Colin Fragar, our founder and CEO, shares what makes dual occupancy a solid investment, specifically as compared to a granny flat. Click on the “Play” button below to watch now:
Or for those that prefer to read, here is a transcript of the video…
My name is Colin Fragar from the Council Approval Group.
I have done 10+ of these for myself and thousands for investors. So I just wanted to share with you a few thoughts about how you can make a dual occupancy work for your portfolio.
The first thing to remember is that a dual occupancy is different from a granny flat and I believe that a dual occupancy is better than a granny flat.
Five Key Reasons a Dual Occupancy is Better than a Granny FlatFirst, you can get a larger footprint. In other words, a larger size. Usually, a granny flat is restricted to a maximum area, typically 60 square metres. A dual occupancy can be larger than that.
The second reason is that dual occupancies often can be subdivided. This depends on where you are and whether we at the Council Approval Group can make it work for you. If you can get a dual occupancy subdivision in the bag, it’s gold.
The third reason is that they usually bring in better rent. You’re not limited to 60 square metres or whatever the maximum is for a granny flat in your area. If you have 100 – 150 square metre dwelling can usually get three bedrooms.
The fourth reason is if you are able to get a dual occupancy subdivision, then you can sell one of them. As a result, you will reduce your debt levels and create a significant positive cash flow investment for yourself and your family.
And the final one that I love is that you can usually depart from the minimum lot size for a 1 into 2 lot subdivision, meaning you can get a subdivision approved on a smaller parcel of land than you would otherwise have if you hadn’t have done a dual occupancy. It’s quite a detailed investment strategy on that one.
How We Can HelpSo if you haven’t already, please grab your copy of the Ultimate Guide of Achieving Council Approval available from our website councilapproval.com.au. If you’d like to have a chat about getting council approval, please book in for a free consultation with one of our team at councilapproval.com.au.
Thanks for watching and all the best.