Any one know how is this area?
i have a property in an adjacent suburb
Hi Yarpos…..how many property do you have??? u seem to know a lot of stuffs : )
I am still searching to buy though….but problem is i am not in melbourne… : ( and gonna buy it unsight property.
my budget would be approx 350k but at least getting 350 a week…otherwise just paying too much nagative gear…
and you told me to find the property within 10km..and i only can find is west heidelberg and Reservoir…
but I heard Heidelberg West is pretty old area and not much property for sales.and Reservoir…i have no clue…
but i believe if i buy something close to train station, that should be okey i guess, but still need to do more research.
which surburb do you have?
I dont know that much but am happy to share experiences +ve and -ve.
I have 4 properties at the moment , all in the east and south east , except for a little unit in Thornbury
350k and 350 week , is readily achievable in many areas, so you shouldnt have a problem. I guess looking to manage from afar you will be looking at a newer development to reduce maintenance headaches , or get some recommendations for professional property managers.
I was about to sell a couple of the places in the outer burbs to do more renos around Thornbury, but I found out this week I will be going overseas to work again for a few years , so that is the end of property for me for a while. Just arguing with myself now whether to hold and manage from OS or sell up the lot …..not including Thornbury, thats reserved for one of the kids to buy when ready.
Hi Yarpos,
Just out of interest whereabouts in South East (we are in Aspendale). Cheers
so do you think Reservior good? compare to west heidelberg…I am still finding the property about 300-350k range and preferably house or unit (not apartment) as i think it will hole the value even market crash or recession.
and i aslo believe with those range of price, it is achievalbe to get double in 7 -10 years. (as you see lots of houses now is about 500k) inner city might up to 700k-1M now…
for the houses..if i buy something 500k today let say 3 beds room….it is pretty hard to get 1M in 7 years. unless they double up the salary as well….or new migrant.
I would suggest you that dont sell your property, if all of your property is positive cash or litter out of pocket money (unless your property hits very high value like 3 beds room (approx 600-700k) then is okey.
like one of my friend who bought a very big house in clayton and nice area fro 350k.(approx 5/2) .many years ago..now they sold for 800k last year.
I dont believe that property will up to 1.6M in 7 years as the afforbility so it is good time to sell.
Reservoir as a suburb has a weird shape. When you talk of train station are you referring to reservior train station in zone 1 or regent train station or Keon Park train station in zone 2.
Reservoir has a nice lake called Edwards lake and is useful for getting to the Airport as the Western ring road connects with the Tullamarine Freeway without a toll.
From reservoir station it takes about 45 minutes to get into the city
Also there is a tram from spring st West Preston
Major shopping centre is Northland
Close to Latrobe University in Plenty Road
Use to live there 10 years agomaree_bradross wrote:Hi Yarpos,Just out of interest whereabouts in South East (we are in Aspendale). Cheers
Hi, that one is Frankston , off Skye Road toward the Mclleland Road end.
mrkueh80 wrote:so do you think Reservior good? compare to west heidelberg…I am still finding the property about 300-350k range and preferably house or unit (not apartment) as i think it will hole the value even market crash or recession.
and i aslo believe with those range of price, it is achievalbe to get double in 7 -10 years. (as you see lots of houses now is about 500k) inner city might up to 700k-1M now…
for the houses..if i buy something 500k today let say 3 beds room….it is pretty hard to get 1M in 7 years. unless they double up the salary as well….or new migrant.
I would suggest you that dont sell your property, if all of your property is positive cash or litter out of pocket money (unless your property hits very high value like 3 beds room (approx 600-700k) then is okey.
like one of my friend who bought a very big house in clayton and nice area fro 350k.(approx 5/2) .many years ago..now they sold for 800k last year.
I dont believe that property will up to 1.6M in 7 years as the afforbility so it is good time to sell.
I dont know much about west heidelberg so I cant really comment. Reservoir I got to know as we spent a lot of time there and about due to reno sourcing and related actvities. It seems a solid place to invest to me.
Appreciate you comments re holding but ity really depends on your stage of life. In the end everything isnt about monety and eventually its time to get out. With the job change its now seems opportune to exit , do the work and come back to a simpler life
Good luck with your research, you seems to be on a good path
for the houses..
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