VIC Ballarat Tip: The Capital of Western Victoria

I havent really heard of lucas being a future ghetto......yet

 

It’s 1 o’clock in the morning and I have to get up in 4 hours to go to work but I cannot stop reading this thread!!! Truely eye-opening and learnt sooooo much! Thank you to everyone whom contributed towards this thread!!!!

 

Hi everyone! I know everyone has talked Ballarat to death but can your great minds please send through your suburb recommendations for IP’s. I went to uni in Ballarat nearly 20 years ago so much, much has changed! My husband and I are looking at a preferably positively geared house (3/4 bedrooms 2 bathrooms - not town house as we want to avoid strata fees)
Thanks!

 

you wont get anything truly positive geared in ballarat, let alone most of the country

 

We have a house in Charnwood ACT positively geared doing very well so we do know it’s not a magically myth. Do you have any recommendations for suburbs?

 

positive geared upon purchase, of all expenses including insurance, management fees, based on 100% LVR?

 

We didn’t borrow 100%, we didn’t need mortgage insurance and there arent any ongoing fees management as it’s a free standing house SO as I said before, do you have any recommendations? If not, then kindly not reply thanks

 

so its not a true positive gear,

if your criteria is, positive geared on a random LVR which you dont state, and youre not considering mgmt fees, as well as insurance etc, and everything else, then pretty much everything in ballarat would fit your criteria,

Dont think you understand the meaning of positive geared (no offense)

 

Wow, your just rubbishing one of the main posters who has contributed to these Ballarat threads.
Backtrack through these threads, the info is a major help in picking areas to look at in Ballarat. You'll need to do some homework, every suburb has it's good and bad points.

 

Never got a chance to thank those posters that were generous in sharing their thoughts on buying in Ballarat. We've recently purchased, you guys saved us plenty of legwork and the information shared was spot on. Cheers

 

The most credit should go to #ko ko naing
His first post was brilliant

 

Certainly got my attention. People pay for information like that.

 

It's a great feeling to see people getting the most out of this thread! Please keep healthy conversation here to add value to the thread. Different people interpret the meaning of positive-geared quite differently.

With the current Ballarat market, I believe there is no true positive-geared properties anymore at 100% LVR. With good investment grade properties in Ballarat, you will be aiming for capital growth. The Rat has changed its position from being a market with plenty of good cashflow properties before the current boom to being a market with good prospect for capital growth.

 

@Flynn Investor If you read the whole thread carefully, you should be able to pick up brains from a lot of posters here. Some of the posts even went down to like street level. I know, it'll take time. If time is something that you can't invest, you'd better off using a buyer agent to work for you. That works for some investors.

Personally, I like learning things by myself. Later on in my investment journey, I can apply similar approach in doing my own due diligence. So my time is not going to be wasted in vain by reading all these posts and learning from others.

 

My missus thought I was mad when I printed off maps of suburbs and was highlighting streets and areas.
After a day of driving around she agreed with the areas suggested.
When we first approached this we were thinking of a property buyer until those quotes come in and we actually put some time in driving around.
I'd be interested to see the stats on the local property market for the past few months.

 

If you had bought a 1m property in Melbourne 6 months ago you would have made more money in absolute terms than someone who bought in Ballarat 6 years ago lol. Not bashing regionals...but something to think about

 

That may be true...but you have to think about three factors:

1. Cash flow - not everyone has the money to service a $1m mortgage. As a 26 year old I certainly don’t
2. It’s a heck of a lot easier to save for a deposit for a home here
3. Before your conveniently chosen time frame Melbourne was going through a crash, whereas Ballarat has climbed steadily over the past 3 years.

 

Lol, every investor has a different situation. Not everyone wants to gamble a million dollars on an investment property. That's also something to think about.

 

I was recommened by a friend who knows his stuff, of an appreciating asset that the market had take a bit of hit over recent times (I wont say what it is for arguments sake), he predicted a doubling in 3 years, 3 years later, it increased by 150%...

the only problem was that it was 10million to get in!

 

Mikey..are you are looking at with a local Ballarat hat?

I see places like Lucas being sought after......