Hi guys, I was a regular lurker over on the SS forums (primarily since I was and still am learning the ropes) and posted only a little. With the small intro out of the way, here's my situation and related questions. I'm ready to buy my first IP in the western/south-western burbs in Melbourne. Primarily been looking at Sunshine/Ardeer/Laverton areas only, though Sunshine's probably over budget now. Kind of leaves me looking at Laverton only as I'm unsure about Ardeer as it's too close to Laverton North's industrial area (for my liking at least). My budget is $350-$420k tops. I have narrowed it down to 3 properties in Laverton, large blocks and an 'okay' house on them. My intention is to hold for 2-3 years, knock it down and build 2-3 townhouses on it (I know subdivision plans cost a lot of coin). I'm after decent CG and 'hoping' Laverton will start moving north like its neighbours in Altona Meadows/Williams Landing etc. From what I've seen Laverton's achieved a rental yield of about 4%, not the greatest but it is what it is. I'll sell 1-2 of the townhouses and hold the other(s) - this can change, nothing's set in stone. So, for my questions now please: - Obviously, I'd like some cash flow, and little to no hassle first IP, is this a good ploy? Or should I be looking at a newer house since there wont likely be much maintenance (this will limit CG I believe). I'll ensure I get a pest + building inspection before I sign on the dotted line. - Newer houses in Laverton are much newer, no more than a few years old and they are mostly townhouses again with lower CG possibilities than if I were to knock an old house down and rebuild. So which way should I go - newer or older? - what are your thoughts about Laverton in general? Thanks in advance!