G'day All,
One of my goals this year is to increase my cash flow to $xyz which is about another $20k p.a. The RBA has done some of the heavy lifting already
The other low hanging fruit I'm considering is a granny flat on my Raymond Terrace property.
The block is suitable for it, but it is in one of the rougher areas of RT (though I've never had any dramas there).
Best case figures I think would be :
$90k build, rent $270/w = $7,704net (15.6%gross)
If I'm way out, worst case :
$90k build, rent $230 = $5,807net (13.3%gross)
Somewhere in between, shoot for a cheaper/smaller build 40m2:
$80k build, rent worst case $230 = $6,307net (15%gross)
So what are your thoughts, who'd be onto it like "white on rice" and who'd be like "I don't get out of bed for less than $10k"
Cheers,
One of my goals this year is to increase my cash flow to $xyz which is about another $20k p.a. The RBA has done some of the heavy lifting already
The other low hanging fruit I'm considering is a granny flat on my Raymond Terrace property.
The block is suitable for it, but it is in one of the rougher areas of RT (though I've never had any dramas there).
Best case figures I think would be :
$90k build, rent $270/w = $7,704net (15.6%gross)
If I'm way out, worst case :
$90k build, rent $230 = $5,807net (13.3%gross)
Somewhere in between, shoot for a cheaper/smaller build 40m2:
$80k build, rent worst case $230 = $6,307net (15%gross)
So what are your thoughts, who'd be onto it like "white on rice" and who'd be like "I don't get out of bed for less than $10k"
Cheers,