No I haven't - what are they about?
(Can't tonight though - got free tickets to the Die Hard 4 premier)
Enjoy..have fun
Elizabeth, North Adelaide, SA
- Thread starter orcades
- Start date
Enjoy..have fun
Just on the Elizabeth area, how easy / hard has it been to have properties tenanted ? I've just settled on mine and the PM says its very quiet because
of winter. Are other investors hearing the same thing ?
Thanks.
of winter. Are other investors hearing the same thing ?
Thanks.
Have you got an old or new IP? My new ones I had tennanted very quickly without hassle day after settlement. My old one came with tennants, so I can't really comment.
Hi Steve
Mine is old but I had it done up inside - polished floors, reverse cycle air con etc. 3 bedroom semi with garage and car port at $160 pw. Just not many renters out there or people reluctant to change given the weather, is what my PM says.
Mine is old but I had it done up inside - polished floors, reverse cycle air con etc. 3 bedroom semi with garage and car port at $160 pw. Just not many renters out there or people reluctant to change given the weather, is what my PM says.
Just got myself a report on sales in a couple of my areas, and looks like prices have definitely gone up recently.
One example of a house in Elizabeth North that sold in Feb for $135k, and just sold in June again for $155k.
Semi's are steadily increasing - now usually around the $140k+ mark in June. Still analysing data as I literally got the report 45 mins ago
I havent bought one, but I just missed out on one the other day. $180k, $220 per week rent, pretty good condition on 836m. I called up at midday on the day it listed, and it had gone under contract earlier that morning. There are not many like this under 200k anymore, and they are snapped up very quickly.
Cheers
By the looks of it, there are also a few properties that are being sold without having listed at all. Whether it be private sale, or marketed through an agent to their existing client base...?
Hi everyone,
Just bought a property in Davoren Park today, 3x1 on 836 m2 (sight unseen) for 145K. According to the agent, it needed a lot of TLC.
I'm planning to go there next month to do the final inspection, hopefully it wont be as bad as the agent makes it out to be!!
Has anyone had any good/bad knowledge about Dav Park? The property I bought was 7 Cummins Street? Any insider's knowledge would be much appreciated.
Happy hunting.
Just bought a property in Davoren Park today, 3x1 on 836 m2 (sight unseen) for 145K. According to the agent, it needed a lot of TLC.
I'm planning to go there next month to do the final inspection, hopefully it wont be as bad as the agent makes it out to be!!
Has anyone had any good/bad knowledge about Dav Park? The property I bought was 7 Cummins Street? Any insider's knowledge would be much appreciated.
Happy hunting.
At the recent SIG meeting, Peter advised to stick to inner suburbs hence didn't have the far out places on his Top 10 list. The medians that are quoted are unfortunately historical data and Adelaide sure has moved in the last 12 months. You will find that these suburbs on the list are very light on in terms of listings and am finding its anywhere from $50 - $100k over the median for anything worth buying. You'd get yourself an awesome block of dirt but as usual the ole sub 4% gross yield factor kind a sux especially when rates are now nearly double that and I thats before taking into account IP expenses.
Prakman,
Sounds like you did alright, although it would be handy to know how much you're going to have to spend on the place to make it rentable?
If you assume price of $145k + $4k costs and then throw another $6k on for repairs (?) - you've paid $155k for two blocks of land that can be developed further down the track.
The property looks good - it has a good land content, over 20m forntage which means you can cut it into 2 seperate blocks and have 2 individual houses which is also a plus. It is further away from the Western side of DP (the dark side
), and closer to the new developments on the Eastern side.As I said, it depends on how much the repairs will be, but these also sold in and around you're street for comparison:
- 4 Cummins St. on 31/5/07 for $146k - 826m2
- 10 Cummins St. on 31/5/07 for $165k - 720m2
- 7 Dunbar St. on 28/6/07 for $162k - 611m2
- 4 Rosewarne Crs. on 5/7/07 for $160k - 798m2
Hi Steve,
Thanks for the information, much appreciated. I did buy the property based on the agents information and say so. Before any one shoots me down, I have to say that I say bought two properties off her before and she has been excellent. After your input, I can sleep better now!!
At the moment, I am looking to purchase as many as possible in the Elizabeth area under 180K with duplex potential. It seems that I am constantly out-bidded by my fellow investors here.
Hopefully the prices keep rising and everyone keeps making a nice buck.
Happy investing.
Thanks for the information, much appreciated. I did buy the property based on the agents information and say so. Before any one shoots me down, I have to say that I say bought two properties off her before and she has been excellent. After your input, I can sleep better now!!
