Adelaide - A crash course.

N

nhg

Hi!

Work just asked if I would like to work in adelaide for 6-8 months. Just enough time for a purchase and reno methinks.

I would be greatful for a crash course on the suburbs to get me started before I hit the ground.

Also where is a good spot for a mid 20's person to rent?

All input would be greatly appreciated. Now to start trolling through all threads.

:)
 
nhg said:
Hi!

Work just asked if I would like to work in adelaide for 6-8 months. Just enough time for a purchase and reno methinks.

I would be greatful for a crash course on the suburbs to get me started before I hit the ground.

Also where is a good spot for a mid 20's person to rent?

All input would be greatly appreciated. Now to start trolling through all threads.

:)
Click to expand...

What are you looking for in term or rent?

Good social life close by,

eastern suburbs around Norwood
More Beach glenelg, Henley, grange, semaphore.
If you like in the heart of CBD can have nice 2bedroom apt for <$400p/w
 
Brady said:
What are you looking for in term or rent?

Good social life close by,

eastern suburbs around Norwood
More Beach glenelg, Henley, grange, semaphore.
If you like in the heart of CBD can have nice 2bedroom apt for <$400p/w
Click to expand...

Lifestyle. Work covers rent.

Any more advice? Thats a great start.
 
How much will they cover p/w nhg?

Parkside/Unley if they are generous. :)

Are you into being near the beach? I'd consider Brighton also.
 
I lived in the Onkaparinga council area for years,Flagstaff Hill,Happy Valley,Aberfoyle park etc are all 10 minutes from the site.I would stay this side of the SE personally.
 
Terry_w said:
Just in time set up multiple trusts with no stamp duty and no vesting date...:D
Click to expand...

The first thing that came to mind ;)

Truth be told, I am only interested in going as a way to expand my portfolio outside NSW.

I'll be pushing to be in Queensland by New Years, this way I can push hard there too.
 
jim1964 said:
:eek::eek::eek: You mean the 1 way disaster
Click to expand...

No way in the world it could be worse than the project I am on now.

CJay said:
How much will they cover p/w nhg?
Click to expand...

Not too sure atm. Depends on how generous they feel and how hard I negotiate. Nothing is confirmed yet, just wanted to get a head start on locations to invest in. May be worth just buying a dump and fixing it up whilst im there. Any advice?


Will be sure to hit both of you up if/when I land in Adelaide :)
 
Really depends on what you're looking for. Adelaide has a bit of everything, whether you're chasing yield, CG reno inner suburbs. Got much info on budget, investment strategy etc?

If you come down, coming to an Adelaide Meet Up is definitely a good idea.
 
I go for CF+ or neutral, with possibility of CG. Then again, don't we all :p

I can/have done reno work, can do it all other than the structural. Or can focus on subdivision (a field I'd like to move into).

As for budget, serviceability is pretty sweet, as id deposit. Though till now i have aimed for <$350k projects.

From my last couple of trips in Adelaide, I thought the returns weren't that great? Which suburbs have good returns?
 
Are you ok with being a slumlord? If so you can get 8-10% yields depending on your luck/skills/whats available. It won't be the nicest of suburbs though, good potential though.

Adelaide is pretty well known for it's cash flow returns.

I don't follow South very strongly, but Northwise you can find some of the best yields in the Playford council. Elizabeth, Smithfield, Davoren Park etc. Munno Para can have decent yields too. New builds not so much.

Salisbury, Paralowie, Para Hills you can get 6-7% yields if you buy well, possibly more if you get a bargain and do a reno-job.

Going south of Grand Junction Rd gives you Kilburn, Northfield, Enfield areas. That will be in your 300k range, the area is seeing considerable development and emerging as an area. Prices have already risen significantly around there however, so it's priced in already IMHO.

Eastern suburbs are arguably up there with some of the best in Adelaide. Not well known for yield. Get something with potential for reno however and you can do extremely well - seen this done many times.

None of this is exactly near your work however.

I should think a unit in a premium beach area with reno potential could get you a neutral yield and CG potential.
 
nhg said:
I go for CF+ or neutral, with possibility of CG. Then again, don't we all :p

I can/have done reno work, can do it all other than the structural. Or can focus on subdivision (a field I'd like to move into).

As for budget, serviceability is pretty sweet, as id deposit. Though till now i have aimed for <$350k projects.

From my last couple of trips in Adelaide, I thought the returns weren't that great? Which suburbs have good returns?
Click to expand...

Sounds like the onkaparinga shire (hackham west, christie downs, christies beach) area would be good for you. Bit of stigma, but beach close by, uni/hospital/shops all close enough, express way coming (that you would be working on) you can buy well in the area <$300k easily. Renovate and would be CF+ with good chances on CG... and most are large enough blocks that could see some sud-division possibilities in the future.

Would be nice to pick up a house like this http://www.realestate.com.au/property-house-sa-morphett+vale-113467563
(note that its an affordable homes sale, have to wait a month before available to public if you dont qualify... doesn't happen too often)
But example of property available. House would rent at ~$285p/w which would have it ~CF neutral
 
Last edited:
nhg said:
I would be working on the Southern Expressway.
Click to expand...

You may have just answered your own question as to where to invest.
When the original Southern Expressway opened,houses down south had a massive increase in prices.Makes you wonder what will happen now it will run both ways. :rolleyes:
 
Thanks for the tips guys and gals! I'll look into it next week or so and will be back with more questions im sure :p hope you dont mind.

Tambourineman ill PM you.
 
Place to rent

Hi, for someone in the mid twenties you couldn't beat Glenelg, Somerton Park or Glenelg North. Good pubs, restaurants, great beaches etc etc. Eastern suburbs are ok just but you can only walk down Norwood Parade so many times. That's why on weekends they go to Glenelg.
 
You must log in or register to reply here.

Similar threads

A
Adelaide suburbs of interest and infrastructure
Replies
10
Views
3K
D.T.
D.T.
see_change
Adelaide suburban equivalents
3 4 5
Replies
84
Views
12K
Brady
Brady
M
Brisbane advice please - subdividable areas?
Replies
2
Views
1K
RPI
RPI
T
Questions about Brisbane / Adelaide market
Replies
15
Views
3K
datto
datto
Erica
Southern Adelaide investors- market update please
2
Replies
28
Views
5K
Nemo30
N
Back
Top