Hey guys, it's Ryan here from on-property and welcome to another episode of on the road
where we go on the road with a buyers agency team over at pumped on property and look at
real properties that are on the market today. That could be a great opportunity for someone
out there. Now we're not going to say exactly where this property is because the clients
are pumped on property a will likely be purchasing this, but this is a really interesting and
unique opportunity. This ones on the market for offers over four nine nine. It's a three
bed, three bath property and as you'll see in the walkthrough downstairs isn't illegal
height with the exception of maybe one or two of the bathrooms downstairs that are legal
height. So you have this a lot in Brisbane where you've got these. Queensland is where
the house is up top and underneath was just not legal height.
You can't live under there, but some people do them up. This property that have done it
up downstairs, but you can't advertise it as having that extra bedroom which they obviously
using the utility room downstairs for so effectively it's a three bedroom, three bathroom house,
but as you'll see through the walk through the downstairs area is quite livable. You've
also got really interesting. You've already got the drivable side access for granny flat
and it's not just room for drivable side access. It's actually already built in, so it's full
of stuff at the moment, but you've got a driveway on the side that can fit two cars. That actually
goes down to the back of the house and you've got a garage as well, so the front house you
could obviously get the carriage and then they can park on the driveway as well. And
then the side to side carport you could give to the granny flat occupants down there.
There is a large shed in the backyard that you would probably need to knock down in order
to build a granny flat. Some landscaping that might need to be done obviously, but definitely
granny flat potential in this property. So looking at the numbers offers over four, nine,
nine. I'm not sure what this would go for that Simon's expertise, not mine, but I did
speak to the agent and I was saying in terms of rental appraisal, probably looking over
$500, but again, the agent isn't a rental agent so they weren't 100 percent sure on
that. This one's kind of in the upper price range of the area, so you wouldn't find many
properties as expensive as this in the area in terms of renovation potential of the property
has been pretty well done. As you can see through the walkthrough. The property has
had a lot of work done to it, so it's not like a previous property that we looked at,
whether it was huge renovation potential in this one.
There's probably not as much renovation potential, but real solid brick home with that granny
flat potential. Really exciting opportunity. Simon's just going through and filling out
the inspection checklist and checking everything way more thoroughly than I will. So we'll
check in with him in a second and see what he thinks of this property. But if you guys
are interested in working with pumped on property to help them find you secure properties like
this, uh, as well as properties where you can build a granny flat, then head over to
on-property dot com dot a u, and you can book a free strategy session over there with the
team. You can get to know them, you can talk about your situation, where you're at, where
you want to be, and see if it's a good fit to work with them to help you get into a property
like this where you can get a good solid property. You can then build a granny flat to manufacture
that cashflow and hopefully have a positive cashflow property, a good foundational property
that will then go to pay itself off. So head over to on-property dot com dot a u to book
a Free Strategy Session with them. And we'll throw over now to Simon to see what his thoughts
are on the property. So I've got Simon with me hand. So he's just finished his inspection
on the property.
What do you think? Yeah, just finished up having a bit of a chat with the agent to just
get some expectations around why the owners are selling. They want to purchase some land
out a little bit further west than here. Get Out of what they think is the hustle and bustle,
but there's not too much hustle and bustle at this point in time. We're both from the
Shire in Sydney. It's very different, but this is really nice area. Beautiful Straight,
very high owner occupier. I'd say there's at least 75, maybe even 80 percent owner occupiers
here. The train station is about a 500 meter walk, maybe a kilometer just down the road.
The property itself is really nice. The owners of maintained an extremely well and done some
nice little upgrades so it's very low maintenance. Quite different to the one that we saw a little
earlier today that was a bit more of a renovator.
This is a renovated version of that, so it's nice to go through and see what you can potentially
do. These guys have built in underneath really well and it's um, yeah. It's a good property.
Nice. And say I ain't got that high owner occupier appeal. There is a potential for
a granny flat in the backyard if you want at some point in time in the future. Just
a little bit of landscaping required as well. So I love that. With this place, you've actually
got a driveway already down to the granny flat so you wouldn't have to pay for that.
Yeah, exactly. So yeah. Nice town property for the area. It's a bit of a more of an expensive
one, but that's nice. It's a way that it's going to be going moving forward anyway. What
do you think of that? Buying the more expensive property in the area versus somewhere in the
middle of verse and somewhere in the bottom.
I like the higher pockets of the suburb, the higher owner occupied areas close to the schools,
close to the public transport options because I want an emotional owner occupier person
to want to purchase my property in the future. So I liked the higher pockets, but I like
the rundown versions. Personally. This is only because I can get into the property myself
and do a bit of an upgrade. Your more active investor, so yeah, very much so. I want to
get your hands dirty, jumping there, do a renovation, but this could be awesome for
someone who doesn't want to do that. It's already renovated. It's low maintenance. You
could add the granny flat for the cashflow in a good area. International, interstate
investors. This is your bread and butter. You don't have to worry about it. Don't have
to worry about anything. I think the rental yield on this one would be quite good as well.
Yeah. Unfortunately downstairs isn't legal height, um, which, but it's been completely
renovated as you can see in there. So um, that can sometimes affect the selling of the
property and also the renting of the property because you can't actually legally market
it as those being bedrooms and bathrooms. Yeah. But then people will obviously walked
through it and see it and they kind of take that into account. They're going to be renting
the property or buying it. Exactly. It's that weird loopholes thing. Yeah. So yeah. Interesting
one, I like it. What were your thoughts? Yeah, I really liked it. I liked that it was fully
renovated stairs because you can't legally advertise it as that I could see. Yeah, the
fact that it's already done makes it. If it's not something that as an investor I would
put the money into doing that because I feel like what you spend downstairs you probably
not going to get back yet, but because someone else has already spent that money and I can
see tenants walking through and thinking of utilizing the space even though it's not legal
height, you know, the utility room that they can use, but because of that, because I think
they're kind of overcapitalized there on that downstairs section that can be a good opportunity
and just the low maintenance aspect of it with the granny flat to improve the cashflow
and then the fact that you may have a good rental yield on the property itself anyway.
It's just kind of, it looks like one of those low maintenance simple properties. Yeah, I
agree. Cool. Sweet. Anything else to add? Um, Nah, Nah, pretty excited to get some feedback
out to um, a few of the people that are, that have flagged this one is one that they would
like us to checkout. So, um, so I don't imagine that this one will stay on the market very
long. I think the open for inspections this weekend, it'd be interesting to see whether
you guys close it before then. Yeah, we'll see what happens between now and then. Um,
I think there'll be a fair few people at the inspection for sure. Awesome. Well thanks
for watching this episode of on the road guys. Go ahead and check out that previous property
we're talking about, which was the renovator or we've got a development opportunity one
there as well and I'll leave the links of that in the description down below. Thanks
so much for watching. And until next time, stay positive.
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