VIC Thoughts on buying land in Portarlington?

Discussion in 'Where to Buy' started by MsNewbieInvestor, 1st Jun, 2020.

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  1. MsNewbieInvestor

    MsNewbieInvestor Well-Known Member

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    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.
     
  2. Angel

    Angel Well-Known Member Premium Member

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    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?
     
  3. MsNewbieInvestor

    MsNewbieInvestor Well-Known Member

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    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.
     
  4. Angel

    Angel Well-Known Member Premium Member

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    Last edited: 3rd Jun, 2020
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  5. Westie

    Westie Well-Known Member

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

    Reddy Well-Known Member

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

    MsNewbieInvestor Well-Known Member

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

    Stoffo Well-Known Member

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

    Reddy Well-Known Member

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

    MsNewbieInvestor Well-Known Member

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    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.
     
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  11. Reddy

    Reddy Well-Known Member

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    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
     
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  12. MsNewbieInvestor

    MsNewbieInvestor Well-Known Member

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    Thanks -I agree.