there do not seem much interest in south aust investment on the these forums. last year i sold a 5 acre property in outer west sydney and bought the same size house i had before but on less land.
then used the rest of the cash $390k to buy 3 houses in south aust, post code 5113.
i have a PM who takes 10% and they go to the houses every 2nd week to collect rent.
its working good so far rent returns $28k pa less the 10% PM fee
the property values in this area grew 30% over the last year
what seems good to me ,might not be as good as what i could have done with the cash.Hello tonkaau,
welcome to the forum, and congratulations on taking the plunge into the South Australian realestate market. I suppose the reason there isn’t so much activity on the forum regarding the SA market is due to the limitations placed on us by the SA Government regarding wraps. This, however, shouldn’t stop anybody buying some well placed Buy/Hold properties.
If you need more info I do know of a group that meets regularly here in Adelaide, however can’t give you specifics as I don’t attend. Do a forum search for posts by “summo”.
All the best,
Marco
Get more out of Renting!
http://www.positiveproperty.com.auhi Marco
thanks for the feedback i live in sydney thats why i found a PM who would go to the properties and collect the rent, as i dont get over to south aust very often. regards tonkaElizabeth Park… Hmmm… what PM are you using?? Where are they from?
Hi tonka
i used to own 4 properties in Elizabeth, i have sold 3 and have one left.
I’m concerned about the property manager i used to use one who collected the rent , he was useless i hope it isn’t the same guy, He cost me because of his poor performance. i’m happy to tell you who he is if you want to know.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
You must be logged in to reply to this topic. If you don't have an account, you can register here.
