Beware of Melbourne property - know the market
Written on the 8 April 2016 by James CagneyI recently had the pleasure of attending an event in Melbourne put on by four well respected finance and real estate specialists called the "The 2 day Real Estate Investing Fast Track". These are home grown boys who have lived in Melbourne for many years and understand the physche and the demographics of Melbournites. I have learned that no matter how much research you do you can't beat experienced local knowledge.
The program started on Saturday morning in South Yarra. The day mostly covered the financial aspects of investing in property. Even though I have a qualification in Finance and Mortgage Broking I learned a great deal about getting the structuring of your property portfolio correct from the start. It is costly to have to go back and change things after you have purchased. I also learned how to better my chances for obtaining mortgage loans when the bank has said "NO". This was an eye opener for me. They gave us a brief explanation about the Melbourne property market, which was backed up with research and a promise to show us more on the Sunday.On the Sunday the organizer's took us on a bus trip around several suburbs in Melbourne. This experience was confirmation that the seminar presenters thoroughly knew their subject. Many of the attendees were residents from Melbourne and they were all impressed with what was shown to us. We inspected property sites in the inner- middle suburbs of Melbourne which were at different stages of construction. These were reasonably priced low rise units in excellent locations which will give you excellent capital growth. These properties are not for those prospective purchasers who are solely looking for 5% plus rental yields because of the higher prices of property so close to the city. The demographic for these properties is up and coming younger renters who want more spacious units, open spaces and did not want to live in the city cent re. Public transport, good schools and shops were nearby in each location.
There is a case for purchasing investment property in the outer suburbs of Melbourne because of the lower cost of entry. The rental yield will be higher and 5% plus returns are not uncommon. However, you cannot expect the same capital growth that you will get in the inner-middle suburbs of Melbourne. if you want to increase your property portfolio you need capital growth. If you want more information about these suburbs please click >>>> HERE .I would highly recommend you book for one of this information weekends. Not only will you learn about the Melbourne property market from the local experts, you will also learn a great deal about financing for your future property portfolio. The next weekend event is on the Saturday 7th & Sunday 8th May 2016. It will be well worth your time and effort to attend even if you are living in Melbourne and believe you know the market. Book NOW because there are limited spaces on the bus and they do need to cater for the two days.
The whole weekend usually cost $97 and their are numerous bonuses worth hundreds of dollars. The organizer's have agreed to waive the registration fee for all those who register through James. Yes the weekend is FREE so register >>>>> HERE . They can only take 40 people on the bus so get in quick. As an additional BONUS you get a video copy of the first day information session and a copy of all the slides. The 1st day is so jam packed you are going to have to go over the information a few times to collect all the gems that you need for your property education. One of the presenters gave away a copy of his latest book: "Australian Property Finance Made Simple" worth $32.95 to all attendees as well as copies of previous webinars that he has presented regarding finance and property. I have been through this material and it is highly informative and definitely something I will keep and refer to many times. To top it all the Sunday afternoon is spent having lunch at a top class restaurant and networking with the organizer's and attendees. All this was included in the $97 I paid and you get it FREE. I am going to attend another "2 day Real Estate investing Fast Track" event again because there is so much I still can still learn during the two days.
Author: James Cagney