Melbourne suburb, below $350K, good cap growth and rental

[MTR]

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!

Hi Sash

Too busy to waste my time on s$it like this, it is meaningless.

I am getting to the stage now that I am spending about 5-6 hours a day chasing the deals and have met up with a guy from Melb who has been successful with property options in USA and Australia its all new and exciting.

Also, will pm u the location of that QLD property once it has settled, I am having problems with vendor at moment. Plenty of potential in this area and properties which may suit your strategy.

Cheers, MTR

 

[DeeHwa]

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.

Agree with Aazar totally. Giddyup, you sound like the type of person that advocates having a little $20k deposit and then buying the best thing with it at the lowest entry point. You obviously have no understanding of savings, patience or alternative strategies like partnerships (like Aazar has identified), or if that is too risky, a trust company or even buying with family. With 3 people’s budget of $350k, you can buy a $1mil+ house and that would get you into a good location where CG would be strong like Kew and Hawthorn for example.
You’d expect a $1mil+ house to have better than $60K CG (which is what we are trying to beat), and even more with any renovations or improvements, not to mention the obvious better rental income generated from it. In saying this, you definitely have not given much thought to what you are posting.

 

[rabbaj]

Azaar, Deewha

Your single point agenda is to be contrarian - even at the expense of looking like total fools.

Really mate - read up on the success of some of the most successful investors here with dozens of properties in such suburbs being cash flow neutral to a large degree (due to high yield in such suburbs) and what they have subsequently done with that equity.

I suspect that you both are either the same or know each other. Blind leading the blind - Idiot backslapping another idiot.

I am at real awe at how you both seem to miss the point about investment, cash flow, annualised growth in % terms and using equity to diversify the portfolio. You dont seem to have achieved much in your investment careers.

If you did you wouldnt rant on like that ridiculing others..

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.

 

[super_sam]

With 3 people’s budget of $350k, you can buy a $1mil+ house and that would get you into a good location where CG would be strong like Kew and Hawthorn for example.

Actually unless each of the three people has a high enough taxable income to service the entire debt on their own you may have problems with this

 

[DeeHwa]

Actually unless each of the three people has a high enough taxable income to service the entire debt on their own you may have problems with this

er...partnerships was just one strategy. Obviously may not work for certain scenarios. There are other strategies such as setting up a company trust, have family guarantees, houses put up as security, refinancing, exotic options etc...

 

[Giddyup]

Agree with Aazar totally. Giddyup, you sound like the type of person that advocates having a little $20k deposit and then buying the best thing with it at the lowest entry point. You obviously have no understanding of savings, patience or alternative strategies like partnerships (like Aazar has identified),

Easily said by someone who had help from their parents to get their deposit together. Why didnt you get some friends together and buy a 1 mil+ property instead of 600k??

You really have missed the point... read the first post, its says 350k, not I want a million dollar property for me and my friends to buy. 10% of 350k = 35k. 10% of 1mil divided by 3, 33.3k. Meh. Whatever works for you.

Only thing I advocate is due diligence, not due arrogance. Its all about right property, right time, right price.

The only reason why I posted anything at all was because I was getting a bit tired of aazars rude comments every time someone started a thread on something other than buying in the inner east. I probably shouldnt have bothered because some people seem to have their head firmly planted in the sand, or elsewhere.