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Is Pascoe Vale good for investment?

Discussion in 'Where to Buy' started by newtothis, 27th Aug, 2016.

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  1. newtothis

    newtothis New Member

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    hi all

    my hubby and i are looking to buy an investment property.
    as we have no experience in investing we have had a property suggested by a property investment firm .
    townhouse is in Pascoe Vale...3 bed 3 bath..next to station and in the great school zone.
    negative is that it is one of 8..and it has no yard just a big balcony.
    builder is senol and it is OTP.
    quoted price is 595k
    do you think this is a good investment with capital growth potential long term and from your experience is the price negotiable when buying through the investment firms?
    thanks so much in advance
     
  2. MrFox

    MrFox Well-Known Member

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    Senol is a volume town house and apartment builder. I have not heard anything bad about them. Their product is usually high density. If that's what you are looking for the price sounds reasonable. Make sure that they have the permit issued and you see the stamped plans. They do everything in house so that should not be a problem.
     
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  3. Scott No Mates

    Scott No Mates Well-Known Member

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    @newtothis - I thought that you had misspelled 'senile', I would have said avoid at all costs. Thanks for clearing it up @MrFox
     
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  4. MrFox

    MrFox Well-Known Member

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    Hahaha. His name is Rustu Senol. He buys blocks on 12 months settlement and than they design the units and sell off the plan. They do everything in house and work on volume there fore they can sell at very low margins. Cool company and the guy certainly is doing very well.
     
  5. newtothis

    newtothis New Member

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    thank you
     
  6. S.T

    S.T Well-Known Member

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    I'm not selling anything
    Check out Essendon airport flights paths, jets fly over some of the suburb.
     
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  7. Greyghost

    Greyghost Well-Known Member

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    Don't think this is an issue. Pascoe vale is some way away.
    Besides has not affected prices in strathmore or Essendon.
     
  8. S.T

    S.T Well-Known Member

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    I'm not selling anything
    I used to live in Pascoe Vale, close to the railway station. We had Jets fly over enough to be annoying.
     
  9. Greyghost

    Greyghost Well-Known Member

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    I lived in jacana on the vline tracks.
    Oak park close to McDonald's and behind Glenroy library towards the valley (opposite Essendon airport) for 17 years until 2014. Used to walk to the valley where I played cricked 3 times a week.
    Not an issue.
    Sure you heard the big water bomber helicopters etc, but never found any of it annoying.

    Possibly if you lived where "the castles" house was where the planes come in to land it could be annoying, which is the boarder of strathmore and strathmore heights, but other than that...
     
  10. S.T

    S.T Well-Known Member

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    I lived in Park St Pascoe Vale, if you look at a map of Essendon Airport there is an East/West runway which almost follows Gaffney St, there is a navigation beacon close to where we lived Planes came in to land right over our house.

    This probably explains it best.

    Noise Enquiries | Essendon Airport

    I wouldn't live there again!
     
  11. oki doki

    oki doki Well-Known Member

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    Don't know enough about Pascoe Vale, Talk to an agent from 'Nelson Alexander' or other bigger REA in the area for rent appraisals and general opinion about the street/neighborhood.
    I dont think anyone can tell u about future CG, but you can look at vitals such as distance to amenities,school zone etc which u r already doing.
    Can i ask why buy via an investment firm ?
    595K = whats land size ?+ whats build cost ?. Break these up - get comparable sales/prices for the land size and est build cost ...and you will know the large markup these firms charge.