VIC Narre Warren thoughts on purchased property

Discussion in 'Property Analysis' started by Gu42, 12th Feb, 2020.

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  1. Gu42

    Gu42 Active Member

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  2. Pev

    Pev Member

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    Depends. What are your intentions with it? PPOR, rent out, or subdivide and build units on? It's a good distance from the train station and Westfield which would make it attractive to renters. Just not sure about its proximity to the train line though - how loud is it when trains go past?
     
  3. The Y-man

    The Y-man Moderator Staff Member

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    NEVER ask for an opinion after you have bought! :D

    The Y-man
     
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  4. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    Well thats co-incidental. This property was a close friends parents home. The address did seem familiar.
     
  5. Pev

    Pev Member

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    Words to live by. Iā€™d be interested in your opinion regardless Y-man as I have been looking in that area myself! Namely for a plan to subdivide, build townhouses then either sell or rent (which would also afford 50% CGT less)
     
  6. Gu42

    Gu42 Active Member

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    This took a while to get a reply. It settled in march just as the first covid lockdown started, luckily we got it rented out and haven't heard from the tenant since so its all going well.

    You cant hear the train from the house, I'm happy with the purchase I'm glad we bought it when we did otherwise all this covid stuff probably would have stopped us looking for our first investment property.

    The plan is to rent it out for a few years then subdivide and build later on.
     
  7. Pev

    Pev Member

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    Would be able to fit 2 good sized town houses on your block. What was the level of interest like from renters when you put it up for rent if you don't mind me asking?
     
  8. Gu42

    Gu42 Active Member

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    We had 8 applicants from memory, it was good considering every thing that was happening with covid.