property number 2 - budget 240k in Vic


I am looking at purchasing my 2nd Investment property.

My budget is 240k.

I think i am priced out of pretty much most of Melbourne, with the exception of wyndham vale, werribee, melton, and possibly some run down 1 bedroom units.

What has the activity been like in places like Geelong, Ballarat, Bendigo?

These appear to regional cities, i would like to know if the prospects for theres areas are good, considering the fact you can buy a jam tin in melbounre for less than 500k these days!
For my money I'd be buying an older unit in need of a reno in Footscray.

Other than that Geelong is near the water and an easy car commute to Melbourne + also has Avalon airport nearby.
Hi Keneth

Have you considered Melton and Frankston ? There are huge threads on both those places with lots of SSers buying there. A search here will throw up heaps of relevant information.

Good luck !
i have been to melton, and frankston...

and both places dont really appeal to me because there has been so much investor focus, particulary on frankston..

Melton well... single mum capital of Australia isn't it...

I am sure people dont move there by choice!

but you get what you pay for i guess.

Have considered melton.. leaning towards geelong i think...

I would like to buy another unit around newport, or williamstown, but there just isnt much going at the moment...