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Luciano D. | TrueAgent.com.au
http://www.TrueAgent.com.au
Email MeAustralia's Best Real Estate Agents Under One Roof
I agree with JacM. I was living in Melbourne (Bayside) when I purchase my first property in Ballarat. I traveled every weekend for about 2 months until I ‘grasp’ a basic understanding of the area I wanted to purchase. That research and actual time spent in the local area paid off as I could see the opportunity in the house I bought.
I reckon that I would have never bought this IP out off internet alone.
RE Eureka St, I don’t know of any specific issues affecting that area. I believe that good IPs can be found in many areas, from Alfredton and Wendouree Lakes (premium locations) to Wendouree West and Sebastopol (bottom end of the spectrum). All depend what is your plan, strategy and final goal.
Hope this helps
Luke
Luciano D. | TrueAgent.com.au
http://www.TrueAgent.com.au
Email MeAustralia's Best Real Estate Agents Under One Roof
Hi Jjinvester
I can give you my experience.
I purchase a miner cottage in Ballarat (Soldiers Hill is the exact suburb) for $220k, un-renovated in mid 2013.
After putting about $3,500 in small renovations with high impact (new painting, carpets, fencing, light fittings, etc), my rental income is $350p/w which is more than enough to cover for all property expenses (loan, rates, insurance, etc)
I think Ballarat is a good place to invest but the market is a bit slow. I guess it depends what’s you want to get out of it.
Cheers
Luciano D. | TrueAgent.com.au
http://www.TrueAgent.com.au
Email MeAustralia's Best Real Estate Agents Under One Roof
