Hi sanjivgupta,
The house is 51 years old, I have just increased the rent from $190 to $200 per week. I have not renovated it yet. I still have there the first tenant so I keep them until they decide to move on. I think I can get another $10-20 per week with a simple painting and cleaning up job.Looks like subdivisions are in fashion close by (Dandenong Road East). Within the last three months, the Council sent me two notifications of proposed developments in the area. I got a bit worry about the statement made earlier that suitable sections for subdivision in Frankston are close to 700m2. My section is only 614m2 and it was advertised as potential S.T.C.A . That’s why I bought it. But …by now I am used to bold advertising by real estate agents. Did anybody subdivided this size section in Frankstion?.[medieval]
Hello FRankfurters,
Just curious to whom is buying or looking to buy in this area. Since last posting here the property market in Frankston is moving quiet strongly,
I would be interested in the latest updates or stories from someone.Cheers
Dom
Just keeping an eye on it from afar Dom.
My joint has gone up since the start of the year based on sales of similar properties in the immediate area.
The area is still going well, but it could be micro-markets, so you need to look closely at where you are thinking of buying.Hello Marc,
I did buy in frankston in december 06.But the agent i bought from told me a couple of weeks ago that it had appreciated about ten thousand dollars a month. I am a little bit sceptical but then again the area is well talked about here on the forum.
Thought the combination of sea side, new marina and new highway link would also contribute to the popularity IMO.Dom
I researched Frankston over the internet a bit 6 months ago and it looks like it has heaps more growth potential to me. Any projects similar to this in WA sent prices skyrocketing and the growth is continuing.
Can someone please recommend a reliable/good property managemnt agent in Frankston please? Thanks
Hello Odenska,
I use Ray white in Langwarrin and the property manager is Rebbecca.
http://www.realestate.com.au/cgi-bin/rsearch?cu=fn-raywhite&a=xrw&page=home&ag=XRWLAORebecca Sullivan 0410 575 702
Property Manager
Rebecca Sullivan has joined the highly ambitious team at Ray White Real Estate Langwarrin. With desire, passion, dedication and efficient work ethics in what she does, Rebecca has gained a reputation by landlords and tenants to fulfill her tasks as a property manager.
Rebecca started her field of work in real estate back in 2002, and has gained a lot of respect in the industry. It is her enthusiasm and energetic approach that makes her a step above the rest.
“Whether you’re a landlord or a tenant you can be assured you will receive only the friendliest and personalized level of service you deserve”.
Ray White’s internationally acclaimed name, marketing, systems, tools and training will be the driving force in Rebecca’s ongoing commitment to maintaining the utmost level of success.
Dom
I agree with Frankston being a hotspot.
My step parents bought there and have
experienced some good growth from
what they tell me.Thanks Dom,
I just bought my first IP in Frankston. THe rental yied is just 5.1% but it is good enough as its ahrd to find postitive cash flow these days.
I will contact Rebecca. I also heard about Andrew Mine RE is quite good as well but I will contact Rebecca first since you recommended.Hello Odenska,
Just wondering how you went with an agent?
Watching the sales in Frankston is like watching a resource share double or triplein a day at the moment so much is selling. But i think their is a long way to go which is good for me because i will be buying more.Dom
To all who have investment in Frankson, here is the latest update. Congratulation, you have enjoyed the BIG capital gain !!
Last week, I just bought a house less than 1KM from beach, in good school zone and near to CBD for $380K. The land size is only 520 sqm and 40 yrs 3 bedeooms old house.
yes, this is my investment property and the expected rental is 350K per week. (quote from the property management.).
cheers !
MingAndrew Milne from what i hear is meant to be very good. I personally use stockdale & leggo i frankston. Have not had 1 drama since i signed with them a few years back. From what i hear….stay away from MPRE for property management. Though other people in here might have different opinions.
By the way…was speaking to another agent today from Network 1…..he told me that some big investor from WA has plans to buy 50 properties in the frankston area this year (must be seriously cashed up?). He is using 2 agents…..Network 1 & MPRE. Apparently paying asking price and buying at the lower end of the scale..ie: central frankston…karingal, etc.
Could be BS but who knows?
Hi,
My Frankston property was bought through my buyer agent whom she deal with Network 1.yes. i am paying the asking price.
cheers !
yes, this is my investment property and the expected rental is 350K per week. (quote from the property management.).
cheers !
MingBe careful with rental quotes from property Managers; especially when doing D.D before buying.
Do your own research and establish the actual rents for your type of property in the immediate area.
I think you will find that any area located near the watwer will increase in value. The greatest issue with Franston is access. With the new freeway that will change the other problem has been that the rents have been limited. That too is changing. How many areas in Melbourne can you buy a house for under $300,000 and also over $1,000,000. As a comparison just look at Geelong. It has changed and grown greatly over the last 7 or 8 years.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
I dealt with Network1 agent and I really like their services. I bought my I.P below the asking price (upto $20k), the seller wanted to sell really soon that's why we managed to put-in the offer below the asking price. The I.P is between Frankston & Frankston Sth, only 5mins drive to the beach. The seller wants to rent back while looking for a new house $260/p.w.
I am still looking for the PM, I rang Rebecca as per Dom's advise and I am comparing the fee with other agents at the moment. Have you heard of Wentworth? I contacted Crowders but got re-direct to Wentworth instead. And they charge 8% fee as flat fee.
OdenskaHello,
Frankston maket has been realy moving along lately as most here would know. Here is a couple of links i picked up from the somersoft forum.Frankston and melbourne topic their is quiet polular.I hold one proprty, and are very happy with price increase.http://data1.reiv.com.au/trendchart/
http://www.theage.com.au/news/national/big-surge-in-house-values/2007/07/27/1185339260581.html
I believe this area is going to have a great "boom" in the future and have invested in the area too. I liken the area to the new "St.Kilda", and we all know how that changed. It went from scums-ville to multi-million dollar proerties over about a 20yr period.
My research shows fierce competition for proerties in the area, with nothing remaining on the market for long. This, and that there is an awful lot of development going on in the area, indicates all good growth.
That there is several large companies coming in (bulk stores,etc) , and several large developments on the cards (foreshore, shopping centre, upgrades,etc) says alot to me too.
I too am hapy for everyone to push the value of my place up by coming into the area, just leave me another few ok?YAY!!
I'm loving this thread.
To answer Odenska's question about management:
we use ABEL in Frangers. They have been great, and the fee is 6%.
Speak to Norelle, tell her Marc Erard sent you.
She loves me.Just wondering what peoples opinion of Frankston is now – 5 years since the previous postings…
in a day at the moment so much is selling. But i think their is a long way to go which is good for me because i will be buying more.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
