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Weekly Slice 272: $680k Property in Melbourne Is it a Deal or No Deal? -with Simon Loo & Todd Sloan
Episode Description
$680k Property in Melbourne Is it a Deal or No Deal?
In this episode of our property investment podcast, Todd Sloan and Simon Loo dive into a unique "Deal or No Deal" scenario with Eli, a 28 year old Sydney investor. Eli brings a property deal to the table, seeking expert advice on whether it's a smart move for his long-term goals and passive income strategy.
They examine a development site in Victoria, with approved plans for three dwellings. While the location shows potential, the property comes with risks, including high renovation costs, potential financial strain, and red flags around the sale history. Todd and Simon break down the numbers and discuss the pitfalls of chasing quick development gains in lower value suburbs.
The discussion highlights key lessons for property investors: question why a property is being sold, be cautious with development approvals, and prioritise standalone houses to build a solid, long-term portfolio. Whether you're a beginner or seasoned investor, this episode provides practical advice for making informed investment decisions.
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