Particularly interested in the pros and cons as an investment compared with a conventional house. Yield is expected to come in at 7% or better.
Long term would you expect its capital growth to be similar to surrounding properties? I understand that a property like this would be more difficult to sell, though am looking at it as a long term hold.
Am also trying to determine what kind of premium it is worth paying to get a higher yielding investment.
Ideally want it at price of a similar regular house, but have to figure out if a premium of say 5% - 10% would still be a reasonable deal.
Don't suppose anyone has a nifty formula that would help?
Have read numerous threads covering legalities, and practical points regarding mail, power and rubbish bins etc and think I am up to speed with those issues.
Long term would you expect its capital growth to be similar to surrounding properties? I understand that a property like this would be more difficult to sell, though am looking at it as a long term hold.
Am also trying to determine what kind of premium it is worth paying to get a higher yielding investment.
Ideally want it at price of a similar regular house, but have to figure out if a premium of say 5% - 10% would still be a reasonable deal.
Don't suppose anyone has a nifty formula that would help?
Have read numerous threads covering legalities, and practical points regarding mail, power and rubbish bins etc and think I am up to speed with those issues.