Geelong
- Thread starter Lilli
- Start date
Whittington does appear that way however it is closer to the CBD and also bordering more expensive suburbs... For houses <$200k, it seems like good potential...
Agree with this. Personally I'd look at spending more money and buying in Newtown, Geelong West, CBD near the beach and hospital or the proper part of East Geelong. (ie. away from the Whittington side).
Regards Jason.
Very similar to Whittington! Don't go there! But that's just me!
If we could all afford investment properties $350k+ that's fine to say however some of us are looking at getting into the property investing game and those areas are simply out of range. Obviously areas in the price range of <$200k aren't going to be your upper class area. We are looking at getting an idea of those that are less risk, with the potential for reasonably CG.
Ok. Have you thought of looking at Bell Post Hill, Bell Park, Hamilyn Heights? Properties in Bell Post Hill are around 200+. I know the new ring road passes nearby and this may be an attractive feature.
Other thoughts too, if you have $200k to spend, have you thought of investing in a well located flat /unit in a 1960's or 70's style block in one of the better areas in Geelong? (Eg Newtown, Geelong West, East Geelong, CBD). Possibly buy in a block that gives you at least 30% land component, and I'd look to buy a flat/unit with a car space, carport or garage.
How about something like this?
http://www.realestate.com.au/cgi-bi...r=&cc=&c=12486084&s=vic&snf=ras&tm=1253708830
Based on this similar property for rent in the same area, it is possible that you could obtain $245 per week in rent.
http://www.realestate.com.au/cgi-bi...er=&cc=&c=8268194&s=vic&snf=rbs&tm=1253710372
The maths looks fairly attractive based on our current low interest rates:
Purchase Price :$229,000
Stamping :$ 11,450
Total (Excluding conveyancing etc) :$240,[email protected]% p/a = $12046.54
Less Rent p/a = $12740.00
Leaves $ 693.46 for costs. (You would have to top in a bit more, but this property is very nearly neutrally geared).
Or this?
http://www.realestate.com.au/cgi-bi...r=&cc=&c=16391198&s=vic&snf=ras&tm=1253708956
Regards Jason.
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As a local I suggest Waurn Ponds and Grovedale because they are close to the ring road, so easy access to Melbourne and close to the beaches around Torquay so there's a lifestyle component too.
Imagine working all day on a stinking hot Melbourne summer day, and going home, grabbing the kids and eating fish and chips and icecream on the foreshore at Torquay. I think that's the real attraction of that area.
Also Bell Post Hill as mentioned because its inexpensive, and is close to the ring road.
Imagine working all day on a stinking hot Melbourne summer day, and going home, grabbing the kids and eating fish and chips and icecream on the foreshore at Torquay. I think that's the real attraction of that area.
Also Bell Post Hill as mentioned because its inexpensive, and is close to the ring road.
