VIC IP for 750k - Rowville or Bundoora area? Views please CG perspective

Discussion in 'Where to Buy' started by ItsMe1985, 22nd Nov, 2020.

Join Australia's most dynamic and respected property investment community
Tags:
  1. ItsMe1985

    ItsMe1985 Member

    Joined:
    13th Aug, 2016
    Posts:
    14
    Location:
    Melbourne
    What would you suggest from CG perspective?
    Our budget is 750k and able to find some 500m2 land and old build (will be able to rent for now).
     
    ItsMe1985, 22nd Nov, 2020
    #1
  2. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    13,525
    Location:
    Melbourne
    Bundoora. RV is nice, but Bundy is better serviced by transport and closer to the CBD.

    The Y-man
     
    The Y-man, 22nd Nov, 2020
    #2
    ItsMe1985 likes this.
  3. ItsMe1985

    ItsMe1985 Member

    Joined:
    13th Aug, 2016
    Posts:
    14
    Location:
    Melbourne
    Thanks for that. Just started researching a couple of weeks ago and very confused.
    Bundoora seem nice but waiting for a bargain in Watsonia or Macleod. Low chances but trying our luck.
     
    ItsMe1985, 22nd Nov, 2020
    #3
  4. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    13,525
    Location:
    Melbourne
    Yeah, we looked in the area years ago. Ended up buying in Epping and Lalor.

    The Y-man
     
    The Y-man, 22nd Nov, 2020
    #4
  5. craigc

    craigc Well-Known Member

    Joined:
    25th Jun, 2016
    Posts:
    1,601
    Location:
    Melbourne
    If Rowville, you could also keep an eye on the streets opposite Stud Park shopping centre. (Across Stud Rd). Many have been rezoned to higher density and you can see many unit complexes have been built.
    Could be a gamble on future zoning changes if you go on the edge of this zone & then sell to developer.
    I have no inside knowledge if this rezoning is about to take place (Ie this could be a gamble for years) or not, but it could be a strategy similar to what @Car tart has described previously in seperate threads.
    As @Y-man mentioned, good area close to Eastlink & Caribbean Gardens business development, but only serviced by buses for PT.
    Kingston Links Golf Course on Wellington Rd is/has being converted to houses also.
    Not advice but good luck.
     
    craigc, 26th Nov, 2020
    #5