Small Dual Occupancy Tour: 3 Bedroom House + 1 Bedroom Flat

Today I want to show you through a small dual occupancy property built on land just over 400 metres squared. One side is a 3 bedroom 2 bathroom home and the other side is a 1 bedroom 1 bathroom granny flat.

Book a Free Property Strategy Session

0:00 – Introduction + property details
1:19 – Walkthrough of the 3 bedroom side
1:37 – Single car garage + laundry space
2:01 – First bedroom + bathroom
2:22 – Second bedroom
2:47 – Master bedroom
3:22 – Kitchen, dining and lounge space
4:25 – Alfresco area + backyard
5:33 – Walkthrough of the 1 bedroom side
6:14 – Lounge and kitchen area
6:46 – Bathroom
6:55 – Main bedroom
7:25 – Who is this property suitable for?

Transcription:

Ryan 0:00
hi ryan here from on property and today we are going to do a walkthrough of a small jewel occupancy property so this is a property that the team on pumped on property help picked up for a client actually super interesting opportunity because the client actually got two pieces of land next door to each other in a suburb that is already established so as you can see as we look around ben’s filming out there he’s gonna film in the other place you can see the existing houses even next door you can see they’ve raised that up we’re gonna do a renovation underneath there probably fill that in we’ve got nice houses next door so i think coming area here small blocks of land purchase for a round about the 300 and i think one was purchased for 361 was around 312 or 315,000 they got the build for around 240,000 which i think is much cheaper than what you would get at market value which i guess is one of the benefits of working with pumped on property is to have relationships with builders and so they’re able to do that but all up you’re looking at each property around about that $550,000 mark to get to income so this clients got four incomes from the two properties we’re actually the first people here so it’s just been finished she’s the keys have just been handed over and so we’re going to do a walkthrough so what we’ll do is we’ll start with the three bedroom i’ll walk you through and see if we have done a full walkthrough of the other property talking about the numbers and everything but i just thought you might want to see what a dual income property looks like for people who haven’t watched that video so as we walk in we walk into the single single car garage here and something about this is that they wanted to maximize space so we’ve got our laundry here tucked away in the garage so still able to have a laundry but it doesn’t really impede on much of the rest of the house as we went through here we’ve got our linen press and storage and then we come through this hallway into one of the bedrooms as well as the main bathroom for the house so we’ve got a separate toilet as well as shower vanity and a bath in there so families obviously love having a bath in the property and so we’ve got that in there novak in the en suite which you’ll see we then come into the second bedroom here and something that ben was saying in the previous video is when you’re doing these new builds you really do want to have the bedrooms be over three by three meters squares i think this one’s slightly bigger than three by three and then all these bedrooms have built ins as well so there’s the first bedroom second major was still coming down the hallway towards the kitchen and the lounge area but that’s when we come into our master suite here now this is nothing extravagant as we said this is a small block of land 400 square meters there are limitations on how much of the land you can actually build on that as you can see it’s just quite a reasonable size main bedroom enough room for a queen size bed in there but not a lot else and then we have a walk in row as well which is very desirable and then we have a really nice own suite here with a shower vanity and the toilet there and so that’s the three bedrooms then we come through to this open plan kitchen dining lounge space we have the kitchen here with you know lots of cupboard space and things like that we’ve got room for a decent sized double door fridge there as well we’ve got

