VIC ballarat prospects?

Discussion in 'Where to Buy' started by jomi, 8th Oct, 2015.

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  1. Tekoz

    Tekoz Well-Known Member

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    One thing that gets me interested is that Steve McKnight has his investment property here as well, so he can't go wrong in selecting Ballarat area for investing.
     
    Tekoz, 26th Oct, 2015
    #41
  2. TheGreenLeaf

    TheGreenLeaf Well-Known Member

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    @Tekoz I think Steve McKnight sold all his residential property in Australia some time ago. But you're right that he started his investment journey in Ballarat.
     
    TheGreenLeaf, 27th Oct, 2015
    #42
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  3. Tekoz

    Tekoz Well-Known Member

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    Thanks mate, are you one of his disciple by any chance ?

    Whoa.. if that is the case, then three is something bad going to happen in Australian property market that he predicts :eek:.
     
    Tekoz, 27th Oct, 2015
    #43
  4. adrian_christian

    adrian_christian Well-Known Member

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    Did you end up deciding to hold??
     
    adrian_christian, 12th Nov, 2015
    #44
  5. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    Looking to add 1 or 2 IPs to my portfolio recently in Ballarat, I couldn't find any as good yields as the ones that I bought at the beginning of the year. Although I haven't got a formal valuation on my properties, I feel like the market is moving a bit. Maybe it could just be this time of the year. Not really sure.
     
    Ko Ko Naing, 15th Nov, 2015
    #45
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  6. larrylarry

    larrylarry Well-Known Member

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    I will be paying more attention on Victorian properties now due to land tax in NSW.
     
    larrylarry, 15th Nov, 2015
    #46
  7. C-mac

    C-mac Well-Known Member

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    @cherubym what kind of stock in Ballarat are you looking to purchase?

    And what kind of yield are you seeking?
     
    C-mac, 15th Nov, 2015
    #47
  8. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    Anything that can be renovated and also rentable at the current condition. Something close to the central.

    The yield must be more than 5.8% gross with potential to further development in future.
     
    Ko Ko Naing, 15th Nov, 2015
    #48
  9. Tyrell

    Tyrell Member

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    Im thinking of building an IP on a block I have off tait street, what do you guys think?
     
    Tyrell, 17th Nov, 2015
    #49
  10. jomi

    jomi Member

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    Have decided to hold for now :)
     
    jomi, 17th Nov, 2015
    #50
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  11. Ben Kingsley

    Ben Kingsley Well-Known Member

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    We bought over 60 properties in Ballarat for our clients from 2011 to 2014. Had a good run with growth and very good tenant demand. We moved on to new areas because our research suggested it was getting close to the top of that cycle. That doesn't mean sell. You must always consider the following points before ever selling
    1. Capital Gain Tax outcome
    2. Cost of selling
    3. Cost of buying in a new location again

    If the property is generating income and you have some equity in it, think about accumulation over time. Might be best to play the long game instead of the short game sometimes.

    All the best
    Ben
     
    Ben Kingsley, 17th Nov, 2015
    #51
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  12. TMNT

    TMNT Well-Known Member

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    When did you determine was the peak?

    Because although growth hasnt been non existant. It hasnt grown that much to warrant peak
     
    TMNT, 19th Nov, 2015
    #52
  13. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    It looks like almost every investor here believes that Ballarat is still at 9 o'clock on the cycle. It means it is still a good place to buy compared to Geelong and Bendigo.
     
    Ko Ko Naing, 21st Nov, 2015
    #53
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  14. adrian_christian

    adrian_christian Well-Known Member

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    The concern for me is when a company like Empower Wealth deemed one of their property plays like Ballarat well past midnight. I still think the fundamentals are very good for a long term hold.
     
    adrian_christian, 21st Nov, 2015
    #54
  15. Beelzebub

    Beelzebub Well-Known Member

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    HTW has Ballarat at 9PM. Hopefully they are right.
     
    Beelzebub, 21st Nov, 2015
    #55
  16. adrian_christian

    adrian_christian Well-Known Member

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    Ended up selling last Wednesday for $260,000.
     
    adrian_christian, 24th Nov, 2015
    #56
  17. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    How much was it rented for?
     
    Ko Ko Naing, 24th Nov, 2015
    #57
  18. adrian_christian

    adrian_christian Well-Known Member

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    Not 100% sure if it was an IP or OO, but you'd hope to get around the $270+/week I would have thought..
     
    adrian_christian, 24th Nov, 2015
    #58
  19. Toon

    Toon Well-Known Member

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    Toon, 30th Nov, 2015
    #59
  20. C-mac

    C-mac Well-Known Member

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    @Toon thanks for the share.

    Still getting contradicting opinions on where Ballarat is at on the property clock. Different data sources saying different things :/
     
    C-mac, 5th Dec, 2015
    #60
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