At the moment, I am looking to purchase as many as possible in the Elizabeth area under 180K with duplex potential. It seems that I am constantly out-bidded by my fellow investors here.
Hopefully the prices keep rising and everyone keeps making a nice buck.
Happy investing.
Prakman, I like that idea myself, but looks like we're coming to the end of that price range perhaps? Just did a search on DP, S/SP, and the Elizabeth's for under $180k and came up with 74 older property listings.
Out of the 74 that came up, 50 are "Under Contract" and 6 of the remaining were Semi's which personally I don't like for development purposes - leaving a grand total of 18 at the moment (most listed for $179k). I see quite a few properties are being sold without ever having been listed.
Out of the 74 that came up, 50 are "Under Contract" and 6 of the remaining were Semi's which personally I don't like for development purposes - leaving a grand total of 18 at the moment (most listed for $179k). I see quite a few properties are being sold without ever having been listed.
Looks like everyone's lappin up a fair bit of prime property in SA...:-(
As stated b4 I've got approx $250K maybe 300K that I can borrow. Given this is the case I want to get my 2nd IP looking for good capital growth, SA seems to be good but from what I read the cost in SA will soon be out of my league. Given this is the case would you guys recommend that I start looking a units in my own backyard - Sydney. I think I might be able to get 1 br or studios for his cost in some of the close to CBD suburbs.
Can I please get some advise on this...timing is always critical so I would really appreciate your prof opinions.
Cheers
Trev
As stated b4 I've got approx $250K maybe 300K that I can borrow. Given this is the case I want to get my 2nd IP looking for good capital growth, SA seems to be good but from what I read the cost in SA will soon be out of my league. Given this is the case would you guys recommend that I start looking a units in my own backyard - Sydney. I think I might be able to get 1 br or studios for his cost in some of the close to CBD suburbs.
Can I please get some advise on this...timing is always critical so I would really appreciate your prof opinions.
Cheers
Trev
Hi Trev,
Whatever you buy, make sure that it's got a very healthy land content. Remember it's LAND that appreciates, while the BUILDING gives you an income.
Try looking around the Elizabeth area and buy yourself a nice 3x1 house on a descent size block and you won't go too far wrong.
Happy hunting.
Whatever you buy, make sure that it's got a very healthy land content. Remember it's LAND that appreciates, while the BUILDING gives you an income.
Try looking around the Elizabeth area and buy yourself a nice 3x1 house on a descent size block and you won't go too far wrong.
Happy hunting.
Trev, would'nt that make now a good time to buy in SA - before it's gone up and out of your league?
(not necessarily advising you to buy in SA, just found your comment interesting)Lol...Lol
Ha!!! Ha!!! Nice one... lol
I was hoping for some advise to stay in Sydney or shop in SA - maybe Elizabeth, is there any good evidence as to why this area is going to boom, council plans etc. If I can get some websites for me to read up I'll really appreciate it. I dont plan to jump into this blindly and was just wanting some guidance and someone to point me to some resources where I can make my own judgement.
But saying that Steve...now that I read my post I think its funny too...silly me
Ha!!! Ha!!! Nice one... lol
I was hoping for some advise to stay in Sydney or shop in SA - maybe Elizabeth, is there any good evidence as to why this area is going to boom, council plans etc. If I can get some websites for me to read up I'll really appreciate it. I dont plan to jump into this blindly and was just wanting some guidance and someone to point me to some resources where I can make my own judgement.
But saying that Steve...now that I read my post I think its funny too...silly me
Hi Dedfred,
I am also looking at Adelaide for next IP. However I am not looking for hard evidence. If I wanted that then I dont think I would ever buy ever... I do some research, then more research, use past indicators and look into trends to help me evaluate decisions.
There is a saying, I dont know who said it but I read it somewhere and remembered it.
"He/she who takes risks, drinks wine"
Anyway let me know how you go.... My problem is that because I am not familiar with adelaide at all I wouldnt have a clue where to buy in adelaide.
Goodluck DedFred
I am also looking at Adelaide for next IP. However I am not looking for hard evidence. If I wanted that then I dont think I would ever buy ever... I do some research, then more research, use past indicators and look into trends to help me evaluate decisions.
There is a saying, I dont know who said it but I read it somewhere and remembered it.
"He/she who takes risks, drinks wine"
Anyway let me know how you go.... My problem is that because I am not familiar with adelaide at all I wouldnt have a clue where to buy in adelaide.
Goodluck DedFred
