Easy decision to spend his super at home
DESPITE considering an investment property interstate, Melburnian Tony Marsan ended up buying in Reservoir.
“I was looking to buy an investment property with my super fund,” Mr Marsan said.
“The company I was going through first came to me with a property in Queensland.”
Mr Marsan said while the company presented him with plenty of information and projections for the property, the Sunshine State wasn’t for him.
“I just wasn’t comfortable with it,” Mr Marsan said. “I don’t know the Queensland market, I’m not reading the local papers every day and I wasn’t comfortable putting my money in an unknown market.”
The company then came back to him with a property located 25km from Adelaide.
“Again it just didn’t sit comfortably with me,” Mr Marsan said. “So I said to them I wanted to look at properties in Melbourne.”
That’s when Mr Marsan contacted Advantage Property Consulting director Frank Valentic about investing locally.
“Frank agreed with me that it was a good option to invest in an area I was familiar with,” Mr Marsan said.
“He said there were areas of Melbourne where there was going to be plenty of growth.
“After Frank had showed me a number of properties I knew the Reservoir townhouse was what I was after.”
Mr Marsan had one piece of advice for other investors : buy where you know.
“I absolutely think you should buy in a market you know, where you feel comfortable,” he said.