It’s possible to increase rentals yields from your residential property to more than 7%+ and many of our investor clients are taking advantage of this opportunity. This is known as a dual income strategy and in today’s tougher lending environment this strategy can assist investors improve their loan serviceability.
Constructing Second Dwellings or Auxiliary dwellings or ‘granny flats’, has recently become a popular property investment strategy in NSW and certain Brisbane local council areas. Investors may add the granny flat to an existing property that they own or purchase a property with this strategy in mind.
Landlords do not need to subdivide their land to create the second dwelling so can save lots of money on council fees. The granny flat (secondary dwelling) will be on the same title as the primary dwelling so cannot be sold separately.
Through careful planning and site selection however, investors may be able to subdivide the second dwelling in the future. So when land values have risen, the investor may want to capiltalise and split the titles and sell one of the dwellings or have them revalued as separate titles.
The dual income strategy may suit investors who are looking to increase their cash flow and loan serviceability. They may already have considerable equity in their property portfolios and wish to strike a good balance between growth and cash-flow.
Call us now on 1300 781 824 to find out more about how we can help you with dual income strategies.
The team at Pillar Property found the ideal investment property for us. They also coordinated the renovation which provided us with a substantial increase in rent. He now manages all of our properties. Whilst we were both working overseas, it was imperative that we have someone looking after our properties that we could trust. Chris and his team have now sourced 3 properties for us and have co-ordinated renovations on these propertiesPANN Pty Ltd
Chris has been providing us with advice and guidance on our property portfolio since 2006. As well as sourcing our properties they also manage all of them for us. The team at Pillar Property do a lot more than manage tenants and collect rent. They have helped us increase the value of our properties through coordination of renovations, maximising the rent and reducing repairs and maintenance costsAntonis Family Super Fund
Thank you Chris for all your help in the buying process. Your service and thorough process enabled me to find the ideal property. There were boxes which I thought needed to be ticked in choosing the right property for me. You and your team achieved this and I am extremely happy with the outcome.
Your experience in the buying process made a world of difference to the end result. I would be very keen to recommend your services to friends and family.
Your attention to detail in selecting the right property really paid off. I look forward to working with you again in the near future.
Thank you again for a job well done. Excellent outcome.Daniel Tran
We have used Pillar Property several times to purchase properties. Chris has always been available, obliging and goes above and beyond. He is very attuned to the client and the market.
We would always be happy to recommend Pillar Property to anyone!DR Paul and Sue Myers
I found Chris and his team to be very responsive to my needs and they delivered options promptly and efficiently. Within no time at all I had purchased a property and I feel confident that Chris has given me the best information and guided me throughout the process. He helped negotiate a great price which would have saved me money as I wouldn’t have had the confidence to go for the offer he made. He engaged the services of relevant providers to ensure the process of purchasing ran smoothly throughout. I feel proud of my new investment and confident that I have made a great decision with the support of Chris and Pillar property.Shona Tough
My wife and I recently purchased an investment through Chris and his team at Pillar Property, and would like to thank them for their very professional and thorough service. We were very specific what we were looking for as an investment. Not only did he find the ideal property, but also negotiated the best possible price, saving us far more that the cost of his services. Chris and his team looked after us every step of the way explaining step by step what the order of event would be through constant communication.
They were personally involved carrying out a number of inspections on the property to ensure that all renovations that were agreed to on the contract of sale were done to a professional level. Even though we were overseas at the time of settlement, Chris and his team took care of everything seamlessly.
There was nothing that was too difficult and all our many questions were dealt with and answered clearly. Chris and his team offered a full comprehensive service from finding us the right property, through to contract/ settlement and even property management. Highly recommended for anybody who wants to invest in property with confidence.
Well DoneSteve & Barbara Byron