In my opinion the Breakwater area would be fine as a buy, renovate, sell area, but not so convinced about buy and hold. If you were a tenant, would you happily live in an older place when brand spanking Armstrong Creek is virtually across the road?
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Dya think there will be a rent difference between the two? Will people renting in AC be paying $30-$50 a week more? That may make a difference for some people.
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeThere will be a rent difference, yes. Of course there will. However more concerning is the matter of demand. The Armstrong Creek precinct is not small. It will have a lot of houses in it, many of which will surely be rentals. The overriding concern is whether renters will go to Armstrong Creek over Breakwater by default.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Hi all, I am looking at investing in rental in areas like Waurn Ponds and am trying to find out what the current vacancy rates are – any ideas?
thanks
DiHi Di
Take a look at the vacancy rate pages of the last few editions of Australian Property Investor magazine. Talk to several agents to understand how much demand there is, and for what type of properties. Also keep a keen eye on the rentals on realestate.com and see how long they take to get snapped up.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Geelong place is a good place for real estate investment. I am living there for almost 1 year.
Hi,
Wow this post was started 6yrs ago!!!How’s Armstrong creek investment looking now??
I’ve only just been approached to invest into Armstrong creek I thought it was a new release but it seems to have been around for awhile.
I’m investing through Reventon- house and land package full turn key at 403,000 is it worth it??
Thanks
Hi Rebecca,
I’ve only just been approached to invest into Armstrong creek
Whoa !! Warning – cold calls from businesses wanting to sell you property is one of the louder “alarm bells”.
There are several alarms that give a warning that you might be about to buy something that is less than it is presented to be. Other alarms include them “Wanting to check that you have plenty of Equity in your PPOR” so a cross-coll mortgage will HIDE the fact that the new property is OVER-priced.
Then there is the “Fly you free to the Gold Coast to invest…” but they DON’T allow you to have free time to check out other RE agents’ offerings. THe biggest alarm is if they RUSH you to sign the contract, AND they have a solicitor and finance all lined up for you. Run a mile in those cases.
https://www.propertyinvesting.com/buying-investment-property-off-plan-dumb/
Do take a look at a very good Article by Jason (above link). One of the more important sentences is this one:-
Having worked directly with builders myself, I’d say many were over-valued from the beginning because the sales price included hefty referral fees to pay financial planners or other industry professionals who recommended these properties to their clients.
Watch out that you are not paying over-the-odds for this place – do have a look at other comparables of similar property types in that area. If “yours” are $40k more than most, it begs the question – “Why?”
Do a Search for Reventon – I believe I have seen other posts with that name, but I don’t recall the outcomes – sorry,
Benny
Hi @benny,
sorry yes short on my writing as ive written it so much already.
I haven’t been cold called, I approached them as I have dealt with them before with an investment that fell through due to a marriage breakup.
I told them what I want to spend, they will take me on as they know I have it and are showing me what they have in house and land packages in what im willing to spend.The property is a bit more due to a full turn key at the end and they overlook and deal with it all including renting it out. pretty much all I have to do is pay the bills as such.
they do all vary its not just the one im looking at is a straight 40grand more.
thanks for your reply
RebeccaIf it is an investment, you are not trying to buy a place to suit your lifestyle. It’s only about the numbers. Look at historical and projected capital growth, rental yields and vacancy rates for each of the areas mentioned. The rear pages of “Australian Property Investor” magazine are good for this. Also keep a close eye on a couple of areas on http://www.realestate.com.au/rent to get a feel for how long properties are taking to rent. If no single house in an area stays on the books longer than a week, then that’s a fair indicator that rental property is in demand in that area.
Hi Jac,
Is there a way to find out either on http://www.realestate.com.au/rent or domain.com.au how long has a property has been listed for rent? this will help me in accessing how the area is performing in terms of vacancy rate.
Thanks
Aftabk
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