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Hi Shane,
I have two investment properties, one in Canberra and one in Melbourne. I use a real estate agency to manage my place in Melbourne and I'm not very happy with their service (if I can call it that). They are very reactionary, and usually to me contacting them! The house in Canberra is managed by a property management agency (they also sell houses for a set rate). They are great, and I would recommend them to anyone with an investment property in Canberra. I think it was last year, but LiveIn won the property manager of the year award. They truelly are prfoessional in their business.
Here is a link to their website, which should give you an idea of what they offer:
I agree with the comments of others on this forum, be proactive and respond to communicationsin a timely fashion, both to the landlord and the tennant.
Good luck!
Mike
HI all.
It still surprises me that when people think property in Melbourne they only think North and East. No on eseems to look at property across the West Gate Bridge.
I purchased a very nice four bedrooom house in Seabrook, near Point Cook, for $338,000 in Nov 2007. Currently worth at least $100K more than that. Why? Only about 20km from the city, has schools, shops etc witihin walking distance and two train stations within four monute drive, and with the completion of the Point Cook Shopping Plaza in late 2008 the area has been going great guns.
I currently rent it for $360 a week, having lived in it myself for about 15 months. Rent could do better, and I intend to review this in a few months, but as for growth, this is an area that is playing catch-up as people realise it's not that far from the city and the North and East are too expensive. My research in late 2007, in particular my lack of bias when I looked at distance to the city and surrounding facilities/infrastructure, before I bought has for me paid off. I'm currently residing overseas, but may look to sell this and cash in the growth to spend on better cash flow properties.
The area has become quite expensive now, but there are places still under $400,000 and there are planty of new estates.
I'm not saying that this area is the be all and end all, but please take note that there is a huge corridor of land yet to be filled just across the West Gate Bridge. If you're looking for growth over the long term, and they say Melbourne is growing faster than Sydney, then look at this void of potential housing.
Good luck with your search for an investment propert in Melbourne.
Regards,
Mike
