Blowfor Frankston ?

[RedCat]

Going back to your point, we would never really know for certain whether you would live in Toorak, South Yarra or Camberwell because I assume you are not the financial position to decide anyway or afford to live in those suburbs. It is ok to be honest, I've made it pretty clear to JIT that I can't afford the front fence of Toorak. Perhaps when you have all the money in the world can a rational decision be made. At the moment, all the talk is for illustrative purposes.

Honestly though, if you won the lottery like the British couple, I'd doubt you would still live in your current PPOR but of course you will attempt to dispute me because no one wants to contradict themselves because it will just make themselves look silly.

Gee I don't know if I could afford a house in Toorak, Camberwell or South Yarra because I've never searched for those locations on RE.com because I DON'T want to live in them! That's the point I was trying to make that you don't seem to understand.

If I won the lottery I would retire and move to QLD. I wouldn't move to Toorak.

 

[DeeHwa]

Classic.
http://www.mayoclinic.com/health/narcissistic-personality-disorder/DS00652

You obviously don't have a sense of humour or get sarcasm.

 

[sash]

Sniff...sniff....fee fo five fum....I smell DeeHwa...the mummy's money investor...his mates Deltaberry and Aazar will follow with their respective diatribes about how much better Toorak and Brunswick are better.

So sad....you can't have a intelligent discussion without these people hijacking the thread.


Sad...really....

 

[Gools]

You have 7x the maintenance costs.....
How much would it cost at the two different locations to get tap washers changed. No way would it be the same for Toorak and Frankston. Maintenance costs would be much higher per property at Toorak so you can't say 7x.

5. You also pay 7x the sales agent fees....
Really? Don't agents in Victoria use commision based fees? Could you sell your Toorak Mansion for $10k? I could see it potentially being higher but not anywhere near 7x.

6. There are also a plethora of 7x expenses out there such as insurances.....
As above. No way would insurance be the same on a Toorak house as it would be at a Toorak house.

Certainly an interesting direction this thread has gone. It would be interesting to hear your thoughts on this subject in 10 years time DeeHwa. That extra experience will teach you a lot.

Gools

 

[Deltaberry]

And this thing about mainland Chinese you keep mentioning. Have you heard the theory of the accidental millionare? A large number of these Chinese have become wealthy purely by accident, they've seen their business income go up by rediculous levels due to the economic growth, then bought cheap property and seen that also go up rediculous levels due to whats going on over there. I'm talking 100%+ in 12 months. A lot of them have a "p

Hah that's the biggest insult ever! Most of these millionaires are around 40-50, which takes us back to the generation born between 1960 and 1970. Go and ask these millionaries what they've experienced for decades.

Great Leap Forward, Cultural Revolution, Gang of Four, Tiaanamen Square. Accidental millionaire? I know plenty of Chinese multi-millionaires and none are as accidental as what you make it out to be. When you're in a country with 1.3 billion people and everyone's starting from ground zero fighting their way up, you don't become a millionaire accidentally when there're still hundreds of millions in your country earning less than US$500 per month.

Your comment reflects one thing I've always been pretty convinced about. That is, the western myth about China is built on nothing but prejudices they gain from watching silly documentaries made by local television and Americanised movies like Mao's Last Dancer.

Absolutely revolting. I hope you don't think Falun Gong used to be an independent country yea?

 

[Deltaberry]

Sniff...sniff....fee fo five fum....I smell DeeHwa...the mummy's money investor...his mates Deltaberry and Aazar will follow with their respective diatribes about how much better Toorak and Brunswick are better.

So sad....you can't have a intelligent discussion without these people hijacking the thread.


Sad...really....

Still bitter from the last intelligent comments I made? Very interesting way of building up your post count. 1600 of useless posts inviting fire. I'm sure the mods will catch onto this and would invite them to. I wasn't even in this thread and you invite me into an argument with comments like that. So childish. Typical for people your age doing what you're doing (ie not much)

 

[jcwc888]

The super wealthy dont typically bother with residential property outside of the PPOR and a holiday house. The super wealthy understands the need for cashflow so stick with a mix of tennanted commercial IP's and the occassional development.

