Hi, I am new to this and was wondering if someone can give me some advise. My sister are looking at buying a property on Sydney's North Shore. We have found a property that has been on the market for quite a while (heaps of offers but problems with purchasers finance falling through buying other propeties etc) and we can possibly get a $100k reduction on original asking price. It is on a double block with possibility of dual occ approval. I have spoken to architect who is an expert at dual occ approvals in this council and he feel that there shouldn't be a problem getting it approved.
My question is, as my sister and I have both already sold our previous homes and are currently in rentals is it better for us to buy this as an investment and put a tenant in, or for us to buy as a PPOR and one of us move out of our rental and into the investment while the approval and building work goes on? Also, we intend to renovate the existing house and build the dual occ house and then sell. How long would we need to hang on to the houses before we could sell?Thanks in advance for your help
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