VIC Marshall suburb in Geelong for IP

Hi All,

I am looking into buying an investment property around Geelong region?
Does anybody have any recommendations on where I could start looking?

Any suggestions about Marshall and Waurn Ponds?

The other suburbs I have shortlisted are Grovedale and Highton.

Please advise if there are any other suburbs?
Thank you.

 

Hi @Reg2019

What kind of purchase price and rental return are you looking at?

Cheers,
David

 

Hi David,

My budget would be max 550K-560K and rental yield between 4.3%-4.4%.
Thank you

 

Hi @Reg2019

Try searching around if you can get a good land deal. You can target something less than 500k with 4.6%+ yield. Not tsking into account the one time costs like stamps and interest.



Regards

 

Ok.

 

Plenty of options then. Apart from the suburbs you've listed I would also consider Belmont. I've explained my thinking process in this previous reply:
Where to buy? Geelong or Newcastle

Grovedale/Marshal will likely get you better yield, but Belmont/Highton I reckon will be solid performers to keep for the long run.

Good luck and happy hunting!

Cheers,
David

 

Thank you David!

 

Hi David,

Will you recommend Grovedale or bell post hill in the current situation?

Many Thanks

 

Both are decent Geelong suburbs for long term keep in my opinion. From memory Bell Post Hill is an older suburb so has more older houses sitting on bigger land component in comparison to Grovedale which is a younger suburb with newer houses, hence you may get more value per square metre land wise on Bell Post Hill but house will need more work.

So both suburbs have their pros & cons really - comes down to what suits each investor better.

Cheers,
David