Hello Everybody
I am a newcomer here keen to purchase my second investment property and would like to know what you guys think of Melbourne suburbs like Dandenong, Carrum Downs, Hampton Park and Doveton.
Idea is to buy a run down property, cosmetically renovate(then refinance and take equity out) and rent. Thereafter reinvest the equity taken out.
I would like to keep budget to 400k in total with reno costs included.
If you don't favour these areas any other suggestions within this budget you could recommend
Thanks in advance
PS
Dandenong may not fall within my budget, but still would like your thoughts
I am a newcomer here keen to purchase my second investment property and would like to know what you guys think of Melbourne suburbs like Dandenong, Carrum Downs, Hampton Park and Doveton.
Idea is to buy a run down property, cosmetically renovate(then refinance and take equity out) and rent. Thereafter reinvest the equity taken out.
I would like to keep budget to 400k in total with reno costs included.
If you don't favour these areas any other suggestions within this budget you could recommend
Thanks in advance
PS
Dandenong may not fall within my budget, but still would like your thoughts