Evening All,
Chasing information on the general pros/ cons and underpinning process of doing a subdivision and associated costs.
We have 3 IP's which have all been buy, renovate, reval and tennant. All geared positive. These are all buy/ hold for long term.
After working my a solute guts out on these over last 18months working fulltime and doing these renos looking into Subdivion strategy to gain some chunks of dollar dollar bills to put into more buy/ hold deals.
The way I have it on paper at the minute is-
1. Buy block that has old house at front or back of block (looking around 1000sqm mark)
2. While subdivision process is underway perform cosmetic reno on existing house (basic paint/ kitchen/ bathroom) and put tenant in.
3. Once subdivision is complete sell a) empty block of land b) existing house
I have no idea on what sort of time frame I should be factoring in and cost of executing a subdivsion.
Also is there a general rule of thumb for return on investment with this strategy that people work back on when putting offers in for applicable purchases?
Cheers
Chasing information on the general pros/ cons and underpinning process of doing a subdivision and associated costs.
We have 3 IP's which have all been buy, renovate, reval and tennant. All geared positive. These are all buy/ hold for long term.
After working my a solute guts out on these over last 18months working fulltime and doing these renos looking into Subdivion strategy to gain some chunks of dollar dollar bills to put into more buy/ hold deals.
The way I have it on paper at the minute is-
1. Buy block that has old house at front or back of block (looking around 1000sqm mark)
2. While subdivision process is underway perform cosmetic reno on existing house (basic paint/ kitchen/ bathroom) and put tenant in.
3. Once subdivision is complete sell a) empty block of land b) existing house
I have no idea on what sort of time frame I should be factoring in and cost of executing a subdivsion.
Also is there a general rule of thumb for return on investment with this strategy that people work back on when putting offers in for applicable purchases?
Cheers
