Dual Income Sunshine Coast Near The Beach | Ben’s Development Project Update
Let’s have a look through Ben’s latest development property which is a dual income property on the Sunshine Coast.
0:00 – Introduction
0:30 – The most creative project Ben has ever taken on
1:16 – Entrance and large car port
1:50 – The yards for each property
3:08 – Looking at the front 3 bedroom property
4:22 – The alfresco
6:55 – Walking through the bedrooms
9:24 – What to spend money on during a build
11:26 – Walkable side access to the granny flat
12:22 – Taking advantage of the layout of the block
13:30 – 60sqm granny flat
14:25 – Being thoughtful about design
16:12 – Don’t underestimate the value of privacy
17:22 – Making this property more sustainable
18:44 – 3 different rental options on this type of property
19:29 – Why Ben can do this more advanced strategy
20:51 – Getting the fundamentals right
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Here we are at Ben’s latest development project where he’s building a five bedroom three bathroom home. Well, it’s actually a dual income property. So the front half of the house, which we will walk through is three bedrooms, two bathrooms, and then the back half is two bedrooms and one bathroom, actually, really unique development project that he’s working on with his wife, where there’s actually two little punch balls in each of the houses. And so it’s gonna be really interesting to have this unique project that you guys are working on.
Yeah, so this is something different than we’ve ever done before. You know, and it’s also just really the most creative project you’ve probably done, you’ve sort of walked through probably three or four different places over the years now. And you know, you know, for us, we’re very moderate. But this is our sort of splashing out a little bit on colors and stuff like that, too.
Yeah. So a lot of the previous properties that you build might have been to live in yourself or just kind of spec home sort of things. Yeah. And it’s quite windy here. So there might be a bit of camera shake. But yeah, a lot of it was very standard. Whereas this is, as you said, more splash of color, more creative, more interesting with your wife, Lisa, obviously being interior designer that does help giving her a bit more free rein I can see in the property. So let’s go ahead and have a look. And Ben will talk us through it as we go through.
Cool. So where we are right now is at the very front of the block. Now, we’ve got a huge driveway here with some car accommodation, we haven’t closed it off, this is just open sort of a big carport behind us two cars on one side, one car on the other side. And then what happens is, you know, the two Betty goes down that side. And then the three Betty goes that side in terms of entry. So check out the three that are first.
Yeah, let’s go through two, three better. So we’re currently under construction at the moment. So you may hear a fair bit of background noise as they do some digging. Basically, you come down the side here to the front. Now we can see in the yard here already, you can see the two pools that have gone in, there’s actually going to be a fence that divides those two pools. So one is for the front house, and then one for the back house and what we’ve done, we’ve done no way I’m not involved in this. But what you’ve done here is this block, actually, I guess, faces west or the backyard traditionally would face West and the North being that way, but you’ve taken advantage of the northerly aspect to put those Bulls in which I think you learned from a mistake in the past when you had a south east facing pool that was really cold. I think he jumped in the pool with me once
after workout in winter and it was literally like we had seven degrees and that was like a South dating pool. So we have learned our lesson now because the blocks so bloody wide. There’s heaps of room down the side we’ve squeezed out house hard on the other side to create this like nice outdoor sort of garden entertaining pool area, which, as Ryan said, should stay warm mostly.
Yeah, so we are on the Sunshine Coast here near millibar. So about 1.2 kilometers from the beach.
Yeah, we’re super close to the beach, but not walking distance. I suppose we’re just outside of that, which I still think because of the nature of what we’re doing is going to be fine.
Yeah. Okay, so let’s have a
walk through the property. So this is coming into the three better here. We’ve got some tiles underneath this landing, which you probably can’t see properly.
This will do a walkthrough when we’re completely done.
