HI,
I am new to property investing. We have our own house in Point cook and now looking to buy our 1st Investment property. trying to get something close to neutral geared.
We looked at one house, 600 sqm land, 40 sq, already rented (tenants living in the house for couple of years and happy to extend). We ll only go about $400pm out of pocket.
I understand a lot of new house coming up in Point Cook, but I think the price have gone up too.
Is Point cook or Melbourne west underrated?
Is it a good buy or we should look at something in southeast?
Highly confused…I think as long as you do your due diligence and are looking to keep the property for around 10 years plus you will not go wrong. Personally you do not need a 40 square house. Something from 22 to 25 squares ideally 4 bedrooms 2 bath double garage. You will not go wrong. If you are buying to hold for 2 or 3 years you are a speculator not an investor. However these are are good 10 years from now people will be looking a look further out than Point Cook.
Couple of interesting facts, 75,000 people a year moving to Melbourne than 1,500 a week. Most are families and they are not building enough houses to keep up with demand.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
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Thanks Nigel :)
The property didnt had a proper sec 32, so still waiting on that. Looking for more in Hoppers Crossing/Werribee area as well.What is your property investment strategy?
Knowing your why and strategies for property investing is the first step towards answering the question you asked, that is whether Point cook or Melbourne west. This will reduce any confusion that you may have and get you on the right path in securing your financial freedom.
If I may ask, what is your goal or reasons for buying your first investment property in either Point cook or Melbourne west? It is for capital growth or yield? What is your investment timeframe? Are you investing purely for tax deductions? etc….
Patrick Ow
http://howtobuyrealestate.com.au
Email MePatrick,
Point Cook doesn’t have a train station. So people working in the city. Which is most of them will not rent there. I don’t think there is an any good capital growth in near future for point cook. Its a new suburb has the bigger building and narrow roads. No major shopping centre to attract people from other areas.
Most of the shoppers and movie goers in the West would prefer to go to Highpoint or Werribee shopping centre.
Point cook is a like an Ocean of Suburbs or I might call it as Universe (no end in sight, not even Einstein can predict the dimensons). I am living in Altona North, Watching Point Cook Grow from Altona Meadows to Werribee South. Which is now called Upper Point. It might extend to Lara Lara which might be called Upper Upper Point Cook. So much land to put whole Melbourne in Point Cook empty lands. If you are expecting council to provide all the facilities. Don’t think it will be possible.
Point cook is targeted for Overseas Investors and Migrants. It is the only suburb without any boundaries. If you are a beginner and would like to learn hard lesson in Investing. Please go ahead and pay premium price for it.
Go for a drive a watch the ever expanding fields of Point Cook. New house with un kept gardens and small shopping centers. Bad schools. We dont have many great people coming out of that suburb in any time in future.
If you have $500,000 to Invest. Look out for a suburb.
1) Train Station.
2) Good Schools
3) Walkable to Train Stations.
4) Good Shopping centres (future entertainment hubs)Its my opinion only. No disrespect to people who have already Invested in Point Cook.
Thank you
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This reply was modified 7 years, 2 months ago by
Hari Yellina.
Hari Yellina
Email MeKeep Investing - Grow while Resting.
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This reply was modified 7 years, 2 months ago by
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