Mike and Steph Russell have come up with the perfect add-on to their residential rental property business, that not only offers a solution to their own portfolio but also other property owners and those needing an additional bedroom or office or worker accommodation.
The couple have been property investors since 2008, purchasing run down properties in Hastings and Flaxmere, that required renovations. They completed these themselves in the weekends and evenings, creating a portfolio that are all Healthy Homes compliant, and warm and tidy for their tenants.
Over recent years they have been having so many enquiries from both current and prospective tenants, needing an extra bedroom, so they started looking for solutions.
As well as creating a passive income stream through a housing portfolio, Mike has been a commercial pilot for Air New Zealand and Jetstar while Steph has worked in the technical and quality space of the pipfruit industry for a number of years. Mike was made redundant as a pilot when Jetstar closed its Hawkes Bay service and has transitioned from planes to trucks, using his skills in the air to on the ground as a truck driver over recent COVID-19 times.
The couple who enjoy a challenge, and working together for solutions, saw cabins as a viable accommodation alternative. A cabin could be easily moved on to a property and be up and running very quickly.
“We started doing some research and we came across a cabin builder and hire business in Hamilton, and he wasn’t interested in the Hawkes Bay market, so we decided to partner with him.”
“We didn’t want a cheap product that wouldn’t last and we were really impressed with the natural wood paneling, the insulation is amazing as is the double glazing. The cabins are cool in summer and warm in winter.”
The Russell’s purchased a purpose built trailer from their cabin supplier that transports the 4.2m by 2.4m cabins. They have a target of having a fleet of around 40 cabins. Any surplus cabins can easily be stored at their Bridge Pa property.
“So far the cabins have been very popular as an extra bedroom, extra office space either at home or on a work site and worker accommodation within the horticultural and agricultural sector. We also recently had a family wanting one for home schooling their children”
“We complete a pre delivery site inspection, to ensure the most suitable cabin location, in particular for cabin stability and safe electrical supply.
Those cabins deliver from Gisborne to Waipukurau and everywhere in between. Mike and Steph currently have cabins available, and welcome enquiry, so please call Steph on 027 4444 262. Cabins are also available to view.