So what we’ve got here is we step into the loungeroom living dining kitchen Alfresco. It’s just as you can hear, it’s a bit echoey still because there’s no flooring on the ground yet. But what we’ve done is a really high rake ceilings now that comes with a little bit of an extra cost, I think it would have cost us about an extra $2,000 for both dwellings. But it gives the place because it is a smaller dwelling. We haven’t overdone it, that gives a place like this feeling of like quiet and Granger. Yeah, just a little bit different as well. And as
you can see the whole orientation of the properties there you’ve got your kitchen with a bench in here that’s gonna have stone bench tops, as well as the lounge room down there. Or we’ll look out on to the pool area which is the main feature of this property is that outside space the outside living the lifestyle sort of thing so you’ve got those big triple doors times to
now come show the people some of this yeah fresco because I’m literally like obsessed with this. I think the way that people are going to be using this house is cooking in the kitchen. Beautiful big open area. You know, if it was me, I’d have all that it would like to move in here. I do live in a nice home, but you know, it’s just new. Yeah. So you know, like, you’ve got these beautiful like it’s literally 60 square meters in a three bedroom tall on the cover space, which, you know, because it’s a sunny case, you wanted to create this epic indoor outdoor sort of vibe. And then, as Ryan said before, we’ve sort of almost created like an Indonesian style vibe. Where all around the pool is going to be grass, there’s going to be bench seating, all of that fencing is going to be painted like monument dark gray and then there’s just going to be like epic you know grass around the pool where like in most of australia you don’t get the chance to sort of step straight off the grass and jump in the pool yeah it’s probably going to be a maintenance nightmare for me because all the kids are going to be jumping in and out of the pool with grassy feet but it’s that kind of vibe and then we’re going to put a little cubby house up the backyard so the people renting the property their kids can play with it and stuff like that too
yeah so it’s very much inside outside living space as you can see which i guess is pushing the envelope of inside outside design which i think is i guess the way things are moving especially up here on the coast where the weather is good we are currently in winter and you’re able to have these doors open quite comfortably and still be inside and just like a long sleeved t
shirt and we swing it so i can walk people through the kitchen because you know as you can see here i don’t even know what color it is my wife’s interior designer that it looks like a baby blue
kind of but with
a bit of gray in it with a bit of gray so this is going to be like a white stone benchtop and then the backing there which is the slash back of the kitchen you can see is going to be you know that sort of herringbone finish where it’s like laid across like that
so we’re doing that like diagonal you know lay of the tiles and then on the floor we’ve chosen this beautiful like some sort of timber
honestly that finding the opportunity and then helping the designer
finds the land and finances and then lisa does
but it’s gonna look me like it so i think
you’d be left about to us it would be half as good as leaving out to her
it’d be white and gray but that’s what we’d be looking at it he’s a nice guy
nice guy so let’s go through the bedrooms so as you can see not a huge property but big enough for a three bedroom and as we come through into one of the bedrooms here
so we’ve made them just big enough they’re all three meters by three meters but they’re not huge all of them have built in roads which i think is important all of them will have fans and obviously like either like voice lighting or downloading so they’re just enough as you the download thanks
so that’s one of the secondary bedrooms we then have some storage space in here as well as the laundry is going to go in there we then go into the main bathroom which is going to be here so as you can see the family’s going to be there we’re going to shower and then we’ve got the dummy as well what i
like about this locker again these are just a little details that i think a lot of people miss so as you can see like we’ve done no floor to ceiling to ireland because it can be very expensive but we’ve done pathway walls which makes it sort of feel a bit more premium and that’s something apparently that’s in at the moment we’ve also put like a more expensive it’s kind of like a paint tall it’s really hard for you to say it properly on the floor but when it’s planed it’ll look really nice and then just you know basic timber cabinetry but instead of just doing a standard box it’s no more expensive to create like that that type of look where laces just put a fighting shelf and that’d be a nice you know what piece of granite with a tiny little you know vanity on it so that’s a little
yeah and then we’ve got i guess not that much to look at but the second bedroom here is just the same three by three with some built in robes and we’ll go through and show you the master bedroom did we already look at that
we haven’t you know bedrooms are pretty boring during the job process because
there’s just like anything they just want walls with nothing i guess the only difference with this master bedroom same size same size three by three so not extremely big but it does have an on suite and so again with the same style banding we’re going to have a yeah we’ve got a shower in here and then the toilet there as well so
yeah one thing that i’ve learned about building because i think this is the sixth or the seventh sixth or seventh property that we’ve built now um you know is there certain things that you want to spend money on and certain things that are just a waste of money so in terms of what ryan just showed you we haven’t actually upgraded anything except for some slightly nicer tiles on the ground a slightly you know half wall finish of tiles and slightly nice add top finishes and fixtures everything else that you’ve been saying including the kitchen is actually like builder’s standard so you know on different properties you know if we’re looking at a waterfront during something you’re going to spec everything up or if it’s like an be you know one and a half million dollar property but in other areas knowing that i’m gonna hold this for 30 years there’s just no point in specking it up here when i know i’m gonna have to completely renovate again in 15 years and just lose all that money so that’s something that i’ve learned i used to sort of make them really really nice and they all make them nice enough knowing that there’s going to be maintenance in the future on that as well
