If you’ve been craving for a real-life property subdivision case study, then today’s your lucky day!
Graeme turned $105K in profit with this deal in 6 months, so it’s no wonder this case study was met with outstanding feedback!
I’m sharing this online today for the benefit of those who couldn’t attend the live meetup. If you enjoy this video, you might want to consider dropping by and saying hello on our next Brisbane, Sunshine Coast or Gold Coast meetups!
What’s Special About This Property Subdivision Project?
There are a few key things to note about this deal that make it special:
1) The site Graeme found was a ‘widow lot’
This meant that the property had two lots on one title, but configured in such a way that it was unusable:
As you can see there is a diagonal line running from top right to bottom left which indicates the boundary between the two lots.
This lot configuration was done back in the 40’s when there was a spouse left behind while the other went to war. The widow block ensured the spouse couldn’t onsell the extra lot.
This presents a great opportunity that Graeme seized in that he could reconfigure the lot boundaries so there was two usable lots (after the house was demolished).
What’s even better is there were no council contributions, saving him $28,000 in council fees.
2) The property was not listed online
Graeme found the site because he was looking at another property and saw the for sale sign which was not actually listed online.
This is a classic example of persistence meeting opportunity because Graeme would never have seen the site if he wasn’t making the effort to be on the road looking for property deals.
3) When opportunity presented itself, Graeme took action… FAST
Graeme had the confidence to take immediate action and secure the deal before anyone else got wind of it.
This confidence comes from knowing your area intimately and have the ability to crunch the numbers quickly in order to make an offer on the spot: $1000 cash deposit and some special clauses was all he needed to make it happen!
Watch the video now to find out at least 5 other insights that made this deal special, and the actions Graeme took to make a $105K profit in just 6 months:
Want More Of These Case Studies?
If you enjoyed this case study you will LOVE our Property Networking Group meetups.
The meetings are packed with high worth, relevant content and come with a stack of other benefits including:
- You become a part of an exclusive community of over 2,000 likeminded, high-achieving property investors
- You will be learning from other everyday property investors (just like you) that present their latest property project each month. It could be a renovation, subdivision or development deal… or something more creative!
- You’ll hear from industry professionals share their views on the state of the market, which investing structure to use, the best finance deals and much more
- Plus a FREE Australian Property Investor magazine at the door… not to mention complimentary tea, coffee and prizes all night
Click here to find out more and to join our next meetup (first time’s free!)