Is it time for Frankston?

[roypropertyinv]

Hi Roy where abouts are you in Sydney? I'm in Mascot myself.

Lane Cove. Are you heading to the meetup in Sydney in January?

 

[Tranquilo]

Lane Cove. Are you heading to the meetup in Sydney in January?

I am thinking about it. Not that I can any input (newbie) it would be more just show my face and says thanks to everyone that gives their time for free giving advice. Yourself?
I do have starting from the 19th of Jan a week off which I was planning to go to Frankston but I don't think my finances will be ready by then so I may have to put it off maybe another few weeks or so. Anyway I'll wait until the time is closer and see.

 

[Lord Shanghai]

I noticed there's a lot of odd shaped blocks and houses on angles in Karigal and Frankston Nth area. It would make it hard to keep the existing house and subdivide. Do you thinks there's a market to buy a large block that the house needs to knocked down and sell the subdivision and plans for a couple of units/townhouses.

About odd-shaped blocks. North Frankston is still very much a buyers market. If you are patient, you need not necessarily pay more for a regular shaped block.

The part of Frankston near the Karingal shopping centre is also good value for those who have a buy and hold strategy. Still plenty of value to be found if you look hard.

 

[Lord Shanghai]

OK. This one is a beauty. A house on a dual occ site. Recently sold at auction for $190,000 . Can't beat that! It's the cheapest sale in several years

http://house.ksou.cn/p.php?q=Frankston+North&sta=vic&id=513532

 

[Tranquilo]

The part of Frankston near the Karingal shopping centre is also good value for those who have a buy and hold strategy. Still plenty of value to be found if you look hard.

Yep I agree for my level of experience I'm a buy and hold and I would be looking here and central Frankston.

 

[neeko]

someone has got themselves a good deal indeed! excellent location, should make a killing!
http://www.realestateworld.com.au/property-house-frankston-vic-1959665/display.aspx

should sell the new townhouses once built for around 400k each I'd like to think.

 

[Lord Shanghai]

Another steal at just $290,000.

http://house.ksou.cn/p.php?q=Frankston&sta=vic&id=527790

This one is not on a dual occ site. Nevertheless, its a pretty good deal for a solid house. With a rent review, it should yield 5-6 percent, making it cash flow positive.

 

[SK Investments]

Not sure about the price, but checkout the inclusions!

Good effort on the sales spiel.

http://www.realestate.com.au/property-house-vic-frankston-118720123

 

[TMNT]

Not sure about the price, but checkout the inclusions!

Good effort on the sales spiel.

http://www.realestate.com.au/property-house-vic-frankston-118720123

obviously they included the ENTER button from their keyboard as well !

 

[TMNT]

Another steal at just $290,000.

http://house.ksou.cn/p.php?q=Frankston&sta=vic&id=527790

This one is not on a dual occ site. Nevertheless, its a pretty good deal for a solid house. With a rent review, it should yield 5-6 percent, making it cash flow positive.

5-6% yield is not cashflow positive by a mile

 

[SK Investments]

5-6% yield is not cashflow positive by a mile

Maybe he pays cash

 

[SK Investments]

Development site

Don't all fight for it at once now

http://www.realestate.com.au/property-house-vic-frankston-118717843

 

[Tranquilo]

SK what do you think that one will sell for? Do you think it will go before Auction?

 

[SK Investments]

SK what do you think that one will sell for? Do you think it will go before Auction?

I'm only a recent follower of Frankston, but i think it will sell before Auction given the amount of activity there at the moment.

 

[Lord Shanghai]

i think it will sell before Auction given the amount of activity there at the moment.

Only time will tell.

Frankston is traditionally not a place where stuff goes to auction. Still plenty of value to be had for those who spend an hour a week looking.

 

[strongy1986]

I'm only a recent follower of Frankston, but i think it will sell before Auction given the amount of activity there at the moment.

I don't
It's not really a good spot

 

[SK Investments]

I don't
It's not really a good spot

Interested in your opinion on $$$ for it

 

[Lord Shanghai]

Interested in your opinion on $$$ for it

Unlike many others in the area, the elderly sales agent concerned with this particular sale is a straight talker. Give him a buzz and he will mostly likely tell it like it is. I reckon you could pull it off for around $400,000 if you are persuasive enough ie. pay cash within 30 days.

Make sure you let us know how you go! Good luck.

 

[SK Investments]

Unlike many others in the area, the elderly sales agent concerned with this particular sale is a straight talker. Give him a buzz and he will mostly likely tell it like it is. I reckon you could pull it off for around $400,000 if you are persuasive enough ie. pay cash within 30 days.

Make sure you let us know how you go! Good luck.

I can't make a move on this unfortunately, I'm still in the little league of development in the renovators world!

Do you have any Frankston properties?
Cheers

 

[tristanvs]

Development Site

What do you guys think of this property?...

http://frankston.harcourts.com.au/Property/568808/VFK9226/22-Sheridan-Aveune

It sold in July 2014 and now its up for sale again, so I am a little suss.