1 investment property and PPOR farmlet

Hi all. Im in mid north coast and been in to property as a way to build wealth since leaving uni. it hasnt made me rich quick as I thought it would, however I now see it as a way to slowly build wealth. I have one IP with a granny flat. Interestingly the granny flat was a removal house (cut in half and delivered by truck). It made the property cashflow positive and I'm paying down the debt. Im also a keen subscriber to the barefoot investor.

 

Hi Nico!

Welcome to PC!

How did you go on about finding the granny flat? How was the process of delivery and then installation?

 

I just called up the local house mover and asked if there was anything available around the 60sqm mark. I got something a little larger, and had to remove a wall to turn one room in to a verandah to bring it in under the 60sqm mark (which is the max size for a granny flat).
The install went well. The house mover was very experienced and managed removal, delivery, reassemble and stumping. I did all the service connection and minor renovations. I basically ended up with a granny flat for about 2/3 of the price it would have cost me to build it from scratch. It also felt good to recycle a house! It felt like lower risk too as the building process happened much quicker and with less moving parts than a build from scratch scenario.

 

welcome to the forum @Nicco

it really is a slow process, isn't it?

what are you looking at achieving? and what are you looking doing next?