First investment outside VIC

Discussion in 'Where to Buy' started by Becky, 1st May, 2020.

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  1. Becky

    Becky Active Member

    Joined:
    28th Oct, 2017
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    Location:
    Melbourne
    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 :)
     
  2. VICPER

    VICPER Well-Known Member

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    Location:
    Melbourne
    How about ballarat ?
     
  3. Becky

    Becky Active Member

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    Location:
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    needs to be outside Vic
     
  4. Jess Peletier

    Jess Peletier Mortgages, Finance & Property Strategy Aust Wide Business Member

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    Perth WA
    Hey Becky,

    That's a really broad criteria! What do you need -yield? Sub div potential?
     
  5. Becky

    Becky Active Member

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    Location:
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    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
     
  6. VICPER

    VICPER Well-Known Member

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    My bad I got confused with below.
     
  7. Becky

    Becky Active Member

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    Sorry yes that does sound confusing, hey? I meant the outer edge lol
     
  8. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Eden :)

    Albury Wodonga

    ta

    rolf
     
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  9. JohnPropChat

    JohnPropChat Well-Known Member

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    Location:
    Middle Earth
    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]
     
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  10. The Y-man

    The Y-man Moderator Staff Member

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    Decent drive - I guess not too many turns or traffic lights on the way....:D

    The Y-man
     
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  11. JohnPropChat

    JohnPropChat Well-Known Member

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    Just one giant STOP sign at the border. WA residents ONLY :)
     
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  12. Becky

    Becky Active Member

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    Location:
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    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
     
  13. KingBendtner

    KingBendtner Well-Known Member

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    Adelaide, Brisbane, Country NSW, too wide a criteria
     
  14. Becky

    Becky Active Member

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    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.
     
  15. Becky

    Becky Active Member

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    Yes that's my problem! so many markets to consider
     
  16. spoon

    spoon Well-Known Member

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    Location:
    Time-dependent
    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. :D