- FreedomSeekerMember@freedomseekerJoin Date: 2003Post Count: 2
 Hi everybody! Just new to this forum, living in Parkside, Adelaide with my partner, and we have a house that we rent out in Cumberland Park (-ve geared ). Would love to get together with other Adelaide-based investors to ‘talk shop’ share ideas, maybe a coffee afternoon? Any suggestions?
[email protected]Johnny1Member@johnny1Join Date: 2003Post Count: 58
You’re doing a great job. I hope more Adelaidians take up your offer to “catch up”. It’s long overdue.
Regards – JOHNNY   summoMember@summoJoin Date: 2003Post Count: 50
Thanks Johnny, So far its looking like twenty or so have indicated they will be coming, which is great.I dont know why but Adelaide seems to be overlooked when the easterners talk about investing in real estate. Information providers dont bother with anywhere else but Melb Sydney Brisbane & Perth.And some of the seminars only happen in the Eastern States. So maybe we can show our strength and make it attractive for these people to include us in their plans
Regards SummoweniksaMember@weniksaJoin Date: 2003Post Count: 8
hi all, first time on your site tonight and it is great. We are married couples, 30’s with a young family, looking to start out in property investment. To get our start we refinanced our PPOR in Salisbury. We bought this property 18 months ago for 112,500 refinanced tonight for 170,000. the three years prior to that we lived in Salisbury Downs. We paid 79,000 for that and sold for 115,000 3 years later. We are looking at Eliz grove, in fact we may be looking through westans property tomorrow as i see now. I have found, like Bear, that we have to borrow to much to make the deals worth while. what do u think about the likely hood these areas such as Eliz. Grove & Vale, will get a revamp sometime soon, ala hawksbury park/rosewood? I would appreciate feedback from fellow SA investors.Dani67Member@dani67Join Date: 2003Post Count: 13
[Hi Westan. Am a new investor, and have just bought 2nd property in Elizabeth area. Have been disappointed with the property managers I have interviewed..they seem to take advantage of high turnover of tennants to rip off clients with high re-let fees. Some seem unprofessional.We have a fantastic P.M. with our 1st one,able to negotiate, but doesn’t deal with Elizabeth area. Would appreciate a line with your experiences!! Ta [email protected]]
i don’t live in SA either. but i know that the elizabeth area has a lot of dab tenant problems. as i said i just sold a pair and have two single in elizabeth. since i purchased the properties one tanant has been in the house for 6 years but the other three have regular changes. i have landlord insurance to cover tenant damage, loss of rent etc. so far i would have made a lot more claims than the insurance costs. i asked a very competant rental manager years ago what percentage of tenants would be problem tenants her comment was 50%. so be prepared to have some problems. But on the other hand i’ve made a profit each and every year on these properties and a very handy $210,000 capital gain, which is a lot of cash for me. these properties have been refinanced over the years so i could purchase more cash positive properties. i don’t think these properties would be cash positive at current rentals. anyway i am happy to be selling out of this area. Having said that there is still increadible buyer interest in these suburbs. if you buy contact me direct on 0415438666 so i can tell you who not to use and who i would recommend as property manager. In answer to your question there is a lot of negative (snobbery) attitude to this area from others in Adelaide as you have discovered, but you are looking at an investment not whether you would raise a family in the area. But i don’t feel unsafe when in the area anyway.