A client came to me late last year with an idea to do a knock down rebuild on a corner site in an inner Eastern Melbourne suburb. The idea was to build two homes on the corner lot selling one and retaining the other for a passive income. 

We obtained council approval for the two homes and the client pre sold one of the properties. The properties are near completion and came in on budget and under construction time allowed. The sale of the first property covered the cost of the land and some monies were left for part of the construction cost.

Leaving our client with a reduced mortgage for the remaining property and will now be positive geared by the rental return.