Where would you invest $250K - $350K?

Discussion in 'Where to Buy' started by mercthunder, 8th Feb, 2017.

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  1. Cmelderis

    Cmelderis Well-Known Member

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    @sash would you put your money in Kurri Kurri or Metford? Hospital and train are pushing me towards Metford but Kurri Kurri has the TAFE and appears to have a nice sense of community? FYI I am looking for under 350k hence zoning in on these two areas
     
    Cmelderis, 13th Jun, 2018
    #41
  2. MichaelGarland

    MichaelGarland Well-Known Member

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    I'm 31 and own nothing now .mortgage broker says I can borrow $350,000 max for a PPOR and recommended that or $400,000 investment at 95% lvr . Looked at Frankston north and maybe outside price range . Looked at block of land in Mambourin but can't afford to build on if I bought . So a 2/3 bed unit in hoppers crossing would be good or something in Corio ? I'm not sure a the moment because it looks like everything is slowing down at the moment so might be better to wait 1 year or more thanks .
     
    MichaelGarland, 13th Jun, 2018
    #42
  3. Westie

    Westie Well-Known Member

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    There could still be stuff in the $350k mark in the Geelong area (that's not in Corio or Norlane) if you can sink in some money for a quick reno. Melton West is still possible too. Don't do Mambourin, why would a renter live that far off from amenities? They say it's got a proposed train station, who knows when it may happen.
     
    Westie, 13th Jun, 2018
    #43
  4. sash

    sash Well-Known Member

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    I already have one there...some more growth...I bought mine in Tenambit for 205k.
     
    sash, 13th Jun, 2018
    #44
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  5. Cmelderis

    Cmelderis Well-Known Member

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    Yes I had seen you own in Tenambit, was just wondering what your views are on kurri kurri vs metford...if you be so kinf as to give me your thoughts ;)
     
    Cmelderis, 13th Jun, 2018
    #45
  6. sash

    sash Well-Known Member

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    I think Metford non rough areas will do well. People who work in hospitals are well oaid and do some rudiculous shifts so they will look for something closeby
     
    sash, 13th Jun, 2018
    #46
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  7. JohnPropChat

    JohnPropChat Well-Known Member

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    Melbourne is peaking, you sure you want to jump in this late in the cycle? I would either wait (which could be a while for correction in Melbourne) or buy where it already corrected and going for bargain? I am betting my money on Perth at the moment.
     
    JohnPropChat, 17th Jun, 2018
    #47
  8. David Shih

    David Shih Mortgage Broker Business Member

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    If your budget is around $400K I would personally go for Moreton Bay area if you do wanna invest now. You can still get something around Strathpine/Lawnton/Bray Park area for that budget, may require some small cosmetic reno but that's where I would go. Gross yield would also be better than Melbourne/Geelong in general so will be easier to hold long term.

    Cheers,
    David
     
    David Shih, 17th Jun, 2018
    #48
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