Hi,
In searching for a property I have come across a unique residence that contains 12 bedrooms, 2 bathrooms 3 separate shower rooms 6 toilets, two living areas and a commercial kitchen.
The residence is located about 40km from the CBD and was previously used for special care accomodation and is now vacant. I’m looking for ideas as to what this type of residence could be used for. Ideas so far are day care centre, professional consulting rooms or backpacker accomodation.
Does anybody have other ideas on what this property could be used for?
backpacker accomodation is a really good one, they usually pull in a bit of cash, but it being so far from the CBD your likely to get long term stayers, not short tourity ones.
doctors surgery?
could you hire it to the local school if they are running out of space?
accountants office?
bachelor accomodation?
student accomodation?They are all good ideas thanks dohicky and I appreciate the time you have taken to assist me.
The problem I see with some of the ideas is that a live in manager would be required and I don’t want to tie up my time doing this. Being so new to the property investing game I need to spend time learning stratagies and processes rather than managing a property. I have not ruled this out completly as an estate agent could work as an off site manager. I would welcome others thoughts on this.
Over night I brainstormed with myself[blink] and came up with a couple other ideas, these being a music lesson studio or a cooking class studio with overnight accomodation. As the kitchen is a comercial kitchen I figure it would be ideal to run cooking classes from. With 12 beadrooms some could be turned into individual class rooms for music lessons.
I’m going to view the property today and see what is needed to convert it to a usable facility. I have also thought that I should send letters to music schools, cooking schools, primary & secondary schools, aged care facilities, doctors, accountants etc in the area advising of a property becoming available and see what response I get.
Just wondering from those that have done this before, is it better to telephone, mail out or approach face to face? I see that face to face would be very time consuming and that telephone may not reach the person (owner/manager) required to make the decission.
Is this property in montrose I think I saw it the other day.
450k comes to mind .
If this is it and you have the time it will be a good investment was thinkin of buying it myselfMonopoly, my favourite game
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