IP in Hoppers Crossing/Werribee (VIC)

sash said:
DeeHwa



Just to give you some perspective ....most of the people I know who have substantial portfolios do not target the $600K houses? Why because..once you buy one it will be a few years before you buy the next!;)
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Well that might be reflective of the fact that the people you know have incomes sub $100k and don't have much wealth to start with?

So the question is why are they in that position.
 
feihong said:
I thought it would be a good link to post here:

http://www.somersoft.com/forums/showthread.php?t=54291
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Did you see the comment about inner city boom started in the 96/97 phase so the data misses it? Another issue is right now we are experiencing an inner city boom so the data has missed the months of August, Sept, Oct and Nov. Over just Oct and Nov I made a good 15% cpt gains on an inner city place I just bought.

If I were to extrapolate data, it'd equate to 90% per year or 270% over 3 years or 900% over 10 years. I obviously haven't compounded it, and that said this is an interesting period but nonetheless the point is there.
 
The simple fact is people who live/look to live in Werribee etc. just don't have enough income to service a negatively geared property. This means that they miss out on the potential growth that could be experienced in a more affluent suburb. It's always a trade off between capital gain and yield - it is extremely difficult to find both, since a good suburb's price would have its yields fall significantly due to the large amount of investors looking in those areas.

On the other hand, no one looks at Werribee (except if they have no money) so of course the yield will be much higher to entice someone to buy it. It's simple maths people!
 
Deltaberry said:
Did you see the comment about inner city boom started in teh 96/97 phase so the data misses it? Another issue is right now we are experiencing an inner city boom so the data has missed the months of August, Sept, Oct and Nov. Over just Oct and Nov I made a good 15% cpt gains on an inner city place I just bought.

If I were to extrapolate data, it'd equate to 90% per year or 270% over 3 years or 900% over 10 years. I obviously haven't compounded it, and that said this is an interesting period but nonetheless the point is there.
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I think most of us here have experienced that surge in boom (with inner and mid ring east), but if you remember correctly, quite a few of us would have also gone through last year's depressing period where there is excess stock on the market with more expensive areas, and that's the period when cheaper places win out (grow steadily). In boom time, good areas jump, and cheaper areas just hum along as usual.

Of course, horses for courses.
 
feihong said:
I think most of us here have experienced that surge in boom (with inner and mid ring east), but if you remember correctly, quite a few of us would have also gone through last year's depressing period where there is excess stock on the market with more expensive areas, and that's the period when cheaper places win out (grow steadily). In boom time, good areas jump, and cheaper areas just hum along as usual.

Of course, horses for courses.
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Horses for courses. I've said that continually in almost every reply so far. I'm just bemused that some others think they've found the holy grail, and that this holy grail is to buy several places in Wyndham.

At least you're sane, like deehwa and aazar.
 
I would always be wary of the large government projects that are foreshadowed to be constructed in the area - we all know that governments (particularly local and state) are slow and are 'flexible' with the truth. I would not commit $200,000+ to a property on the whims of a promise by a government. That is just imprudent and wishful thinking. Besides, even if the government project was to go ahead there's no certainty it would transform the area.

Case in point - DOCKLANDS --> People lining up to buy off the plan because they think it's the next best thing because of government/developer grand plans, and now they're still holding those apartments 10 years later with no capital growth in spite of all the money put into it.
 
Deltaberry said:
It is not better to havea properly financed house in Sunshine than a not properly financed house in Toorak.
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I appreciate your input. As stated in many of my other posts, I do not own any IP’s as yet, so I guess ill have to wait and see by my own experience if this is true or not. :D

Deltaberry said:
You should avoid listening to anyone's investment strategy like it is gospel. Everyone has their own way of investing and some ways are not suitable for you and some aren't suitable for me. But as I said continually that doesn't make your way the right way or what you know the absolute truth
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Oh, I don’t claim “My Way” of investing is the “Right way” or the “Absolute Truth” etc. Its interesting to read the varied opinions and to discuss. That’s what its all about really. :D

Cheers

Mick
 
Aazar said:
The simple fact is people who live/look to live in Werribee etc. just don't have enough income to service a negatively geared property.
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There are multi millionaires who live in Werribee and the surrounding area.

How do you explain that? :D

Cheers

Mick
 
I am pretty sure that if you are a multi-millionaire that Werribee would be one of the last places that you would live. Even if you wanted to be low-key there are plenty of other better places that offer that anonymity.
 
Aazar said:
I am pretty sure that if you are a multi-millionaire that Werribee would be one of the last places that you would live. Even if you wanted to be low-key there are plenty of other better places that offer that anonymity.
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But there are Multi Millionaires in Werribee.

Please explain?

Cheers

Mick
 
Aazar said:
it means afraid of foreigners Pauline. Didn't you go to school?
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Yep, I went to school. A bit off topic though isn’t it? :D

So, would you care to enlighten us on how you are so sure there are no Multi Millionaires in the Western Suburbs?

Cheers

Mick
 
Aazar said:
LOL. i think you got wrecked MCS. Titanic-Shipwrecked!!
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Please tell me how?

Isn’t it funny when people like you cant explain themselves, the only resort is try and go off topic or divert the attention. :rolleyes:

Please just accept it, there are millionaires in the West. Go on, its ok to be wrong sometimes. :D

Cheers

Mick
 
Deltaberry and Aazar

Here is another reason why millionaires may move West...please note the price tags of the Wyndham Marina developments...

http://charlie.runway.net.au/wyndhamharbour/survey0911/home/screen3.sok

No offence to you blokes .....but I am a bit skeptical of Johnny come latelys making comments. Some of us on SS have been there....and have been surprised by imposters.....not to be an offence....but would like to know more about your investment experiences.

For the record...I am only a small fry I count my wealth in millions....not tens of millions....so I may not be in your league yet!:D

Having said that a dollar is a dollar...last I counted only 167,000 people in this country have at another mil outside of their home.

Would love to hear your stories on success...please do tell....I am sure the masses on SS would love to learn off you guys.

Looking forward to hearing pearls of wisdom from you blokes. Please do not construe my commentary as I am against Toorak...I would love to own there but the holding costs would just kill my profits over the longer term!;)




Deltaberry said:
Not in Hoppers Crossing in any case.

And here's why Werribie might have millionaires.
http://www.starnewsgroup.com.au/story/78686
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Gentlemen (or should I say ladies or a mix..??);)

For the record Aazar has 17 posts, DeeHwa has 68 posts, and Deltaberry has 87 posts.

I am not saying that you guys are not genuine....but I would like to hear the credentials you guys have in property? Not doubting that you guys have plenty of experience ...just would like to know more.



DeeHwa said:
no, but does it matter?

What use is understanding when it is not applied?

You have to practice what you preach, which on the sole basis of that post, this has not been done.

And I assume Sash has a Toorak mansion + holiday house in Portland + boutique apartment in Carlton + flat in South Yarra + retail shop in Camberwell + unit in Box Hill + industrial factory in Dandenong??? Or have the same types of properties all over Victoria, Australia and the World?
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