Hi All,Just new to the forum so go easy on me.. lol!Looking at buying a 3-4 bedroom house with large backyard (Land Size 650m2+) with the intention to sub-divide and sell off the rear block to kick start our investing journey.. Any ideas as to what structure and finance to use in our situation, where my parnter and myself are going in as half and my partners parents as the other half (Guarantors).Any advice would be greatly appreciated.Thank you
Hi Alex
Think you might be slightly confused as it is not a matter of going halves.
Each party will be jointly and severably liable for the entire loan unless the Guarantors have limited liability.
As has been mentioned in answer to your other post as you buying in personal names you will be liable for the capital gain apportioned to how the property is held.
Personally i think you would need some specialised assistance as making a mistake here would be costly in the long run,
Your mortgage broker should be able to serve up a couple of options for you.
Richard Taylor | Australia's leading private lender
Hi Alex,
I'm only new to sub-dividing so there's alot that I still have to learn myself. Im interesting in knowing what Council allows you to sub-divide a 650sqm block – where are you looking to buy ??
From the research i've been doing, typically the block needs to be around 800sqm before it can be sub-divided, you also need to make sure there's enough recreational space on each block (driveways and carports don't count). Fitting another house on a 325sqm or less block, while meeting all of the councils other guidelines should be a fun challenge.
Cheers,
Darren
Sorry, forgot to ask – has anyone had experience in sub-dividing a 650sqm or less block ??
What's the smallest block size you've built on ??
Cheers,
Darren
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