And this thing about mainland Chinese you keep mentioning. Have you heard the theory of the accidental millionare? A large number of these Chinese have become wealthy purely by accident, they've seen their business income go up by rediculous levels due to the economic growth, then bought cheap property and seen that also go up rediculous levels due to whats going on over there. I'm talking 100%+ in 12 months. A lot of them have a "p

Due to this, they may have a slightly unrealistic expectation of growth over here and may be a bit unhappy and pull out when it doesn't pan out the way they think it should. A lot of them have a "peasant" type of background, and cannot read or write let alone understand economics.

I'm not denying they aren't having an influence over property prices NOW, but when they are lucky to average 10% pa growth when they are used to 100% pa growth, what do you think they will do?

I think your assertions about the mainland chinese which are super rich are wrong. Mainland chinese (i am talking about the super rich ones) are some who basically own tin mines, multiple factories, construction from China. They carry AUD20K in their pockets where one of them was on border security - and all he said was it's normal. As there is lack of trust in China, people get worried that the wealthy could get targeted a lot of them try to move their money here and park it here. They buy property and just leave it empty or for their children to study. Wesley college has a high percentage of mainland chinese students.

They're alot of articles on the papers of them jetting in to buy. and it is well documented in the asian papers and by the agents & i know this too that a mainland chinese buyer once walked down toorak and decided he liked one house.. knocked on the door and made an offer too good to refuse and bought it.

There is also the concern that once the FIRB closes their stance on foreign investment, these chinese are afraid they will not be able to park their money here. They're very specific and won't purchase on certain areas like for example broadmeadows or hoppers crossing or frankston.

Suprising enough - a lot have purchased in point cook as was reported in their asian papers.Again this is specific trend emerging.

Yes some are accidental millionaires and some are peasants but majority are very tough business ppl and will got to extreme lengths to get want they want.

End of the day - purchasers may see this as higher entry point to real estate where else sellers may see this as a golden opportunity to reap the benefits of sale to these mainland chinese.

 

[Savanna100]

FAR OUT !!!!! Could we please get back to discussing Frankston, I'm actually interested in doing some research on that area !!!!!

Damn, it seems like there are several w*nkers on here, no wonder some of the old hands have disappeared !!!! Geoffw, can we have some rules about this or start a section of the board especially for these turkeys.

argh !!!!!!

 

[amazing_venice]

Groundhog day.... Ditto Savanna. I've ready this same argument from Deewha/Deltaberry about 10 times....

But, back to the OP's original question, todays news lines tomorrows waste basket, and I think the security guards will disapear and no-one will remember this initiative in 6 mths time. Don't think it will hinder or better Frankstonians....

 

[Luv2Travel]

Savanna100, I agree so many threads are 'hijacked' by the same few individuals stating the same thing over and over again. I'm not innocent though, I bit, and fed the troll in this thread - just couldn't help myself.

With regards to Frankston, there are 1000's of posts regarding it, so I'm sure you'll find plenty of information on it. To answer the original post, I don't think that the security guards will be a bad thing for it. Frankston does have crime issues, that's not unknown, but if they are seen to be doing something about it, then I can only see that as a good thing for it.

