Bayswater or Mornington

HI All,

I just found 2 Prpeties and both look good to me.

bayswater-1000+ sq2 and close to everything old house with 260 rent asking 440K

Mornington -880 sm2 and 360 rent? asking 420K

Any ideas this is going to be my 2nd IP?

Thanks,
 
HI All,

I just found 2 Prpeties and both look good to me.

bayswater-1000+ sq2 and close to everything old house with 260 rent asking 440K

Mornington -880 sm2 and 360 rent? asking 420K

Any ideas this is going to be my 2nd IP?

Thanks,

Well, cashflow is obviously better with the Mornington property and there is the Peninsula Link deveopment which will cut travel time between Mt. Martha and Carrum Downs by 40mins to 17mins.

http://www.linkingmelbourne.vic.gov.au/pages/about-peninsula-link.asp

More land is good though and Bayswater is closer to the city so there is an argument for both sides.

From a cosmetic point of view, I would say Mornington is far more attractive.
 
Hi All,

One of the property got big gum treee so can we cut these trees if we contribute to the council?

Thanks
 
HI All,

I just found 2 Prpeties and both look good to me.

bayswater-1000+ sq2 and close to everything old house with 260 rent asking 440K

Mornington -880 sm2 and 360 rent? asking 420K

Any ideas this is going to be my 2nd IP?

Thanks,

Personally, I think Mornington has more going for it than Bayswater.
 
Im also more keen on Mornington overall.
But the question poses do you personally have any plans to do something with the land in Bayswater? or would you keep it as one large block?
If you are looking at subdividing developing etc. perhaps Bayswater is the go
 
Bayswater has a station.

Not sure how long it takes by Public Transport to get to town from Mornington.

Regarding the tree - ring up the council and ask.

The Y-man.
 
Hi All,

One of the property got big gum treee so can we cut these trees if we contribute to the council?

Thanks

Just googled and it appears Bayswater is under Knox council. Unaware of their stance about vegetation orders and protection. Perhaps navigate the council website for info and their regs, or give them a ring.

If it were Maroondah, good luck chopping anything down :cool:
 
Depends what your strategy is. I LIKE mornington infinitely more as somewhere to live, but that's not what you're asking. As an investment, I would choose the bayswater property no question (unless it's on a main road, next to the station or some other negative feature). But that is because I invest for CG rather than yield. From what i see around Bayswater the council is pretty development friendly and I would try & hold that block for a few years before putting units on it.
 
Just googled and it appears Bayswater is under Knox council. Unaware of their stance about vegetation orders and protection. Perhaps navigate the council website for info and their regs, or give them a ring

Yes, I went to Knox and found it got vegetation overlay and cannot cut that tree.

I'm really interest for doing the developments in this but i got 450 to play. with the rental of $260 bit hard to put out of the pocket $330 per month roughly?
 
I personally prefer Bayswater myself due to its location. You have a train station, council doing a lot street improvement, the mall has had millions poured into renovations and it is a 5 - 10 minute drive to Eastlink.

As for a rental whenever we have a vacancy we tend to have very short vacancy periods in this suburb with good quality tenants applying.

You will find when driving through Bayswater there are nicer pockets and not so nice areas. Walking distance to the train station and Mountain Highway are always popular properties.

I personally have invested in this suburb as well as Wantirna and have been very happy with its progress.
 
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