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Look at this recent thread: http://www.somersoft.com/forums/showthread.php?t=58272

JulieW - Over the past 3 -4 month I have been reading numerous books/magazines/forums trying to educate myself financially. I am starting with basically very little in terms of assets and some equity in my house. I am also on a good terms with my bank manager, so the loan has already been...

You are absolutely right JulieW. It's not even the absolute minimal price but the time it takes to make something like that feasible. I've only just started looking at Frankston South. It's an exciting time of studying the different areas (Thanks to all members here for helping out) and...

Thanks Brando22 and JulieW. Just spoken to the agent that's handing the property. The house needs to be pulled down so no go here! He did give me some additional info to complement my research. He indicated that the following streets are in high demand, all being south side of Kara road...

Thanks JulieW. This block of land is a good find. However I am not planning on building right away. I am hoping to rent the place out for at least 3-5 years, so I need to have a renovatable house on the block. What did you think of the once I've picked earlier?

Thanks very much for your insight Ms Jade and toony. Would you mind having a quick look at couple of these properties, just to give me the general idea: http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=106191690&f=30&p=10&t=res&ty=&fmt=&header=&cc=&c=9941138&s=vic&tm=1261312834...

Thanks for all your replies. toony - you are right, I am trying to research as many places as possible. Being a relative novice, I am looking for an area with the best possible future return. (aren't we all :rolleyes:) I live near Highett. Unfortunately Highett and other bayside areas have...

Howdy all, I am finally "sold" on Frankston South idea. (partially due to prices in mentone/parkdale/moridalloc) are simply too high. I don't really know much about the area but would appreciate any pointers in terms of which streets/pockets are worth buying in. Any info would be much...

Lots of viewers but no replies? :(

Howdy all, Would like to hear your opinions on buying IP in Epping. I believe the Footscray fruit market is being relocated to near Cooper street. http://www.majorprojects.vic.gov.au/our-projects/our-current-projects/melbourne-market-relocation From what I understand, there will be an...

Thanks Y-man

Howdy All, Lately I've been "hearing" lots of positive vibe about Greensborough. It is definitely up and coming area. Most sentiment is centered around St. Helena road. Has anyone invested there? What are you thoughts on the area? Cheers Vlad

Thanks for your comments JulieW The prices in beachside of mentone and parkdale have moved even further up in the last two month. May I ask, which area did you end up buying in and what did you get? I am also looking for a 2 or 3 bedder unit or older style house on a reasonably large...

Thanks very much Marc for your reply. I couldn't agree more with you. There simply no more well priced properties in Carnegie, Brighton East and the likes. There hardly a point in buying a property on 2-3% yield. My plan is to buy and hold for a long term. CGT is not as important as a Positive...

Thanks. JulieW - So Julie, did you move along the coast to Mentone or Parkdale?

Howdy all, Looking to purchase an older house on a good size block of land in these areas with a future potential of sub-dividing. Would love to hear your opinions on the area and potential future growth. ta Vlad

Rick, Which areas do you favour?

Both Harris and the Y-man thanks heaps for your prompt replies. Your advise is both sound and timely as I was very keen to sign up for Miller street property. I suppose my primary driving force is a knowledge of the area. However as an investment it is cash flow deficient and will be so for...

Looking to buy my first IP. Been looking at: http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2008055970 Vendor is considering private offers, I would have to pay 640k to be in the running. Rental is around $400-450 per week. Needs cosmetic renovations. Close to Sandringham 2ndary...

Deltaberry and JulieW - What's lucrative about buying an overpriced property with a 2 or 3% yield? Buying a 600k property with a $360/week rental isn't a very sound investment is it?