Forum Replies Created
Hi Mike
Many thanks for the property reports. Very rapid delivery and comprehensive data. Have had some computer dramas…hence the delay in replying.
Cheers
Hi there
I recently looked into this myself and it all seemed very attractive. Great returns (I think it was 8%) and guarenteed rental. Plus, the popoulation is aging and therefore there will always be a market . However, I found out that many banks will not use this in future to lend on. So whilst very cheap and secure, any money is effectively tied up and the banks wont take this into consideration when applying for a loan for further property. The same seems to happen with student accomodation and anything else purpose-built. Its a shame but what can you do? I gave it a miss as was interested in buying a couple of properties in the next few years. Hope this helps!
Hi there
I am myself looking to invest in the western suburbs of Victoria as my 1st IP. I think prices are reasonable enough so that morgage repayments are not too stressful which is pretty important. Whilst I could probably stretch myself and obtain a loan for a property worth $300K, if I can get a property for $150K which provides a reasonable rental return of of 4 – 5%, I will be happier knowing if I screw up, I have not screwed up big time…..(Its a bit scary when you are going it alone and making all the decisions yourself). I have been looking at Ballarat, Werribee and Melton, in the town centres, away from all the estates which seem to be a dime a dozen around Werribee and Melton especially.
Whilst the capital growth may be on the low side, all experience is good experience and when you read alot of books (eg Steve McKnights), alot of people seemed to start on the cheaper side and build there way up once they were more comfortable.
Now all I need to do is decide which area is the best for cash flow as they all seem to be included in the 30 year plan for Melbourne and have growing infrastructure, improving road works etc.
Let me know how you go……
Thanks for your thoughts Mark, I will check out Ballarat. Looking at the long term growth in the area with the new Deer Park Bypass and Melton being part of the 30 year extension plan. Always good to have feedback…..
Hi Elka
We got some off cut granite made into bread-boards last year (for a wedding present) – the place was in Bendigo somewhere; not sure of the name of it as they delivered it and we found it in yellow pages. We live 1/2 way between melbourne and bendigo so dont know if they deliver to melbourne but worth looking up in yellow pages
Goodluck
Gen
Hi Tim
Yeah, I ordered the 10 Victorian Hotspots current as aof Dec 2006 (got an email version about 3 weeks ago). I found the information well researched and thorough with helpful all round tips in investment properties. I had an area in mind for an IP, but unfortunately this was not one of the 10 listed – and you cannot find out the 10 areas listed prior to payment. Still a handy document to have. It lists key influences such as transport infrastructure, government decisions and market analysis. You could probably find this out from other sites but its convenient to have it all done for you!
