I am intending to buy a IP with the possibility of subevide and build another at rear and sell one of the houses to reduce the debt on another IP. Is it still possible to find proeperties of this nature in sydney area? council requirements are so tight, I cannot find properties of this nature that would deliver a profit in the end.
If the above is not possible, how can I best utilise the current sydney market in my endeavour to build an IP portfolio?
Any feedback is greatly appreciated.For value, look around Blacktown LGA (Toongabbie, Blacktown, Seven Hills etc) – good sized blocks, some are subdivisible others just able to have granny flat etc. Area is close to transport and prices have taken a hammering so there may be some good buys to be found.
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