Frankston North

I'll at least say this

My properties in Northern Territory attract a management rate of 11%inc gst whilst I can get a rate of 6.6%inc gst in Vic...

Many that state that rentals in Darwin are the highest in Australia are kind of kidding themselves as the rental yields aren't as great as they seem.

Plus, if you're looking for rental yield and cash flow I can think of better places,

My apologies for the hijack, just had to add.
 
Mpre Ok

Bayside said:
oh bum, well i've got my list down to Stockdale & Leggo, Hocking Stuart and MPRE Harcourts all in Frankston. Anyone have anything good or bad to say about this lot?
Cheers!
Click to expand...

MPRE Harcourts are acceptable. They had a bonza PM there for a while, then she left to do other things.;) I'm not overwhelmed with their service however I don't have any major complaints either. I remain with the devils I know.
 
From memory my property Manager charges 5% + Gst as well as some other (smaller) fees.

He is really good and would recommend to anyone.

PM if you want name/number.

Matt
 
Maybe a few experts can explain this.

as of Jan/Nov this year , at any time there was up to 40-50 properties for sale on re.com.au

Jan, Feb, Mar was averaging about 35 properties, of this a fair proportion selling, nothing unusual or surprising, just a few of them have been there for yonks

over the past few weeks, the number of sold/under contract, has increased slightly, the ones that aren't selling are still there, the odd long term one is going/gone,

as of today there is only 29 properties listed, with only 1-2 per every half week being listed as new.

does this mean that interest is quite strong, probably not booming, due to the nature of frankston, + being pushed up ever so slightly by FHOG,

however, dropping number of advertised, means either people don't want to sell, or think its a gold mine, or haven't lost their jobs and hence don't need to sell???

what do these numbers all mean???
 
Bayside said:
Your questions indicate the depth of your belief, look at the depth of your questions my friend.
Click to expand...

Thats a very vague answer bayside. Please elaberate??

Me thinks Mr Meister has done his fair share of DD. Time to do some buying.

Get in there matey.....


Matt
 
Last edited:
In response to Property Meister, some thing to consider:

1. Agents often don't remove adverts for cheaper properties that have been already sold. Why? By fielding calls from disappointed buyers, they widen their contact list. They will then tell the granny next to the sold property that "I've found a buyer for you if you want to sell." It is great for business (and when it is all too much to deal with, they don't bother answering their phones or returning calls).

2. From an economic perspective: don't make the mistake of assuming that this is a perfect market with unlimited numbers of informed buyers and sellers. North Frankston is a relatively small pond and issues like "market depth" are not always relevant. These sorts of methodologies are more suited for the stock market. What may appear to be a glut may not actually be so.

3. Look at things relative to the entire Melb market. Where else can you get dual occ sites so cheaply, relative to local incomes? Answer: nowhere in the metropolitan Melb area. And definitely not in the coastal areas of Sydney, Perth or Brisbane.

4. Do your own homework. Don't rely on agents unless they are investors themselves (this should rule out most of them). Don't even rely on what we forumites say - some of us *giggle* have vested interests. You don't need a PhD in Economics to make a decision about the cheapness of North Frankston. Cheap is cheap. And mispricings don't last forever.

I will put in the usual disclaimer before the poppy-cutters condemn me for ramping: I do own property in the area. What I own is a significant part of my retirement plan. I am a net buyer at the current time but I expect to start selling in 5-10 years from now....I urge other forumites to be as candid as to what their own plans are.
 
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help needed

I am on the lookout to buy something in Frankston/Frnkston North/Seaford.
Haven't had a lot of luck. I have a demanding job and can't take calls for most of the day as I am often with patients.

Real estate agents I've left messages with havent been very helpful.

If anyone sees any ultra-heap brick and tile properties, can you please place the links here? I'm pretty stingy so I'm looking for the best of the best of deals.

Reluctant to deal with buyers agents as they want their cut too and that means less profit come the day i decide to sell.
 
DrK said:
I am on the lookout to buy something in Frankston/Frnkston North/Seaford.
Haven't had a lot of luck. I have a demanding job and can't take calls for most of the day as I am often with patients.

Real estate agents I've left messages with havent been very helpful.

If anyone sees any ultra-heap brick and tile properties, can you please place the links here? I'm pretty stingy so I'm looking for the best of the best of deals.

Reluctant to deal with buyers agents as they want their cut too and that means less profit come the day i decide to sell.
Click to expand...

Let's see if I've got this right:

* You're busy
* You don't want to pay a buyers agent
* You want not just the best, but the 'best of the best' bargains without the effort
* You want us to post details of cheapies on a public forum

The problem with this is that if the deal's so good then others here will have put in an offer while you're still with a patient.

Would it work to find a part-time office temp and use them to take calls. And give them a checklist of questions that they must ask the agent and email answers to you so you can make a shortlist for inspection? And even pay them an amount per property to inspect anything that meets the criteria.

