VIC Thoughts on buying land in Portarlington?

I am starting to research possible areas in Melbourne to purchase IPs.

Someone recommended Portarlington to me.

The land is close to the sea (great views), 30mins from Geelong and there's a ferry that travels from Melbourne to Portarlington.

The land is zoned farming, but could potentially change in the future.

Would appreciate your thoughts on whether or not you think this would be a good area to invest.

 

It is a lovely area to live in, but then so is Mornington which is half the commute time to Melbourne when the resident needs to travel into the city. Do you understand what landbanking is?

 

Hi,

Yes, I understand what landbanking is. That would be the idea behind purchasing in Portarlington -with the aim of future development. Of course development is not guaranteed.

Do you know what sort of person I need speak to when I find a property of interest, to see if it has good potential? Who has that sort of expertise?

Thanks.

 

@The Y-man is your man.

 

I'd say @sash is your man. He's the undisputed king of H&L.

 

Wondering if you have managed to buy in farm land in Portalington ?

 

No, I didn't. I actually decided to invest in shares instead of property.

 

Bet that 30min drive is now 40min, even with the Drysdale bypass.....
No way you would do the daily commute to Melb !

 

Thanks for taking time to reply
Have you invested in VAS or something similar?

 

Sadly, I still haven't invested in anything.

Initially the plan was to invest mostly into direct resi property.

Now we have decided to invest purely into shares.

I want to invest in a handful of index shares, I just haven't quite decided which ones yet (VAS will be one of them though).

Share investing certainly has a steep learning curve.

 

it's fine, self learning is lot better than paying someone to do it. IMHO it's ok to be slow when it comes to do with money and investing better not to rush into anything as it can lead to costly errors

 

Thanks -I agree.