yeah so obviously when you’re renting them out to other people they’re not going to maintain them as well as when you own them and when you own it as well you kind of do those little upgrades as you go along which renters don’t
do that say that’s me that makes me sad i’m looking here at the end of my
walkthrough to the second property but yeah thinking about that sort of stuff is really important as ben said because if you are going to hold a property for long term then you are you want i’m going around you can go the money path because i got a feel but yeah you are going to have to replace them every 10 or 15 or 20 years to bring them back up to that standard to continue to get the best rental returns that you can get for the property so it’s definitely something to think about when you’re doing a renovation or when you’re doing a build is how much to spend on that stuff and how much to spec it just because you will have to replace it so we’re now going down to the second property so they will park right here is that they have a single parking spot and then they will have side access so like with a lot of granny flats so we look at parking at the front walkable side access down the side this is becoming more and more common in projects that we do either for you or for clients you
know i like this as we pointed out and cut one of ryan’s videos the other way like just the the walkable side access rather than the drivable and losing all that space so when people talk about dual occupancy this is kind of neat it’s kind of a house and a granny flat under one long roofline and by building them both at the same time you actually save about $50,000 on construction costs are two huge saving doing an under one roof line rather than finding an older home and then you know building the granny flat out the back
yeah and so what courtside access is completely fine and what i love about this development project and i love that ben has done this because it is something that i guess is more experimental not necessarily experimental but the design is more intensive for this one and lisa has obviously done an amazing job is that focusing on the layout of the block focusing on the aspect of the block and to take advantage of that so we’re walking down the side access now but this is actually the south side of the property so this is where you don’t get as much sun anyway it’s not as desirable spot on the property to live so using it for side access is perfect and then rather than orientating the property east or
i think the original design was mostly west facing right yeah
so the builder design at west which is nice but on the sunny coast at 40 degrees in some with 1,000% humidity and i know and you know you and i’ve lived in west facing joints it just there’s a reason when you walk through certain properties you like that feels good to someone who actually knows what they’re doing which you know we’ve only learned what we’re doing from experience like the south side is just the cold dead part of the block on you know on this side you know particularly here so why would we you know trade any space down here it’s just gonna be garden bed nipah and then we’ve got the nice western backyard or the you know the mainly northern aspect of the backyards yeah
so as we come in here you’ll see this property i think it’s 60 square meters and so we’ll come in here and it is quite a small bathroom for the two bed property but again it’s a two bed it’s not a three bed so you’ve got vandy in here the toilet will be going in there and then you’ve got a nice good size shower as well and then we come through we’ve got a little laundry in a kind of alcove sort of thing here and then we’ve got the two bedroom so one bedroom in here is that three by three
that’s a three by 3.3
okay yeah so that one’s a little bit bigger 3.3 by 3.3 so that’s the master bedroom with built ins and then we’d have a secondary bedroom down a little corridor here again as ben said the bedrooms are pretty boring when there’s nothing in them but this is where this property really shines and as i turn here you can just see how nice this is going to be so much smaller than i guess the front property being three bedrooms having more living space rather than having a floating kitchen you’ve got the kitchen along one wall there and really basically the whole property is designed to look out onto that amazing deck and then to look out onto the amazing pool area and then so you’re gonna have obviously the pool here which has been said is going to be all grass it’s gonna be so awesome to look at maybe there isn’t much noise and then there will also be grass area downside as well so it’s so great for families great for people with young kids
and just being thoughtful around the design to like as ryan said running the kitchen along one wall when you’ve got the granny flat makes the space feel a lot bigger it makes
it feel so much bigger rather than doing a corner or something like that and even just the way the kitchens kind of it’s very much part of the space but it’s out of the way and yeah so that yeah just the whole property is designed for that inside outside living you know
it might not seem like that much but once you actually stay in a place like these so much you actually walk through it like you can really start to understand how much just those little intricacies of design you know and the the overall vibe is what we’re trying to create like you want it to be a space that you walk in from the second you look through the front door of both dwellings you’re like
that’s cool like it feels grand yeah and same in here like we didn’t have to but we’ve put this lack of break ceiling which effectively is just a diagonal ceiling and we’ve already tried that north so there’s this illusion of space extra light comes through the property and just little things like that make a big difference
yeah so this is somewhere that i would absolutely love to live as well and i think don’t also underestimate the value of privacy that these properties get so living in the back here you don’t feel like you’re attached to another dwelling and there’s going to be a fence in right there which i’m guessing will be at least six foot it’d be nice being six foot fence
edging on both sides to like create an eight foot barrier long term
