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Block Of Land Warburton/East Warburton ???

Discussion in 'Where to Buy' started by Yasir, 13th Jul, 2016.

  1. Yasir

    Yasir New Member

    Joined:
    24th May, 2016
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    Location:
    Truganina
    Hi Guy ,
    I am new to this group . I am looking at buying my first IP . I want to start with something really small , in regards to cash . Something that I can invest in and maybe forget about it for good 10 yrs + .

    In Warburton $80 k gets you around 2500 sqm of land .

    What do you guys suggest ? Good investment ? Any downside ?
     
  2. JenW

    JenW Well-Known Member

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    Location:
    Perth, WA
    Warburton is predominantly a remote Aboriginal community. I believe there are a handful of other people there - the local shop keeper, probably some government workers - but it is in the middle of nowhere. It's 750kms away from Kalgoorlie, the nearest regional centre - probably an eight hour drive, depending on whether the roads are dry or not - I imagine when it's flood season Warburton is completely cut off apart from helicopter access.

    You are surely taking the piss.
     
  3. JenW

    JenW Well-Known Member

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    Oh and one last thing I forgot to add - if 2500m2 is worth $80K now, it will still be worth $80 in ten, fifteen, twenty years' time.
     
  4. Yasir

    Yasir New Member

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    24th May, 2016
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    Truganina
    Hi Jen,
    I was talking about East Warburton , almost an hours drive from Lilydale in Vic . Why would any one buy a block of land / invest in a remote Aboriginal community :) . Any idea about Warburton in Victoria .

    Google Maps
     
    tobe, Elks and Cactus like this.
  5. Chrispy

    Chrispy Well-Known Member Premium Member

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    ellejay likes this.
  6. JenW

    JenW Well-Known Member

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    Perth, WA
    Well, thank God for that, is all I can say!! This is one occasion where I am delighted to be wrong!! :D

    Edited to add: But if my husband asks, I admitted nothing ;)
     
    ellejay likes this.
  7. UrbanDingo

    UrbanDingo Active Member

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    Location:
    Melbourne
    warburton is more of a lifestyle place........not a place to invest........it is fire prone too.............
     
  8. Elks

    Elks New Member

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    15th Jul, 2017
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    Location:
    Batmania
    Are you talking 2500 m2 of vacant land? If so its not going to return you much in the way of income. Better to put your $80k towards a deposit on house and land.
     
  9. JamesP

    JamesP Well-Known Member

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    19th Jun, 2015
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    Location:
    Melbourne
    I noticed with Warburton you could get dual title blocks for 120k, transport 2 homes onto them (50k ea inc connections?) and sell them for 200k each perhaps.. provided people are willing to buy them. I'm also surprised at how expensive Woori Yallock/Yarra Junction area is. Warburton is considerably cheaper and only 10 minutes up the road, but considerably colder living up there.

    There'll never be any double digit capital growth in Warburton, but Melbourne/outer Melbourne region imo is cooked. Now 500k for H&L package in Werribee/Cranbourne. Buying right at the top unless there are more cuts, super concession for FHB etc. Which only delays peak. After peak the action will move from Melbourne Sydney to somewhere else.