If the building has a flat roof or a slightly pitched roof, you could have a 6 cm thick polyurethane foam sprayed on top. I have found that this will lower the interior of the building by 6-8 degrees C. Adding a small roof mansard (or overhang) of about 60 cm wide or more above the windows on all south and west facing windows also shields the glass from the sun above with another measurable reduction of heat build-up.

It will take you 17 YEARS to recoup the cost - its not really a good investment for a rental. But its a great long term asset if you plan to use it smartly and be a property tycoon. As long as its fully rented you can borrow against it and expand your empire.

A good investment for a rental should recoup the cost in 10 years or less.

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I found a house that is quite good as a rental investment property. 3 Bedrooms and 2 large Bathrooms. It's located beside a large university and minutes from restaurants and a major shopping centre. They are asking for approx $370-390K. Rental is approx $430-$450week and mainly for students. Body corporate is $10/week. I have about 60K for deposit.

The only issue is the townhouse is extremely hot during summer. Both the back and side of the house are blocked by the houses next door and not much wind enters from the front. During our inspection they had to turn up the aircon on to cover up the heat.

Even though I'm not going to live here, my family & partner can't see past the heat and into the investment side of it. What is your opinion?