在澳大利亚 is this a dumb strategy? Buy 20+ or as many properties in average+ areas which are cashflow neutral or just positive with low to average vacancy rates, or as many as i can afford Save as much $$$ for a buffer Wait 10 years, then on the assum I am interested to find other peoples ideas on my present situation regarding a renewal of a lease for our PPOR in Cairns. The house has been continually leased, through a PM, to the same tenants while we have been living overseas. The lease
What do you guys think of buying in estates... for instance mernda on the outer suburbs of melbourne you can get a house and land for 330k.. do you think it would be smart to buy and rent for 20 + years?? or do you think people will never want to buy into these mcmansion start up towns
Why do you want to buy there?
bowler said: ↑
What do you guys think of buying in estates... for instance mernda on the outer suburbs of melbourne you can get a house and land for 330k.. do you think it would be smart to buy and rent for 20 + years?? or do you think people will never want to buy into these mcmansion start up townsClick to expand...What sort of jobs can people get out that way? What industry is around? I don't see the growth north as sustainable in the short term. Travel times to the city will just get worse and worse. The roads there arnt up to it, still country. If young people renting there work in the city in professional jobs they will soon earn enough to move closer. What about the people who can't afford to move? Where will they work? West or South East
Is there much work around broadmeadows/cambellfield?
I would go for Frankston same distance to the city, an established area with plenty of work.
The growth around Melbourne is getting ridiculous and the gov know it. That's why their starting to pump money into places like Dandenong, Frankston which will become more and more like small cities.
If you want to go that way why not look in other towns and try and find a bit of land that you can subdivide into a few blocks. Most of your estate style housing is under 600 Sqm anyway. In 20 years your McMansion will be mcrubbish anyway. Why pay developers a premium for a new house?
Why not look in Brisbane or Adelaide. Plenty of houses close to CBD there that are in your price range and will get better growth long term