here is the article,
http://www.propertyobserver.com.au/...2-property-hotspots-terry-ryder/2012011153008
'He describes Melton as the most affordable region of the city housing market with good transport connections to central Melbourne and which will be boosted by urban renewal development'
im just trying to get my head around his reasons, surely every house and land package is a renewal development?
You gotta stop taking it so personally, sure you made 60% on your IP, well done. you may have bought it at a fantastic price, you may have just been lucky, you may have bought the right one in the area,
the fact is that vacancy rates in the area are ridiculously high, and that represents the norm or average even if proportionate sample sizes are taken. Kael is struggling with his IP (sorry to hear) you on the other hand are not, however on average Kael's stiuation may represent the norm in this area, I wouldnt live in any of the suburbs that my IP is in or that I research, but im not trying to build a portfolio on whether I want to live in it or whether it looks good on paper for **** factor!
http://www.propertyobserver.com.au/...2-property-hotspots-terry-ryder/2012011153008
'He describes Melton as the most affordable region of the city housing market with good transport connections to central Melbourne and which will be boosted by urban renewal development'
im just trying to get my head around his reasons, surely every house and land package is a renewal development?
Oh I don't know, .... I had two IP's in Melton (Central). I sold one last year ..... quite happy with the return of approx 60% after selling costs.
I'm holding onto the other one as it has sub-division potential. I know of another couple of SS investors that are also very happy with there Melton IP's. I admit the area is not everyone's idea of a great place to live, but I'm also not sure I'd describe it as worst suburb either.
Anyway, .. each to their own.
Mystery
You gotta stop taking it so personally, sure you made 60% on your IP, well done. you may have bought it at a fantastic price, you may have just been lucky, you may have bought the right one in the area,
the fact is that vacancy rates in the area are ridiculously high, and that represents the norm or average even if proportionate sample sizes are taken. Kael is struggling with his IP (sorry to hear) you on the other hand are not, however on average Kael's stiuation may represent the norm in this area, I wouldnt live in any of the suburbs that my IP is in or that I research, but im not trying to build a portfolio on whether I want to live in it or whether it looks good on paper for **** factor!
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