A Granny Flat For $25,000. Is it legit?

[Sailesh Channan]

Who builds granny flats in Brisbane anyway? It's not as if you can rent them out.

I get a lot of enquiries about granny flats as people after an income from the flats. I advise them that granny flats are not for renting out however, a lot self manage and rent it out anyway.

There are a number of companies around Brisbane that are promoting dual occupancy in Res A area by incorporating a granny flat in the house design. They are promoting these to interstate investors as well so they must have agents that are willing to manage these.

These strategies are fine however, it becomes a problem if something bad happens. This is when the owner can get into a lot of trouble.

 

[Encarta]

These strategies are fine however, it becomes a problem if something bad happens. This is when the owner can get into a lot of trouble.

And how often does this happen? Seriously, once in a blue moon?

 

[Encarta]

I walked through a dozen last week, ranging from 20k to 100k delivered installed ready to go. I was well impressed for what you get for 50k considering it can be delivered and rented out in under a week.

Not sure why everyone is bagging them? I have 3 properties I will soon be able to drop in the side and rent out separately that will bring in 50k a year. Not a bad return off 150k, maybe I'm missing something here?

 

[Simon L]

And how often does this happen? Seriously, once in a blue moon?

Any tenancy related issue will leave you exposed.

Anything serious like a fire that injures or causes death will REALLY leave you exposed.