Subdivision isn’t a process to be taken lightly: it can be arduous, risky and extremely frustrating. There are multiple layers of complexity to navigate, and even before building takes place, you are likely to have spent six figures.
But Auckland property investor Jordan Duffy hasn’t shied away from the challenge of subdividing. And he’s done it in an intelligent way, sharing the burden of risk (and debt) with his wife, and another couple.
Duffy started his property journey in 2015, renovating and selling his first home building capital for future projects. In 2016 he struck a deal with a family member who owned a rundown rental property in Tauranga. “It had been trashed by the previous tenants and they were wanting to get rid of it, due to the amount of work that needed doing,” he says.