VIC Whittington & Newcomb (Near Geelong)

Given we're talking Whittington and Newcomb, this place here at 15 Barnfather St might be the cheapest way to get 600m2+ within 2.5 K's to the CBD. It is an old 50's type 2-bedroom house, but this is in Thomson, and is just a few hundred metres away from some of the $600K type places in East Geelong.

15 Barnfather Street, Thomson, Vic 3219 - View Sold History & Research Property Values - realestate.com.au

However the only thing would be that as an I.P the rental return would be quite low, but the land appreciation would be potentially very good....if this land was West or due East, it would be valued at a lot more.

 

its a very good location. the actual house looks like a shack or something, maybe brick would be better . cause you would have to renovate or knock it over if u want to make it nicer i guess. what do you think?

 

Not saying you have to buy old dump....but as an option you can buy existing on bigger land component, and then do some renovation (or engage traides to do some reno) to make it new before moving in. If you do the renovation well, there may even be some equity that you can potentially pull which can go towards the next IP.