2 Sandra St, Kingston
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OVERVIEW:
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DETAILS:
These seasoned investors were looking for ways to improve the rent return on their properties and they have achieved this in several ways. Even though they bought well they felt they could achieve more.
Firstly, they did a big renovation on the existing 1970’s home increasing the rent return.
They realised that to make it truly cash flow positive they needed to build a second dwelling ie granny flat in the backyard.
The existing house was positioned quite close to the front of the property giving us quite a reasonable building envelope to play with at the back. This allowed for a single carport as part of the extended roofline to the granny flat, and enough room to enable a car to reverse and drive nose first out to the street.
The owners installed a new colorbond dividing fenceline to complement the renovations on the existing house. With this in place, we were good to go.
A design was drawn specifically to fit the backyard space, approvals and lodgements done and so building work commenced August 2017.
In this instance we are building a 65m2, 2 bedroom granny flat.
Within about 3 weeks we were at lockup and work is progressing nicely.
Checkout the work in progress …
With build costs under $150,000 these investors should be able to achieve a 10% rent return on the end product.
There wouldn’t be many investments that could match these numbers !
SUMMARY:
Awesome rent return on a great investment property purchase, and a cost effective granny flat build!
These seasoned investors were looking for ways to improve the rent return on their properties and they have achieved this in several ways. Even though they bought well they felt they could achieve more.
Firstly, they did a big renovation on the existing 1970’s home increasing the rent return.
They realised that to make it truly cash flow positive they needed to build a second dwelling ie granny flat in the backyard.
The existing house was positioned quite close to the front of the property giving us quite a reasonable building envelope to play with at the back. This allowed for a single carport as part of the extended roofline to the granny flat, and enough room to enable a car to reverse and drive nose first out to the street.
The owners installed a new colorbond dividing fenceline to complement the renovations on the existing house. With this in place, we were good to go.
A design was drawn specifically to fit the backyard space, approvals and lodgements done and so building work commenced August 2017.
In this instance we are building a 65m2, 2 bedroom granny flat.
Within about 3 weeks we were at lockup and work is progressing nicely.
Checkout the work in progress …
With build costs under $150,000 these investors should be able to achieve a 10% rent return on the end product.
There wouldn’t be many investments that could match these numbers !
SUMMARY:
Awesome rent return on a great investment property purchase, and a cost effective granny flat build!
A Great Success for the Investors
Vision Property Group (Qld) & Logan Granny Flats
The Granny Flat Experts
Vision Property Group (Qld) & Logan Granny Flats
The Granny Flat Experts