VIC 27 yr old immigrant looking for 2nd investment property

Hi, I came to Australia on a student visa alone when I was 20 yrs old from Himalayan kingdom from South Asia with 2k travel cheque. Life was very tough when I came to Australia with limited English . I had to work very hard to survive and save money. I am Australian citizen now, I have bought two properties in melbourne already looking for 3rd property with the budget of 700k . Can you please suggest me the suburb for good capital growth in coming future. My life has always been struggle, I want to retire when I am 42. Help me to achieve my dreams. Thanks.
Note: I joined this forum to know the views and share the ideas.

 

Wow good going, how did you afford university fees on 2k let alone houses?

Best of luck going forth?

 

I did tafe course in cookery. I did not have opportunity to go to big university fees as international student fee was very expensive nearly cost 64k for 3 years. I did cookery course for 16k for 2 years. I topped my school in science back home with achieving 86%.l was unfortunate to further career in science. Life has its own destiny, lets see where it leads to me. When I was student visa, i bought the share of cba and tpg which helped me to achieve to buy my first home.

 

Wow!!! From Nepal, India or Bhutan? I've done 3 Treks in the Himalayas. Two in Nepal ( Khumbu and Annapurnas ) and the other near Leh in India. All fabulous parts of the world.

Well done for doing so well and being so determined. Incredible that you are now searching for property #3.

Make sure you get yourself to one of the Melbourne meetups. Meeting and talking to other investors from the forums is the best way to extend your knowledge. I was going to say confidence but you have plenty of that!

 

Wow - that's an awesome story!

Sounds like you're off to a great start already! Maybe we should be asking you for advice

Cheers

Jamie

 

I am from Nepal chasing my dreams.

Guys , can u please suggest the suburb you think which can have good capital growth? Give the reason too. I tried my luck in eastern suburb for 2 months but not successful. Majority of eastern suburb are very expensive. Even morolbark is going for 700k which is too far from city.

 

Make sure you read all that is in this part of the forum and most probably you'll find the answer

 

I want to discuss about specific suburbs which can have good capital growth. I am looking for 600m2 +block of land near all the amenities.

 

It's kind of funny reading the posts. He's asking for specific advice and suggestions and instead we're congratulating him.

Congratulations. It's an impressive story.

I won't make suggestions as I don't know the Melbourne area but felt compelled to point out your eagerness to get suggestions.

 

Check out some of the posts by @sash. He writes and knows a lot about melbourne as he baught quite a few during the last few years.

 

@google boy , with $700K and wanting 600sqm (and I'm assuming a house), you'll need to go north, northwest or west. East, North East, South East and Bayside will all be too far out to find anything within your budget (based on your Mooroolbark comment).

 

lawl - this is the best line I've seen all year. Kudos to you sir

 

From other posts, he doesn't seem to like the West. Even the North - places like HW/HH 600m2 and $700K is a big ask.

Most places are now at the mimum $1250/m2 in the North and those are really hard to find, at sa 600m2, thats $750K before Stamp Duty.,

 

I don't want to spend 700k in west places like st alban. If I get the property with 600m2 block in below 610 k then I will buy in st alban. Otherwise , no way. I am looking different option. I have already got in east town house and north 700m2 block in Lalor

 

Looks good - lalor the next one I believe in next 2-3 years (that market area near the library is good).
I think you can still get below 610K blocks in St Albans

 

Not so. You need to know where to look...

 

I have finally bought 2nd investment property in altona meadows 600m2 block.

 

How did you find the altona meadows market google boy? I think it is an underated suburb being close to the beach and having 2 stations.

 

Address?

 

I just google it and did the research on altona meadows market. I hope it double up in next 7 yrs