VIC Outer East Melbourne

Thanks @MrFox appreciate it

 

I have a bank val from middle of 2014 for the house in Templestowe at $850,000. It's worth around $1,300,000 now. The prices have gone through the roof.

 

its posts like these that I ask myself, was my cheapie decision worth the hassles and headaches,

I had almost a million cash when I started buying my IPs, however poor serviceability, ie Iwas able to get multiple $250k loans but probably not a $500k loan

 

don't worry, you get a second chance, that is why I mentioned sell the lot some time ago in the thread you started regarding your cheapies. Sometimes its best to take your money off the table and re-tweak the strategy and start making money today.

Some investors will be chasing their tail for $2000 cash flow pa and that is at today's interest rates, holly molly, how many of these will one need to retire???they have completely ignored where the real money is. I completely understand we need cash flow, but capital first is what will make investors rich.

MTR

 

Anyone also familiar with Ringwood North? Would you recommend it for buy & hold? Have been to auctions in the area and has got a lot of owner occupier appeal. Would you see potential for an IP there considering that is not in the Ringwood secondary school zone? Ringwood is unfortunately out of my budget (median on 900k atm for a 3 1 1)

 

sometimes risk vs return - i personally don't see the point for e.g. having a 8-10 properties 3 million portfolio and see lacklustre growth. rather have a handful of managable investments even if they're a bit more exp. then again if you increase the magnitude as x 100 to 200 Ips lke nathan birch then that is a different ball game. like @MTR mentioned chasing the 2-3K maybe for some but if you have 1 mil in cash why not just buy 2 outright in sydney and just wait it out.

hard to judge these posts as the suburbs mentioned doncaster & east, templestowe, ringwood are all asian demographic targeted suburbs. So it with new money into the areas - it's not suprising that the suburb would rise just i didn't expect it to boom that much.

 

ringwood & north already boomed. with the SC, will definitely see some growth - however . i remember the times my friend bought there for 250K and i thought that was expensive years ago.

 

Is Melbourne near the top of its cycle? With these new lowest ever interest rates how does the old cycle of past compare to new cycles?
Are there cycles anymore or is this uncharted territory.

 

Gone ballistic, in particular development sites.
I think last year a deve sold sold for $1.2M many Asians been buying these.

 

The market today is actually fallen back from this time last year, however in saying this the fundamentals in Melb are still solid/strong, ie low interest rate environment, strong demand from investors/FHB, low stock.

I think when markets have been very strong 3 years+ then you need to be cautious as to where and what you are buying.

I know some investors who are currently buying in Melb but they are savvy they are buying properties which already have plans and permits in place with skin the game or just buying properties which still have value.

These are much harder to find because you need to network with the right agents and its a matter of you scratch my back and I will scratch yours.

MTR

 

Going by auction results weekly it seems stronger than this time last year, I know these results can be skewed and not relied upon but median prices are still rising in many areas, and stock is low. So I say it's probably better now than last year. Also going by some off the re valued homes people are mentioning. Markets still hot.

 

What is your budget. There are part of Ringwood you can get 3br for well under 900K. What land size are you looking for?

 

I am a believer

 

Just checked REIV auction result and 64 Allendale Road, Croydon, VIC 3136 Sold for $513K what a bargain ?? Or typo?

 

That's ok, a dated 3x2x2 on 864m2 sold for $917,000 in Heathmont this afternoon

25 Lorienne Street, Heathmont - Real Estate Agents

 

Deceased estate as well, only 1 photo of the interior on the listing; given it last sold in 1979 for $36,000 I'm guessing most of the house was in original condition and surviving family wanted a quick sale.

Not much in Allendale pushes past $600k...