Hey guys..
Im new to the forum.. Been looking around for ages for a property investment, and i think i have found the one.
But first i want to ask you guys for advice.
Okay the property is located in Guildford West (Sydney). It is a dual occupancy where a stand alone studio (granny flat) is at back.
Asking price : $350 000 (hopefully can get it for $345 000)
House is currently rented out for $300 p/w (slightly under priced)
Granny flat is rented out for $200 p/w
I will put around 60K/80K deposit.
What do you rekon? go ahead? Sounds like a Positive cash flow investment to me
Cheers
Sounds like good cashflow to me! Just on the numbers alone, my interest would be there. It would be very interesting to know if the council would be likely to permit a subdivision, thus putting the granny flat on its own title. This would be useful if you wanted to sell it off. No point if you're going to keep the whole property. All you'd achieve is having to pay two sets of council rates rather than one. If I were you, I would be very interested in the property regardless. I would also place a call to local council and ask to speak to someone in planning and ask if they could give you an idea of the likelihood of a subdivision application being approved.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
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