Adelaide
- Thread starter BMan
- Start date
regionals are way to go then - Whyalla and Augusta
possible in north but unlikely
or interstate in QLD or NSW
won't get it in apartments due to strata (and bad investment too - but don't tell others who will grill me
) - there's actually someone on this forum from Adel who buys apartments neutral geared - forget his name though but bald head in picture.
possible in north but unlikely
or interstate in QLD or NSW
won't get it in apartments due to strata (and bad investment too - but don't tell others who will grill me
) - there's actually someone on this forum from Adel who buys apartments neutral geared - forget his name though but bald head in picture.won't get it in apartments due to strata (and bad investment too - but don't tell others who will grill me
Hi JWR,
I'd be interested in your thoughts on why apartments are a bad investment, not that I have any, but it's a bold statement
Cheers mate,
Jack
Should rephrase - bad compared to older houses with big land.
Houses with tiny land are still better than apartments unless you can get a great bargain on a unit with lots of depreciation.
In the city you may not have a choice - but I wouldn't invest in city units anyway due to yield.
Will own quite a few apartments but only after I've knocked my houses on them to develop on the big land.
Wouldn't rule out buying an apartment or two but only if the deal is more compelling than normal.
Houses with tiny land are still better than apartments unless you can get a great bargain on a unit with lots of depreciation.
In the city you may not have a choice - but I wouldn't invest in city units anyway due to yield.
Will own quite a few apartments but only after I've knocked my houses on them to develop on the big land.
Wouldn't rule out buying an apartment or two but only if the deal is more compelling than normal.
SA is a weird place to invest IMHO. Some of the suburbs are quite expensive compared to same type of place in Vic or QLd. Houses can be 30K away from city with crappy public transport and be way over priced with low rentals compared other states. Then you get some really good big blocks of land with reasonably priced solid houses closer to city where the same distance in Brisbane would cost you an arm and a leg for a timber framed.
You really have to do your homework in SA. I'm not familiar with regional areas but in Adelaide, for houses under $300k I'd be looking at coastal areas of Port Noarlunga south or Seaford. They are 30K out but there are some lovely larger blocks with solid houses or you could look at places north like parts of Woodville and surrounds which is very close to city and the area is starting to be be popular but is still reasonably priced.
For units around $300k stay very close to city, Unley, wayville, Kurralta park etc. Only look at the Small block of units, with large rooms, at least 2 bedrooms with carport at least. These rent very easily. check strata to ensure no large repairs looming.
You really have to do your homework in SA. I'm not familiar with regional areas but in Adelaide, for houses under $300k I'd be looking at coastal areas of Port Noarlunga south or Seaford. They are 30K out but there are some lovely larger blocks with solid houses or you could look at places north like parts of Woodville and surrounds which is very close to city and the area is starting to be be popular but is still reasonably priced.
For units around $300k stay very close to city, Unley, wayville, Kurralta park etc. Only look at the Small block of units, with large rooms, at least 2 bedrooms with carport at least. These rent very easily. check strata to ensure no large repairs looming.
My understanding is that Strata Corporation is what the body is called in some states (SA for sure) and Body Corporate is what it is called in QLd and possibly elsewhere.
In Each state the body comes under different Acts. You need to find the Acts (government passed legislation) and study carefully.
In Each state the body comes under different Acts. You need to find the Acts (government passed legislation) and study carefully.
Hi, there's one in Murraybridge, asking price around 230ish, sub-dividable.
The numbers work out the same as one I bought back in 06 in Blair Athol.
The reason I don't follow through on Murraybridge is that the property market in SA has flattened & dropped by around 10%
I would buy on these numbers in Blair Athol [only 6km from city & a hop & skip away from all that lovely development along Prospect Rd] or in Elizabeth near the shopping precinct.
I'm not sure I'd be able to sell a new house for $320K in Murraybridge.
But for someone new to property investment, the old house in Murraybridge is not likely to turn out a disaster or a dud. With good management, it may be a very good investment.
Btw, I saw it in the Saturday Advertiser.
Kum Yin
The numbers work out the same as one I bought back in 06 in Blair Athol.
The reason I don't follow through on Murraybridge is that the property market in SA has flattened & dropped by around 10%
I would buy on these numbers in Blair Athol [only 6km from city & a hop & skip away from all that lovely development along Prospect Rd] or in Elizabeth near the shopping precinct.
I'm not sure I'd be able to sell a new house for $320K in Murraybridge.
But for someone new to property investment, the old house in Murraybridge is not likely to turn out a disaster or a dud. With good management, it may be a very good investment.
Btw, I saw it in the Saturday Advertiser.
Kum Yin
I would look for a 2 bedder unit over apartment, a much smaller market of people looking for a 1 bedder, and 1 bedders would be willing to take on 2 bedders but not many would do vice versa. Unit over apartment as there is less chance of large repair bills. I agree with arriety, Kurralta Park, Wayville, Unley is a good place to look, have a colleague looking for what I'm suggesting in those areas. He will no doubt do well.
i posted something in here dont know where it went but ill type it out again
mainly been looking at apartments along the north tce
mostly 1 bedders tho
i found a 1 bedder and after all expenses its CF+ by about $10 a week
cant even find my bookmarks now... must of been dreaming about it...
looked at a few units close to the city and most are getting low yield and the appartments are getting alot more
i know the apartments will have lower CG
but theres no way to get a CF+ unit
im looking at a CF+ first off to help with serviceability and then hopefully be able to get another one more inclined to get some CG
mainly been looking at apartments along the north tce
mostly 1 bedders tho
i found a 1 bedder and after all expenses its CF+ by about $10 a week
cant even find my bookmarks now... must of been dreaming about it...
looked at a few units close to the city and most are getting low yield and the appartments are getting alot more
i know the apartments will have lower CG
but theres no way to get a CF+ unit
im looking at a CF+ first off to help with serviceability and then hopefully be able to get another one more inclined to get some CG
Used to be called body corporate in Victoria, but they wanted to be different and now call it Owners Corporations.
The Y-man
2 IPs
Hi,
I have recently purchased 2 more IPs. 1 each in Gilles Plains and Windsor Gardens for 250K each. Both of them are sub dividable blocks with rentable houses. The houses are 8-9 kms from the city.
Cheers
Hi,
I have recently purchased 2 more IPs. 1 each in Gilles Plains and Windsor Gardens for 250K each. Both of them are sub dividable blocks with rentable houses. The houses are 8-9 kms from the city.
Cheers
Good for you, Brijesh! The windsor Gds property sounds interesting. The streets near the linear park are better than those at the other end, as I'm sure you know.
The Murraybridge property has the advantage that the older property can be retained while creating a new block.
KY
The Murraybridge property has the advantage that the older property can be retained while creating a new block.
KY
Your quote sounds like you are looking at a purchasing a property from a company offering a "guaranteed rental return". If this is the case, the initial purchase price will likely be inflated to cover the cost of their guarantee, sales teams, advertising etc.
What is it that you like about these apartments? Proximity to the city? Have you considered locations which are going to be at / near future transport hubs (such as near the old Mitsubishi site or Castle Plaza, Edwardstown)?
C
