So, have you bought additional investment properties this year?

[virgo]

What have you done?

Hiya

Bought 1 dual occ in SYdney in August this year;yielding gross 9.2%....doing a small development at the moment which will gross yield 19% and a deal has now fallen into my lap which will yield 11%...

The only thing stopping me is my mindset and fear of the world economy in 2012....

Any pill for that?

 

[locko24]

Any pill for that?

No, but a teaspoon of cement should do the trick...

 

[Deltaberry]

Not yet saving ammo trying to catch the hk crash which seems to be gaining momentum as China real estate falters as it is now

 

[pennyk]

we bought a new PPOR.......... next year, we should be in a position to buy 1-2 IP's... hopefully all the first home buyers will be out of the market once stamp duty benefits have finished

 

[lmo]

i have bought an investment property off the plan about 2 months ago. already very happy with potential returns. i am looking into a few more off the plan properties, specifically around the Frankston area as i think this will grow quite rapidly, especially with the approval of the new high rise to be built in the CAD.

Have any of you bought properties in Frankston. wondering if on the right track with this area. Let me know thoughts.

 

[toony]

i am looking into a few more off the plan properties, specifically around the Frankston area as i think this will grow quite rapidly, especially with the approval of the new high rise to be built in the CAD.

Have any of you bought properties in Frankston. wondering if on the right track with this area. Let me know thoughts.

There are already a few threads on Frankston. I am starting to become a little frustrated by the lack of progress on the harbour. The east link extension will help the area a bit. But more needs to be done in the CAD. What is drawing people to frankston? I live in aspendale and nothing draws me to Frankston.

 

[lmo]

i think once the development of the east link extension is completed it will have a positive impact on the area. i am also hoping that the new olympic sized swimming pool and proposed marina comes into play. my fingers will also be crossed for them to come sooner rather then later. Now that they have approval of the apartment building i think it will strike a bit of interest in the area. This is the first high rise development in the Mornington Peninsula, i am debating purchasing one at the moment, take a look at www.airio.com.au. i think once these have been built it will open the gate way for more development and the area will progress at a quicker rate then what previously has been due to development stigma in the area.

 

[Jody in Darwin]

Hmm, I reckon the poll needs another option: would have bought but didn't have enough money or serviceability

Yep - that would be me!

 

[toony]

i am looking into a few more off the plan properties, specifically around the Frankston area as i think this will grow quite rapidly, especially with the approval of the new high rise to be built in the CAD.

Have any of you bought properties in Frankston. wondering if on the right track with this area. Let me know thoughts.

There are already a few threads on Frankston. I am starting to become a little frustrated by the lack of progress on the harbour. The east link extension will help the area a bit. But more needs to be done in the CAD. What is drawing people to frankston? I live in aspendale and nothing draws me to Frankston.

 

[Aaron_C]

What is drawing people to frankston? I live in aspendale and nothing draws me to Frankston.

That's because you live in Aspendale

 

[toony]

This is the first high rise development in the Mornington Peninsula, i am debating purchasing one at the moment, take a look at www.airio.com.au. i think once these have been built it will open the gate way for more development and the area will progress at a quicker rate then what previously has been due to development stigma in the area.

Good luck marketing these. Cant see why any locals would buy one.

 

[Melbournian]

coz they want to be closer to the beach.

but yeah having the 1st apartment tower is a bit of a gamble

either ppl like it or either ppl dun.

 

[Aaron_C]

Being the first developer in the area for that kind of project is a big gamble - he will either make lots of money (because he bought land without such a huge development premium) or lose the lot. We shall see.

 

[Player]

i think once the development of the east link extension is completed it will have a positive impact on the area.

The Frankston bypass linking the freeway and eastlink will have (some)benefit for Frankston traffic. How this translates into a fiscal amount is difficult to quantify on property values.

IMHO, the biggest benefit will be further down, viz: Mornington, Mount Martha, Dromana and so on. Missing out on the series of traffic lights and the umpteen roundabouts one has to negotiaate to get onto the Rosebud section of the freeway will be a big benefit.

i am also hoping that the new olympic sized swimming pool and proposed marina comes into play. my fingers will also be crossed for them to come sooner rather then later. Now that they have approval of the apartment building i think it will strike a bit of interest in the area. This is the first high rise development in the Mornington Peninsula, i am debating purchasing one at the moment, take a look at www.airio.com.au. i think once these have been built it will open the gate way for more development and the area will progress at a quicker rate then what previously has been due to development stigma in the area.

Hasten slowly. As others have mentioned this may be a litmus test (pilot study) for how apartment living is embraced beach-side. It may flop or be a stupendous success. It will be the canary in the mine.

Be mindful that the proposed development is very close to the night club precinct of beahside Frankston. What the marketing website so conveniently omits (especially in the pics of fine dining and so forth) is the fact that occupiers (owners/tenants) who wish to exercise beach-side early morning will still have drunken/drugged patrons coming out of the clubs and bars. It's not a place I would like to be visiting at dawn.

Furthermore being so close to the "club precinct" is likely to have issues with noise and potential crime. I like Frankston, however if I were going to spend decent money I would be in Frankston South (Oliver's Hill area) where noise impact is trivial and views are fantastic if the right property is secured. Medium density would be the way to go on the hill.

Frankston still has a way to go as far as affordability ceilings go. It is improving, however OTP purchases in the firsttranche is a risk I wouldn't rush into.......merely my 0.02

 

[lmo]

I am hoping this will take off, but as you all said it is a gamble. i hope the area doesn't turn into the high rise precinct like the Gold Coast, but i also feel that it definitely needs some growth, and i think growth will help remove the "riff raff" of the area.

i guess we will have to wait to see. i have made an enquiry to see what is on offer/available. i'll keep you guys updated!