Hi, Ive asked a few individuals on PC who have provided some valuable info but I though I'd put the question out to all to see if I can get any more info. Im looking at a property in Wendouree, specifically Gillies St North, and as a part of my due diligence I am hoping to get some feedback on the area, good, bad, or ugly. I am after a buy and hold investment that has at least neutral cash flow and ability to subdivide down the track. Growth in the short/medium term is also required. I am aware that this is on the edge of the undesirable 'triangle' and tenant selection will be imperative. This area is extremely affordable which can Be a catalyst for growth, but are there any other drivers in play here which will increase demand? Gentrification? Is this street too busy? If you could negotiate a solid price would you buy here or elsewhere (keeping in mind we can buy up to ~350k). Is this likely to be one of those places that is forever a 'slum' or can you invisage more affluent people moving in? Having never been there I'm after any information I can get! Our BA has already provided information but I thought I'd leave this out to ensure info provided from PCers isn't skewed. Many thanks in advance. Robbo
I'd be concerned about adequate capital growth on that road. It is a very busy road. There is a lot of incidence of lots of people living in one house going on in that area - it is not uncommon to walk into a house and find that there are 3 Singapore Airlines student pilots living in each bedroom. Accordingly the kitchen and bathroom in particular get an absolute flogging which is not helpful to cashflow.
