Perth investment advice - Victoria Park and East Victoria park

Discussion in 'Where to Buy' started by icic, 18th Jan, 2018.

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  1. MyPropertyPro

    MyPropertyPro REBAA Buyer's Agents Sutherland Shire & Surrounds Business Member

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    No problem! Private message sent.
     
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  2. icic

    icic Well-Known Member

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    btw guys, who do you for building and pest ? I am hoping that we can one settled soon.
     
  3. hematite

    hematite Well-Known Member

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    I used resicert, it worked fine as they picked out an issue that I later was able to use to discount the price.

    Also look at Rivervale (top half). Lots of re-development in that area with the Aloft Hotel, Stadium, Crown redevelopment, New unit blocks etc.

    The rental market is tough right now, and there is more of a scummy element in the suburbs you listed (and river vale) than suburbs the equivalent distance from Sydney CBD.

    The employment market is slowly recovering in select sectors. I sense a potential skills shortage in the future in a few specific ones.
     
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  4. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    icic likes this.
  5. icic

    icic Well-Known Member

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    thanks everyone. btw, what do you guys think of the spending 600k on townhouse type of property on a divided block in Vic park close to the river side. looking at a few 200 to 300m block with 3x2x2, is it a good investment type?
     
  6. thatbum

    thatbum Well-Known Member

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    Probably a terrible idea imo, but that's just personal opinion. I'd rather pick up a bigger block with an old house - or a reno'd character home on a small block.
     
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  7. icic

    icic Well-Known Member

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    thanks for your honesty, there's consideration i need a 4-5% for finance approval that might not be possible for us. we are either going for newish properties further away from city or smaller one closer to the city. what who be your recommendation in that case?
     
  8. icic

    icic Well-Known Member

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    hey @thatbum @Westminster @hematite What are my best bid for something no more than $600k with 4-5% return in a high demand area easily maintained as I am from interstate? I am also investing via SMSF so I can't do major improvements to it with any borrowed money. What else is out there aside from already suggested suburbs? I really keen to learn. Thanks in advance!
     
  9. MyPropertyPro

    MyPropertyPro REBAA Buyer's Agents Sutherland Shire & Surrounds Business Member

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    Cockburn or Atwell.
     
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  10. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Easily maintained is the hard part as the areas close to the city tend to have some older houses.

    Maybe something that is already renovated?
    2 Blythe Avenue Yokine WA 6060 - House for Sale #126569398 - realestate.com.au
    20 Grafton Road Bayswater WA 6053 - House for Sale #127386898 - realestate.com.au

    I am just listing stuff that I would consider ideas worth thinking about - they aren't recommendations as such.
     
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  11. icic

    icic Well-Known Member

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    Hey guys, we are have decided to go with a 3 bedder town house style house in Vic park with about 350sqm land in total(included shared driveway).

    Thanks for all the suggestions, confirmations and counter opinions. The reasons that we go with it is because of the location, it's within walking distance to the CBD. It's got a very vibrant cafe and restaurant theme. It's demographics are young, multicultural and aspirational. It reminded me a lot of Glebe, Surry hills and New town of Sydney.
    Also the fact that it has the 2nd best non private primary school(4th best overall) in WA within it's catchment is a huge plus.

    Thanks @Westminster and @Ross Forrester for recommendations on conveyancers and inspectors, I used MDH and Best West Buildings and both are very prompt and professional.
     
  12. icic

    icic Well-Known Member

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    Actually Victoria Park Primary School Ranked first amount government schools for last year! This is quite impressive by any standards.
     
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  13. icic

    icic Well-Known Member

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  14. charttv

    charttv Well-Known Member

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    I use Craig Kelson of Kelson real estate who is a Vic Park local. Generally, it's about 9% of gross rent in WA from memory though like everything, this will be negotiable.
     
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  15. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Congrats on the purchase @icic !!
    First - throw whatever rate you are charged in Sydney away and forget anything remotely near that.
    PM rates will vary from 7-9% and will include or exclude various letting fees, inspection fees etc etc.
    I use TC Realestate
     
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  16. theperthurbanist

    theperthurbanist Well-Known Member

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    Geeze, you guys are getting a bargain! I’m pretty sure I pay around 12% and then next agent I had in line was closer to 14% (all inclusive)!
     
  17. icic

    icic Well-Known Member

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    thanks for the recommendations! Does yours included routine inspections? if so how of often. Really want an agent that runs like a clock work and proactive in dealing issues as it comes up.
     
  18. charttv

    charttv Well-Known Member

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    routine inspections are not included. $66 once per quarter. I think Craig has an all inclusive fee including inspections of something like 12% of gross rent from memory.