- JpcashflowParticipant@jpcashflowJoin Date: 2007Post Count: 575
In the last four weeks, I have set my eyes in buying another ip in Geelong / Hamlyn heights.
I have targeted 6 properties – two that where on auction today, one auction next week and three for private sale.
four weeks ago agents where saying they couldn't keep up with selling homes and there was not enough stock on the market. This seemed true as opens where busy.
Four weeks later all homes are still on the market and opens where dead.
One auction today passed in, agent called in a vendor bid and that still sparked no action. I put in a pretty low offer after the auction: so let's watch this space
Moral of the story. When looking for property take your time and don't get caught up with the hype.jmsrachelParticipant@jmsrachelJoin Date: 2012Post Count: 711
Jp I thought you were over property for now and sold most of your stock? Can I ask why Geelong?ConnollyParticipant@connollyJoin Date: 2012Post Count: 49
I second Joe- can I ask what is your strategy and why your bullish on Geelong?JpcashflowParticipant@jpcashflowJoin Date: 2007Post Count: 575
Hi Joe and Connolly
Really good questions…..
1) I sold allot of my shares due to do many external factors effecting the market. China issues, war in Ukraine and earnings falling short for allot of companies
2) why Geelong "etc" doing allot of research in regards to Geelong, both federal and state government are looking at pumping millions into the area.
Talking to locals the area is transforming from a manafactuting hub to a service hub.
All in all the way in looking at buying is at buying the property under market valuexdrewParticipant@xdrewJoin Date: 2010Post Count: 479
I think overall Johann might be onto a good thing with what I have witnessed in the Greater Dandenong area.
The govt has already spent over a billion to get a new section in town .. revamp a couple of major thoroughfares, the rail station and basically create a new town centre.
If that happens in Geelong … DESPITE the current outflow from the auto sector and manufacturing … you'll be looking at a different clientelle within 10-12 years.
And Johann's money will have been well spent.Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
Agree we have picked up some cracking properties for our clients recently in the region.
My partner knows most of the agents in the area and we are starting to get some interesting calls prior to official listing.
In fact we are just closing on a Call Option opportunity in the area which is set for an interesting re-zoning.
Matter of watch this space.
Yours in Finance