VIC Tarneit.. is it as bad as it looks?

Went back to tarneit for first time in two years today. Was not impressed with that i saw.

Went to see this house open..

25 Conondale St Tarneit Vic 3029 25 Conondale St Tarneit Vic 3029 - House for Sale #124129030 - realestate.com.au

As I drove up i noticed two smashed up cars in street. Dumped rubbish on vacent blocks and front gardens that were a sea of weeds.

Stepped inside and the house was a disgusting mess. Only 4 years old apparently and had been trashed. The worst estate agent i have a encountered a young chinese girl met us didnt take our names gave us no information and tried to excuse the condition of the property. Its actually put my wife off property investing.

Drove around the block after saw more and more if same dumped rubbish overgrown weeds... my god...

Had been thinking about investing after reading some positive things on here. Unless this is just a bad pocket??? It doesnt seem a wise idea

 

Quite apart from the condition, it isn't positioned well on the block, the bedroom, toilet and bathroom will get the northern light - not the living area.

 

An incompetent selling agent is the best friend of experienced investor. Not sure how bad the street appeal is at the moment, but the proximity to train station and new infrastructure is unbeatable. I guess the atmosphere will change once all the surrounding blocks are built and develop a community

 

I just worry at the moment the quality of tenants u can get their might cause you a lot of trouble. Maybe im too quick to judge but it looked rough and those new houses already looked aged

 

Poor presentation and an incompetent agent sounds like opportunity to me.

Does the cost vs return stack up?

Seems very well located.

 

Im worried tho the area is going to become run down and undesirable by the time it comes to sell.

 

Don't be too quick to dismiss - what are the numbers looking like for you?

Tarneit will do very well, and already is... a good property manager can help manage risks, like the above.

 

You're not living in it and you're not living in the area. You're looking at a 4 bed house, walking distance to a train station in Melbourne for around $500k. It wouldn't be that cheap if the suburb was nice.

I wouldn't let it turn you off. Go by the numbers and future prospects, not by your emotional appeal to the place.

 

Seems like this is your first investment. You need to broaden your thinking mate.
The sort of selling that has happened in tarneit, and the sort of demographics that have purchased there, i do not agree the condition will stay to be the same.

Moreover, it is so near to the station. You wont get anything less than 430k-450k.

What was the sell price?

Regards

 

I looked at quite a few places out Mel West, as others say, you can hardly expect same type of tenants as you would get in a place 3x the price.

I like that type of selling agent.

Looks good spot for getting the train.

 

Yeah would be first investment so obviously some work to do concentrating on just the numbers.

Found a local who confirmed that particular area is bad. Called the ECOVille estate. Other parts of tarneit better so need to do a few more visits.

 

House hunting a la Property Chat....

Grass in neighbour's yard 15 foot high....Check!

Burnt out cars in the street....Check!

House a disgusting mess?.....Check!

New realestate agent given the property no one else wants to touch?......Check!

It's PERFECT!!!! I LURVE IT!!!

 

Look up plans for the Indian-based Tarneit Junction in that exact area.

Look at recent population growth numbers with regards to migration from India.

Very large numbers flocking to Tarneit.

So that property could have high tenant demand.

 

It's probably the first time the agent walked in the house considering she's from Malvern

 

Surprised its still available. Maybe try lowballing them and see how you go. Looks good!

 

I think Tarneit will do well over the long term. Wages are actually higher than average in the area and it attracts young families - sounds like the being of gentrification to me. I wouldn't dismiss it. Now is probably the best time to jump in.

 

I would look at somewhere like Sunbury before Tarneit personally