VIC Melbourne - what to buy, where?

Hahah knew that a while back and knew it got sold out (stage 1) - I thought I mentioned it in another post?? but I'm a bit sus...my brother in law got an application just for curiosity, the area is sort of dead at the moment. The site used to be a run down 70s/80s shopping strip/plaza like place. It was really just concrete walls basically, 80% was vacant....opposite is Godfreys and a spate of building materials stores.

 

Really helpful to see this strategy. Would it be fair to say that this method works best on more expensive properties (or in heated markets) which are for up for auction? So if trying to get properties that are cheap Eg below $300k it would not work as well?

 

buy in dallas, broameadows, jacana, doveton, dandenong, melton, werribie, cranbourne, cragieburn, wollert, , roxabourgh park, frankston north, pakenham, officer

 

Haven't many if not most of those suburbs already moved quite a bit? Not much steam left?

 

yeah I only got this an my email today - I think stage 2
yeah I know the area well - worked off springvale rd mulgrave for many years - what application is your bro in law doing to buy one of the apartments?

 

I think it was some expression of interest form - like you need to register before you can actually buy?

He's not buying just curious...he refuses to touch apartments!

 

All the suburbs googleboy dislikes LOL

 

do you recall the glen Waverley apartment block couple years ago ard the train station- all the mainlanders lined up pushing and shoving till they smashed the windows and it sold out the whole tower in a few hours.

 

Yeh, are you referring to the Ikon tower? The one already built? I thought it was some creditor meeting at first (I passed it on that night it was sold out). There is another one going on as well opposite the Glen...but haven't seen any demolition or cranes yet!

The Ikon tower (one right on top of Glenny station) turned out to be a flop. Wife's friend purchased on (despite our suggestion she should buy in Noble Park instead at the time for pretty much the same amount), I think a 2 bedder for high 300ks, 400k almost. Anyway, rent is sporadic, a lot of Mainland Chinese thought it could be a backdoor into Glenny high (you needed a 2 bedder) and told us if she tried to sell today, she would easily lose $50K. Had she dumped in Noble Park, it would have easily made $300K.

 

majority of OTP does not make coin - it is a pretty ugly tower if you ask me. if you ask me - should have just dumped $$ into bogong avenue - units townhouses etc (5-6 years ago) - that's the golden mile in glen

 

Stock standard tower. Entrance is bewildering though...

Nah, if it was me, I would have dumped it on a bigger block in a less stellar suburb.