updated 4th October 2016
Doubling your portfolio is a very simple system.
It’s buying property that can be developed and sub divided in the future. Yes this means NOT buying units, townhouses or apartments as these types of properties cannot be sub divided later on.
The best way to ensure you can develop and sub divide at a later stage is to find a location that you want to invest in, and then see what council the area falls into. When speaking to this council ask them the following questions:
- What frontage must the property have?
- What land size do you need to put duplexes on it?
- What height restrictions are there?
- What building to land restrictions are there?
Also, request a meeting to speak to a town planner as well. They will advise in greater detail on what will be council approved and what will be declined. They will also outline future major developments for the local area as well as advise you of any upcoming changes to policy which may affect your future plans.
Doubling your portfolio starts when you first buy the property. If you buy well, can sub divide at a later date, then the following will happen.
Imagine this. Five years has passed and you have purchased five properties over this period. Within one year you can double those properties from five to ten just by knocking over what was there and replacing with two new duplex’s.
Property Investment Tip:
Remember to be careful not to but heritage listed properties. This will restrict your future developments.