We have a few suburbs that we are considering at the moment for our 1st IP and it has basically come down to 2 type of choices given limited funds. Unit/townhouse in Carrum downs or possibly Broadmeadows/Meadow Heights or a house in Geelong suburbs like Newcomb/Corio/Norlane. Would love to hear everyone's thoughts and suggestions.
Hello Mr. Arora, At this point in. cycle, it would make more sense to buy something which you can easily hold and add value in future. That strategy can happen in Norlane/ Corio/ Geelong. Go to auctions, study the market, dig deep. Know your budget, prepare to stretch if required. Know the rules, bee decisive, quick, buy well and reap the reward. Cheers
Hi, Thankyou for your input @ashish1137. Though I am not sure why the assumption about Mr. Arora Would love to get an insight into holding costs in Geelong suburbs as most of the properties are old and hence cant claim depreciation. How is everyone who has an IP in Geelong suburbs, going with cash flows. TIA