What to invest in Melbourne

Discussion in 'What to buy' started by zaobaowang, 12th Jul, 2019.

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  1. zaobaowang

    zaobaowang Well-Known Member

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    If you have 2m, and can borrow up to 1.5m,

    what's your property strategy in Vic?

    For example, a block of units in Elwood? My friend's brother and his partner are in their 40s and with a PPOR paid off and no kids. My friend suggested either a decent property in blue chip suburbs or 5 properties in suburbs with CG potential and acceptable yield. I would have thought a block of units with good yields and the potential to be converted to strata titles and close to the city would be a better choice.
     
    zaobaowang, 12th Jul, 2019
    #1
  2. The Y-man

    The Y-man Moderator Staff Member

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    I would have thought (not that I have looked much in Melb) un-strata'd blocks in Melb would be that common these days..... seemed to be heaps in Bris and surrounds when we were looking at one stage....

    The Y-man
     
    Last edited: 12th Jul, 2019
    The Y-man, 12th Jul, 2019
    #2
  3. zaobaowang

    zaobaowang Well-Known Member

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    Oh really? What would you invest in this case then? Thanks.
     
    zaobaowang, 12th Jul, 2019
    #3
  4. The Y-man

    The Y-man Moderator Staff Member

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    Sorry - stuffed that post up when I was typing - I have fixed now but was meant to say I thought it was quite hard to find blocks without that weren't strata already.

    if you can find one, then I agree can be quite a good investment.

    The Y-man
     
    The Y-man, 12th Jul, 2019
    #4
  5. jazzsidana

    jazzsidana Well-Known Member

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    Impossible to answer this one without understanding full picture and overall goal/strategy..

    Cheers,
     
    jazzsidana, 13th Jul, 2019
    #5
    John_BridgeToBricks likes this.
  6. Paul Mete

    Paul Mete Well-Known Member

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    It is a very good time in Melbourne to be cashed up and ready to invest.
    Your goals will determine your best options but market conditions are now optimum for development by the eventual owner.
    If your aim is to hold the properties then using property development as a means of obtaining property could yield you an immediate profit and setting up long term gains.
    Within 2 years, if you play your cards right you may be able to turn the $3.5m into 4.5m at low risk then the properties can simply keep working for you over time from that inflated starting point.

    There are many different ways to profit but right now in Melbourne the conditions favor development by the eventual owner.

    There is till opportunities for development for sale and profit but current conditions do not favor this option so strongly.
     
    Paul Mete, 17th Jul, 2019
    #6
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