VIC Unit in Tullamarine

Discussion in 'Property Analysis' started by Mlee17, 10th Jun, 2020.

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  1. Mlee17

    Mlee17 Well-Known Member

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    Mlee17, 10th Jun, 2020
    #1
  2. The Y-man

    The Y-man Moderator Staff Member

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    Looks ok to me....

    The Y-man
     
    The Y-man, 10th Jun, 2020
    #2
  3. Mlee17

    Mlee17 Well-Known Member

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    Would you buy it? If yes, at what price to make it worth your while and why?

    If not, why not?
     
    Mlee17, 10th Jun, 2020
    #3
  4. The Y-man

    The Y-man Moderator Staff Member

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    Would I buy it in my current situation?
    No.
    I have enough IPs so would go for a commercial prop trust instead. I need the income to support my portfolio.

    The Y-man
     
    The Y-man, 10th Jun, 2020
    #4
  5. The Y-man

    The Y-man Moderator Staff Member

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    FYI - I bought a very similar unit in Lalor in 2013 for $280k. Quite happy with it. Today that unit would be worth about the same as this one. So if I was very early in my investing journey and couldn't afford a house, I'd say it was a heap better than an apartment.

    Oddly, I like the area too - I did look there at one time because I feel it is a good area for rentals due to the proximity to a lot of industry - manufacturing, logistics and of course airport/airline related work.

    If everything was fine on a B&P and the owners corp wasn't run by some crazy people (get the s32 and see the OC minutes), I'd going in at the bottom of the asking range.

    The Y-man
     
    The Y-man, 10th Jun, 2020
    #5
  6. The Y-man

    The Y-man Moderator Staff Member

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    The Y-man, 10th Jun, 2020
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  7. Mlee17

    Mlee17 Well-Known Member

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    Care to explain why people still think Dandenong has a lot of growth? Looking at the history, it seems that it hasn't grown that much although the city centre in DDG is pretty well developed. I can't seem to understand why investors love dandenong?
     
    Mlee17, 28th Jun, 2020
    #7
  8. The Y-man

    The Y-man Moderator Staff Member

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    Until covid put a halt to proceedings, we saw a price wave going through the suburbs along the dandy line - so westall (clayton south) > springy > nob park > ... nest stop Dandy

    Affordability is the the other big thing.

    The Y-man
     
    The Y-man, 28th Jun, 2020
    #8
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