Unique Property Saves Money and Captures Water Views

Got a very interesting example of a property investment where the owner has trucked in an older house, raised it up over 3 metres in the air and is filling in underneath. A unique way to take advantage of the water views and construct a new property.

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Transcription:

Ryan 0:00
Got a really interesting one to show you guys today, Ryan here from on property helping you achieve financial freedom and Ben Everingham from Pumped on Property, we were actually here inspecting will these two properties up here, which was to jewel ops that client purchase and we just saw the one next door, which we think is a really interesting investment opportunity and how to talk to the concrete here a bit about what the owner is doing on this property.

Ben 0:26
Yeah, so it’s kind of different. It’s not something that, you know, we’ve done personally, it’s not something that I can speak about from my own experience. But, you know, effectively, we’re on the right side of the hill here, looking down at the beach.

Ryan 0:38
And I’ll just show you guys, as you can see, the water is actually just down there, I think you should be able to see it in the video. But now what

Ben 0:47
is this place recognize these, you know, he’s probably had a vacant piece of land here, or maybe he’s bought down and knocked down. And then Ron was just speaking to the concrete Did he say he bought this house. So

Ryan 0:58
this house was actually purchased from another suburb, and was actually tracked here. And yeah, brought here onto site. And then obviously raised up so you can see the property on the front door is actually all the way out there. You can actually get inside without a ladder at the moment, but they’ve raised it at 3.2 meters, he was saying, and the concrete was saying that the views are absolutely amazing. Not only can you see the views over there, but over and over the back there as well. Yeah, so obviously, the owners taking advantage of those views.

Ben 1:32
Yeah, I think what you’re going to see like a lot of other suburbs closer to the City of Sydney, Melbourne, as well as Brisbane have done this. But this is honestly one of the first times I’ve seen it out here on the beaches. And for me, that’s really exciting because he’s got this old school, you know, three bedroom, probably one bathroom home, which he’s raised up, he’ll probably fill that in by the looks of it, or at least partially filled that in downstairs to probably turn into a five bed, two bath or a four bed, two bath. And he’s probably picked up the block for a good price A while back. And he’s obviously picked up this home for steel. And you know, this will be a beautiful, probably Queenslander style or Hamptons looking home by the time it’s all finished with these gorgeous views. And it’s just kind of interesting to see something different happening. It’s nice.

Ryan 2:14
Yeah, so not I’m guessing this is probably going to be an owner occupier, just a single income home or something that the owner himself will move into, and just turn the downstairs into living area. And then obviously keep the bedrooms upstairs. Yeah, assume because it would just be too hard to remove so many walls and stuff, a lot of houses where you’ve got the views might do opposite layout, we’ve got the living upstairs. So

Ben 2:40
yeah, I’d be if I was him, I’d be definitely doing the living upstairs. But I don’t know what the existing home look like and stuff like that. But I just think, you know, this is something that a lot of people, my brother in law, has been doing this as a project for quite a while in Brisbane and speculating over the last 10 years and making really interesting sort of chunk style deals as opposed to the long term buy and hold strategy that Ryan and I have. But it’s really nice to saying something with a bit of character, something you’ve made a difference. And you know, plenty of people I assume over the next 15 to 20 years, we’ll look at places like this, see what he’s done and sort of copycat it.

Ryan 3:14
And then not only is this obviously great for the person who’s purchased the property, but then for the client have Pumped on Property who actually has two blocks to dual income properties next door is that this is obviously increasing the value of this property, you’re probably going to be looking at a four or five bedroom property by the time that this thing is done, which is going to like it just raises the standard of the suburb raises the standard of the street, when you see those renovations happening. And something else that was really interesting is that we were talking to the concrete, who is a local around here, and he was talking about how the area has changed so much about how this used to be, you know, Darrow Ville and very dangerous and how it is now I think coming and just completely change.

Ben 4:00
Yeah. So you know, that’s what happens in anyone that’s grown up in Sydney or Melbourne understands that what was something 25 years ago was very different 15 and now today, and that’s what happens slowly over time. People recognize that there’s water just down the street and you know, people start taking advantage of that. And you know, I’m excited to see this area and Brisbane to evolve over the next 15 to 25 years and just say these places that will want you know be get a turn real nice.

Ryan 4:26
Yeah. So yeah, really interesting thing that they’ve done here, something a bit out of the ordinary that we just wanted to show you.

Ben 4:33
Yeah, that’s pretty much it. Just have a little sweet

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