How does Toorak fit into the above profile???
Melbourne suburb, below $350K, good cap growth and rental
- Thread starter thyechen
- Start date
How does Toorak fit into the above profile???
http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=18994293&s=vic&tm=1264428491
As one of several examples of 1 bedder apartments well under the $350K price range.
We don't always have to be talking about houses. Apartments and the like can still produce excellent capital growth (and have proven so), allows for further improvement and will enjoy good rental given it is Toorak!
S'OK, I think the sainted media was reporting it as West Footscray. I know that was wrong because I'm lucky enough (!) to live just around the corner from where the murder happened. We were away, but apparently every house in our street - and several others - got doorknocked by the constabulary later in the week.
... but sorry to head off-topic.
Hi thyechen
I like Glenroy but I think you may need around $400K for this area.
I purchased in Broadmeadows over the last 12 months and achieved great CG around 34%, and reasonable rental returns, all development sites. Now gives me many options, add value by putting together plans and permits to onsell, develop or just hold.
350K wont get you a 3 unit site in Broadmeadows but I think you may find a suitable 2 unit site renting around $300-320 pw.
This area may be on the nose to locals but I see it as gold.
Cheers, MTR
Try to find well located properties, close to rail if possible.
This is also an area where you can find houses with bungalows at the back, these can be cashcows but every investor will be jumping on these.
Also, you will need to check for any easements on the property.
RE agent has access to this information. When you get section 32 all this information is disclosed. I also found the Hume Council easy to deal with.
Cheers, MTR
This is also an area where you can find houses with bungalows at the back, these can be cashcows but every investor will be jumping on these.
Also, you will need to check for any easements on the property.
RE agent has access to this information. When you get section 32 all this information is disclosed. I also found the Hume Council easy to deal with.
Cheers, MTR
Aazar, you are quite adept at p***ing posters off with direct and condescending comments most of the time. Chill mate -
How sad are you.... only fools make comments like this.
Give yourself a break and enjoy what is free the opportunity to learn.
Cheers, MTR
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I have been reading these forums for a while now, and according to Aazar, the only properties worth buying in Melbourne are inner east blue chip properties.
To quote aazar: "just do your due diligence and you'll be fine."
Aazar, are you trying to talk down 3/4 of Melbourne suburbs so you can get into those markets?
Lol I don't need to talk them down. I already know that they are not good places for investment and I don't think I'll ever buy a property in those markets. Their values already speak for themselves
No offence Giddyup, but what is your point?
Are you trying to say that Aazar can't afford buying in Broadmeadows but he can afford inner east blue-chip properties?
MTR....perhaps you might want to let teedle dum (Aazar) and tweedle doo (Dee Hwa) who I suspect are the same people...about your development sites in Broady and the profit you have made!
I agree how sad.....but also annoying when they have no empirical evidence and have not purchased any property to their credit!
I agree how sad.....but also annoying when they have no empirical evidence and have not purchased any property to their credit!
I was waiting for you to chip in. I dont believe I said anything about affordability? Its about due diligence regardless of where the property is.
Automatically telling people that their idea on a property is wrong, as aazar has repeatedly done, just because they arent buying inner east blue chip is rubbish and not really helping anyone out. If you are biased against anything else but Toorak, then good for you, you dont need to tell people they are fools just because they dont want to/cant afford to purchase $600k+ properties.
And the results do speak for themselves... plenty of people have made good CG and rental returns on properties that are not inner east blue chip.
MTR....perhaps you might want to let teedle dum (Aazar) and tweedle doo (Dee Hwa) who I suspect are the same people...about your development sites in Broady and the profit you have made!
I agree how sad.....but also annoying when they have no empirical evidence and have not purchased any property to their credit!
Sash, I think your 42 year old brain of yours is affected with amnesia. You obvious don't remember I have a house in Brunswick and no, I am not Aazar.
Hah! Go ahead and brag about your 20k profit that you've made on Broadmeadows. It's not like it is really significant. I could have earned more working at a cashier job in McDonald's with less effort and risk.
If you want to buy in those Western suburbs then go ahead. But just because something costs less than others doesn't mean it's 'cheap' or better value. That's just nonsense.
'Oh my friend bought in Broadmeadows and made 10% CG omg it's such a good area'
I can say that I put $1000 on black in Roulette and I won $1000 'OMG Roulette is such a good way to make money 100% return on equity!!!!!' Give me a break
If you want to buy in those Western suburbs then go ahead. But just because something costs less than others doesn't mean it's 'cheap' or better value. That's just nonsense.
'Oh my friend bought in Broadmeadows and made 10% CG omg it's such a good area'
I can say that I put $1000 on black in Roulette and I won $1000 'OMG Roulette is such a good way to make money 100% return on equity!!!!!' Give me a break
20k profit is better than looking at places you cant afford in Toorak and doing nothing. Of course the higher the value of the property you buy the more cash you will get out of a 10% CG, but people do have to start somewhere. Going by the title of the thread the starting point here is 350k. Now, if you offered suggestions of areas that you would be better off spending 350k on a property, that would be useful input, calling people fools is not.
That 20k, if you break it down to per hour basis, would be much easier to earn than working at McDonalds... and that 20k would be on top of your day job earnings.
These ridiculous statements are the ones that make you stand out as rude and arrogant, not a wise property investor.
If your budget is 350k and you're limited to looking at Broadmeadows/Point Cook I think you're wasting your time. Go save some money, borrow jointly with a partner and buy in a better suburb elsewhere. It's not rocket science.
Giddyup, you are calling me 'rude and arrogant' because I don't share your views on the 'glorious' Western Suburbs of Melbourne. People like you only like those places because they have lower entry points than other, better suburbs. That is definitely not a 'wise' decision that I would tell those on this forum who are looking for some advice.
Giddyup, you are calling me 'rude and arrogant' because I don't share your views on the 'glorious' Western Suburbs of Melbourne. People like you only like those places because they have lower entry points than other, better suburbs. That is definitely not a 'wise' decision that I would tell those on this forum who are looking for some advice.