Recent content by paul81

i had the exact same problem. tenant at the front lived on his own and was at work most of the time. i was with builder half of the time (to help out and save money) and most of his tools were cordless. We couldnt work it out so i just wore the cost, even though my tenant offered to pay half

i voted no its a fact that drugs ruin lives. These guys made their choice to participate. capital punishment wont stop the problem but it will, in my opinion deter people from becoming mules which will lead to less drugs and less lives ruin. its "for the greater good" however i do feel...

thanks for the kind words guys Yes IO loans. At least $150pw positive gear after every expense i can think of. This way when rates go up i have some room to breath before declaring bankruptcy :o hmm...after re reading comments here and my previous post it seems i have actually been buying...

I agree with Brian, build as cheap as you can. Both my granny flats are brick veneer but only because i could get them built as cheap as blue board and personally i think brick looks better.

neK, your estimate is close. according to recent sales and residex the figure is 555k....which means they valued my brick veneer 2 br granny flat at 85k?? :( having said that i will still do it again. My outlay for GF was 20k but im geting rent 390pw just for the GF.

Couldn't have said it better. And yes 2 RE agents have said it would be at least 700k in current market conditions.. not that i believe them, just an indication

im wondering if the cost of my granny flat cost (100k) is reflected in my current valuation. area is Blacktown 2148 it has 2br house on 920sm land purchased for $400k and settle in 01/01/12 built granny flat 01/06/13 just did a valuation last month with ANZ, its now 640k so is there...

if i had high income then i would be more aggressive in buying and when reach borrow limits, i would then add granny flat. But my strategy is to buy property and add a granny flat for cash flow. im low income so need saftey net for rainy day or rate rises. yes, another reason i opt for...

Hi, i have the exact same set up as you and also in Blacktown. We had tenants in the front before granny flat was built so we asked what they prefered. They opted for access on the side of house. It has been great so far. personally I think either way there will be a bit of inconvenience...

neK, initially i wanted cladding for reasons you stated and also to match house at the front but i came across a builder who was able to do brick veneer for 92k (other builders quoting much higher for clading) Not only that, somehow my draftsman managed to increase the size of the building...

Purchased 2 br house on a 900sm block for 400k in 2012 at Blacktown. built 2 br brick veneer granny flat in the back yard for $100k combined income currently $780pw current valuation 650k my only concern was if the tenants would get along, even though only thing they share is driveway...

501k. personally its interesting but yeah dosn't mean much

Hi DT, sorry what i meant was that with higher income we can be more aggressive with better serviceability ( as MTR mention) Like you, i too have a few properties (currently only 4) but i had to renovate and build granny flats to improve serviceability. Imagine what we can do on high income :D

Yes, i agree. High income earners can do so much more and achieve their goals much faster. If only i was at least on average income. such is life