Hi guys.
I am currently looking for my first IP and am quite keen on Coburg and am also considering St Kilda (obviously amongst a few other areas).
Looking at the 450k and under mark.
I've found that the more areas I research, the more indecisive I become. Presently, I'm focusing on the Coburg area and St Kilda and surrounding areas - trying to decide which one to stick with.
I am considering Coburg due to close proximity to the city, transport etc. as well as the Melbourne 2030 initiative plans. Also, low vacancy rates. I feel that this area may have good CG in the years to come.
St Kilda - appealing due to higher rental income (generally from what I've found) and location, but not sure about CG in this area.
CG is one of our main priorities, but good rental income will really help as I am currently a part time student. I plan to use the equity from this IP to then go on to buy second IP in the next couple of years or so. I intend to hold my properties and go on to build a portfolio.
I have really tried to thoroughly research many areas, and for one reason or another, these two are high on the list. Coburg is probably a better option in terms of CG from what I've read - but just unsure on this.
Really ready to buy my first IP, but hitting a wall in terms of which specific area. Both have their pros and cons, but if anyone can please share an opinion, it would really help. I am quite young and inexperienced when it comes to investing, so your opinions (positive or negative) are very valuable to me.
Not nervous at all about purchasing, just nervous that it will end up that I could've made a better decision. Also, any suggestions regarding other areas in Melbourne to consider would be great.
I am currently looking for my first IP and am quite keen on Coburg and am also considering St Kilda (obviously amongst a few other areas).
Looking at the 450k and under mark.
I've found that the more areas I research, the more indecisive I become. Presently, I'm focusing on the Coburg area and St Kilda and surrounding areas - trying to decide which one to stick with.
I am considering Coburg due to close proximity to the city, transport etc. as well as the Melbourne 2030 initiative plans. Also, low vacancy rates. I feel that this area may have good CG in the years to come.
St Kilda - appealing due to higher rental income (generally from what I've found) and location, but not sure about CG in this area.
CG is one of our main priorities, but good rental income will really help as I am currently a part time student. I plan to use the equity from this IP to then go on to buy second IP in the next couple of years or so. I intend to hold my properties and go on to build a portfolio.
I have really tried to thoroughly research many areas, and for one reason or another, these two are high on the list. Coburg is probably a better option in terms of CG from what I've read - but just unsure on this.
Really ready to buy my first IP, but hitting a wall in terms of which specific area. Both have their pros and cons, but if anyone can please share an opinion, it would really help. I am quite young and inexperienced when it comes to investing, so your opinions (positive or negative) are very valuable to me.
Not nervous at all about purchasing, just nervous that it will end up that I could've made a better decision. Also, any suggestions regarding other areas in Melbourne to consider would be great.