ARVE Error: Mode: lazyload not available (ARVE Pro not active?), switching to normal mode
Investing in granny flats can be a great way to improve your cash flow but there can be some negatives also. In this episode we talk about the pros and cons of investing in granny flats when implementing the 2 properties to financial freedom strategy.
Book a free property strategy session – https://onproperty.com.au/session/
0:00 – Introduction 0:26 – What exactly is a granny flat
The Pros of Building a Granny Flat
1:48 – #1: Generating extra/positive cash flow 4:18 – #2: You get 2 sources of income, diversifying your risk 7:04- #3: Granny flats are quite easy to rent 9:34 – #4: They don’t reduce the rent of the front house much, if at all 11:50 – #5: You can depreciate much of the granny flat yield 12:14 – #6: It doesn’t seem to have a negative impact on capital growth 13:57 – #7: It can give you a clear path to financial freedom 14:57 – #8: You don’t need to own as many properties to achieve financial freedom 19:50 – #9: Granny flats can add to your serviceability for future loans
The Cons of Building a Granny Flat
16:28 – #1: They don’t tend to add equity/value above the build cost 18:20 – #2: The money you invest into a granny flat you can’t use on other investments 20:12 – #3: Sometimes we see a slight drop in the rent of the front house 21:04- #4: Your property may take longer to sell *unconfirmed 23:05 – #5: You’re not going to have 2 separate titles, it will still be on one title
DISCLAIMER No Legal, Financial & Taxation Advice The Listener, Reader or Viewer acknowledges and agrees that:
Any information provided by us is provided as general information and for general information purposes only;
We have not taken the Listener, Reader or Viewers personal and financial circumstances into account when providing information;
We must not and have not provided legal, financial or taxation advice to the Listener, Reader or Viewer;
The information provided must be verified by the Listener, Reader or Viewer prior to the Listener, Reader or Viewer acting or relying on the information by an independent professional advisor including a legal, financial, taxation advisor and the Listener, Reader or Viewers accountant;
The information may not be suitable or applicable to the Listener, Reader or Viewer's individual circumstances;
We do not hold an Australian Financial Services Licence as defined by section 9 of the Corporations Act 2001 (Cth) and we are not authorised to provide financial services to the Listener, Reader or Viewer, and we have not provided financial services to the Listener, Reader or Viewer.
"This property investment strategy is so simple it actually works"
Want to achieve baseline financial freedom and security through investing in property? Want a low risk, straightforward way to do it? Join more than 20,000 investors who have transformed the way they invest in property."