hello everyone [
]i have been looking around adelaide for all different kinds of residential properties. to me, trying to find a positively geared house (with cash on cash return of over 20%) is like trying to find a needle in a hay stack.
i would like to buy a property in adelaide so that i can check it out prior to buying (as it would be my first investment).
to me, cost of rent has not gone up in proportion to capital value. why is this so? for example, a house 3 years ago was $250000 and now $500000+. however, rent has not doubled, that is for sure!
it is hard to buy a house for under $120000 these days, and there is no way that someone is going to pay $250 rent a week to live in it. it is more like $100.
are there positively geared investments to be found in established cities such as adelaide? or, do i have to look broader?
thanks, mike [
]Hi Mike
I personally wouldnt waste my time looking in metro area of any capital city for a +VE property , look further abroad is my reccomendation.
Regards Bear
only last week a house in a regional centre in SA went for 65,000 paying 130 a week. isn’t that what u guys call the 11 sec rule?
Hey beesting, I’m in Adelaide too, not many bargains around the city or outer suburbs. Were actually looking regional now. Do your homework though, you can pick up some good properties well under $100,000.
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