Where to buy in Melbourne within 20km of CBD
- Thread starter GaryK
- Start date
Hi
H,
With that sort of budget why not appoint a buyers agent to assist?
I would look at quality over quanity when looking at buying a property.
Also is there a reason why you only want to look at apartments?
H,
With that sort of budget why not appoint a buyers agent to assist?
I would look at quality over quanity when looking at buying a property.
Also is there a reason why you only want to look at apartments?
Well i like the northern suburbs so i am going to say a house in Preston
I looked into Preston.. so many new developments there!! It might be saturated + I nwas reading this the other day http://www.heraldsun.com.au/leader/...118455225?nk=57c3281a6231e7cf88affdaecfe37ff4
I have never dealt with buyers agent's.. Whats their pros and cons
How do they add value
and what can they do that the average person on the search for a IP can't ?
Thanks,
Cheers Y-man
I like this one
http://www.realestate.com.au/property-house-vic-thomastown-118324639
How is Thomastown as a subrub for an IP? Growth pot ? Rental yield ? Population? etc.
Pros
They do the searching for you and since it's there 9-5 they SHOULD be able to find you good deals that match your criteria.
They SHOULD have intricate knowledge of a number of suburbs unlike most investors who may only know the areas they live in and around.
They SHOULD be able to negotiate on deals for you and unless your good at negotiating, do a better job.
Cons
You need to pay for this service
So it then comes down to weighing up whether or not paying the fee which I believe is around 2% gets you a ROI in both time and money. For example it will cost you 12k for a 600k purchase. So if they find you something like this and it's real value is say 650k then I would say money well spent.
But if you want to buy in an area you know well personally I could never justify the cost versus some of your own hard work and research.
If you can find a good buyer agents the pros should outweigh the cons.
If a con is paying for professional advice then its not so bad at all..
Are you looking at a buy and hold strategy?
If a con is paying for professional advice then its not so bad at all..
Are you looking at a buy and hold strategy?
Buy with the option to sell in 5-7 years time
I have an IP in Thomastown, and prices have been flat for the last 4 years. Last peak was in 2010. However the area has pretty low vacancy and has good infrastructure. I think it's a good long term investment.
There is a bit of supply at the moment affecting yield so got to pick your investment wisely. However there are also many pros to Preston as mentioned in other Preston thread.
Crime rate I don't personally know for sure. I dont live there but shop at Preston all the time and it's normally very busy.
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Growth - bought last December, so will let you know in 4 year's time
Yield - paid $280k, getting 300 per week.
The Y-man
Looks like maybe Mitcham or Heatherdale depending on where in Vermont you are located. When I was in Melbs my local station was Heatherdale.Which station???
The Y-man
I can't see any mosques listed for Vermont (or in its vicinity) either....
Are you sure you've got the right suburb?
The Y-man
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