All Topics / The Treasure Chest / Query regarding Investing in Moe, Morwell, etc.

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  • Profile photo of cgj1981cgj1981
    Participant
    @cgj1981
    Join Date: 2002
    Post Count: 1
    January 12, 2003 - 6:30 am

    I was just wondering what peoples experiences are, thoughts on or information heard regarding investing in Moe, Morwell, Traralgon, etc. ?

    I would love to know especially what rentals per week people received or can expect to receive for 2 – 4 bedroom homes and the nanture of the tenants and any problems and tips in relation to them ?

    Thanks,

    CJ

    Profile photo of Steve McKnightSteve McKnight
    Keymaster
    @stevemcknight
    Join Date: 2001
    Post Count: 1,763
    January 13, 2003 - 2:47 am

    Hi CJ,

    I have an article in front of me from The Age 14/09/02 titled “Things are looking up in the Latrobe Valley, thanks to a new coat of paint”

    It begins:

    quote:

    “The refurbishment of former SEC houses, which previosuly defaced streetscapes in the troubled Latrobe Valley, has sparked a modest property boom.”

    If you are interested in the area then I recommend reading this article… you can buy it from The Age website (click this link).

    My thoughts echo the article. Traralgon is going ahead very well, Morwell is flat but has promise… Moe, well, it will be carried forward by the growth in the other two.

    Bye

    Steve McKnight

    **********
    Remember that success comes from doing things differently.
    **********

    Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
    https://www.propertyinvesting.com

    Success comes from doing things differently

    Profile photo of FinmoreFinmore
    Member
    @finmore
    Join Date: 2003
    Post Count: 3
    January 14, 2003 - 2:19 am

    A year and a half ago I bought a nice two bedroom unit in Moe. It gave me a positive cash flow straight away and I sold it a couple of months ago for 50% more than what I paid for it.
    I don’t beleive you will get the same capital gains now but the main reason I bought there was that there are lots and lots of renters in Moe. My unit was in walking distance to the main shops which ment I had a lot of rental applications.
    There are also a number of new employment opportunities in the area due to the Brack’s Government pumping in around 5 Million dollars to boost the economy of the Latrobe Valley area.

    Profile photo of SooshieSooshie
    Member
    @sooshie
    Join Date: 2002
    Post Count: 974
    January 17, 2003 - 4:25 pm

    Hi there,

    I have friends who live in Moe and they know about wraps. In fact they said most of the community knew about wraps, because a lot of people where buying their house that way.
    My friends asked me about it, knowing I do wraps and I said that I have a friend who could do it for them if they were interested.
    My friends mother mentioned that her son did a wrap with no deposit money down except for the F.H.O.G. Well I can say that there would be no way that I would do a wrap with no deposit other than the F.H.O.G.
    I guess in this case the wrapper who is doing this sort of deal, has an edge on the rest of us, because it would be to risky for me and I’d like to sleep well at night (whatever sleep I do get!)
    My friend came to stay the night and she mentioned the house prices in Moe, Morwell, Traralgon have all increased and the rent was going up aswell, so they were thinking of moving out with their brood ( 8 children) to somewhere more ‘reasonable’.

    This is just some food for thought.
    Cheers
    Sooshie

    There are no problems, only solutions!

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