford their plans and with TWO mortgages to pay. 

They tried to sell, but lowball offers of 1.1 million meant they were looking at half a million loss! With only 80 thousand dollars for renovations, Wendy and Dennis have to work miracles.