It’s my 18th coming in a few months and my Dad has given me an option of a car or a deposit for a house with security for the loan.
Im opting for the investment property but the only catch is my Dad wants it in my suburb. This suburb is 11km from the CBD of Melbourne where the average house is about $220 000 and rent is about $200 a week.
I was thinking of buying a property, putting a unit or bangalow in the back to improve my CF and value in the property. Where can I find the costs of developing a unit on a property (and what are the cheapest methods of getting a unit like a removable home)?
Are there any other methods I can use to dramatically inccrease CF and value in the property? Any advice into turning this situation in to a positive would be appreciated.
Help would be appreciated
JamieGood choice Jamie. If i was 18 Id be getting around on a moped. I still might but the kids would soon complain about running along side.
I rekkon yud have to contact a few builders to get some idea of the cost. I tend to purchase highset houses so I can wack in a granny flat to rent out downstairs.
good luck
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