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Buying a 900m2 + property in Logan Qld to subdivide

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Samaraday | 02 May 2016, 04:41 PM Agree 0
hi, my fiancé and I are looking to invest in another property, we are 31, have a principal residence worth $500000+ purchased for $430000, have 1 rental worth $370000+ purchased for $335000, have $60000 in the bank and have no other debt at all, I earn $60000+ per year and my fiancé $20000+ I'm thinking of purchasing a 3+bed 1 bath house on a 900+ m2 block in Logan Qld of which I'd like to rent out straight away to get money coming in with view to subdivide into 2 lots and sell the vacant block off and keep the current property rented out , what are some of your thoughts on my strategy thanks ? Is this a relatively common strategy used by up and coming investors or am I better off going down a different path, I believe Logan is in high rental demand and close to highways and city/coast and at the moment quite cheap and can easily positively gear the property to no cost anything including rates. Thanks
  • Anthony | 10 May 2016, 02:18 PM Agree 0
    Try this council website to help with your query
  • Anthony | 10 May 2016, 02:19 PM Agree 0
  • Aanche | 21 Sep 2016, 03:35 PM Agree 0
    Yes, its a common strategy. I have lived in the Logan area for some time now.

    You can easily pick up properties under $350k in Logan that you can use to subdivide in future.

    Keep in mind sub division will cost you approx 100k.

    Thats 450k in total and having a 600sq m behind your property will sell between 200-250k.

    If you keen for subdividing I suggest look for blocks larger then 1000 sq m.
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