Colin Fragar, our founder and CEO, shares why dual occupancy subdivision is his favourite investment strategy.
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So you might have heard the term dual occupancy. You might have heard the term subdivision. What I want to talk about today is bringing those together – a dual occupancy and a subdivision.
My name is Colin Fragar from Council Approval Group. I congratulate you for getting this far and asking that question. Hopefully this video is helpful in the short time that we have together today.
What is a Dual Occupancy SubdivisionA dual occupancy subdivision is my favourite investment strategy. It’s one that I go into in The Secrets of Property Millionaires Exposed, if you’ve read that. But if you haven’t read it, that’s fine. I can explain a little bit to you today.
A dual occupancy, by definition means two dwellings on one title, separate to a granny flat. That’s a different discussion. So we’ve got two dwellings on the same title. A dual occupancy and subdivision is when you subdivide the dual occupancy. The question of whether you can subdivide a dual occupancy will very much get down to the details of your site:
- where you live,
- where the property is,
- the local government area that you’re within,
- the zoning and
- what the specifics are of your exact site.
If you’re interested in one of those, please go to councilpproval.com.au and book in for your free consultation where we can discuss in general, what you’re trying to achieve, and then work out a roadmap for you going forward.
Tips and TricksI’ll just to give you a few more tips and tricks in terms of these dual occupancy subdivisions. So, the great thing about the dual occupancy subdivision is you can often depart from the minimum lot size.
Imagine you come to me and say, ‘Okay, Colin, I want to subdivide my land and I want to subdivide it like that.’ Maybe this is the street here and you’ve got your car here, you pull up and you want to subdivide it like that. I say, ‘Sorry, you cannot subdivide it. You don’t meet the minimum lot width or you don’t meet the minimum lot area.’
However, a dual occupancy subdivision, often in many local government areas, allows you to depart from the minimum lot size. So we can usually pull it off, even with a small departure.
Please keep in mind the dual occupancy subdivision isn’t restricted to a subdivision line like that. You might be able to subdivide it behind with the driveway access there.
So a dual occupancy subdivision – dual occupancy and subdivision – is the ultimate, I believe, investment strategy.We go into it in a little bit of detail in this free guide. Please make sure you grab a copy of that. It is available on our website.
Get Expert AdviceAnd also, I highly recommend, as we talked about before, the consultation which we have with one of our team now. How does that work? What we talked about is we ask what you’re trying to achieve, then we work out a roadmap going forward. And usually the recommendation is for us to do a preliminary planning assessment on your property to really work out what is the highest and best use, whether it’s a subdivision, whether it’s dual occupancy, whether it’s both. Maybe it’s granny flat or maybe it’s none. We’ll be able to advise you on that.
My name is Colin Fragar. Thanks for watching, and I wish every success.