Minto vs Ambarvale- IP

[jodes92]

Hi everyone,

I am currently weighing up two IPs in Minto and Ambarvale. Both cost around the same and have similar rental return. They even look the same (I think they are ex HC).

Does anyone have any opinions as to whether Minto is better than Ambarvale (or vice versa?)

Many thanks!
Jodie

 

[Propertunity]

Does anyone have any opinions as to whether Minto is better than Ambarvale (or vice versa?)

Jodie, from a pure past CG perspective, there is nothing in it. I would toss a coin.

That is only one criteria though - you need to do all your other DD on future planned infrastructure, etc etc

 

[virgo]

M or A

Hiya

I don't know about Minto but own an IP in Ambarvale.

In terms of rentability, no problem since day 1. Check out proximity to MacArther Square and Campbelltown hospital..

ATM, my 3 bedder is rented to 2 doctors for $360 per week. I bought it for 244K back in 2009...take out your map and have a look; the closer it is to these 2 places, the better IMHO...mine is near the high school...

good luck!

 

[Ridin-High]

Im same as Virgo, i got my place in Jan 09 for 250k and for lease at the moment @ 360pw (seems to be market rent for 3 bedders)

I've had issue with one tenant and had to be evicted by sherriff, bond+insurance did the rest with $100 excess.

I'd say both places are good.

 

[BV]

use proximity to schools, shops train etc as your selection criteria. Buy the one that ticks most of the boxes

 

[skater]

I've got two in Ambarvale. Had one of them for over ten years and the other for around eight.

The smaller of the two is a three bedder. This was our first IP. It is getting $360pw and I've only had one dodgy tenant in all the time I've owned it. No trouble finding tenants as it has always been in demand.

The larger one is also a three bedder, but it's got an ensuite and a pool. It is the nicer one. Had no problems here. Only had two tenants in this one. Both of them have treated it like they own it. The current one has painted it (he's a painter) and made small repairs himself. They've been there for at least five years now. I'm getting $385pw for this one, but it is a little behind market (unusual for me, I know).

I can't help with Minto, but I have been very, very happy with the Ambarvale properties.

 

[virgo]

Ambarvale PM

Hi Ridin High and Skater

Mind sharing who your PMs are?

thanks

 

[skater]

Sarah at Prudential. They have just changed their name from Starr Partners.

I don't particularly like Starr Partners, but they bought the rent roll when the Principal of my old agency retired. They took the PM too and I have been assured that she will continue to manage my properties. I did notice there were a few discrepancies at first, like added fees, but I got that nipped in the bud early and no problems now. The same good service I'm used to, which makes me happy.

 

[Ridin-High]

Lj Hooker C'town. Half/Half on service. The new bird working their seems to be doing an alright job so far

Regards,

RH

 

[virgo]

PMs

Hi Guys

thanks; fyi, my friends and i (3 in all) are very unhappy with Laing & S;

we are going to change over; and a fellow poster here has highly recommended Kay Cole from Combined Realty at Narellan; apparently lets him know when he should bump up rents! Hope this helps!

BTW, if you guys are itching to change; we might combine forces and negotiate a better rate.

cheers

 

[skater]

There is no way I'd change. I've got a great PM and a great price. I've been with her for years now. The only reason one of my IPs is below on rents is because I had a three year lease in place. It's catch up time now. I've been increasing the rent @ $25pw each six months. Only one more to go now.

Personally, I wouldn't use a Narellan agency for an IP in Ambarvale. Simply because C'Town gets more custom than Narellan.

 

[Cherry Pro]

Hi - I'm beginning to really like Prudential / Starr Partners. I've called them a few times to suss them out and they seem really cluey.

Virgo, may be time for me to give L&S the flick (their senior property manager left in less than a year). Let's negotiate a good rate and talk to Sarah, esp since Skater recommends.

Cheers

 

[skater]

Hi - I'm beginning to really like Prudential / Starr Partners. I've called them a few times to suss them out and they seem really cluey.

Virgo, may be time for me to give L&S the flick (their senior property manager left in less than a year). Let's negotiate a good rate and talk to Sarah, esp since Skater recommends.

Cheers

Mention my name, you might get a better discount.

 

[bojangles]

Minto?

Hi everyone,

I am currently weighing up two IPs in Minto and Ambarvale. Both cost around the same and have similar rental return. They even look the same (I think they are ex HC).

Does anyone have any opinions as to whether Minto is better than Ambarvale (or vice versa?)

Many thanks!
Jodie

Minto's got nothing=Zero going for it. I'd go for Ambarvale hands down. There are some nice properties out there. I'm actually thinking of selling one of my IP's in Manly West(QLD) and buying in Ambarvale. CG might not be the best... but will finance another purchase with the rent return..

 

[kaiseriqbal]

How does Minto have nothing going for it?

Its going through gentrification through the demolition of a large part of the housing commission which has led to Minto One.

Prices have gone up a fair bit in Minto as well as rentals as it is close to the train line.

It's not the best place to live, but it does have good CG propspect in my opinion.

Just can't wait to have Minto Mall sold and either renovated or rebuilt. It is a bit of a dump at the moment.

 

[Piston Broke]

After 20 years of being a local, I'd go Ambarvale/Rosemeadow/Ctown hands down.
There are some parts of Minto that I think are ok, just not many.
Minto Mall? good luck with that.
I've posted before what made rentals go up, ie bad tenants.

 

[Mom]

I'm partial to both at the right price. Both have things going for them at the moment.

 

[porp_e]

As an ex-Campbelltown local I would vote for Ambarvale. In real terms both are much of a muchness but 'Minno' definately gets the worse wrap.