VIC ballarat prospects?

Just had CBA valued our IPs:

Ballarat North one
- Bought on Feb 2015 for $250,000
- 2 bed, 1 bath detached house
- Valued last week at $270,000
- So annual CG of 5.3

Ballarat East one
- Bought on End of Jan 2015 for $235,000
- 3 bed, 1 bath detached house
- Valued last week at $250,000
- So annual CG of 4.3%

Being positive cash flow ones since we bought, can't complain. Those growth are more like icing on top.

 

Hi Everyone,

I'm looking for a Building and Pest Inspector in Ballarat. please share if you have a reliable contact ASAP

 

The man for the job is Rick Ford from Elim Property Inspections for the building inspection component. He'll give you a recommendation of who he likes at the moment for the pest inspection side of things.

ELIM PROPERTY INSPECTIONS

 

It is not my intention to be negative about your numbers or your gains - I personally see it in the following terms. I see 250k purchase + 11k stamp & transfer duty + conveyance/soli 1k and the property cost 262k. So an 8k gain or if selling a $0 gain because agents fees would wipe it out. We have a central property 3 1 2 purchased around the same time as your first example and close to same purchase price. I don't consider I have made any gains until the stamps and potential selling costs are covered and there is something left to put in the pocket.

 

I see property investing as a long-term process, rather than a short-term gain. So my numbers are just to keep me in the game. As I mentioned in my previous post, CG is just a bonus, as I focus mainly on positive cash flow properties. As I grow more mature as an investor, I know how to find better deals than those ones. Those 2 are my first ones as my portfolio.

 

+1 for Rick!

 

Surely gains can only be counted once sold and the money is in the bank.

 

Yep otherwise its called a "paper gain" and hopefully doesn't equate to the same value at the pointy end of the plan

 

Or the equity is extracted out

 

Exactly, that's the point!

 

Some mixed messages here, but:

A baby boomer destination

 

Maybe, the area and price point I have pitched towards is more aimed at the first home buyer priced out of the Melbourne market. Family homes either side of the $300k mark.

 

How cold does a Ballarat winter get?

Some retirees love the cooler climates but many don't, hence the stereotypical retirment to northern NSW beach towns or QLD coastal towns.

 

A week before we went to do a Reno at one of our IPs, it snowed: Snow hits Ballarat CBD again | photos, videos

When we were there, we needed a scraper to scrape off thin slices of ice on our windshield every morning.

 

Hi folks - If anyone is reading this who is a local in Ballarat, I'll be in town this coming Friday night, ahead of a full day of inspections lined up on the Saturday (I then fly out 6pm Saturday so it is back-to-back viewings until 3.30pm!)

If anyone is in town who watches the local markets, I'd love to meet up for a drink or perhaps a pub dinner and pick your brains on local market insights. In fact, dinner and drinks on me to say thank you for your insights. Staying on Sturt street so very central. PM me if you are around and we can find somewhere to meet up on Friday night (getting a VLine train from Melbourne so should be there around 7pm).

Cheers!

 

I've already got another commitment next Friday evening however depending on how your plans turn out I could stop by for a tipple a bit later in the evening....

What suburbs/areas do you prefer & will be inspecting properties in? (this will give some insight into your strategy...) Also, are you looking for development potential?

 

How did your visit to sunny Ballarat go @C-mac? Any goers?

 

Hey mate - hasn't happened yet, its this Fri 26th/Sat 27th.

 

LOL - oops, will be interested to hear how it goes anyway.

 

@C-mac : hey how was your visit at ballarat? Keen to hear your thoughts

Regards,
Bala