Hi, a boarding house setup really appeals to me due to the high rental return that is achievable. I'm wondering if anyone knows what it would take to set up a boarding house in Brisbane?
(1) Would you be better off just purchasing a boarding house?
http://www.realestate.com.au/property-other-qld-salisbury-113261207
http://www.realestate.com.au/property-unitblock-qld-spring+hill-116594255
http://www.realestate.com.au/property-house-qld-ipswich-116468387
(2) Or would you be better off buying a house that can potentially become a boarding house? (One big advantage of doing this would mean that you could borrow a full 80% of the purchase price as it starts off as a normal house. However when you purchase a boarding house outright doesn't it get classified differently by the bank and you can only get a 60% lend? Does anyone know the answer to this one?)
(3) If you can buy a house to become a potential boarding house what sort of zoning do you need? Do you buy low medium residential and then get it approved for a multi unit dwelling? Or do you buy a property already approved as a multi unit dwelling?
(4) How do you get it approved? So you get the right zoning, but then how do you get approval for 10 bedrooms, or 20 bedrooms? Etc... And what does that approval depend on?
I've found some information here but it doesn't really explain everything http://www.brisbane.qld.gov.au/plan...ntial-projects/dwellings/multi-unit-dwellings
Any answers are appreciated.
(1) Would you be better off just purchasing a boarding house?
http://www.realestate.com.au/property-other-qld-salisbury-113261207
http://www.realestate.com.au/property-unitblock-qld-spring+hill-116594255
http://www.realestate.com.au/property-house-qld-ipswich-116468387
(2) Or would you be better off buying a house that can potentially become a boarding house? (One big advantage of doing this would mean that you could borrow a full 80% of the purchase price as it starts off as a normal house. However when you purchase a boarding house outright doesn't it get classified differently by the bank and you can only get a 60% lend? Does anyone know the answer to this one?)
(3) If you can buy a house to become a potential boarding house what sort of zoning do you need? Do you buy low medium residential and then get it approved for a multi unit dwelling? Or do you buy a property already approved as a multi unit dwelling?
(4) How do you get it approved? So you get the right zoning, but then how do you get approval for 10 bedrooms, or 20 bedrooms? Etc... And what does that approval depend on?
I've found some information here but it doesn't really explain everything http://www.brisbane.qld.gov.au/plan...ntial-projects/dwellings/multi-unit-dwellings
Any answers are appreciated.