What's wrong with this plan..

[theducks]

1) Buy house on 760m2 of land for $370k.

2) Subdivide land for additional $20k in fees.

3) Sell back battleaxe for $200k.

4) Sell front with remaining original house for $350k.

5) $160k profit

Aside from tax implications on the profit, what am I missing here?

Comments

[justadecoy.livejournal.com]

R-Codes governing if you can subdivide in that region (wherever it is): http://www.wapc.wa.gov.au/Publications/37.aspx