samjamesMember@samjamesJoin Date: 2005Post Count: 13
Hi. I have a investment house that rents for $225 week., paid $214,500 2 years ago. It is a 3 bed on 998 m2 on 2 titles. I believe it will be a simpler task to sundivide because it is on 2 titles?
Does anhyone think this would be a good way to go. My intention is to hopefully subdivide and sell off the other block. There is a double shed on the land at the moment which will have to be moved and perhaps a carport built with the existing house. Costs would include fencing, sewerage, water ???
Advice much appreciated
samjamessamjamesMember@samjamesJoin Date: 2005Post Count: 13
I guess my previous post was a bit confusing. You can see I am new to this. My rental house is on 2 titles. I am hoping to either sell off the other block or perhaps build units or a house. I have made enquiries with the council and it appears I don't have to do much except provide a carport and space for 2 cars on the land where the house stands as the other block has a double steel garage that could either be removed or left on the block if a buyer wants it. I must admit to being a bit suspicious about the advice as it seems all too simple? Do not even have to erect a fence! The council officer told me all that had to be done was to have the 2 titles "split off the deed." I have no idea what this means and made further enquiries with the state titles office and they could not tell me what it means either. Perhaps my accountant. ?
I was hoping someone may have some ideas on which would provide a better income, selling the block or building on it myself?
samjamesAUSPROPParticipant@auspropJoin Date: 2003Post Count: 953
hard to say without seeing all the facts and figures, tho usually it is best to fully develop the land, but don't forget GST and CGT consequences. Forget the accountant as far as subdividing goes… talk to a surveyor to take you thru the necessary steps
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