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Ken Ong: Safe 18% yields through granny flats

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Your Investment Property | 20 Jun 2012, 12:00 AM Agree 0
Financial planner Ken Ong was afraid he had a dog investment, but by making use of his backyard he's managed to increase the yield on his property to 18%. He tells Your Investment Property how he's doing it.
  • Narelle | 03 Jul 2012, 06:52 PM Agree 0
    What happens when it comes to selling the property?
  • Ness | 04 Jul 2012, 07:13 AM Agree 0
    Thanks for sharing your story, it was very interesting. I believe in Queensland, the laws require you to have a covered passage way between the properties - is this not required in New South Wales?
  • anne | 27 Jul 2012, 12:05 AM Agree 0
    I looked at adding a 2nd dwelling to one of my properties but Council would not allow the classification to change to "duel occupancy". They would allow the same building as a "granny flat", which meant it could only be rented to a blood relative of whoever lived in the existing house. Even if they did not police this, your insurance company will probably not cover you if the granny flat is rented to a person unrelated to whoever lives in the main house. Stupid but true.
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