yeah so long term and it’s gonna be completely private your own private little space and even looking at you looking into i guess other people’s backyards there’s not really other people looking into you in your pool and so it’s just a very private space which i think adds that extra rental value as well it’s not something that a rental manager will necessarily talk about but it’s definitely something that as people walk through a property if you can provide them with that privacy then that’s obviously desired and can bump the rents
and within a couple of years right like we’re going to put down this western side you know nice big palms that are probably between three and four meters higher and now end up straining completely those two neighbours properties out of that they’ll also create some protection from that western sun you know one of the things that i’m proud of with this property because i you know i’ve always been interested in sustainability that was something that i did at university and you know it’s not something that i could financially afford for a long time because being sustainable also means spending money but now that outtie has this incredible range of like sustainable products be at home which is the same prices like your normal products and we’re putting a big solar system on this property so that we can advertise it with you know effectively more rent but cheaper holding costs by putting a nice big water tank in there to make sure the gardens and the toilets and stuff can be fed like that’s the sort of stuff that now that i’m at these stages of an investor you know why not create a development that’s actually thoughtful and orientated the right way and more sustainable for you know me to hold for the next 30 years to on it it kind of feels more in line with my values as well
yeah so it’s really cool that you’ve been able to do that find a way to combine property and your passion for sustainability
in an investment $1,000 that i didn’t need to spend but long time you know it’s going to be nice and it’s going to run a lot cheaper for
me to own but then that’s the thing $12,000 extra costs you’ve actually thought about that and thought about the return on investment of that it’s not 12 grand that you just spent willy nilly emotionally because you want it to be more sustainable there’s actually a design behind the investment strategy behind that
yeah and you know as you can see with what we’re creating here it is different and it’s not everyone’s cup of tea but you know we’re now at a stage of our journey where we don’t just want to create cookie cutter product for us the lm portfolio we want to create something that’s going to rent for a premium so this type of property gives us three options you know one is just your long term tenant another one is like a fully furnished shorter term tenant where we get people in here for two months to six months and then we might even try and do really short term tenancy in something like aaron bay bay bay as well and so it gives me sort of three different strategies regardless of where the markets at i’ll be able to fill
it with one of those three different options and i think it’s really interesting because this is a more advanced strategy i’m going to put this down so it doesn’t shake you i think it’s really interesting that this is a more advanced strategy and something that you’re able to do because you’ve already built up your baseline portfolio you’ve already got those foundational properties in there that will go on to deliver you financial freedom now you’re like okay what opportunities do i want to explore what do i want to pursue what i want to try that can take advantage of your skills and finding deals your wife skills of interior design and property design and get the best return on investment for you does not necessarily something that everyone should go out and do but obviously it suits you at this stage of why and this stage your portfolio
you know that’s a really interesting thing you just brought up because i purely think as an investor like there’s no way that i’d be spending this type of money because as you can see like there’s things you’ve done that have spent more money if i didn’t think there was returning and for doing so so you know the cool thing about having two or three houses in granny flats as a baseline that as ron’s talked about in other videos two or three properties to financial freedom strategy i could be in a position where 15 or 20 years i might get just over 100 grand a year of income which sort of takes that insurance books and this is more likely well you know now that i know that i’m going to be fine in the future if i can just pay off all the debt this is something a bit different which i might get a higher rent return on but it still comes down to bread and butter fundamentals like number one on timing the market because i’m looking to buy queensland and heron todd rogers said that you know southeast queensland particularly brisbane and sunshine coast are at good stages of their journey i also know that the person i bought this piece of land from bought and knocked over the house in here before and effectively sold it to me for about a 90 to $100,000 loss sub tip like you’re buying below market value boxes well you know i’m gonna get great cash flow from it because it’s dual income and because of the way that we’re creating it and then i know the sunshine kosis as a long term history of solid performance with really strong population growth and infrastructure coming in so coming and doing something a bit different doesn’t mean that you don’t do the fundamental things correctly
you’re not just doing a crazy risky out of the box development that’s you minimize your risk every single step along the way and then you’ve taken very small and very calculated risks where you spend extra money so spending an extra two to $4,000 on raked ceilings is a small extra cost but it’s a calculated cost for the actual return that you get given the field of the property and then also evaluation as well given that more premium feel and so yeah and in some areas like the bathrooms added a bit of extra costs but not excessive and other areas like the most of the kitchen we’ve just done to spec
that’s right and you know i know before i bought it because i looked at the sales history data as well but there’s a guy down the street that has a 600 square metre block that thinks he’s like 950 or something he’s built a brand new home it’s just a standard four bedroom home i looked at the quality of the spec and didn’t have a pool but it was pretty you know when you’ve been in the industry for a bit you can see what standard looks like even though the builder might sell it as premium yeah and it was pretty standard and he sold it for you know literally within 20 grand of where this is you know this is an extra 350 square meters of land an extra 100 square meters and build it’s two incomes instead of one so you know again i’m not doing anything that feels like i couldn’t quantify it before i went and did something like this
