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From: Anonymous


Hi All,

Does anyone know if Traralgon Vic. is a good place to invest in? What Capital Growth has it risen since the market boomed this year and people are going crazy buying properties?
I am thinking of investing here as most of the yields are from 10-13%.

YOur thoughts are greatly appreciated.

cheers

ANON
 
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Reply: 1
From: Anonymous


The ONLY reason the Traralgon market is booming is because of all the Burley clones driving the market.

Tread very carefully !!
Watch out when the music stops.

Regards
Jake
 
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Reply: 1.1
From: J U


As an ex Traralgonite, I am amazed at the high returns despite the high unemployment and lack of infrastructure! Interesting to note you can purchase a property for $35k, 12 miles away in Morwell / Moe!
I will investigate further when we return for xmas to see family if you're interested.
Regards
John
PS Burley who????
 
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Reply: 1.1.1
From: Jakk Bass - The SLUM LORD


Hi all,

"Traralgon oh sweet Traralgon"

In July last year I purchased a block of 6 x 1 BR flats in Traralgon for $145,000.
The annual return at that time was around $20,000.
Since then I have had all flats repainted over the period and replaced carpets and added louvre curtains at a total cost of $9,500 (did the painting myself).

Annual return as of today $28,000.

The agent that manages the property has asked if I want to sell now and reckons that $210,000 - $220,000 is not out of the question.
Told him if he can get $230,000 net I would shed a tear or two, but I would sign the dotted line.
It's true that capital gain doesn't just happen in Traralgon, so go out there and MAKE IT HAPPEN!

The only drawback was that I had to tip in $45,000 as a deposit as this was the only way to get financing. (maybe I should have spoken to Rolf first?)

regards
Jakk
 
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