Clayton Vs Forest Hill?

[willister]

Hi All,

Opinions needed please...we've narrowed it down to two after going back to the drawing board to see what fits out budget best. We're going in with a 70-30% split as my brother in law doesn't feel very comfy with the market at the moment so he is reducing his share.

The only problem really my BIL is wanting Clayton and me and wifey Forest Hill.

It's really a battle between closer to CBD (Forest Hill) no trains vs. further from CBD but no has train access.

Budget: $650K to $750K absolute max.

Purpose: Park our money, yes we understand market risks and it may fall. It is likely we would move in and buy off my BIL about 5 yrs or so down the track.

Thanks.

 

[The Y-man]

Clayton is great for rentals BUT very pricey at the moment - maybe have a look at Clay South as well.

FH is very much "in between" the action - nice as a "live there" proposal, but in terms of rentals - not sure. Transport is a big issue unless you are near Springvale rd to get on the 902.

The Y-man

 

[The Y-man]

We're going in with a 70-30% split as my brother in law doesn't feel very comfy with the market at the moment so he is reducing his share.

Wait, hang on, why would you go ahead? If the BIL is uncertain, I wouldn't even bother trying to go ahead in a joint deal!

The Y-man

 

[bbmick]

Wait, hang on, why would you go ahead? If the BIL is uncertain, I wouldn't even bother trying to go ahead in a joint deal!

The Y-man

Right On!

Best way to break up a family (or friendship).
Both parties need to be on the same wavelength.
Personally, I would rather look at cheaper property (100% me), than go ahead.
But then, I'm probably the type to never joint venture in any situation as I like to have full control of the situation & not stress over what someone else thinks.

 

[jackbak]

Agree with the above, not much upside in the deal for you. I'd spend the 70% ($455-525) and get something on my own.

 

[cmason]

It's really a battle between closer to CBD (Forest Hill) no trains vs. further from CBD but no has train access.

I wouldn't consider Forest Hill closer to the CBD, if it is only by a negligible amount(couple of kms)