I can assist you in your site selection and negotiate on your behalf as a buyers advocate. This part of the process is possibly the most crucial part of the entire process.
- Location- the location must be in an area that is going to be attractive to your target demographic, which is likely very different than the location you might like to live in and may never consider it as an option.
- Site- the site needs to be of the right size and shape to allow you to build the investment property that will maximise your return on investment. You might get a site in the perfect location, at the best price, but if it restricts what we can build it will impact your returns in the short, medium and long term. That could cost you tens, if not hundreds of thousands of dollars.
- Design- Melbourne has several “overlays” which will potentially influence what you can build, or influence the cost of building due to meeting council requirements. Not recognising these and potential increases to your build costs could significantly impact your ROI.
Feel free to source your own site, you can do as little or as much as you like, but if you would like assistance in this process, contact me direct to learn about our buyers advocacy service.
Most of us require finance when investing in property, and ironically with these rooming house builds, the more you can borrow the more you make due to your returns are typically double the current interest rates.
Class 1B rooming houses can be difficult for your average mortgage broker to finance as you need to understand the principles and returns these builds offer, and its not your standard residential loan. I have spent 2+ years finding the best in the business, and who know this space and I am comfortable referring my clients to.
If you need finance for a Class 1B rooming house build, or any other property related finance contact me directly and I am happy to make the introductions.
Finding the right builder is as important as securing the right location. To conform with Class 1B rooming house regulations, the design and build component is crucial. Any small error in design or construction will likely cost you hundreds of thousands of dollars and potentially the requirement to remove the building and start again.
I have sourced the top rooming house builders and can design and build anywhere in the greater Melbourne area, including the Mornington Peninsula, Packenham and beyond, west to Geelong, Ballarat and Bendigo, north to Wallan and Wandong. You name it, I can service it.
I can now offer a rooming house building service in the Brisbane area!
I have partnered with Certainty Property to provide the best possible option for my clients. Certainty Property have the experience and know-how to maximise your returns while keeping your investment safe.
As Class 1B rooming houses aren’t your standard rental property, I have negotiated with Certainty Property that all my clients will deal direct with the Managing Director in the first instance and he will personally oversee the selection of tenants.
I have also negotiated that anyone who builds through me a full size Class 1B rooming house will receive a rental guarantee of 75% of the weekly rent with no waiting period when using Certainty Property. That means if you normally receive $3000 per week (yes, this is the average achievable) from your rooming house, this guarantee means you will never receive less than $2250 per week regardless of how many tenants you have!
Making decisions on any investment is huge, and I understand and respect that. It’s also very personal and we all have different skill sets we can implement in this process.
I am here to assist you in any area you feel you need it. What I’m saying is, you can do as much or as little as you like throughout this process, I will be there to guide you and provide my skills and expertise wherever you need it.
- I don’t have a property I need to sell you- we source and build to your requirements
- I’m not telling you to buy 10 investment properties in order to retire- you may only need 1!
- I don’t have a finance product I need to push onto my clients, we find the best solution for you. Everyones situation is different
- I don’t have the pressure to find tenants unless you want me to. I can ensure we get the RIGHT tenants by the RIGHT property manager
My only goal in life is to assist my clients invest in an asset that will set them up for life in a quick, risk free manner, allowing them to have as much or as little input as they want.
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