How to start your own Melbourne property investment fund
It’s a common strategy, but one that could be costly for most.
Melbourne’s property market is notoriously volatile, and as such, many of its properties are either on the market or in the process of being sold.
Melbournia is one of the largest and most well-known Melbourne property markets, and it is the only major city that has an asset valuation model that is not based on the price of the underlying land, which can often cause significant price volatility.
But it’s not just property prices that can cause problems in a market like this.
A recent study by property consultancy Melbourne revealed that property consultants, who are often key players in the market, are being paid well above market rates.
Melburnians who want to buy a property in Melbourne can pay upwards of $30,000 per month for their property.
That is a huge amount of money for someone who is looking to save for their first home.
Melberton’s property consultants are earning $400,000 a year, but some of these salaries can be even higher, with many working for $1 million a year or more.
Melborough Property Partners, one of Melbourne’s leading property consultants who is also the founder of the Melburnian Real Estate Council, told Axios that it has been difficult to attract investment into the property market.
“The market is very volatile, it’s one of those areas where it is a bit of a risk.
There is a lot of pressure on people to make their investment decisions and we have to keep people on the right side of the law, in terms of taking on risks,” said Melborough’s chief executive, Richard McBride.”
In Melbourne, we have an asset valuations model that we are very keen on.”
Melbourne property consultants tend to specialize in the most desirable properties in Melbourne, so the industry has become very well-equipped to take on risks in the property markets.
Melborne Property Partners chief executive John MacLean, who is one half of the family business, said the market has become so well-suited to the risk that many people are taking.
“We have got a great asset valuation team that has built up a good portfolio of properties that are on the up, which are now being bought up,” he said.
Melbon Property Partners’ John Maclean said he had not been approached by any investors for the past five years.
Melborrow Property Partners CEO John McQuaid said that in recent years, there has been an influx of people coming into the market who are looking for lower-cost properties.
“I think that the industry is becoming more savvy about the risks that they are taking,” he explained.
“If you look at the portfolio, we’ve got properties on the top of the heap that are very low-cost, but we’ve also got properties that have been bought up by large overseas companies and have had the benefit of the market not being as volatile.”
But it is not just properties that can get in the way of a successful property investment.
Some people may have problems with their insurance company or their mortgage lender, as well as their landlords.
Melwood Property Partners was recently approached by a landlord who was struggling to get his property approved by the City of Melbourne for the first time, and he said the problem was not with the property itself, but with his insurance company.
“When you start thinking about your mortgage, you’re looking at all the variables and your options are limited.
And if your property is on the wrong side of that, you can’t get that property approved,” he told Axio.”
There’s been a real problem with the insurance industry in Melbourne.”
Melwood’s Chief Executive, John MacKean, said that his company has been working with local authorities to make sure they have all the information they need to approve the properties they have chosen for investment.
Melvins Property Partners head of sales, Robby Scott, said he believes Melbourne is a great place to start building a property portfolio.
“It’s a great market, it has a great property market and it’s got a very low level of risk, so people can just take on the risk and do the right thing,” he added.
“Melbourne is such a great city to live in, it can really be a very successful city for people.
People just want to be in a place where they can make money.”