yes i think it’s important going into a development to think about those sorts of things and you also have so much experience in building having worked in the building industry having built a lot of your own properties having built properties for clients so could this for someone just going out there and trying this as their first investment never having invested before probably pretty risky but can you doing it as you know you’re in the double digits in investments now and obviously having done a lot for clients it’s not it’s just it’s so normal to you that you can make those tiny changes and it’s just a tiny change to what for you is a standard build and a really easy process whereas for someone else there’ll be so much new happening that to add in those extra layers would make it more complex and complicated so let’s walk out of the problem because we do have a lot of other properties to go to and view today which we are very ben is going to look up but i hope that you enjoyed this tour of ben’s julian comm property that’s currently under development as you can see it’s a very unique one and very different it’s very exciting to see and it’s gonna be so amazing to take you through it when it’s actually finished when the pools are filled up and the yards are in here and who knows maybe maybe i’ll be staying in these properties when i come up to the sunshine coast i don’t know but it’s absolutely amazing what he has done here it’s inspiring that he is trying something new that he is constantly experimenting and seeing what works learning from his mistakes as well so that he can do better next time one of the properties that he built he did over capitalize on and it was south east facing and so he’s learned from that and so he’s added yes some extra touches but he’s not over capitalizing on the property and he’s taking advantage of the aspect of the wide block to allow those properties to face north so it’s really exciting to see some of his learning’s and see his journey and the way he’s coming and really excited to see how this property ends up and i just love it you’re excited
how are you still feeling yeah i’m just i just sound like survive and every time i say it like the process of creating something from nothing is so fun like from high it’s a sunday or it’s a saturday right we’ll literally like sitting at home we’re like let’s just have a look at mooloolaba and it was like.com and then you know 10 minutes later we’re like oh this block looks interesting 10 minutes later i’ve done all the analysis of it i’ve compared the marketplace rung up the agent he’s like hey we’re going to auction this morning i’m like okay let’s give us a call after it passes in it passed and he gave me a call i bought it that off and it was just it and i wasn’t looking like sometimes when you know what you’re looking for like when you’ve done your market analysis and when you know how to look at the right things like the ducks can line up and it didn’t used to be like that like i remember first place took nine months to find yeah but as a slug
slug and i’m simon and simon had just purchased his property and that was a slog of months of looking and making offers and getting rejected
simon i was like seven months of getting rejected every every week and he’s like yes and then it’s like damn we lost another one that’s the game like you know it was only because it passed in adoption any other year it
probably would have sold and that’s the thing you were in a position to buy but you also had your portfolio set up so that you didn’t have to buy it if you wanted to so he could take a more relaxed approach where simon was ready to get in for his first property
so it’s a bit different show and you know when you don’t care like that’s when you normally find the best deals we’re not actively looking but at the right one comes up because then you can walk away you’re not emotionally invested you’re not going to make an emotional decision just another property like there’s always another fish in the sea and that’s one of the biggest lessons i’ve learned generally when you lose something you know if you don’t get the teach by the process which i don’t anymore because there’s no emotional attachment then something better always turns out yeah
so this is not obviously not the build that you generally do for most of your clients we do tend to focus on more standard things i guess
honestly bro like as i said to you the only thing that we’ve specked out there is the roof like the ceiling and roof and the tiles as well as the top where every single other thing that you just saw including the outside of these properties just build a standard like this is the same driveway everyone does that’s the same roofing it’s the same windows like it’s that’s the product it’s it looks nice
if you’re interested in the thought of doing a brand new jewel income style project then ben and the team over pumped on property to help people do that and as ben was saying the majority of this property is back with some minor changes so you could do something not too dissimilar from this either on the sunshine coast or in brisbane if that’s something you’re interested in then the first steps is to book a free strategy session with one of the team members over pumped on property so if you go to onproperty com au forward slash strategy you can learn more about that free strategy session over there and there’s actually a calendar over there where you can book in a time that suits you you can talk about where you’re at what you’re thinking of doing and then they can help you to create a strategy that works for you then if you choose to work with them obviously you can or you can take that information and go ahead and implement yourself which so many people have done so that’s completely complimentary go to onproperty com au for strategy to check that out thanks so much for tuning into this and we will be back in a few months when this is done or probably not even that long
yes like literally five weeks away from being done as weird as that looks right now four or five weeks in complete
yeah so super exciting so what i’m going to do is i’ll link out to the free strategy session down below i’ll also link out to another dual income property that may have been walkthrough last month where you can see it down on a smaller block about 400 square meters and what they were able to do there so go ahead and check out that too otherwise until next time stay positive