Hello & Happy New Year - 2021

Discussion in 'Introductions' started by Krish8, 4th Jan, 2021.

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  1. Krish8

    Krish8 Member

    Joined:
    4th Jan, 2021
    Posts:
    7
    Location:
    Melbourne
    Hello All, I have just now created my account on this Property Chat Forum.
    Little about myself, my partner and I have been investing in properties, We have 2 investment properties- 1 in Melbourne's southeast suburb and another one in Melbourne's western Suburb.

    We recently visited Geelong and fell in love with waterfront properties on the eastern beach road and western beach road. Is this a good area to invest? Always wanted to invest in waterfront properties and wondering if Geelong would be a good option.

    We are looking at our 3rd IP and have a budget of 500-550 K, would a 1/2 bedroom investment along the Geelong waterfront be a good investment.

    many thanks
    Krish
     
  2. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    13,934
    Location:
    Brisbane
    I can't help with your area, but welcome to the forum.

    The only thing I'd say is to avoid a one bedroom place. It limits your pool of tenants too much in my opinion. Even a single or couple would like a spare room for visitors, or storage.
     
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  3. Krish8

    Krish8 Member

    Joined:
    4th Jan, 2021
    Posts:
    7
    Location:
    Melbourne
    Thanks Wylie
     
  4. Stoffo

    Stoffo Well-Known Member

    Joined:
    14th Jul, 2016
    Posts:
    5,301
    Location:
    In the Tweed
    So you are looking at apartments in that price range....
    Better off to buy a house or duplex in Rippleside (very nice little pocket, though since the marina went in prices have likely shot up) or even North Shore (older industrial area, but good potential)
     
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  5. Krish8

    Krish8 Member

    Joined:
    4th Jan, 2021
    Posts:
    7
    Location:
    Melbourne
    Thanks Stoffo, I will surely check out these areas.
     
  6. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,386
    Location:
    Sydney
    Happy New Year and welcome!
     
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  7. KateAshmor

    KateAshmor Victorian Conveyancing Lawyer Business Member

    Joined:
    25th Jun, 2015
    Posts:
    711
    Location:
    Melbourne
    Welcome! :D Lots of great opportunities in Geelong: there are various discussion streams on this forum that can assist. If you can’t inspect properties in person, a buyer’s advocate will ensure you optimise the streets and suburbs to focus on.
     
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