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    Mornington - VIC

    Hi Bernie, Thanks for your response! The place I was considering in Mornington is about 20-25% below market value hence why I thought it could be a viable option. I think I can get a minimum $350 a week for it which will see me yielding somewhere around 4.7%. Bendigo is a nice town, I travel...
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    Mornington - VIC

    Hey Hugh, It appears growth has slowed over the last 3 years in particular. The 5 year growth is at 26% but the 3 and 1 year growth only shows a measly 3% for each period. So yes technically it has seen an average annual growth of 5% over the past 5 years which is passable but that trend has...
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    Mornington - VIC

    That's great feedback guys, really appreciate your insight. Good points raised around the local jobs issue, I definitely agree there isn't enough on offer nor will there be in the near future to attract a higher influx of people to the area. It really is a beautiful place to live but probably...
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    Mornington - VIC

    Hey Jackbak, Fair call. The demand in neighbouring areas is definately not high enough to see any overflow, not yet anyway. I don't believe historical data is an accurate indicator of future trends to come but regardless they sure do make you think twice hence this post to get more thoughts...
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    Mornington - VIC

    Hey all! I'm interested to get people's thoughts on Mornington (VIC) as a potential area to invest in. The place I'm considering will yield 5% which isn't too bad and partially one of the reasons I'm considering the location. Statistically, it has performed quite poorly over the past 5...
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    Frankston - The half million dollar suburb...and then some.

    Wow that vendor got themselves a great deal! Great location, definitely not worth $563k though!! IMO
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    Let the hunt begin for an IP in Melbourne!!

    Thanks strongy I'll look more into Broady and Tullamarine. Leaning toward Frankston only because I'm more familiar with the market and have a couple of friends who have already bought out that way for good reason. There's nothing happening in the Dandenong North market. There seems to be a...
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    Let the hunt begin for an IP in Melbourne!!

    Thanks for the suggestion James. I know that area very well. I would definitely jump at Springvale if I could get in under $400k but realistically the chances of that for what I'm looking for are nil. That pocket isn't the greatest location IMO either. It's neighbouring a very industrial part...
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    Let the hunt begin for an IP in Melbourne!!

    Makes sense, it looks like there will be an over supply in these areas for some time to come.
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    Let the hunt begin for an IP in Melbourne!!

    Thanks jpcashflow! I'll take a closer look at Deer Park, Sunshine and Thomastown. I actually have a place in Dandenong North already and I must say it hasn't done much at all in terms of gains. It is a townhouse however but in general it does't seem like much is happening north of Dandenong...
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    Let the hunt begin for an IP in Melbourne!!

    Hey all! The time has come to buy my next IP. I have been approved for $400k. My strategy is to buy and hold and look to build equity through renovations to the existing dwelling and possibly look at a subdivision down the track - so looking for something over 600sqm at least. My...
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    Investment Advice Needed - Melbourne

    Yep Sydney is a joke at the moment! :) Speaking of Frankston, are there any new developments coming up in the next couple of years that anyone is aware of? The area hasn't really done much over the past 3-5 years in terms of capital gain. Had a look at a few options out that way and it seems...
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    Where to buy in Melbourne Thread.

    I'd attribute the recent gains in Clayton to the increase in developer interest due to having Monash University in the area and the huge influx of international students looking for a home away from home while they complete their studies. I grew up around there and there has been a lot of...
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    Investment Advice Needed - Melbourne

    Thanks Jake! That's some great advice. To answer your questions: One of them is our home. We are on a 80% LVR through our lender to fund the purchase. Our debt after this loan will total $1.126 million across the 3 properties. Our current total available equity is $406,000 across our existing...
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    Investment Advice Needed - Melbourne

    Hi Peter, Thanks for the advice! Good stuff. Ringwood does appeal to us, it is really a nice area and plenty of developments going on that you would think would add to capital gains over time. Certain parts of Ringwood North and Heathmont even return decent rental yields. If we could get...
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    Investment Advice Needed - Melbourne

    Thanks Beanie Girl! We'll have a look into it. We've always been biased to the south and east having grown up around here so we are quite oblivious to other potential suburbs on the north and west. Appreciate the suggestion :)
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    Investment Advice Needed - Melbourne

    We are still very interested to get some feedback of good areas n Melbourne (leaning toward the outer East and Bayside areas), areas where steady capital growth will be achievable and relatively good rental yields. We are shopping in the $600-700k bracket so areas in this range would be ideal...
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    Investment Advice Needed - Melbourne

    Thanks Peter, that's good feedback. We plan to see a financial advisor so we can crunch our numbers more accurately. We are still in the very early stages as you can see.
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    Investment Advice Needed - Melbourne

    $690,000 x 4.27% / 12 months = $2455 per month interest $460 rental income x 52 weeks / 12 months = $1993 per month income I know we haven't taken into consideration additional holding costs but this was just a rough calculation to begin with. Financially we are able to service the loan...
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    Investment Advice Needed - Melbourne

    We have decided it would be best to talk with a financial advisor to review our plans and discuss other possible options for our investment strategy. Can anyone suggest a good one in Melbourne in the mid to outer south eastern suburbs? Thank you
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