Peoples thoughts on Adelaide?

I saw that one in that sold for $220k in Hillbank. it was sold before auction. Though I was not in the position to buy after adding it up I don't think it was that great of deal anyway.

It needed over 20-30k to make it good. So by the time you do that there are other properties priced similar.

There is 2 different "Hillbanks" in my opinion. the newer one near Elizabeth East ie Highfeild Drive. and the older one ,Skyline drive. and Williams road, Black Top Road. This is the more desirable one as it closer to Salisbury Heights/Golden Grove.

I believe it is an undervalued area. It is a lot cheaper than Salisbury Heights and Golden Grove. And is very close to them.
 
D.T. said:
Looks a bit un-exciting. Depends what your goals are i guess. It'll sit there and give you rent forever if that's your thing.

Prefer renovatable or developable myself. Perhaps I'd buy it if the whole block was for sale :cool:
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My thoughts.

If I were to look at units, I'd be targeting the inner suburbs, single storey units with a private yard or homette's in Kensington Gardens/inner east etc. Similar yields but still having that strong CG potential.

Slightly higher price range, but I think the value difference is certainly justified.
 
I made an enquiry into the Bedford Park one .. Is it just me or these strata fees some what astronomical for something so little and cheap?

SA Water $166.75 pq
ESL $69.75 pa
Council Rates $854.33 pa
Strata Fees $581 pq
There is currently no sinking fund but one is being introduced.

Yearly expenses is border $4000.
 
High strata fees is a red flag imo. Either it's badly managed or they're paying for lots of maintenance / repair work due to the building's age.

Or even if it's neither of those things, still ruins the yield and makes it a poor investment in any case.
 
I'm paying $450/qtr in a group of 6 that actually has greenery to maintain.
Is it really renting for $260/week? I need to do some rent reviews ASAP then...
 
I checked it out and it was not good. The unit itself is adequate but the actual complex is pretty bad. Went through all the paperwork and all those strata fees just make up for the ongoing maintenance. There are some bigger issues going out which are not budgeted for.
 
On the ground feedback

Had clients of mine come in today who have been looking for a PPOR in the $425-475k bracket of the North Eastern suburbs... when I asked them how they're finding the market now they stated.

- Agents aren't showing any properties prior to first open as they know they're getting numbers to open and the offers are there with more competition.
- Finding themselves competing with multiple buyers, investors, families and developers. It's been the developers and families knocking them out each time as developers are seeing the $$$ and families getting emotionally attached and paying a 'premium' to secure the property (premium being above the clients estimated value of the property and/or above asking price)
- They came back to confirm they could borrow more as now looking to offer a bit more to secure properties
 
Anon_ said:
Let's make it two ...

I thought I found a great buy in Evanston. Listing only up for 5 days and was already under contract. Spewin.
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Sorry I didn't reply to your PM about this deal, my client was the one who had the offer and secured this property. Another very strong buy by him. Funnily enough was the same client was referring to below in response to D.T

Brady said:
I have a client who has bought really well IMO up there. Sort of deals I reckon you would like.
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Brady said:
Sorry I didn't reply to your PM about this deal, my client was the one who had the offer and secured this property. Another very strong buy by him. Funnily enough was the same client was referring to below in response to D.T
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All good .. The agent got back to me that day and told me it was under contract anyway so missed out regardless. I didn't get to see it in person but definitely looked like an awesome buy.
 
glowplug said:
What about the tea tree gully area not a lot of mention here. Again some big blocks.??
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Are you talking Tea Tree Gully suburb specifically?

City of Tea Tree Gully covers a reasonable area.

Banksia Park, Dernancourt, Fairview Park, Gilles Plains, GoldenGrove, Gould Creek, Greenwith, Gulfview Heights, Highbury, HoldenHill, Hope Valley, Houghton, Modbury, Modbury Heights, Modbury North, One Tree Hill, Para Hills, Redwood Park, Ridgehaven, St Agnes, Salisbury Heights, Surrey Downs, Tea Tree Gully, Upper Hermitage, Valley View, Vista, Wynn Vale and Yatala Vale
 
Was wondering if anybody could give me an estimate on how much it would cost to demolish an existing property and clear the land.

The house is in Burnside and its an old 1960s double brick home.
 
Bentley said:
Was wondering if anybody could give me an estimate on how much it would cost to demolish an existing property and clear the land.

The house is in Burnside and its an old 1960s double brick home.
Click to expand...

Average cost I've seen clients receive is 10-15k dependent on the structure and what works are required.
 
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