Investment Ppty advice sought

Howdy all,

I am looking to purchase an investment property in Melbourne - not comfortable with interstate investments.

I wish to keep my deposit at around the $80,000 mark for this purchase. Happy to pay lenders mortgage insurance.

I am primarily focused on capital growth as rental income is not as important to me as my surplus income is around $8-10k net per month. I would also be interested in something with future development potential.

I have grown up in the S/E burbs, but I am open to investing in other areas around Melb.

Am I best speaking to a buyers advocate? Are they worthwhile?

Any advice offered would be very much appreciated.

Thanks.
 
Consider CGT so consider living in the property first and then converting into an IP.

Will most likely be purchasing these properties in a trust, giving me the ability to distribute any capital gain (if I sell) and therefore forfeiting any PPOR concession on CGT.

I have no intention of moving. I am just seeking advice as to where to invest.
 
Have a look around the inner - mid western suburbs of Melb as some are in the process of gentrifying where some good opportunities can still be had even though certain areas are very much under the investor spotlight. There's some good threads here if you do a search.

Would you consider outside of Melb?
 
Hi

Hi MFB,

Great to see if you have a goal in mind: EG future development site.

Depending on your actual borrowing capacity there are some really good areas to look at in Melbourne.

If you need anything let us know :)
 
Borrowing capacity is around $1.8m however I wouldn't want to have anywhere near this amount of debt.

I think bugdet wise, I would probably be anywhere from $400-$700k.

What areas would you recommend based on this kind of budget?
 
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