Opinion on IP in Bacchus Marsh
- Thread starter Ajaxab
- Start date
I used to have to go out to Bacchus Marsh and Werribbee etc for tournaments as a trainee golf pro back in the early '80's.
In those days it was pretty much the middle of nowhere.
Nowadays you have the freeway and so on. Not a bad place/area.
Get a head of the herd and do it.
I think the area is going ahead; it's within commute of Melb, and Geelong possibly.
In those days it was pretty much the middle of nowhere.
Nowadays you have the freeway and so on. Not a bad place/area.
Get a head of the herd and do it.
I think the area is going ahead; it's within commute of Melb, and Geelong possibly.
Would this be within your budget?
http://www.domain.com.au/Property/For-Sale/House/VIC/Bacchus-Marsh/?adid=2010623539
http://www.domain.com.au/Property/For-Sale/House/VIC/Bacchus-Marsh/?adid=2010623539
I would say absolutely not
How cheap are we talking - under 250k?
Seriously what would make it a good investment
Low buy in price - not really compared to some areas way closer to Melbourne
Land scarcity - NO! Look what happened to Melton, point cook even
Population growth - yes.... But with no land scarcity it will mean no cap gains
Seriously all I see happening is a massive influx of cheap house and land packages and everything that Bacchus marsh did have going for it will be ruined
My exception would be a really good train system to bring the commute right down but that is fairly speculative. If you want to speculate on that then buy an existing house in walking proximity to train station. Do not buy a house and land in silk river estate miles out of town.
How cheap are we talking - under 250k?
Seriously what would make it a good investment
Low buy in price - not really compared to some areas way closer to Melbourne
Land scarcity - NO! Look what happened to Melton, point cook even
Population growth - yes.... But with no land scarcity it will mean no cap gains
Seriously all I see happening is a massive influx of cheap house and land packages and everything that Bacchus marsh did have going for it will be ruined
My exception would be a really good train system to bring the commute right down but that is fairly speculative. If you want to speculate on that then buy an existing house in walking proximity to train station. Do not buy a house and land in silk river estate miles out of town.
Bacchus Marsh's town centre is quite charming and I could see it becoming a trendy town/suburb at some point and central properties increasing in value, especially period homes. This could take a very long time, if ever. Central homes aren't bargain basement cheap as it is so I wouldn't be buying one as a speculative purchase.
So far as the outskirts go... land, land, land. Too much land.
Lovely town, just not a great investment.
So far as the outskirts go... land, land, land. Too much land.
Lovely town, just not a great investment.
I'd jump on this one ASAP. Land value alone is about 30mil... true story
Hmm... Well a lot of the people here are good advisors and they won't take 20k commission and sell you a lemon.
There are not that many actual property advisors out there. Mostly just sales people or buyers advocates who specialise in certain postcodes
You really have to work out how many properties you intend to purchase, what values, what average yield you can afford to hold.
A lot here would advise cash flow positive property. Which is ok but it's not the best if you only ever intend to buy one or two investment properties.
You have to sit down and do some numbers and work out what you can afford, try to maximise your amount invested
Bacchus depends on stratagy
If you looking for a market with good rental return and good tenancy rates Bacchus is a fair option. Lots of new homes being built which is creating high tenancy demand as people want to move into the area as there homes are being built. This is pushing the prices up on long term tenants. Pockets in Darley are increasing at a high percentage but from a low base so misleading. Most areas are steady with a 7-8% Cap Growth. New business and industry are increasing In the area with Bunnings and chain retail stores now starting to apply for permits on the Gisborne side. If you have a spare 500k childcare centre would be a licence to print money.
. New subdivision for another 2000 homes at the old Underbank stud have just been approved and sales are strong at Stonehill Estate on the Geelong side. I have just invested 500k in a new roof truss and wallframe manufacturing plant on the edge of Bacchus. Ballan the next town out is actually increasing at a larger percentage per year but again form lower base. I will be purchasing a couple of IP's in the near future with a 10 - 15 year view.
If you looking for a market with good rental return and good tenancy rates Bacchus is a fair option. Lots of new homes being built which is creating high tenancy demand as people want to move into the area as there homes are being built. This is pushing the prices up on long term tenants. Pockets in Darley are increasing at a high percentage but from a low base so misleading. Most areas are steady with a 7-8% Cap Growth. New business and industry are increasing In the area with Bunnings and chain retail stores now starting to apply for permits on the Gisborne side. If you have a spare 500k childcare centre would be a licence to print money.
. New subdivision for another 2000 homes at the old Underbank stud have just been approved and sales are strong at Stonehill Estate on the Geelong side. I have just invested 500k in a new roof truss and wallframe manufacturing plant on the edge of Bacchus. Ballan the next town out is actually increasing at a larger percentage per year but again form lower base. I will be purchasing a couple of IP's in the near future with a 10 - 15 year view.
Unfortuantely the lion park closed about 30 years ago. Someone got eaten (I'm not kidding).
Scott from Snap Mortgages (previous post) is a local to Bacchus Marsh. He knows the area extremely well and you'll probably do better talking to him than any buyers agents I can think of. (I know my BA friend Lisa had a property in the area but Scott is on the ground there 24/7 - sorry Lisa).
As a bonus, Scott also has 20+ years in the building industry. You won't find anyone better to talk to about house structure and construction.
Scott from Snap Mortgages (previous post) is a local to Bacchus Marsh. He knows the area extremely well and you'll probably do better talking to him than any buyers agents I can think of. (I know my BA friend Lisa had a property in the area but Scott is on the ground there 24/7 - sorry Lisa).
As a bonus, Scott also has 20+ years in the building industry. You won't find anyone better to talk to about house structure and construction.
Thanks Peter
Still have not learnt to spell tho :-?
Still have not learnt to spell tho :-?
Sorry Snot, still cant spewl. Grwama is willy willy badd to.
Good ol Bacchus Marsh, it will always have a special place in my heart.
When I was about 16 my brother took me and 2 mates to lerdederg gorge in summer to do so cliff jumping. My mate had strict parents so failed to tell them he was going.
So we trodded up to the 3rd hole which has a 10m cliff and it was windy as heck so we all were scared. My mate eventually mans up and jumps in and as soon as he rises yells out "I've popped my shoulder out"(previous footy injury).
Well seeing as to get to hole 3 requires a tiny path and about a 2km track no ambulance could get through so they needed to airlift him out.
I had the pleasure of calling his parents to say your son is not actually at my house playing Nintendo, he is about to go in a helicopter.
No health protection and 3k later (16 years ago). I've never been back to Bacchus marsh.
The storey even made the local paper front news. Turns out he was not the first to injure himself, others decided to hit rocks instead!
When I was about 16 my brother took me and 2 mates to lerdederg gorge in summer to do so cliff jumping. My mate had strict parents so failed to tell them he was going.
So we trodded up to the 3rd hole which has a 10m cliff and it was windy as heck so we all were scared. My mate eventually mans up and jumps in and as soon as he rises yells out "I've popped my shoulder out"(previous footy injury).
Well seeing as to get to hole 3 requires a tiny path and about a 2km track no ambulance could get through so they needed to airlift him out.
I had the pleasure of calling his parents to say your son is not actually at my house playing Nintendo, he is about to go in a helicopter.
No health protection and 3k later (16 years ago). I've never been back to Bacchus marsh.
The storey even made the local paper front news. Turns out he was not the first to injure himself, others decided to hit rocks instead!