My personal opinion on Frankston in general, I've liked it for years. Before I was in any position to buy, in fact might have even been while I was still studying, I would drive through it as I regularly go to Mornington and would always think to myself the place is so cheap, but it's so beautiful. It's just unfortunate for the undesireable people down there, although with time, hopefully they will move out of the area. Some people have that general perception that the whole place is full of these people and it's a scum hole, but they are usually the ones who haven't been there. I have this view a bit I guess with the western suburbs of Melbourne, I didn't grow up there, I don't know the areas so I'm judging it on reputation and media, which is unfair because I'm sure there are nice areas just as there are in Frankston. Frankston is made up of different areas as I'm sure you are aware, the north to me is still a bit scary - and I'm judging that from my experience of driving through it recently. I know people are getting great returns and good on them, but for me who wanted a safe hassel free long term investment I wanted something that would be more likely to attract nice families. For this type of investment I like the Lakewood, Whistlestop and can't remember the other one, it's just south of Cranbourne Road estates, there are some beautiful homes and you can just tell it's a bit more family orientated and has quality homes. Over time though, when/if the crime rate drops and it loses it's bad reputation the beach areas will obviously be gold but like I said, I didn't want the hassel of dealing with 'scary' tenants and that area is still a bit rough I believe. Then, if you're planning on developing then, yes go for the old areas with big blocks of land and houses to be demolished. I think it depends on the type of investor you are, which will decide what area of Frankston you choose to buy in. It is 40km away from the city so it will always be an outer suburb, but the fact that it's beachside (everyone says buy land, it's limited - well bayside land is even more limited), I think it can only keep going up as it has a lot of good infrastructure down there. I'm sure someone will abuse some of my OPINIONS but please don't, these are only my observations and personal opinions. I do have a property down there so have been down the road of 'what do I buy?' for Frankston.

 

[BayView]

And I know for certain that buying properties in Frankston, Melton, Werribee etc...ain't going to get me there, haha.

I would disagree.

Most property investors when starting out are not that well off financially. There is no way they could start at the Toorak level to play this game.

So, they need to start with ya cheapies in places like Frangers etc; get a foot on the ladder and set the wheels turning.

Then, they continue to sit on them, buy again as they can afford and accumulate a few - say 4 or 5 with good rent yields; maybe even a potential sub-div site thrown in.

Over 10 years or so, with some cap growth over their "footprint" and with some good money management habits, they will be in a position to move up to a Toorak or something of the like.

Personally, I would rather spend $2 mill on a mansion with "to-die-for" bayviews in Dromana than $1.5mill on a standard family home with no view and neighbors crowding around you in Toorak or Brighton. But, we are not city folk that have to be near the "buzz" or be there for work proximity anymore, or try to be a "keeper upper with the Jones" in ya postcode suburb..

With regards to Frangers; it is a place that is steadily moving up in price. I know, because we own an IP there, and my SIL owns a house in Nth Frangers. We've both been owners there since 2003.

This means that your low-life element - who frequent cheaper areas to fit their loser life and lifestyle - will be forced out.

As they get forced out, and a decent element of humanity slowly moves in, the area improves. This is what happened to Oakleigh, where as a kid we lived there because my parents were broke and had to rent a divided house backing on to the railway shunting yard. It's now a strip mall by the way.

Now, the worst period home in the place will go for $500k and probably be massively renovated or pushed over for a newer version.

Full of professional types and retired folk with a few bob (my Auntie and Uncle for one example) - no druggies and other various welfare losers in sight. The whole joint has been "gentrified" as they say.

(sorry to all the properly qualified welfare recipients out there; but you get what I mean).

 

[Minx]

Personally, I reckon all this 'Toorak snob' and 'little soul' thing is over-exaggerated. We hear all the stories (I have numerous times and I have worked on a number of luxurious mansion developments in Toorak given I work in the property and construction industry to know a thing or too about these feelings) but I think it is more just Toorak residents preferring some privacy away from the glitz and glamour. Many residents of Toorak are either celebrities, business leaders or successful in whatever field/industry they are in so of course, you don't expect them to act aloof and chat to all the neighbours. All in all, it is probably tall poppy syndrome and obviously you'd prefer to be in the position of wealth than not.

This is of some interest to me.

What's your DB-U?

Otherwise who do you work for and what do you do.

We may have crossed paths, other half may even know you if the above is indeed correct.

 

[DeeHwa]

This is of some interest to me.

What's your DB-U?

Otherwise who do you work for and what do you do.

We may have crossed paths, other half may even know you if the above is indeed correct.

I don't have a builder's licence as I am a QS. It was probably misleading what I said for you to assume I am a builder.

I assume you guys are either developers, builders or subbies. I wouldn't be surprised if I have crossed paths (if I am correct in my assumptions).

Also, even if I have a DB-U, why would I disclose that on a public forum or to someone I don't know?

