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All Topics / Help Needed! / Covenants for over 55
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?
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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