Dan19Participant@dan19Join Date: 2009Post Count: 14
I'm a new investor and just wanted to throw out a broad question as I've been bombarded with so much information it's confusing me. I am currently a uni student and work part-time. I've always had a passion for properties and have decided this is what i want to pursue for the future. Our family and I in particular are always doing research over research and struggle to act at times.
We currently have our PPOR and another IP in the eastern suburbs of Melbourne. We are now looking to purchase another investment property and was wondering whether it would be a good time now or have we already missed the boat as property prices have already started to rise. Our first IP is self-managed but we would like to put this next one under management. I know as an investor you shouldn't always rely heavily on the market but just wanted to see other people's opinions for where the market would be heading in the future and specifically in Melbourne.
At times we all need a little reassurance and I am so grateful to have gained so much knowledge from everyone here.
Danoc1Participant@oc1Join Date: 2012Post Count: 148
Prices are rising but they haven't peaked. Not all suburbs have risen either. You should be ok as long as you don't pay too much. The level of stock is also low at the moment which is putting upward pressure on prices.
OscarJpcashflowParticipant@jpcashflowJoin Date: 2007Post Count: 575Dan19Participant@dan19Join Date: 2009Post Count: 14
We've been looking at areas such as Vermont, Forest Hill & Burwood East since we live around there and familiar with the market. Opinions of going bit more east into the Knox and Wantirna area?