investment in Drouin or Warragul

Hi,

I am looking at an investment for a SMSF and due to limited ($350) ceiling based on amount in fund am looking at more regional areas. I am after buy and hold (rent) and would like cash positive or at least neutral (20% deposit). I was looking at Ballarat but a friend who lives there has noticed a slump in sales and empty rentals. Based on that I have researched a few other areas and am now looking at Drouin or Warragul...leaning towards Drouin. Would really appreciate thoughts on invest and hold in Drouin? Or Warragul. Oh, and any estate agent recommendations for the area would also be appreciated.

Thanks in advance
 
AFAIK, Drouin is being promoted as commut-able to Melbourne. There is a new "Park+Ride" (not sure about capacity), but the downside is there is HEAPS of land opening and available in the area. This will mean that demand will easily be satisfied without driving prices higher, IMHO.

The train station redevelopment in Warragul (maybe THIS one will happen :rolleyes:) may make it a little easier to commute, too. But like most of the Victorian regional Very Fast Train lines, they managed to cut 3-5 minutes off the 60-80min trip! :eek: Wow!

So your target market is people who think they will get a country lifestyle while still being within reach of the city. These are people who will probably want to buy, not rent. Just my 2c.
 
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