All Topics / Help Needed! / Covenants for over 55

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  • Profile photo of propertyboypropertyboy
    Participant
    @propertyboy
    Join Date: 2008
    Post Count: 232
    January 15, 2008 - 7:24 am

    Well I have been looking into some homes in the frankston south area, and there are some homes that are for sale with a 55 covenant.

    NOw knowing that melbourne is a baby boomer demographic and that the 55+ demographic wil have the money in the future opting for a sea change etc etc I beleive this will be a good ooption

    Are there any cons with this sort of investment?

    To me it would have a retirment village feel for the elderly and would attract well off long term tenants. Is there something i am missing?

    Is frankston south an area on the rise? Or is it a no hoper?

    Profile photo of trakkatrakka
    Member
    @trakka
    Join Date: 2004
    Post Count: 257
    January 15, 2008 - 7:49 am

    As per another recent query, the main drawback is low LVR. Read this thread from this afternoon: https://www.propertyinvesting.com/forums/property-investing/help-needed/4323340

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