1970's Estate - Red Brick Village - PPOR to IP in 3?

Good afternoon all.

Found a property as a PPOR in one of those 1970's estates where it's all red brick, everyone has the same gutter colours etc.

You can do what you want in your unit and in your backyard. But the outside and the estate looks like a leafy retirement village (but it's not).

Amenities are close, near a university campus and is otherwise an OK property (bar the external strictness on setting).

It will most likely go for $600-$650k in Bundoora, Victoria. $1.6k in Corp Fees (which seems high).

I could potentially turn this into IP after about 3 or so years.

Any of your thoughts or considerations on this type of property arrangement? You all come up with such interesting things to learn from your experiences.

 

You pay 1.6 K pa for peaceful enjoyment. Say $30 per week. Worth it I reckon.

Better than having all these hoons racing around the neighbourhood getting ya blood pressure up with their screeching tyres.

I’m off to Maccas for some dinner.

 

Well you're not wrong about the cars around Bundoora. I only just recently moved back into the area and I thought that culture was long dead from the 15 years ago I was last here (doing my own hooning)!

Thanks for your response and consideration - I hope you get the freshest of chips for dinner.

 

Nah. It's in the DNA for future generations.

Good to hear.

They were not bad actually.

Otherwise I would have smoked the tyres right out of the carpark and into the nearest red brick 1970s village estate lol

 

@Madium did you end up buying the property?

 

Auction is tomorrow and has a small amount of pre-auction Drama involved. The link to the latest in the situation is below.

Online Auction Tomorrow - Major Hazards in B&P