we’ve got a dishwasher you’ve got facing everything you need in a kitchen looking at the lounge room it’s quite a compact lounge room so you can’t fit there’s room for you know maybe a floating couch in here with your tv over there or you could have you know two seater to save to to save couches you know i’m not the interior designer not a lot of room for a dining table in here you do have the breakfast bar so you do have the bench here where you can put stools to sit at and there is actually room for maybe a small round dining table in the corner here or maybe in the corner over there but you’re not going to get a big sized family dining table in here so it’s a compact lounger but again it feels really nice and then we come on to this alfresco dining area so up here in brisbane obviously it gets a lot warmer having this outside space is very important so you could have some dining room out here or just some chairs and lounges to hang out in it’s really nice and then as we come down the back here we have the backyard so a little step down to the backyard and you can see that this is a decent sized yard so not huge but again a very very small block and they’re able to build a jewel occupancy property on it and get two incomes from this property so About $550,000, approximately able to rent out this three bedroom for probably around the $400 mark and the one bedroom, which we’re going to walk through right now and probably rent for around $270 per week. So all up getting $670 of income. Plus this is a new build property. And so you’ve got some depreciation on the build as well, liberal got into government’s and negative gearing is still in play there. So for people with high incomes, some people want to get that depreciation and the new build property. So for the one bedroom, we come round to the side, they actually have their own parking space, which I will show you from the street is that you can see, we’ve got Okay, the main entrance of the three bedroom, they actually have their garage, which I showed you, they can park in front of their garage as well. So effectively two spaces for off street parking for the front home. And then the side here this pergola thing is for the one bedroom property. So both properties have off street parking, and they share the driveway, this could potentially be enclosed and turned into a carport as well. And as we come through, we just go down this little side access here to the front door. Now coming in here, well, there’s a hose that nearly tripped on this is a nice cozy one bedroom, this is 45 square meters. So it’s not big by any stretch of the imagination. But we can see here we have a little sort of lounge area here into our kitchen, which is quite compact, but again, done to a really nice standards to fit in a dishwasher as well. And then we walk through the property

down here into the bathroom, shower, vanity, and toilet. So actually quite a decent sized bathroom for a one bedroom property. And then down into the main bedroom, which is a similar size to the master bedroom in the three bedroom house that we just looked at. And they have good size, inbuilt rows in here. The downside, I guess of this one better is just the lack of the outside space. So you do have the front door, which is private, which you can leave open. So it does feel quite open. But you don’t have a courtyard, you don’t have a backyard or anything like that. So this would appeal more to individuals to young couples to fly in play out workers and things like that. This one bedroom is obviously not really for families with kids. But something like this is actually quite in high demand on the market, brand new in really good condition. And there’s just a lot of demand for this sort of stuff. And so these tend to rent pretty well, I think, Pumped on Property have been about this layer, they’ve done about 1010 times or so maybe 12 times and the demand and the rental rentability of it has been really good. And you do get high quality tenants as well in these properties. So we’re not really looking at the low end of the market here. Given that it is new stock. As you can see, we’re the first people to walk through it. So there you have it, they have a walkthrough of a brand new jewel occupancy home on a small block of land, around 400 square meter block, I think about a 10 meter frontage for the property. It’s amazing what you can build, if you know exactly what to do. And that’s one of the benefits of working. Okay, so we’ve Pumped on Property is they know exactly what to do. They know which layouts work and which ones don’t, because they’ve done this so many different times. So really exciting, really exciting opportunity for this client who was able to purchase these two investments, they’re going to be rented out very soon, likely going to be in either positive cash flow, or cash flow neutral situation. So the property is going to take care of themselves and the tenants will actually be paying off the mortgage for this client. And I think the next step for the client, they’re looking to purchase their own principal place of residence in the next couple of years, let these take care of themselves and pay themselves off in about 15, maybe 20 years, the properties will be fully paid off, and then they’ll be able to live off the rental income or use the rental income to subsidize their life. So not an extremely difficult thing to do. But obviously you can get some great results. So I hope that this walkthrough has inspired you and showed you exactly what a smaller jewel occupancy property will look like. I will be doing videos on a larger jewel occupancy property and showing you that obviously on a bigger piece of land, you can build something like a four bedroom house and maybe a two bedroom secondary drawing rather than three and one like we saw here. So really exciting opportunity. If you’re looking at investing in something like this, but need some help, then then and the team over Pumped on Property are offering free strategy sessions. So head over to onproperty com au forward slash session that strategy session goes for about an hour you get on the phone with them talk about where you’re at talk about what you want to achieve in your property investment journey and then they can help design a strategy for you and that you can then go and implement yourself or you can actually hire them to actually help you do something like this and build a property or maybe you want to buy an existing property and build a granny flat whatever you do is up to you but yeah go to onproperty com au forward slash session to check out the calendar and book in a time that suits you if that’s something you’re interested in otherwise i wish you the absolute best of luck in your financial freedom journey and until next time stay positive oh and by the way the water is right there