Forums / Property Investing / Help Needed! / Where to invest

2019 Money Magnet Symposium - Discover how to make, and keep, more money and achieve a financially empowered future
Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of SeanMSeanM
    Member
    @seanm
    Join Date: 2010
    Post Count: 1

    Hi Guys and Girls,
    I am after your opinion where I should buy my 2nd investment property.
    I bought my 1st Investment property at Balnarring on the Mornington Peninsula.
    This property has just been revalued 50k to 65k more than we payed 2years ago.
    I have had approval from the bank to borrow 435k.
    My dilemma is to invest within 10kms from the CBD Melbourne or buy anther property on the Mornington Peninsula.

    What areas close to the CBD would be a good investment with the money I have to spend?

    Thanks for your time
    Regards Sean

    Profile photo of ducksterduckster
    Participant
    @duckster
    Join Date: 2004
    Post Count: 1,674

    Have you looked at  Frankston. It is close to east link and public transport to CBD

    Just you are not going to find a property 10k to CBD for $435k unless it is a small unit or apartment.

    Profile photo of BaysideBayside
    Participant
    @mornington
    Join Date: 2018
    Post Count: 64
    Profile photo of JaxonJaxon
    Participant
    @jaxona
    Join Date: 2014
    Post Count: 282

    Seanm personally I look at the deal over the Area, anywhere you can buy under market value with strong rental demand/return and the ability to add value and equity that is what I would aim for.

    obviously do DD on the area etc but the deal outweighs the area (most of the time) depending on your goals.

    at your Price range there are a lot of options from 10%+ returns to adding value on an existing dwelling to lots more.

    Profile photo of propBuyer23propBuyer23
    Participant
    @propbuyer23
    Join Date: 2018
    Post Count: 9

    Hi Sean,

    I can suggest looking in the Queensland area, where I believe many people are moving from Sydney and Melbourne.

    Look for some high growth suburbs around there and speak to some local real estate agents.

    I think you should be able to find something decent around the $450k-$500k mark.

    Cheers

Viewing 5 posts - 1 through 5 (of 5 total)

You must be logged in to reply to this topic.