Ip#2 looking to purchase in Mildura VIC

[Hoolign]

Hi everyone. so ive decided the finances are right and its time for IP #2

I got my IP#1 around may this year after following plenty of advice and research up at Loganlea (20 min south of brisbane). picked up a 3/1/1 for $270k and rented it out on a 12 months lease 3 weeks later for $300p/w.

So, ive been itching to get property #2 underway. Im looking for something in the 100 - 150k mark and would like to purchase Victoria to start to spread my investments out.

I have done plenty of research and for the price and rental (amongst other things) return Mildura seems to fit what im after.

Only problem is im from the Gold Coast. so it will be my first experience purchasing interstate without even getting to physically see the property. Can anyone lend any advice i should look out for? any tips on the best way to approach this?

 

[skater]

Only problem is im from the Gold Coast. so it will be my first experience purchasing interstate without even getting to physically see the property. Can anyone lend any advice i should look out for? any tips on the best way to approach this?

After you have finished your desktop research, and if the area still ticks all the boxes you are after, bite the bullet and GO THERE. Speak to the locals, look at the area. See the good parts AND the bad parts. Is there an area that is a no-go zone for locals? There are just some things that are much better done in person.

 

[Hoolign]

Yes it may be a good excuse to just get away for the weekend anyway

however it is a pretty big trip to Mildura, i think they have local airport?

 

[newlywed1311]

Hoolign, I'm in Mildura. We have just purchased our first IP here in June. Happy to help you out in any way I can.
There are other threads on Mildura if you do a search.
Happy to give you more info on the 'no go' area's - just ask.
May be able to look at some properties for you if time permits.
It's a lovely city, I love living here.
Cheers,
newlywed1311

 

[Leikela]

however it is a pretty big trip to Mildura, i think they have local airport?

Yes they have a good airport and regionals such as REX fly there. Have flown there a couple of times myself.

 

[Hoolign]

Hi Newlywed, great to be in touch with someone from the area. I have researched a number of threads around the net not just somersoft and everybody does tend to say its on of the nicer regional towns, and fantastic layout.

Im looking at buying around the area between eleventh st and fifteenth st (near the racecorse)

there are a few properties here in the price range im looking at. Are you familiar with this area of town?

 

[newlywed1311]

Firstly, did forget to confirm that we do have a very active airport with flights from Adelaide, Melbourne and possibly Sydney (not sure if they've been reinstated as I think we had them then they were stopped). It's under $200 generally return flight from Melbourne and Adelaide, so quite accessible to the masses.
The area between 11th and 15th is huge. I take it you are speaking of the south side of the city as 11th and 15th go right across the city. The West side of Deakin Avenue is more favourable (generally) than the East side. When you say the race course, I think you must be referring to our main ovals where the harness racing is held. The only other race course is out at Nichols Point, over towards the river (not between 11th and 15th). There are quite a few lower socio-economic area's between 11th & 15th between Deakin Avenue and Etiwanda Avenue - I'm gathering this is the area you're looking at because this is where the cheaper housing is located. There are quite a few housing commission area's in there.
If there is anything you're interested in, tell me the address and I'll let you know how that area is perceived. Generally, the areas that are in the low to mid $100,000's are likely to be in commission areas.
I hope this helps but ask me anything you'd like to know.

 

[Hoolign]

Thanks heaps

yes the area your talking about is the south part. i have sent you a PM with 2 of the properties and were wondering your thoughts?

 

[our obsession]

Hoolign:

however it is a pretty big trip to Mildura, i think they have local airport?

http://www.mildura.vic.gov.au/Page/PagePrint.asp?Page_Id=1665

The Winner Is...Mildura

Mildura Airport has been declared Australia’s Rural Airport of the Year for the second time in three years.



The award was announced last night at the Australian Airports Association’s annual award presentation and conference in Cairns.

Mildura Airport is Victoria’s busiest regional passenger airport, servicing more than 155,000 airline passengers annually from around 6,800 regular passenger transport aircraft movements.

There are a further 6,200 general aviation aircraft movements which include a regular air freight service, charter, flight training, air ambulance, and refuelling and stopover visits by military aircraft.

The Airport also includes car rental operations, making it a busy hub for local business and tourist travel.

With the nearest capital cities hundreds of kilometres away, Mildura Airport has grown rapidly with demand for fast travel.

Councillor for Planning and Airport Development John Arnold said the award was vindication of the airport’s continued development, which includes the proposed Mildura Airport Business Park.

“The Airport’s five year plan has played an important role in ensuring its continued development,” Councillor Arnold said.

The current airport site has been used since the 1940s, with rapid growth in passenger travel since the construction of the terminal building in 1994.

In April 2004, the terminal building was extended. Further development is proposed under the Airport’s five year plan.






Back

--------------------------------------------------------------------------------

Date Printed: 18/08/2009
© Mildura Rural City Council 2009
Source: http://www.mildura.vic.gov.au/

More improvements to be made, not sure if they have commenced, Newlywed might know, I haven't been there (using airport) for a few months.

 

[newlywed1311]

Wow, you've got your finger on the pulse. I do know that the airport is growing very rapidly and we've got more and more air providers coming on board all the time. I know we had REX and QANTAS but I know there have been a couple more recently including Virgin and Sharp (Adelaide trips). As the article states, there is a five year plan that is being implemented and improvements are occuring rapidly.
Yes, it's all systems go here in Mildura. Have a look at our riverfront masterplan - a beautiful vision for the community. Lots of economic development, too. I guess with the drought and the threat to our primary producers and the long term viability of the community, it is opening the door to lots of visionary planning and looking at diversification of our industries. Some really great stuff is happening.

 

[our obsession]

Newlywed:

I guess with the drought and the threat to our primary producers and the long term viability of the community, it is opening the door to lots of visionary planning and looking at diversification of our industries. Some really great stuff is happening.

BINGO! Newlywed, because we live in the bush (heh!) doesn't mean we have all had lobotomies.

Seriously, it is exciting, out with the old, in with the new. Like the sound of the new sporting areas too, we finally! get to have the Harness racing track (almost) to ourselves..can't wait to see all that when it's commenced/finished.