First Timer & need advice

[Invest4life]

Sorry if this is one of those threads that just keeps coming up - if it is, can someone please direct me to recent threads that can assist me. I am about to 'dip my toe' into the IP market and although I have received some fabulous advice from several experienced, multiple investors (several of which put me onto the Jan Somers selection of books) I woud welcome any and all feedback from those already in the market.
I have reasonable equity in my home and am pre-approved for a fairly healthy sum but rather than 'just go shopping' I am prepared to do a lot more research. I am looking at investing in SA at present and have identified three areas - Port Augusta, Murray Bridge and Aldinga/ Port Willunga.This is based on future development already planned and approved by council and the latter as a 'sea change' area - approx 1 hour south of Adelaide.
All three areas are showing significant growth, but as a novice I woud appreciate any feedback. I have noted many on here talking about Elizabeth, Davoren Park, Craigmore etc etc. I know that many intersate (esp WA and NSW folk) are looking/ purchasing in these areas. I had vaguely considered Davoren Pk but not the other areas.
Any info or threads to check out would be appreciated.
Thanks.

 

[TheCamel]

invest4life, there are a number of threads on the "where to buy" section about Adelaide...

 

[willair]

Any info or threads to check out would be appreciated.
Thanks.

Welcome to the forum,i know nothing about SA real estate but if you spend
the time and do a search on the areas you intend to invest in this site
at least you will be75% ahead of anyone starting out ithe same Boat..
imho you may well see the same rapid growth in prices in Adelaide
as we have seen in SEQ,over the past 6 years it sure still seems cheap
for some of those inner city stone houses in Adelaide compared to
anything on the east coast..willair..

 

[steveadl]

You'll have to work fast and hard to get a place up North at the moment. I'm trying to secure a deal for someone as we speak, and it's extremely hard. 90%+ is Under Contract, including the ones that don't say it.

You're picking a good time to get into SA RE, like the others mentioned - check out the Where to Buy forum for a few useful threads, and throw any questions you have out there and you'll get answers. I think down South at Aldinga, Christies Beach, Port Willunga etc. would be a good buy at the moment as well depending on the indvidual deal.

 

[Invest4life]

Thanks for the responses - I shall go to the 'Where to Buy" threads. I have organised an agent to show me thru several properties at Murray Bridge next Saturday. I have read a lot here today and feel rather out of my depth and very much a novice. I know we all have to start somewhere. Are there any external courses/ reading material the more experienced people here can recommend that can bring me up to speed?
Your help would really be appreciated.
thanks,
I4L. aka Karen.

 

[firstmillion]

Thanks for the responses - I shall go to the 'Where to Buy" threads. I have organised an agent to show me thru several properties at Murray Bridge next Saturday. I have read a lot here today and feel rather out of my depth and very much a novice. I know we all have to start somewhere. Are there any external courses/ reading material the more experienced people here can recommend that can bring me up to speed?
Your help would really be appreciated.
thanks,
I4L. aka Karen.

Hi Karen,

There is a very good thread by Steve. He is one guy so passionate about Adelaide. (Sometimes I don't like him, he is attracting too many people to buy in Adelaide )

Here's the thread : http://www.somersoft.com/forums/showthread.php?t=31919

One on Roxby Downs : http://www.somersoft.com/forums/showthread.php?t=33144

Another one by Steve : http://www.somersoft.com/forums/showthread.php?t=35325

Happy reading and investing
Cheers

 

[quoll]

The southern burbs are ticking over nicely, noticed SEAFORD only has 9 listings. Haven't seen it this tight ever, at least in the boom people were motivated to sell. So we had 3-4 pages on RE to look at. Same deal as North, properties are selling quick, if priced sensible. There are a couple of town house down the road that have been on the market for almost 12 months, they are just to good for the area, bit more like Henley Beach or Brighton quality places, it they had toned it down and spend $50k less on each they would have gone, all the other have.

Aldinga is going well. The main problem REA have is getting listings.

cheers
quoll