Granny flat in Raymond Terrace

Couldnt you rent a house for what you would want for your gf in the terrace?? Would you get a tenant easy out there?

 

Yes you could, however this GF will be a brand new 2brm house on it's own battle axe block.

Camparitivly the house you would get for the same money would be an 80m2, 60 year old, fibro ex commission home.

I'm not advocating that it's a ripper spot for all to do GFs, but I'm confident it will work in my situation, and it's the best move for point I'm at in building my portfolio.

 

The PM I spoke to is not in favour of it. However I think he is wrong. Perhaps it's because it is not popular there yet or hey don't know how to handle. But this could be an opportunity as less competition. There are too many GF in Sydney..

 

Update - this builder has just ended our contract and mailed me a cheque back for the deposit I paid.

No explanation or phone call, just a letter and cheque in the mail. They have been stringing me along for a month now since signing the contract and paid all council fees etc.

 

better that way than when the construction has started, i say.
I had similar situation in sydney last year.. he milked my for 6 months. no money lost though just time.
you should have a look at the shell/frame in Heatherbrae (on the highway) when you're out there next time.

 

Yeah better this way, just frustrating wrt lost time.

I'll check them out next time I'm there, cheers.

 

Striple I'm taking over your thread .

Follow up from my earlier posts in this thread and a thread I had on somersoft last year:

Minimum return you'd do a Granny Flat for? - Somersoft Property Investment Forums

Finally made a decission and found another builder for my Granny Flat.

Cleared the site myself last year before the other builder pulled out. There was a lot to be cleared, spent a day cutting it all down and took another day to run it through the 100mm chipper, got plenty of chips now, several trailer loads! (didn't get any before pics).

 

New driveway for the front house, the GF will be like a battle axe set up. 20mm road base with a 3% cement mix through it, treated pine edging and compacted. Cheap driveway, $600.


Cutting and footings

 

Flat pack house!

 

Very nice. Did the /heavy rain floods affect you at all?

 

Very nice, how much?

 

Nice. We built ours last night and it was a joy to see the frames go up! A 2 bedder?

 

wow, you did the work yourself????? looks amazing so far

 

I'm a bit slow on the uploads and replies, I'll update numbers etc as I get a chance.

 

No not at all, it's the old housing commission area. They always seem to be in high and dry areas.

The contract is for $78k, excluding the kitchen, painting and flooring which I'll do myself....And of course excluding the S94 fees, and drafting.

Nice, where abouts? I've always been fascinated watching house frames go together. Yep 2 bedder, 60m2, it seems huge compared to the 38m2 one we did.

Not really....I've been on site helping with the footings, excavations etc. mentioned to the builder I'd like to be part of putting the frames up....to satisfy my own curiousity and learn a few skills to help with the little handyman biz I'm starting.

So the builder agreed and it was just him and me putting the frame up.....I really enjoyed it! In return....I learnt a few things and he is also making me a web page for my biz (web design is sort of a hobby biz for him).....he has also offered some paid work on his next build.

 

@Coconutwheels what a great experience. Mine is in the back of my house in Parramatta area.

 

Awesome man... do you mind if I ask what street its on? and How big is the land? Will you provide some kind of carport for the granny flat? My property is on Parkway Ave... around the mid 600sqm... How much rent are you anticipating you'll get? Can't wait to see how you go with this... Might be the nudge I need to make my granny flat happen

 

Phillip Rd. 680m2. The GF will take the existing carport which is down the side in the backyard.

I'm working of $250/week, but I'll be disappointed if I can't get more to be honest. I'll keep the thread updated as I progress.

What year did you buy?

If I was sill in acquisition mode I wouldn't be doing it, so I guess just asses where you are at/aiming.

 

I bought it a year a go... If you can get more than $250, that would be awesome... Yeah it'll be great if you can update this thread

 

Any updates @Coconutwheels? Really interesting thread