$260 to $300K to spend for an IP in VIC
- Thread starter MohanWei
- Start date
They're a dime a dozen for that price range in Werribee.
You'll be able to easily buy in an OK part of Werribee for that budget.
If you negotitate really well you might just find something in Hoppers.
You'll easily get a 2br unit in Franga, or maybe a 1br unit in somewhere like Mentone. Reservoir, Preston and Altona are other handy suburbs with a lot of small units. Although a boring suburb, Thomastown/Lalor might also be worth a look, though again it would be a unit for that amount.
You'll be able to easily buy in an OK part of Werribee for that budget.
If you negotitate really well you might just find something in Hoppers.
You'll easily get a 2br unit in Franga, or maybe a 1br unit in somewhere like Mentone. Reservoir, Preston and Altona are other handy suburbs with a lot of small units. Although a boring suburb, Thomastown/Lalor might also be worth a look, though again it would be a unit for that amount.
What do you want? Cash flow positive/negative/neutral? For what it's worth I would always be wary of those outer-melbourne areas like Cranbourne, Pakenham et al because they will suffer the most once the cost of living goes up, if interest rates go up, unemployment rises (the demographic of the residents in those areas are those workers who lose their jobs first) etc.
Hey Mr Lightyear, that's a good find........Nice and stale also..........1645 hits.
Should attract some discounting. FWIW, whilst that is a good example that Buzz has offered, beware with heritage issues in Ballarat if you wish to go the subdivision route. You will be very restricted with what you can build if you are in that zoning and much of the city is.
I had enquired some time back and council for the most part want 500 sq m per door. They are not totally in line with the customary 300 sqm that much of Vic planning schemes acribes to.
Not saying one can't get around it, however something to keep in mind. That said as a straight buy/hold and with some discounting, one could do much worse than this Ballarat offering.
Should attract some discounting. FWIW, whilst that is a good example that Buzz has offered, beware with heritage issues in Ballarat if you wish to go the subdivision route. You will be very restricted with what you can build if you are in that zoning and much of the city is.
I had enquired some time back and council for the most part want 500 sq m per door. They are not totally in line with the customary 300 sqm that much of Vic planning schemes acribes to.
Not saying one can't get around it, however something to keep in mind. That said as a straight buy/hold and with some discounting, one could do much worse than this Ballarat offering.
A friend of mine was actually renting this place till she got booted out so they could sell.
now that's a good attitude.
Why?........
although the map shows it being in a very central area, the actual street its on and leading streets give it a really fringy feel,
also the streets are not sealed,
also the house, is quite small,
the surrounding properties are on the bad side even for this area
I didnt see inside, but I just didnt like it overall,
even the agent said, thats what a lot of people have said as well
P.S Now I remember the main reason, its got 2 easements which almost splits the property in 3 meeting almost in the middle, hence subdivding is basiscally impossible even if you tear the house down
That's the killer then.... Thanks PM.
Has to be Vic??
I have a client who is very keen to sell new 3 bed brick dwelling in large regional centre NSW with <1% vacancy rate asking $290k getting $335pw rent (6%). Happy to pass on details.... i'm not an agent and don't receive payment.
I have a client who is very keen to sell new 3 bed brick dwelling in large regional centre NSW with <1% vacancy rate asking $290k getting $335pw rent (6%). Happy to pass on details.... i'm not an agent and don't receive payment.
I have property in Drouin and Bendigo in Vic - happy with both and both fit your price range.
