VIC IP suburbs in Melbourne with SMSF

Discussion in 'Where to Buy' started by GGs, 4th Jan, 2020.

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  1. GGs

    GGs Member

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    Hi

    I am looking at buying a property with my SMSF . Budget is @550k

    need a decent rental yield in addition to capital growth. Looking at western suburbs or outer south eastern suburbs

    i have been consienring the following
    Melton
    Mickleham
    Officer

    Input thoughts appreciated
    Thanks
     
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  2. Westie

    Westie Well-Known Member

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    Not sure what you consider decent rental yield, but for that budget I'd be looking at Werribee and its surrounds. Yield's pretty poor almost anywhere, but if you're decisive you may get something BMV and get better yield that way. Whatever you do, buy a property with the largest land component you can afford and preferably walking distance to a train station or major shopping center.
     
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  3. GGs

    GGs Member

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    Well I meant atleast having a ongoing rental yield .
     
  4. 3rd Drop

    3rd Drop Well-Known Member

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    Have you thought of Cranbourne or Cranbourne West?
    You can still get a 3 bedroom house with 500 to 600 sqm land for less than $500k.
    Surrounded by existing infrastructures and dual train track under construction. Worth having a look before making any decision.
     
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  5. GGs

    GGs Member

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    What about braybrook or officer ?
     
  6. Westie

    Westie Well-Known Member

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    Braybrook appears way over your budget (for houses), small townhouses sell for $550k or so. I wouldn't buy them, have you seen the amount of development going around Braybrook and Maidstone? IMO, that'd depress CG for some time to come. @sash has IPs in Officer, maybe he can shed light.
     
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  7. GGs

    GGs Member

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    But isn’t that development a bonus and that means it would grow further
     
  8. sash

    sash Well-Known Member

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    You will be able to get something under 500k.....in Officer.

    But you may need to wait for the land...
     
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  9. Westie

    Westie Well-Known Member

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    Well, when there's lot of supply, prices get suppressed, generally. Cast your eye over at the Kings Park, Albanvale, Deer Park sorta area too.
     
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  10. JohnPropChat

    JohnPropChat Well-Known Member

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    Cash purchase or mortgage? Why residential?
     
  11. GGs

    GGs Member

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    Super managed
     
  12. JohnPropChat

    JohnPropChat Well-Known Member

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    I have a resi in my SMSF, interest rates are higher than the usual IP mortgages.

    You'll need enough liquidity and good yield to make it work. Negative gearing is pretty close to pointless in a SMSF.
     
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