Peoples thoughts on Adelaide?

Discussion in 'Where to Buy' started by havinago, 17th Jun, 2014.

  1. ADLInvestor

    ADLInvestor Member

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    Thanks! I've been lurking on these forums for probably 4 months now, and it's amazing how much i've learnt already. Looking forward to sticking around :)
     
  2. D.T.

    D.T. Property Lookerafterer

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    What I'd do is workout the plus/minus situation of each of the properties (as in the net result of rent in vs mortgage/PM/rates/water/insurance, worked out to a monthly basis). Ignore tax for this bit imho. Say its -100 a month. Just keep 6 months worth in that property's offset account, along with an addition couple K to allow for any maintenance requests. Do this for each property.

    Then, if job is lost, property doesn't need to be thought about at all. Can spend a couple of months looking for a new job and keep your houses.

    Luckily in Adelaide, most of the properties are positive cashflow, even at 105% financing, so that makes the above sums even simpler again ;)
     
  3. ADLInvestor

    ADLInvestor Member

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    I'll definitely keep that in mind, and i'll be sure to work out the plus/minus you've suggested. Thanks for the tips!
     
  4. Anon_

    Anon_ Impulse Buyer

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    Saw this one on the weekend. Great buy if you could get it within asking price. But lots of people at the auction so may be quite competitive. I would love to put in an offer but I would need to do it too rushingly.

    http://www.realestate.com.au/property-house-sa-warradale-119710419

    Warradale 800sqm 3 bedroom $460,000 - $490,000
     
  5. eKwatee

    eKwatee You Snooze, You Lose

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    With the fear of quoting myself and also quoting an article produced by 'The Advertiser' as 'The Advertisers' truth is often blurry, however the article did contain an interesting quote from 'The Wine Industry'

    from 'The Advertiser'

    full article here
     
  6. D.T.

    D.T. Property Lookerafterer

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    Matthew - went to some Opens on the weekend and they seemed busier than previously. Are you finding the same in the areas you service?
     
  7. eKwatee

    eKwatee You Snooze, You Lose

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    Yes, there is definitely an under supply for houses in the North East of Adelaide at the moment. Units and apartments are taking a little longer to sell with less demand than houses.

    Just doing a basic search on re.com.au within individual suburbs, then doing the same search excluding those 'Under Contract' shows how few houses are for sale.
     
  8. ADLInvestor

    ADLInvestor Member

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    Yep, couldn't agree more in regards to the North East, we've been looking for a PPOR out there for the last 3 odd months, and not a lot coming up that is cheap enough for us to buy. Saw one in Dernancourt for $270k, 640sqm, 3 bedder on the land at the moment, but that was gone real quick. Everything else is bumping 400k it seems.
     
  9. D.T.

    D.T. Property Lookerafterer

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    Yea adelaide never goes up :rolleyes:
     
  10. Bentley

    Bentley Member

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    Linden Park Primary School turning new students away

    Remember people; if you want a cashed up foreigner to buy your property it has to be in a top school zone.



    http://www.adelaidenow.com.au/messe...358295521?sv=2df46d255a1c515a5b040337dc868a07
     
  11. aman

    aman Member

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    I work in the wine industry now and I can guarantee there is nobody making anywhere near that kind of money. I drive 50km each way to work to get 6-8 hours a day at $20.39/hr. The only reason it's worthwhile for me is my partner works for the same company so we share the commute, and the free wine is worth more than my wage ;)

    It's unfeasible to expect somebody who has to keep paying rent in Adelaide to move to a regional area for 6 or 8 weeks work. Most of the foreign cellar hands I spoke to didn't even break even after factoring in rent and plane tickets.

     
  12. Anon_

    Anon_ Impulse Buyer

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    What you guys think of this and recon it could boost prices around this area?

    http://www.adelaidenow.com.au/news/...182df4d25d1545d5254a005#.VVl41ZRpg8o.facebook

    SOUTH Australia will be the ?motorsport capital? of the nation after a $7.5 million investment in Tailem Bend?s SA Motorsport Park.

    The Federal Government says the project will create 350 jobs during construction, and 25 jobs after.

    The park is the vision of Peregrine Corporation director Sam Shahin and will include a hotel, accommodation and restaurants.
     
  13. 2FAST4U

    2FAST4U Member

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    Thanks for the anecdotal evidence.

    News Limited always comes up with these sensationalised stories. A couple of months ago I read a story claiming bricklaying was the road to riches.
    http://www.dailytelegraph.com.au/ne...-willing-workers/story-fni0cx12-1227245387308

    Mr White said it was not uncommon for brickies at the top of their game to earn $6000 for a four-day week.

    ?I know brickies who live in $7 million homes,? he said.

    In a couple of months we'll probably see some more stories about being short of nurses and teachers:D
     
  14. 2FAST4U

    2FAST4U Member

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    It's definitely a good initiative but it will have minimal if any impact on prices imo.
     
  15. Brady

    Brady Big 4 Banker

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    Shhh nothing to see here. :cool:
     
  16. Anon_

    Anon_ Impulse Buyer

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    Does anyone else here really hate the new look of the re.com search results?
     
  17. eKwatee

    eKwatee You Snooze, You Lose

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    Yes. It frustrates the hell out of me.

    With no headings displayed, you have to click into the listing. Wastes so much time.
     
  18. kamchatsky

    kamchatsky Member

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  19. kamchatsky

    kamchatsky Member

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    Motorsport capital? I think Bathurst/Albert Park/Phillip Island residents will argue with you there!
     
  20. 2FAST4U

    2FAST4U Member

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    Yeah that's what puts me off the Eastern suburbs as well. If I was earning double my current salary and wasn't buying/holding I would consider venturing into it. I'd rather use the East for a PPOR.