Thanks Buyers Agent. Yes these planning schemes can cause challenges. Fortunately Melbourne has not gone as far as NSW did with OSD- my first dual occ 15 years ago went through that. I resolved through a WSUD design-instead of an extensive concrete tank under the driveway- something in vogue now.

You need to go outside Melbourne- find a block you can subdivide and sell off the new lot to pay down debt or build the dual occ and get 2 incomes to be cash positive. There are properties like this within 100K of Melbourne CBD where rental demand is high- easy to commute to work.
Property may cost around 200K+. Build cost about $150K+. Rental…[Read more]

Thats a big reno! Choose the right area where land costs are escalating and location is attractive to make it worthwhile- otherwise rethink. less reno cost and more cash into a dual occ behind which adds value and gives an additional income down the track- more equity to buy another property with similar attributes -the options are great. Enjoy.…[Read more]

Which State are you considering. Subdivision can be profitable in Victoria if done well, in right areas and has good recent sales history.

Hi Sammy, Think of adding value to property as another way of achieving capital growth from property. If you are in Melbourne I have some good online and free information on my website of the type of property to look for and how to do a small development. Its based on the hundreds of properties I assessed and how i got those few hundred planning…[Read more]

Property subdivision costs

The following are just some of the costs you will incur for a property subdivision around greater Melbourne.

The cost of acquisition of the land if you do not own it

The interest or holding costs

Your share of equity or the deposit which is usually 10% of the cost of the property

Stamp duty which is 5% in…[Read more]

Shocking! Why this strategy is the big question! But its a lot better than the 18%-24% I paid for my first development properties. How we came out of that is something I forgot and best to leave it that.

There are some in Melbourne who charge very high fees to find a property and more fees to design and get permits. Then there is the one I posted here on the property spruikers who are being chased by ASIC. Money goes and refunds hardly come back in full. Think twice before thinking higher fees equal better product.

There are some in Melbourne who charge very high fees to find a property and more fees to design and get permits. Then there is the one I posted here on the property spruikers who are being chased by ASIC. Money goes and refunds comes back in full. Think twice before thinking higher fees equal better product.

Thats a good return. Try a dual occ development with a subdivision into 2 lots in Melbourne for solid captal growth and equity. We can help you in thst process in Victoria.

Well said Geoff!. I was a Toorak man but found South Werribee very exciting- great opportunities lie ahead. A colleague in my Toorak days once said – going to Werribee? Make sure you wind up yor windows! I asked- are you still driving a non electrified car?