Mordialloc vic

Depends where – beachside of rail and nepean hwy.

Beachside of rail – not much under $550 – $600k.

On the other side of rail in mordy the prices have gone up too. There are some good period homes and there are some large blocks. They are a bit cheaper and prices probably range from $350k to $550k.

Depends what you want. My aim over the next 2-5 yrs is to buy beachside of rail between mentone and mordialloc. I am in no hurry as I only want to move when the kids are ready for the secondary schools in mentone.

Prices have come down a little. But I expect better bargains when we see a few interest rate rises. But over the long term there is no problem with when you buy.

Hi Kaloni,

The problem with many of the more expensive areas, is that unfortunately, if you are looking for positive geared properties, you will be hard pressed to find them, if at all!!!!

I mean, you could spend 500K and buy a lovely beachside property but the rent may well only equate to say $300, okay $350 p/w which is about 3% gross, which after deducting all your associated costs is even less!!! But the Capital Growth is much higher than say a property in the sticks, which will give you a far greater income (possibly even +CF) but the CG will not compare.

What are you looking for +CF or -CF??? A property for the long term B&H CG value??? Or cashflow today, regardless of long term CG???

Maybe you need to sort out what you want first, before looking in areas that don’t meet your criteria.

All the best,

Jo

Hey Kaloni,

I’m not far off you in years (41) and I refer to myself as “semi retired” only because I still spend time working with people, when I could be lazing about doing nothing!!! No, just kidding, that would bore me silly!!!

4% is not unrealistic in the slightest, and can be achieved in many areas of Melbourne, but unfortunately I don’t think this will be the case with many of the eastern suburbs (not impossible) but just not as likely.

Mordialloc, Mentone and the like can be expensive (depending as Yack says on which side of the tracks) but why not consider Frankston South, Mornington (I get 5.4% for one I bought there only a few months ago) Mt Martha and so on. There are some lovely older homes beachside of the Nepean and that will get you the 4% you seek.

Cheers,

Jo

I had no problem at all.

The former owners rented it off me for the first month while their new house was being completed. My PM was advertising it whilst they were still living in it, and conducted heaps inspections with fantastic feedback and several applications before finally deciding on one.

Jo