VIC First time Investor - Armstrong Creek vs Whyndham Vale/Mambourin

Discussion in 'Where to Buy' started by Gaurang, 9th Oct, 2019.

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  1. Gaurang

    Gaurang New Member

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    10th Jun, 2019
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    Location:
    Melbourne
    Looking for first investment property around western side of Melbourne in the range of $500-550k.

    There is lot of discussion around Armstrong creek but not sure whether right time to invest has passed already or not.

    Looking for some suggestions around Armstrong Creek or western suburb closer to Melbourne (Whyndham Vale). Any thoughts?
     
  2. ashish1137

    ashish1137 Well-Known Member

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    Hi Gaurang,

    If you can try to source a cheaper lot and restrict numbers to 480k or vicinity, then numbers do make sense.

    It is all about saving and keeping price point low. Else you are buying at the peak of the market at the market price and wait few years for growth and wouldnend up paying holding costs as well.

    Wyndham Vale for some reason provides low yields and yields are further dropping for some reason. Anything old is struggling to rent.


    Regards
     
  3. zyea

    zyea Member

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    Can't see capital growth being much good in these new estates as there's plenty of empty padocks within 5km of them. I'd want it to be cash flow positive after mortgage, any management fees and maitenance are accounted for
     
  4. ashish1137

    ashish1137 Well-Known Member

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    Means you have some homework to do. :)
     
  5. zyea

    zyea Member

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    Each to their own. Not my strategy that's for sure.
     
  6. Gaurang

    Gaurang New Member

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    Thanks Ashish. Armstrong Creek does have good yields atm but looking at current projects, might drop there too.
     
  7. sash

    sash Well-Known Member

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    OK what strategy do you recommend?

    Would luv to hear some of your successes?
     
  8. sash

    sash Well-Known Member

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    You need to get edumacated....why ask the question if you already know the answer?

    Places like Wyndham Vale are now over supplied. Bur places like Armstrong Creek are largely under supplied.

    My advice is get off you backside and go and see what is happening....as an investor you need to do ground work with boots in ground. Stop listening to rubbish.
     
    SuperWoman likes this.