Aleisha and Matt Lancaster

Sydney couple making $400k from houses

PHOTO: Now, the couple have ditched the idea of finding a forever home and are focused on flipping properties for profit.

When Sydney couple Aleisha and Matt Lancaster were looking for their forever home with $140,000 in savings, they knew their wouldn’t be much available within their price range.

“We knew that we didn’t have much of an option in which suburb we could move into particularly,” Mrs Lancaster tells news.com.au. “We just looked for anything that fit our budget and we didn’t care where it was, but would make it work.”

After looking at 100 houses, they snapped up a “tiny one bedroom derelict property” in Beaconsfield in inner city Sydney for $800,000.

“It was a deceased estate, it needed a lot of maintenance and work. When we walked into the house straight away you could smell bad odour,” she explained.

“They had huge drapery covering all the windows so there was no light, the floors were squeaky, the kitchen was dirty and almost unusable and the bathroom, which was probably the newest addition was about 30 years ago. The kitchen and living room of that property had about seven layers to the floor that had been added over about 100 years.”

The couple in action during renovations. Picture: Supplied

The couple in action during renovations. Picture: Supplied Source: Supplied

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