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800k-850k budget - how would you spend it

Discussion in 'Where to Buy' started by bythebay, 28th Jun, 2015.

  1. bythebay

    bythebay Well-Known Member

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    hi guys

    how would you play it with that budget

    My current thinking is a house of some sort as close to Melb CBD as possible ...

    Not from Melbourne so will be doing some serious dd In the coming weeks. Any recommendations, feedback welcome.

    Thank you all in advance
     
  2. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Id spend it in Brisbane, try to get 2 ips with that money.
     
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  3. monalisa

    monalisa Well-Known Member Premium Member

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    I'd also look to buy two in Brisbane.
     
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  4. Be Developer

    Be Developer Property Developer Business Member

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    @cadence

    it really depends on your really strategy.

    As @monalisa suggested look at buying 2 in Brisbane

    or

    look at buying in Melbourne.(may be bit late now)

    My money is on Melbourne.. however i have one Deve site in Brisbane too.

    Not looking to invest in brissy for while... other markets are much hotter for my liking..

    I met @alexm at meet up yesterday and he had some interesting development in Southern Sydney, worthwhile dropping him a line!
     
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  5. Traveller99

    Traveller99 Active Member

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    You're still likely to acquire a period home within 10km of the CBD if you purchase in the north or west. I saw a very decent 2 bedroom Edwardian in Northcote pass in for 800k yesterday. Plenty of opportunities for lovely homes in Kensington, too. Other suburbs to look out for are Coburg and the lesser known Pascoe Vale South. Best of luck! :)
     
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  6. Be Developer

    Be Developer Property Developer Business Member

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  7. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

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    1 inner ring Brisbane property with change, or two middle ring Brisbane properties.

    Wild card: Four properties in Adelaide, or one middle ring Brisbane, two in Adelaide.
     
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  8. bythebay

    bythebay Well-Known Member

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    Thank you so much everyone for your posts and suggestions! Really appreciate it!

    Was in Melb a couple weeks ago. Did back to back inspections and attended auctions in north melbourne, brunswick, caulfield north, st kilda, fitzroy, to gauge the areas and prices. prefer to get a house if possible and north melb seemed ok though theres not a lot of good quality stock at this price level.

    Was supposed to check out a few in coburg but there was simply not enough time.

    Will do dd on all the suburbs recommended. I thought i was thorough in my research but clearly still managed to miss a couple of the suburbs mentioned. So thank you again for sharing.

    Re brisbane. Ive personally been harbouring the view melb will outperform brisbane due to factors such as population growth, job opportunities and infrastructure. But im definitely open minded. If so many experienced investors are putting their money there there must be good reasons. planning to fly up there for a week in the next few months to drive around and get a feel. can definitely do with some better yields.

    will do some research on adelaide.
     
  9. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    I have a similar budget and am looking 5-15km of Brisbane CBD.

    1-2 houses can be had for that money. Very good buying at the moment.
     
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  10. dublin_101

    dublin_101 Active Member

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    Which are the Brisbane suburbs to be looked at? I'd appreciate a list if possible. And I'll hit the research.
     
  11. York

    York Finance Broker Business Member

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    Logan Area.
     
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  12. York

    York Finance Broker Business Member

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    You can comfortably get 2 in Brisbane. Closer than 30km from CBD. Or 3 in Adelaide. Maybe Elizabeth Area.
     
  13. tone1

    tone1 Active Member

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    For your budget in Melbourne and in the suburbs you listed, I think you'll get the best bang-for-your-buck (3+ bedroom house, good block size) in Brunswick, Coburg or Pascoe Vale South, and these areas are continuing to grow.
     
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  14. R377

    R377 Well-Known Member

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    One in adelaide and one in brisbane

    janine.jpg
     
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  15. HUGH72

    HUGH72 Well-Known Member

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    One in Brisbane and one in adelaide with change left over.
     
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  16. Jingo

    Jingo Well-Known Member

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    Hi Cadence,

    You could look in areas with sought after government/private schools. The University High School is one such school and if you buy in North Melbourne, your IP will be in the zone. I'd look for a Terrace Home as they are scarce and will achieve capital growth over time. Your budget should see you well placed to buy a 2 bedder in this area.

    Princess Hill Secondary School is also a sought after government school with a long waiting list. Buying in parts of Brunswick East (a highly sought after suburb with excellent scope for capital growth) will put your IP in the zone for this school.

    http://phsc.vic.edu.au/index.php?option=com_content&view=article&id=108:zone-map&catid=45&Itemid=59

    The best streets in Brunswick East are Edward, Weston and Barkly, although others around that area are fine too!

    All the best with your search.


    Regards Jason.
     
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  17. D.T.

    D.T. Adelaide Property Manager Business Member

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    4 in Adelaide
     
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  18. Heinz57

    Heinz57 Well-Known Member

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    Just spent it...gulp. Settle in Brisbane today.
     
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  19. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Nice one! Share details when you can :)
     
  20. Heinz57

    Heinz57 Well-Known Member

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    Within 15 to 20 kms south of the CBD. 3 x 1970s townhouses on a 800+ block zoned 3 stories.

    very happy
     
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