I'm looking to buy IP number 4. First 3 all in Vic but land tax is making me look elsewhere Feel out of my comfort zone as I've always made road trips from Melbourne to do the research legwork (other 3 are in Geelong, Bendigo and Cranbourne). Any tips on a good spot for around 300-400k? (still waiting to hear back on serviceability) Maybe somewhere on the edge of Victoria I could still drive to? Or other possibilities further afield / good sites for analysis I like historic towns/cities, houses, old style, 3-4 bedroom (plus industry/infrastructure of course) Any suggestions much appreciated
Yes sorry! Long term capital growth is my main focus although obviously want a reasonable yield too (5-6% would be good) subdividing potential would be a bonus, although not essential just a solid investment from capital growth perspective i.e. in a location with schools, university, industry, families etc I like older more traditional towns/cities with unique features and well built old houses sorry still probably quite vague
Perth ofcourse. $400k will get something in the middle ring (10k to 15k) with 6% yield or something < 10k from the city with slightly lower yield. Plenty of discussions in the two main Perth threads. One of the least effected capital cities in the COVID downturn so far ... Perth market 2020 [WA] Post a Bargain - Perth 2020 [WA]
Ooh Eden - lovely little place - looks like there's some kind of major government employer there too. I'd feel a bit anxious about being so much in the middle of nowhere though in terms of rental demand and long term growth drivers
Agreed - I reckon it will be easier to fly to Perth (or Brisbane) and a good excuse to visit some new places in Oz. I prefer the security of being within 10-15km of the CBD.
Brisbane if you want a capital city, Albury if you want a regional town just next door. Wagga also a possibility. Perth if you bet on the Chinese are not too cheesed off by ScoMo and still buy the ores and materials from Australia.