Where to invest in melbourne
- Thread starter TonyY
- Start date
What do you call short term?
I don't think buying in Melb over the next year or two will be a good short term investment.
All the signs are that the market will be flat.
Unless you can buy a high-end property at a very reduced distressed sale price, and hopefully turn it over again in a year or so, I don't like yer chances.
Big entry level, big holding costs, and no guarantees. Good luck.
Or, there's this:
My SIL is currently trying to sell her sub-divided block in Frankston.
Absolutely no takers, unless you count the sleazy dude who tried to low ball her with a 5 month settlement on top, and was going to build a unit on it in 2 months (he reckons) and flog it off before it was built.
Good strategy.
Only one thing; my SIL told him to farck off.
So, that strategy works.
I don't think buying in Melb over the next year or two will be a good short term investment.
All the signs are that the market will be flat.
Unless you can buy a high-end property at a very reduced distressed sale price, and hopefully turn it over again in a year or so, I don't like yer chances.
Big entry level, big holding costs, and no guarantees. Good luck.
Or, there's this:
My SIL is currently trying to sell her sub-divided block in Frankston.
Absolutely no takers, unless you count the sleazy dude who tried to low ball her with a 5 month settlement on top, and was going to build a unit on it in 2 months (he reckons) and flog it off before it was built.
Good strategy.
Only one thing; my SIL told him to farck off.
So, that strategy works.
Short term in property should be at least 7 years or one property cycle. I don't know why you would be thinking a tear or two. And if you pick the right asset why would you ever sell?
And what strategy is that, Tony?
What is wrong with Victoria? If you did have positive cash flow property which would probably be bugger all why would you sell it? You will have to make up a lot of ground in the short term to cover all your acquisition costs, selling costs , maintainence and unexpected **** happens cost, rates, management costs and than pay capital gains tax on any profit. You have to get returns of more than 6% after expenses to at least match what you can get at the bank.
short term is 7 years?
short term is like 3 month - 1.5 years
long term is 5 years -15 years
Unless the property is highly positive geared which is harder now in this climate - holding it for 7 years makes no sense gambling on capital growth for that 7 years. Again if it is PPOR that would be different too. But 7 years. wouldn't want to be an 40-50 year old to enjoy my money
Nothings wrong with Victoria... I'm not planning on selling it either, I will never sell it unless I have other IP's.
What strategy I will use I have no idea...
And Melbournian, exactly right. Why I say short term is because I'm only still young and I want to make the most out of it now, not when I'm 30...
I lol'd. Life ends at 30 now?
Tony you need to be clear on what you want. you have me confused. You said you want a short term investment , then you said you never want to sell? You agree 3 months is short term, you plan on buying next year by your own definition that is long term. It can take longer than 3 months to 1.5 years for settlement.
end of the day comes down to your goals
lifestyle vs waiting 10 years for something to happen
Many of the investors have been successful using the long term period but with so much uncertainty in the current economic climate these strategies may not necessarily work especially with current prices and current yields and rates.
i would first start with a budget and then decide what suburbs you would like to target. From there, try to study the suburb, demographics, sales etc. Otherwise it is like many so called investors.. many dreams with many excuses and with no directions.
lifestyle vs waiting 10 years for something to happen
Many of the investors have been successful using the long term period but with so much uncertainty in the current economic climate these strategies may not necessarily work especially with current prices and current yields and rates.
i would first start with a budget and then decide what suburbs you would like to target. From there, try to study the suburb, demographics, sales etc. Otherwise it is like many so called investors.. many dreams with many excuses and with no directions.
I strongly agree with you thus how do long term investments do any better? I just dont get why people will need to wait 10 years for a return. When you could instead see cash flowing every 3-1.5y. I understand short term might be a higher risk and a less smarter option... But if cards are played right should be a good outcome on the short term run
i am not sure how you would generate cash flow 3 months - 1.5 years. it is only through manufactured growth (like the block etc) you could achieve that and there are taxation and various other considerations you would have really have a good thought about.
Long term investments do work as historically infrastructure growth, economic factors as well as population growth has helped to keep this trend going.
it comes down to what kind of strategy you are using and what are you financial and lifestyle goals you wish to achieve.
Long term investments do work as historically infrastructure growth, economic factors as well as population growth has helped to keep this trend going.
it comes down to what kind of strategy you are using and what are you financial and lifestyle goals you wish to achieve.
If you expect money to be made that quickly, by all means use CFDs or margin loans and the sharemarket to achieve it. For property it's a lot different I'm afraid...
