Hi,
in searching, with a limited budget and limited knowledge, for our first IP in Melbourne's inner-west, I keep finding interesting properties in the ''bad'' part of Footscray (and I'm old enough to remember when that was the whole suburb). I'm talking about the area behind the old Kinnears rope factory, between there, Footscray City College and Gordon St - Empire and Eldridge streets, mainly.
Now, my theory is that it's cheap and a bit ugly, but well serviced - tram into Footscray and shops at Knifepoint, lots of buses, shops etc, Vic Uni round the corner.
I accept that capital gains might be a bit slow. But, honestly, in this market, $260,000 for a 2bedder flat in Footscray (some of 'em getting nearly $300 a week in rent) ... it can't be all bad, can it? Can it?
in searching, with a limited budget and limited knowledge, for our first IP in Melbourne's inner-west, I keep finding interesting properties in the ''bad'' part of Footscray (and I'm old enough to remember when that was the whole suburb). I'm talking about the area behind the old Kinnears rope factory, between there, Footscray City College and Gordon St - Empire and Eldridge streets, mainly.
Now, my theory is that it's cheap and a bit ugly, but well serviced - tram into Footscray and shops at Knifepoint, lots of buses, shops etc, Vic Uni round the corner.
I accept that capital gains might be a bit slow. But, honestly, in this market, $260,000 for a 2bedder flat in Footscray (some of 'em getting nearly $300 a week in rent) ... it can't be all bad, can it? Can it?