Page 21 - V3 TOGA_CX Presentation

1. LOCAL CONNECTION
Of course it’s all about location. But when I am buying a place, I look for a location that I am familiar with, have a connection to, and know or understand. I may even sacrifice size and space for my ideal postcode. Proximity to amenities is important and even more so for investment because it makes it more rentable.
“They had the display in a nice location from the water. So it was quite good. I usually invest in a location that's close to me.”
“Yeah. So firstly, I know the Macquarie Park area very well. Because I've worked in Macquarie Park on and off for many years. I always wanted to have the investment property in the Macquarie Park area. And I thought, "I know Balmain. It's a risk, because it's off the plain and you can't see it, but it's Balmain, it looks like it's going to be really nice. The worst that could happen is I've got to sell it. And if I sell it and don't make any money, oh, well. If I got my money back, that would be okay." So I just sort of trusted the area.”
“Okay. Yeah, the thing is that I do live here and I know this area very well. And although there's a saying that put your eggs in more than one basket, to me, I'm the opposite of that, because to go elsewhere, I have to follow someone else's advice. And it's gonna be a little bit of a hit and miss. There's a chance. Because even the most top areas, there's areas you shouldn't touch within that area. I guess I felt comfortable in this area, knowing which location is a good location within the area. So, I bought. Otherwise, I've got mine going up, but I've gotta be sure and comfortable that, yeah, I live in this area. And I've invested here, and there's the train stations and everything that's going on. I thought it's a good place to invest.”
“But I want to look at location first, because I think all these things in cities will double. It's just a matter of if the bank gives you the money or you can afford it.”
“Having one level. I guess I was sort of short on choice anyway because I wanted one level. I wanted to be in this area. So it either had to be Balmain, East Balmain or Birchgrove. And there's nothing there, nothing available. And so then I had either this to pick from or the smaller one, which didn't have ... which had the laundry in the kitchen and it was just quite a bit smaller. But I want to look at location first, because I think all these things in cities will double. It's just a matter of if the bank gives you the money or you can afford it.”
“I liked the area it was in and because it was close to my parents who lived there it was an important factor in our decision making process.”
“We just always had our eye on inner west, in particular. But Balmain specifically. So when the opportunity came up, we pretty much just jumped on it.”
Commercial in confidence
25