Hi People,
Between those two suburbs mentioned below in Victoria state:
Frankston, VIC 3199
Werribee, VIC 3030Which one that you prefer or choose for investing that is recession proof or at least with the high yield closer to neutral gearing ?
Strategy is to hold and rent with minor cosmetic reno for uplifting the design.
Thanks.
SiteManager
Investing for a better future
Frankston is always on everybody’s radar I feel, if you can find a good deal there I think id choose it over Werribee, but then if you can find a better deal in Werribee, I’d go with where ever will give you the best return.
I would be calling up or dropping in to some local agents in the areas you’re looking in and having a chat with them, they are the area experts and can give great insights.
If I were you I would write up a deal profile and list everything you want in a property (eg as close to positive cash flow, growth area, needing a facelift) and then hand that to the agents, get them working and hunting for you.
Adnie | Advice Investments
Email MeCool, that does make sense @adnie
I’m in NSW so that way might work as you suggest :-)SiteManager
Investing for a better future
Hey @sitemanager – in short I was about to send off same reply as Adnie Frangers gets way more publicity but I just did a quick review and house median is significantly lower in Werribee, 325k vs 399k gross yield higher also(4.64% vs 4.29%). Both have general potential long term I am a big believer in satellite towns off capital cities. Possibly Werribee wins for value and yield at this moment in time? Really it comes down to your belief about infrastructure growth and other drivers for future desirability and population expansion. This will impact more down the track.
Can I ask why VIC specifically? If you are in NSW there are also plenty of equivalent options outside of Sydney also.
All the best!
BuyersAgent | Precium
http://www.precium.com.au
Email Me | Phone MeSouth Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
Hey @sitemanager – in short I was about to send off same reply as Adnie Frangers gets way more publicity but I just did a quick review and house median is significantly lower in Werribee, 325k vs 399k gross yield higher also(4.64% vs 4.29%). Both have general potential long term I am a big believer in satellite towns off capital cities. Possibly Werribee wins for value and yield at this moment in time? Really it comes down to your belief about infrastructure growth and other drivers for future desirability and population expansion. This will impact more down the track.
Can I ask why VIC specifically? If you are in NSW there are also plenty of equivalent options outside of Sydney also.
All the best!@knightm, well the reason is because NSW is already expensive mate. Hence I’m looking for another state for cheaper option but with more population growth potential.
SiteManager
Investing for a better future
Its very interesting that your looking at two suburbs on either direction of Melbourne CBD.
Both areas are great and if you decide to go invest in both places then its a very good example of not putting all your eggs in one basket.
I think if you use both areas as a starting point and research suburb by suburb towards the CBD you will find some really good quality investment opportunities.
Maybe also have a look at Melton, just north of Werribee. There are some good positive cash flow properties there. Great for buy and hold.
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