Colin Fragar, our founder and CEO, shares his experience with dual occupancy subdivision.
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Or for those that prefer to read, here is a transcript of the video…
Hi everybody. I’m just having a look at this copy of Secrets of Property Millionaires Exposed. There’s a chapter in here where I talk about dual occupancy subdivision.
So what is it? How can you use it? I’d just like to share a few of the tips that are in this book. If you haven’t got a copy, please grab one.
The first thing to consider when doing a dual occupancy subdivision is that it literally can mean hundreds of thousands of dollars for your investment portfolio if you can pull it off.
A Dual Occupancy subdivision can mean hundreds of thousands of dollars for your investment portfolio.
How to Use Dual Occupancy with SubdivisionOften it is used as a way to get around the minimum lot size. A standard one-into-two lot subdivision is obviously gold. It’s been done for hundreds of years and people have made a fortune out of subdivisions. However, dual occupancy subdivision is often missed. It’s a one-into-two lot subdivision, but it often allows you to depart from the minimum lot size in a local government area.
My ExperienceI’ve done probably 10+ of these myself and thousands of them for clients through the Council Approval Group. For example, this is why I love it:
I remember my wife and I did one of these on a corner lot. We couldn’t just subdivide it because it was something like a 25% departure on the minimum lot size. We just couldn’t pull it off. So we did a dual occupancy. Now, a dual occupancy can be attached or detached. In this situation, we did a detached dual occupancy. Then, we got approval for a subdivision. Next, we sold off the front house and largely cleared the debt on the remaining one. It allowed us to create a significantly positive cash flow investment.
So, I love dual occupancy subdivisions. I don’t know if I can express how much I love them. Please research to understand it. If you can make this work, it will make the difference in your property investment portfolio. I mean it’s not really about your investment portfolio, is it? It’s about the dream that you have, the better lifestyle, and the better future that you’ll create from it.
Thank you for watching. First, if you don’t already have it, grab Your Ultimate Guide In Achieving Council Approval. It’s available for free on our website. You can get it delivered into your mailbox or inbox. Also, if you haven’t, please book in a consultation to talk to one of our team to see how we can help you to achieve council approval for a dual occupancy with a subdivision.