Tune in as we uncover the ins and outs of granny flats – the hidden gem of rental income. From costs and rental potential to tax considerations and beyond, we've got you covered.

💰 Ever wondered how much a granny flat can cost? Curious about the rental income potential? Join us as we crunch the numbers and dive into the expenses you need to consider when conducting your feasibility study. It's time to make informed decisions that maximize your investment potential.

💼 Get ready to tackle the tax man! We break down the formula you need to know to understand your tax liability when adding a granny flat to your property. Don't let tax surprises derail your investment plans – arm yourself with knowledge.

👍 Explore the myriad benefits of adding a granny flat to your primary residence, from increased rental income to enhanced property value. But wait, there's more! We also delve into the potential drawbacks and what you should be thinking about before taking the plunge.

🗣️ Who should you talk to before embarking on a granny flat build? Discover the key players in your corner, from builders to council officials, as we navigate the road to granny flat success. It's not just about building structures; it's about building relationships and expertise.

💡 Looking for alternatives to granny flats? We've got you covered! Explore innovative options that add value to your property and boost your income, earning you some extra cash without the granny flat commitment.

Join us for a fun and wise exploration of the granny flat phenomenon. Whether you're a seasoned investor or just starting out, this episode is packed with practical tips, laughter, and the wisdom you need to make savvy property investment moves. Let's unlock the potential of granny flats together! 🌟🏡💰

Episode Highlights:

• How much does a Granny Flat can cost, how much they can make in rental income and what expenses you need to think about when conducting your feasibility study before investing in a Granny Flat build.
  
  
• We run through the formula you need to know on how much tax you could be liable for when adding a granny flat to your property.
  
  
• There are a lot of positives to adding a granny flat to your primary place of residency which we list out. At the same time we discuss the negatives to building a granny flat and what you should be thinking about before investing in a granny flat.
  
  
• We discuss who you need to talk to before building a granny flat and taking that route towards more rental income.
  
  
• Alternatives to granny flats that can add value to your property and also increase your income to earn you some extra cash.

About The Hosts:

Sam Powell is a certified property investment advisor and registered property valuer with an illustrious career helping people save and make millions of dollars through property investing.

Jaryd Krause considers himself a student of property, owning his own portfolio of property and online businesses he shares his failures and successes through his property journey.

The Property Pals is strictly just a podcast on how to help you earn passive income through property investing to live a better lifestyle. We have no products or services to sell you, if you ever want help we can refer you to the different people we use for our own personal property portfolios.

About The Guest

Steve Palise is one of Australia's leading residential and commercial property buyers agents. Steve was able to leave his 9-5 with the property portfolio he built and is now a podcaster, author and success agent for many Australian's who want to replace their income by investing in property.

To get one or both Steve's book for Free (shipping only) use the code ‘PROPERTYPALS’ https://www.paliseproperty.com/commercial-book 

Resource Links:

➥ Property Pals Website - https://www.propertypals.au/
➥ Property Pals Website - https://www.propertypals.au/coaching
➥ How To Maximise Your Borrowing Capacity Mini Course - https://www.propertypals.au/resources 


Disclaimer:
Any information shared by Sam, Jaryd & The Property Pals team is strictly general and should not be taken as constituting professional advice. You should consider seeking independent legal, financial and taxation advice from a qualified professional.