Hi guys.
My new place has an old dairy on it l want to turn into a rental .
lt could make either a 2 flat duplex style rental or we could turn it into just one house , or we could even turn it into a 3 smaller overnight type accomodation set up . We are 10 min’s out of a very high tourist spot but l don’t know whether the 10 min’s out bit would ruin that idea ?
Wondering which would be the most reliable / steadiest .
The 2 flat duplex would bring in more than just the one house but we’d need two steady tenants .
The over night thing , would bring in the most [ if we got customers ] but there is alot of those around already and b&bs , all types .
Just one house cabin type set up we feel would be the steadiest and you only need one good tenant , but wouldn’t bring in as much as either of the other two , providing you got customers that is .
We’re just wondering if there was any rule of thumb on any paticular type of rental that tends to be the most dependable or ?
Cheers .
MkcJust gut feeling (no stats to back it up), I would go for the 2 flat duplex. It wouldnt cost much more to build and I would be thinking steady rental from the people who come into town for jobs serving the tourists. With B&Bs yes there are a lot (converted dairy charm factor is good) but they seem to charge a fortune and can you get steady occupancy. Miss a couple of weeks through the dead season and you still have to pay the bank. My .02 worth.
Fern
My husband and I stayed at spot in Canada that might give you another optoin….It was a camground that was set up on the land of an old farm a short drive from the town. There was a house insitu where the owners lived and the only other structure was a bathroom block. It was awsome value for us as travellers and low admin for the owners…
So if you wanted to go the 3 accommodation units, you could have one of these occupied by a manager that would also run the campsite with a discount in rent etc…You would obviously have to check the leaglities with Council regarding the campground…
Just another way to cash in on the tourism….
From a happy traveller,
Mapleleaf
Achieve the Dream!
Thanks for the imput guys.
Wish it was in Byron , old dairy anything goes like hot cakes there.
The camping thing . Great idea if it was a more camping type of landscape , l’d hate to go through the permits and regulations you’d need in OZ though . l wish all the other overnight places here weren’t so cagey but l can’t get info out of them .
Big believer in gut feelngs though Fern . The only worry we had with a duplex was that it’s normal in a suburb but being so close might turn people of on an acerage situation , it’s a tough call .
Kingdom [ if l had one ] for a crystal bowl .
Cheers
Mkc
PS . Wonder if there’s places you can get stats for an area on things like this ?what would the resale value be on a structure that was built on your block, if it didn’t work out as a rental and you had to sell, could you get some money back on it!
always consider contingencies! anything could happen!
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That’s abit the catch , l doubt l could get an approval to subdevide the old dairy to sell it unfortunately so whatever l turn it into l’m stuck with . Wish l could with it turned into a livable building probly be worth 300 l guess because that parts got sea views.Cheers
Mkc i would love to give you a hand i have a great relationship with a ton of the B+B’s around Vic and consulted to heaps of property developers and the like, the list goes on and on…
Best mate and his wife are proffesionals in 5 star accomodation management and marketing…
Besides the fact i have lived in about 100 houses all over Aus and OS…
Drop a line if you would like to shoot around some ideas, we could get a thread going on it mate?
“ask and you shall recieve”
Sincerely, Jarrah
++CASH FLOW PROPERTY HUNTER
(your not hunting if your not hungry)[email protected]
Climbing & Consulting
Arboricultural Services
0431433288
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“be ye angels?”,
“nay we are but MEN!”Mkc i would love to give you a hand i have a great relationship with a ton of the B+B’s around Vic and consulted to heaps of property developers and the like, the list goes on and on…
Best mate and his wife are proffesionals in 5 star accomodation management and marketing…
Besides the fact i have lived in about 100 houses all over Aus and OS…
Drop a line if you would like to shoot around some ideas, we could get a thread going on it mate?
“ask and you shall recieve”
Sincerely, Jarrah
++CASH FLOW PROPERTY HUNTER
(your not hunting if your not hungry)[email protected]
Climbing & Consulting
Arboricultural Services
0431433288
http://friendlyfarms.org.au/
“be ye angels?”,
“nay we are but MEN!”
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