All Topics / Help Needed! / Morwell VIC… Any opinions?

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  • Profile photo of RealEstateQueenRealEstateQueen
    Member
    @realestatequeen
    Join Date: 2005
    Post Count: 69

    Hi everyone,

    I am considering an investment property in Morwell VIC to do a little subdivision, and not knowing too much about the area other than what council can tell me, I wondered if anyone has any opinions on this town?

    Would i have a problem selling my development once completed? Do things move slowly there sales wise is my main question, but also is there anything i should be concerned about here?

    Thank you all in advance!!!!!!!!!!!!!   

    Profile photo of JLtarraJLtarra
    Participant
    @jltarra
    Join Date: 2004
    Post Count: 90

    Hi R.E.Q

    From my experience i see the town as a little sleepy.
    I had my eye on it in regards to commercial and the one thing that put me off was the amount of vacant commercial shops/office in the main street.
    In saying that though i bought commercail propety in another sleepy Vic town near Mildura (+ve geared) and have just sold it and down quite well out of it.
    As for residential not to sure, i sugest you pick the REA's brains, and go for drive down there during the week.

    John

    Profile photo of grumpyoldchickgrumpyoldchick
    Member
    @grumpyoldchick
    Join Date: 2008
    Post Count: 8

    Morwell is a great place to buy bullet-proof IPs that return 6-7%, however, vacant land there is dirt cheap, and I think you would find the cost of doing a subdivision would not be worth your while…..

Viewing 3 posts - 1 through 3 (of 3 total)

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