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VIC Any landlords in Sunshine?

Discussion in 'Where to Buy' started by Bookle, 19th Sep, 2016.

  1. Bookle

    Bookle Member

    Joined:
    5th Dec, 2015
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    7
    Location:
    Melbourne
    Hi all!

    Am currently looking into getting a property in Sunshine as it's relatively affordable compared to the stupidity happening in the inner city.

    Partner thinks we may have high risk of crimes, break-ins and bad tenants, turning it into a everyday headache as opposed to a set and forget investment. With the oncoming recession, partner thinks it's only going to get worse.

    Any Sunshine landlords wanna shed some light on this? Have you had difficult problems with your tenancies? Or is my partner just being overly paranoid?
     
    G TOWN likes this.
  2. Brady

    Brady Well-Known Member

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    18th Jun, 2015
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    Location:
    Adelaide, SA
    No personal input on Sunshine - but do own properties in lower socioeconomic areas...

    Crime happens everywhere, the only crime I've had happened to my best located property...
    Tenant turned it into a grow house - it's now knocked over and development happening, during the build there has been a reasonable amount of theft.

    Have the appropriate insurnace in place and it's no longer your problem
    Factor insurance costs when you're looking at the ongoing cost of each property
    Most providers will have online calculators that will let you punch in suburb/address for a quote.
     
    Bookle likes this.
  3. G TOWN

    G TOWN Well-Known Member

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    26th Aug, 2016
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    Location:
    Geelong First Home Buyer
    My family has roots in Sunshine dating back 60 years, when we first migrated to Australia from Europe. I'll ask my grandfather when I see him next. He's lived in Sunshine since 1956 (West since 1972 in the very same house), and owns multiple investment properties in the area.

    I've never experienced any nasty goings on in the area. The town centre has a vibrant feel to it, and is a pleasant place to spend your time. I don't feel unsafe at all. I've been to the redeveloped Sunshine train station many times, yes even past midnight, and never had any issues. I feel safe walking in the dead of night.

    I do have one piece of advice though- stick to north of Wright St. Either side of the SEC transmission line is okay (some huge blocks on the left towards Fitzgerald Rd). South of Wright St there is a dense collection of housing commission homes; sure, many have been sold off, but the standard of living down there just isn't the same, and you likely wouldn't be able to get the same rent or quality of tenant.

    I agree with you about the crazy stupid prices in Melbourne's inner suburbs. I feel like Sunshine is the last vestige of 'reasonable affordibility' in inner Melbourne. Sunshine is no longer low 'socio economic' anyway! But hey, I'm biased ;)

    Have you guys been on the ground?
     
    Michael M, Bookle and Iamnumber5 like this.
  4. Lil Skater

    Lil Skater Well-Known Member Business Member

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    Location:
    Melbourne
    I've managed many properties in Sunshine and surrounding areas over years. I've only had one broken into, and all we did was add some security doors and deadlocks (as previously it only had the little handle locks).

    I've also not had any issues with tenants. It's all about vetting them properly from the start, if you don't do this then you very well could be in for some trouble.
     
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  5. Iamnumber5

    Iamnumber5 Well-Known Member

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    Location:
    australia
    It is actually a lot better than the rumour.
    My wife had the same concern about investing in Sunshine, but it was before she went there for the first time.

    We drove around there a few times, and thought the place has a lot of potential. The town center has been getting a lot of upgrade, and it is still an ongoing process.
     
    Bookle likes this.
  6. sofman

    sofman Member

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    Location:
    sydney
    Yes had tenants in st albans and yes make sure you are diligent in who you pick and it should be fine. Mature 25+ employed people seem to do OK as tenants in general.
     
    Bookle likes this.
  7. Bookle

    Bookle Member

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    Location:
    Melbourne
    Thanks for the advice G Town! I also feel Sunshine isn't low socioeconomic, in fact I think I came to the party too late investing here. : )
     
  8. Bookle

    Bookle Member

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    Location:
    Melbourne
    Thanks No. 5

    I kinda think our perspectives are skewed to how we felt Sunshine was like 10-20 years ago. Now it's probably very much different.
     
  9. Bookle

    Bookle Member

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    5th Dec, 2015
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    Melbourne
    So pick the right tenants and have good landlord & house insurances in place. Sounds like investing in any other suburb then!
     
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  10. larrylarry

    larrylarry Well-Known Member

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    Location:
    Sydney
    What's the yield like in Sunshine?
     
  11. JacM

    JacM VIC Buyer's Agent Business Member

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    12th Jul, 2015
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    Location:
    Melbourne, Australia
    Depends on a few factors (dwelling type/size, part of town etc).