Hypothetical Situation:
I buy a 850 sqm block with a house at the front with 20% deposit. I split the block into two blocks (i.e. subdivide). I then loan against the rear plot and use the money to build a house on the rear plot. So I now have two houses on two plots and also two mortgages.
I then sell both and pay off loans and pocket any profit.
Is this possible? (Im pretty new to this as you can see)
I buy a 850 sqm block with a house at the front with 20% deposit. I split the block into two blocks (i.e. subdivide). I then loan against the rear plot and use the money to build a house on the rear plot. So I now have two houses on two plots and also two mortgages.
I then sell both and pay off loans and pocket any profit.
Is this possible? (Im pretty new to this as you can see)