You'll need to pay but it could be cheaper than a BA. If you don't spend the time you won't find the best deals so this could be a case of spending a dollar to save three. You can even get a free trial here: http://www.virtualheadquarters.com.au/ but it would seem better to get a local doing it from home (eg stay at home mum) who can easily inspect a place.

Advertised prices in Franga North seem to start from $209k - does that meet your price critieria?

http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2007411547

http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2007705276
 
Thanks for replying. It shouldn't be this hard. Some of the agents clearly use bait advertising, which upsets me. I posted some of the worst cases on the Frankston thread. Will repost here:

The first takes the cake. Advertised for many months. I last saw it around Xmas. Presumably the house belongs to a friend and they have no plans to sell it so why not use it as bait by advertising it really cheaply and getting potential buyers details? I actually spoke to the agent and she is an extremely rude and abrupt person who shows no interest in selling the house.
She claims its been tenanted for years but the pics show an empty house.

http://www.realestate.com.au/cgi-bin...&tm=1240624092

The rest dont bother returning calls. Again, possible bait situations as the houses are extremely cheap.

http://www.realestate.com.au/cgi-bin...&tm=1240622141

http://www.realestate.com.au/cgi-bin...&tm=1240622141

http://www.realestate.com.au/cgi-bin...&tm=1240622141

http://agents.realestate.com.au/cgi-...plate=HomePage
 
DrK said:
Thanks for replying. It shouldn't be this hard. Some of the agents clearly use bait advertising, which upsets me.

The rest dont bother returning calls.
Click to expand...

Even better (for you). If agents don't return your calls, they're unlikely to return other people's. They're probably jaded from the tyre kickers attracted by the grant.

Which increases the chance of the person willing to spend the time & effort picking up something at a good price. You need to work out a way to be that person and if it means employing others, so be it.

Competition is the buyers enemy, and the less of it the better.

I don't like bidding or competing with other buyers and if the agent says there's an offer from someone else, I'd tell them to let them have it, and ask about other places coming up to prove you're still interested in buying something (and if there isn't actually another buyer, then you'll be told and can purchase!).
 
DrK said:
I am on the lookout to buy something in Frankston/Frnkston North/Seaford.
Haven't had a lot of luck. I have a demanding job and can't take calls for most of the day as I am often with patients.

Real estate agents I've left messages with havent been very helpful.

If anyone sees any ultra-heap brick and tile properties, can you please place the links here? I'm pretty stingy so I'm looking for the best of the best of deals.

Reluctant to deal with buyers agents as they want their cut too and that means less profit come the day i decide to sell.
Click to expand...


Geeze mate you dont ask for much.

Your not asking for help, your asking for someone to do all the work for you.

If i find a place which matches your discription il be sure to buy it. For myself that is!!

Matt
 
Yes, you are right. If I were in your position I'd buy the bargains before handing them to anyone else. :) I've been watching the market for a few months now and bargains these days are rare thing (bait advertising excluded). Anyhow, happy investing - good luck out there. :)
 
Frankston to share in $139 million jobs boost - Frankston Leader 05-05-09

Millions will be poured into reviving Frankston's sence of community and boost local jobs.

Frankston is one of six urban centres to share in $139 million to drive employment growth.

Frankston North's Community Renewal project will be one of eight sites extended to six years with a share of $8.9 million over four years.

Frankston Reservoir and Dingley Chain of Parks will receive $2 million to improve parks and conservation areas.

The suburb will also be the site of new youth mental health prevention and recovery care service, with $8 million shared between it and a new facility in Bendigo.

Frankston Mayer Colin Hampton said the government money would be well used in the city.

"The bypass money is a major boost to Frankston. The road will not only ease congestion for Frankston citizens, but make it easier for tourists and visitors to come," he said.

"The money for Frankston North is very welcome, too. It is an area that is usually neglected and now it is getting the attention it deserves."


http://frankston-leader.whereilive.com.au/news/story/frankston-to-share-in-139-million-jobs-boost/


Toni
 
Ive been keeping a very close eye on Frankston north for a while now, and ive seen a few different styles of ads, but I came across this one

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=11295806&s=vic&tm=1241955027

must admit, it quite disgusted me, no interior photos, and showing a photo which is clearly not a view from the property or anything near it....

P.S I thought the median price of properties sold was rising when a few sold for $220, $230k, $240k, and even one maybe as high as $245k, but the last few sales have been for about $210k so maybe even though its sort of FHO territory, maybe its dropping off...at these prices, $10k represents 5% so it may be significant...
 
You can probably expect to pay between $200k-$220k for a complete dump or something on a weird shape block or even a fibro. $230k-$255k will get you something nicer, probably a brick, semi renovated, or something on a decent size sub-divideable block.
 
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