Melbourne Outer Growth Areas $12/hr

Discussion in 'Property Market Economics' started by Cactus, 27th May, 2017.

Join Australia's most dynamic and respected property investment community
  1. JayWin

    JayWin Member

    Joined:
    13th Dec, 2016
    Posts:
    23
    Location:
    Melbourne
    It's a 71m2 two bedder with an amazing layout. Usually with the newer apartments, layouts tend to be messy, as the architects try to maximize space, but lose a lot of space with passageways. This one is pure 71m2 of usable space, which is why it's commanding rent at a pretty penny. Agree, will be looking at AirBnB closely. It does mean active management though, not a set-and-forget.

    Agree that Melbourne offers pretty good yield plays if you've been scouring hard enough. Collingwood apartment bidding war erupts with 160 applications in an hour - they're asking $620-$750 for a 2-bedder in Collingwood now. Unheard of in Melbourne say 18 months ago.

    I'm a big fan of Robert Kiyosaki, so I only look for strongly +ve cashflow IP's. Unfortunately, that means crap CG's where I've been investing.

    I know, I know ... probably haven't been looking hard enough. Very happy to have stumbled onto this forum, most investors here are humble and happy to share info. There's such an amazing community here!
     
  2. JayWin

    JayWin Member

    Joined:
    13th Dec, 2016
    Posts:
    23
    Location:
    Melbourne
    Thanks for the explanation. I guess it's protecting both parties, and it just happens to suck for those purchasers.
     
    Cactus likes this.
  3. melbournian

    melbournian Well-Known Member

    Joined:
    2nd Sep, 2015
    Posts:
    3,038
    Location:
    melbourne

    Good on you and you're done really well (with your cashflows). I haven't played in the apartment market for a while. I only used to buy 2 bedroom apartments that were 90sqm or larger in the past for renovation/refurbish but have sold just about all my apartments in Melbourne CBD southbank, south Melbourne, carlton etc 5 years ago. I was looking at the rents and it has jumped. normal 2 beds used to be fetching 400-450 - now some even are going ofr 550-600 per week.

    still a lot of Malaysian property developers keep on buying sites after sites in Melbourne.

    upload_2017-6-14_11-25-3.png
     
  4. Cactus

    Cactus Well-Known Member

    Joined:
    18th Jan, 2016
    Posts:
    1,445
    Location:
    Melbourne
  5. MikeyM

    MikeyM Well-Known Member

    Joined:
    2nd Jun, 2017
    Posts:
    52
    Location:
    Melbourne
    Where would be the best source for finding lot deals that are falling through?? Not something that is advertised understandably..
     
  6. Westie

    Westie Well-Known Member

    Joined:
    19th Jun, 2017
    Posts:
    1,136
    Location:
    Melbourne
    Ring up the sales consultants, they'd know this. I've also heard that people that cant settle talk to the sales consultants they dealt with, the developers then hand these blocks to the volume builders that do H&L ready homes.
     
  7. Cactus

    Cactus Well-Known Member

    Joined:
    18th Jan, 2016
    Posts:
    1,445
    Location:
    Melbourne
    Good luck. Not happening in Vic.