VIC Want to buy an IP in Victoria, 500k max, research is getting me nowhere!

Discussion in 'Where to Buy' started by SgJd, 12th Jul, 2021.

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  1. SgJd

    SgJd New Member

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    12th Jul, 2021
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    Location:
    Melbourne
    Hi everyone!

    My partner and I are wanting to go down the route of rentvesting as we live in inner city Melbourne and want to stay here for the next 5 years, atleast!

    We've done so much research and trawling through realestate.com, domain, property forums, listening to podcasts, joining facebook groups, and I feel like maybe we've got too much information which is making the process harder than what it should be. We've considered infrastructure, schools, public transport, rental yield and growth so far in our search.

    We're considering Lara, Tarneit, Armstrong Creek and Sunbury - to name a few - but I feel like we've missed the boat on all of these places. Looking for capital growth (approx. 10 years). I feel like we're looking into it too much, and we just need to bite the bullet and make a decision. We don't want to look in any other states at the moment as we live in Victoria and this is our very first property, so want something more 'local'.

    Does anyone have any tips? Suburb recommendations? Personal anecdotes? Thanks so much!
     
  2. Bendigus

    Bendigus Well-Known Member

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    Location:
    Victoria
    I guess you need to ask yourself a few questions.

    1 - do you want rental yield or capital growth or both
    2 - is your intention to buy and hold for long-term or sell in 5 years time when you want to buy your poor.
    3 -are you wanting to move into the investment property in 5 years time
    4 are you wanting a positively geared or negatively geared investment.
    5- why do you want property over shares etc
    6 - how do you plan to fund your poor in 5 years time
     
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  3. Bendigus

    Bendigus Well-Known Member

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    Location:
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  4. The Y-man

    The Y-man Moderator Staff Member

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    Freudian slip? :D:D:D:D

    The Y-man
     
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  5. The Y-man

    The Y-man Moderator Staff Member

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    While Vic is not a huge state, at the end of the day, a property in Mildura distance wise would be similar to getting one in Adelaide or Canberra?

    The Y-man
     
  6. Bendigus

    Bendigus Well-Known Member

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    Haha yeah ppor. However in my case the words are interchangeable. Late last year I purchased a run down bespoke house with the intention to renovate and move in.

    The Reno is progressing, as is the depth of the money pit. Between that and a recent baby I am certainly not in a position to buy
     
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  7. Gypsyblood

    Gypsyblood Well-Known Member

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    Melbourne
    Has Werribee moved out of the price range? And meadow Heights? I thought still some pockets there in that budget.
     
  8. skater

    skater Well-Known Member

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    Sydney? Gold Coast?
    Looks like analysis paralysis to me.
     
  9. Michael.Knight

    Michael.Knight Well-Known Member

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    Location:
    Melbourne, VIC
    Morwell, Traralgon, Sale
     
  10. Michael.Knight

    Michael.Knight Well-Known Member

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    Melbourne, VIC
  11. melbinv82

    melbinv82 Well-Known Member

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    Melbourne
    Perhaps look in Cranbourne, although the prices have gone up in the last 1-2 years.