Easy Low Maintenance Property Investment With Granny Flat Potential

Easy Low Maintenance Property Investment With Granny Flat Potential


Hey guys, it’s Ryan here from on-property
and welcome to another episode of on the road where we go on the road with a buyers agency
team over at pumped on property and look at real properties that are on the market today.
That could be a great opportunity for someone out there. Now we’re not going to say exactly
where this property is because the clients are pumped on property a will likely be purchasing
this, but this is a really interesting and unique opportunity. This ones on the market
for offers over four nine nine. It’s a three bed, three bath property and as you’ll see
in the walkthrough downstairs isn’t illegal height with the exception of maybe one or
two of the bathrooms downstairs that are legal height. So you have this a lot in Brisbane
where you’ve got these. Queensland is where the house is up top and underneath was just
not legal height. You can’t live under there, but some people
do them up. This property that have done it up downstairs, but you can’t advertise it
as having that extra bedroom which they obviously using the utility room downstairs for so effectively
it’s a three bedroom, three bathroom house, but as you’ll see through the walk through
the downstairs area is quite livable. You’ve also got really interesting. You’ve already
got the drivable side access for granny flat and it’s not just room for drivable side access.
It’s actually already built in, so it’s full of stuff at the moment, but you’ve got a driveway
on the side that can fit two cars. That actually goes down to the back of the house and you’ve
got a garage as well, so the front house you could obviously get the carriage and then
they can park on the driveway as well. And then the side to side carport you could give
to the granny flat occupants down there. There is a large shed in the backyard that
you would probably need to knock down in order to build a granny flat. Some landscaping that
might need to be done obviously, but definitely granny flat potential in this property. So
looking at the numbers offers over four, nine, nine. I’m not sure what this would go for
that Simon’s expertise, not mine, but I did speak to the agent and I was saying in terms
of rental appraisal, probably looking over $500, but again, the agent isn’t a rental
agent so they weren’t 100 percent sure on that. This one’s kind of in the upper price
range of the area, so you wouldn’t find many properties as expensive as this in the area
in terms of renovation potential of the property has been pretty well done. As you can see
through the walkthrough. The property has had a lot of work done to it, so it’s not
like a previous property that we looked at, whether it was huge renovation potential in
this one. There’s probably not as much renovation potential,
but real solid brick home with that granny flat potential. Really exciting opportunity.
Simon’s just going through and filling out the inspection checklist and checking everything
way more thoroughly than I will. So we’ll check in with him in a second and see what
he thinks of this property. But if you guys are interested in working with pumped on property
to help them find you secure properties like this, uh, as well as properties where you
can build a granny flat, then head over to on-property dot com dot a u, and you can book
a free strategy session over there with the team. You can get to know them, you can talk
about your situation, where you’re at, where you want to be, and see if it’s a good fit
to work with them to help you get into a property like this where you can get a good solid property.
You can then build a granny flat to manufacture that cashflow and hopefully have a positive
cashflow property, a good foundational property that will then go to pay itself off. So head
over to on-property dot com dot a u to book a Free Strategy Session with them. And we’ll
throw over now to Simon to see what his thoughts are on the property. So I’ve got Simon with
me hand. So he’s just finished his inspection on the property. What do you think? Yeah, just finished up
having a bit of a chat with the agent to just get some expectations around why the owners
are selling. They want to purchase some land out a little bit further west than here. Get
Out of what they think is the hustle and bustle, but there’s not too much hustle and bustle
at this point in time. We’re both from the Shire in Sydney. It’s very different, but
this is really nice area. Beautiful Straight, very high owner occupier. I’d say there’s
at least 75, maybe even 80 percent owner occupiers here. The train station is about a 500 meter
walk, maybe a kilometer just down the road. The property itself is really nice. The owners
of maintained an extremely well and done some nice little upgrades so it’s very low maintenance.
Quite different to the one that we saw a little earlier today that was a bit more of a renovator. This is a renovated version of that, so it’s
nice to go through and see what you can potentially do. These guys have built in underneath really
well and it’s um, yeah. It’s a good property. Nice. And say I ain’t got that high owner
occupier appeal. There is a potential for a granny flat in the backyard if you want
at some point in time in the future. Just a little bit of landscaping required as well.
So I love that. With this place, you’ve actually got a driveway already down to the granny
flat so you wouldn’t have to pay for that. Yeah, exactly. So yeah. Nice town property
for the area. It’s a bit of a more of an expensive one, but that’s nice. It’s a way that it’s
going to be going moving forward anyway. What do you think of that? Buying the more expensive
property in the area versus somewhere in the middle of verse and somewhere in the bottom. I like the higher pockets of the suburb, the
higher owner occupied areas close to the schools, close to the public transport options because
I want an emotional owner occupier person to want to purchase my property in the future.
So I liked the higher pockets, but I like the rundown versions. Personally. This is
only because I can get into the property myself and do a bit of an upgrade. Your more active
investor, so yeah, very much so. I want to get your hands dirty, jumping there, do a
renovation, but this could be awesome for someone who doesn’t want to do that. It’s
already renovated. It’s low maintenance. You could add the granny flat for the cashflow
in a good area. International, interstate investors. This is your bread and butter.
You don’t have to worry about it. Don’t have to worry about anything. I think the rental
yield on this one would be quite good as well. Yeah. Unfortunately downstairs isn’t legal
height, um, which, but it’s been completely renovated as you can see in there. So um,
that can sometimes affect the selling of the property and also the renting of the property
because you can’t actually legally market it as those being bedrooms and bathrooms.
Yeah. But then people will obviously walked through it and see it and they kind of take
that into account. They’re going to be renting the property or buying it. Exactly. It’s that
weird loopholes thing. Yeah. So yeah. Interesting one, I like it. What were your thoughts? Yeah,
I really liked it. I liked that it was fully renovated stairs because you can’t legally
advertise it as that I could see. Yeah, the fact that it’s already done makes it. If it’s
not something that as an investor I would put the money into doing that because I feel
like what you spend downstairs you probably not going to get back yet, but because someone
else has already spent that money and I can see tenants walking through and thinking of
utilizing the space even though it’s not legal height, you know, the utility room that they
can use, but because of that, because I think they’re kind of overcapitalized there on that
downstairs section that can be a good opportunity and just the low maintenance aspect of it
with the granny flat to improve the cashflow and then the fact that you may have a good
rental yield on the property itself anyway. It’s just kind of, it looks like one of those
low maintenance simple properties. Yeah, I agree. Cool. Sweet. Anything else to add?
Um, Nah, Nah, pretty excited to get some feedback out to um, a few of the people that are, that
have flagged this one is one that they would like us to checkout. So, um, so I don’t imagine
that this one will stay on the market very long. I think the open for inspections this
weekend, it’d be interesting to see whether you guys close it before then. Yeah, we’ll
see what happens between now and then. Um, I think there’ll be a fair few people at the
inspection for sure. Awesome. Well thanks for watching this episode of on the road guys.
Go ahead and check out that previous property we’re talking about, which was the renovator
or we’ve got a development opportunity one there as well and I’ll leave the links of
that in the description down below. Thanks so much for watching. And until next time,
stay positive.

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