We’re looking at a 750m2 property in Geelong for $160K with a bungalow out the back. our plan is to rent out the house then do up the bungalow and rent it out as a 1br place with a garage. What do you think?
I think you need to flesh out your post with some more figures, ie what they’ll rent for etc
cheers
rpotential rent on the house is around $165-170/month more if we update the house a little. if the bungalow is serviceable, we plan to do it up put a fence between the house and the bungalow (which is attached to the garage) and rent it out for $110 per month. Our house is worth $370K (conservative estimate) and our mortgage is $250K with no other liabilities. I’ve been doing the sums and am not sure if its ok or not. We hope to subdevide the land before we sell it when the market is right.
You need to meet the ‘Battle-Axe’ block experts. They are in the Mappers group. Send out a call for ‘Battle-Axe’ Experts.
In case you are wondering, what you want to do to the block is known as a ‘Battle-Axe’ Block.
Robert Bou-Hamdan
Mortgage Adviser0414 347 771
[email protected]
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Comments made are of a general nature and should not be construed as individual advice.
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