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Hi again D.T., I am looking to retire in about 20 years time with at least 4-5 properties owned outright so that I can live comfortably on rents if I wanted to. I have seen a mortgage broker and found out that I am able to borrow up to $600k given my current circumstances. I certainly don't...

Properties at $450k or below would be most ideal however if the rental yield is fairly high, the house is sitting on a large block of land with room for development in the future, AND doesn't require any further renovations in order to have it tenanted immediately then I wouldn't mind paying up...

Cheers for the tips guys. I'll be making time to go to auctions and inspections every weekend after work :)

Yes, only because there was a possibility of increasing the rent to $550 as of January next year with same good tenants. So I figured if I buy it at $550k then that would suit me just right. I will start my hunt in the other compass directions this week.

These residex Valuation reports sound handy! Can anyone get access to them or does it have to go through you?

The place is tenanted at $515 pw with very good tenants who have expressed that they would like to stay. However, I'm sticking to $550k as paying above $600k is too much IMO and doesn't leave much room for growth + more risks associated.

There were a lot of people at the auction but I made the opening bid of $500,000 and no one else followed so the REA bidded on behalf of the vendor at $590,000. This was beyond my limit so I didn't make a higher bid as it was still at $25k increments at the time so the property was passed in...

Hi. I posted the link earlier in this thread. Page 2 I believe?

I went to an auction today in Richmond as a registered bidder and didn't notice any plane noise at all. Maybe I wasn't there long enough as the auction finished quite quickly. Perhaps I may see you at an auction in Richmond or surrounding suburbs one of these days as I'm in the market to buy...

Prior to a few days ago, I've never looked at real estate/property investment at all in my life so this literally is my "first toe dip in the water". I'm not looking to be spoon fed - I'm sure in a few years I'll look back at my old posts and facepalm myself at some of the things I've asked at...

What are everyone's thoughts on houses in suburbs near the Adelaide airport? Is it too noisy? What are your favourite suburbs when it comes to hunting for investment properties?

Good point, D.T. Hrmm assuming that the property will go well over 500k, being quite negatively geared may bring me further away from #2 IP. It will also be way above the median price for houses in that area. SQM Research shows houses in Richmond in the last 5 years haven't gone up which...

Great idea. Looks like most decent 3 bedders are asking between $400-480. There's a 5 bedder asking for $600 pw. So from these numbers reckon I'd be able to get at least $500-$550 pw for this 5 bedroom home? If this is true then I wouldn't mind paying good money for it at this auction!

I have thought about this too and it is one of the cons of houses in this area. Where else would one usually look in Adelaide for similar houses with that sort of land area close to the CBD between $400-500k?

Cheers mate!! 1.5% vacancy rate. Seems pretty good?

It will certainly sell for well over $500k. I believe the potential it has will bring me closer to my goals. Totally relying on capital growth here. My first thought was to get 2 properties at around $300-350k each. But I wouldn't mind owning just one really decent property rather than 2 average...

All great questions! My interest in this property purely comes from the belief that it has CG potential being a corner block house on large land that's very close to the CBD. I think there's potential to subdivide? What do you think? If I do secure this purchase, I'm hoping to be able to have...

Yes, I am aware that it will be more than $450k. I'm willing to pay more than my current budget as it seems to tick all of the other boxes in my criteria. I'm just a bit concerned about the rental yield though as I believe I'll have to put in a couple of hundred per week (when it's tenanted) to...