 

[jcwc888]

Savanna100, I agree so many threads are 'hijacked' by the same few individuals stating the same thing over and over again. I'm not innocent though, I bit, and fed the troll in this thread - just couldn't help myself.

With regards to Frankston, there are 1000's of posts regarding it, so I'm sure you'll find plenty of information on it. To answer the original post, I don't think that the security guards will be a bad thing for it. Frankston does have crime issues, that's not unknown, but if they are seen to be doing something about it, then I can only see that as a good thing for it.

i Agree frankston needs security guards. I base that on living 3 years in boarding school at Mt Eliza's peninsula School and the only way back then was to get to the station was through Frankston by bus. It was a scary experience. Skinheads swearing, looking to have a go at you. Over time with the monash university twinning programs more students, development. It's got some nice spots but i go sometimes to look at property and all i can say is that it still has the same stigma it had many years ago. scary.

 

[The Donners]

http://www.yourmortgage.com.au/news/3875/default.aspx

Greville Pabst, CEO of the WBP Property Group, has predicted that Melbourne property prices will rise by a further 10% in 2010, taking the median house price to between $550,000 - $600,000.

In particular, Pabst identified Melbourne suburbs Berwick, North Melbourne and Frankston as hot performers in 2010 noting that "these areas performed well in 2009 and with continued development planned for each, property values will benefit further."

 

[Deltaberry]

Personally, I reckon all this 'Toorak snob' and 'little soul' thing is over-exaggerated. We hear all the stories (I have numerous times and I have worked on a number of luxurious mansion developments in Toorak given I work in the property and construction industry to know a thing or too about these feelings) but I think it is more just Toorak residents preferring some privacy away from the glitz and glamour. Many residents of Toorak are either celebrities, business leaders or successful in whatever field/industry they are in so of course, you don't expect them to act aloof and chat to all the neighbours. All in all, it is probably tall poppy syndrome and obviously you'd prefer to be in the position of wealth than not.

Look people can bag you all you want for your age. Reality is they probably didn't even acheive half of what you did at your age so the least that can be said is you're off to a better start than most here.

All this talk about Toorak 'snobbery' or 'little soul' is all very prejudicial if these posters really thought about what they're saying. Have they lived in Toorak? Do they mix with that crowd? Probably not. So why all these sweeping generalisations? Do you really think a successful businessman living there is really going to snob someone off because they don't drive a German import car and walk around with an air about them? They're people too for christ's sake and enjoy a weekend barbie just as much as anyone else. People accuse you of making sweeping generalisations about western suburbs being for 'losers' (which for the record that's something I've never seen you say). The same people are just as prone to making similar statements. How do you think all the Toorak people feel when they realise you all call them snobs? Not that there'd be any here... and for obvious reasons.

 

[Savanna100]

I'm particularly interested in Frankston North,(mainly the bit known as the Pines). I remember a few years ago, you almost couldnt give those houses away.

My former husband grew up there and had told me many stories about those days. I'm still in touch with a couple we knew from there who moved out to Carrum Downs when they married but have recently moved back after taking early retirement.

It was a housing commission area full of really struggling English migrants in the early days. I'd be interested to know which social grouping has replaced them. (Most of the original owners would be in their 80s or 90s now if still alive).

I'm hoping to get a site there which I can radically alter/update the front house and build a second unit in the rear, probably both for resale... It will probably be my second development after one I have planned for my current IP in Vermont. It's all good practice because I want to learn more about the planning system in Victoria in case I need to get a job there in the future (I'm currently a town planner living in Canberra).

I have also been looking at Heathmont, Bayswater and Ringwood too but am tempted by the low entry price of the Pines.

Please feel free to advise me.

 

[super_sam]

On second thoughts not worth explaining it to those that cannot stand on their own two feet

 

[Bayside]

Hi Savanna, check out my thread on Frankston North. I'd say go for it! You won't look back

 

[Savanna100]

Thanks Bayside, I really appreciate the support. Yesterday I rang one of those friends in the Pines mentioned in my post above and she was telling me her block is quite large and that both her neighbours (on either side) are elderly and that she may be able to have a word with them to see if they had future plans to downsize so here hoping something comes out of it.