Adelaide Property Investment

Living in Adelaide I’ve only ever invested here (to date at least). Am in the process of selling one of my IPs and will be in the market for a cash flow positive property when this one sells. Am very interested to see more examples.

Hi Corey, the IP that we’re selling is down at Aldinga Beach in Bayswood Estate. There’s a few reasons we’re selling but the main ones are:

1. To free up some cash. We’ll do well out of the sale as we got in while land was still cheap down there. This will enable us to pay down our mortgage and look for another investment.

2. While it’s given a good gross rental yield of around 6% (based on what we owe), there’s been little capital growth in the 8 years we’ve owned the property. Upon completion, the house was valued at around 290k, 8 years later it’s looking like we’ll get around 320k for it. Given how much land is available in that area I’m not expecting prices to skyrocket anytime soon, so will sell it and look for a better investment. It looks like we’ve got a buyer already without it even being on the market yet so hopefully it’s an easy sale and we can move on to something better.

cheers
Pete

Great thread guys. Keep it alive and the comments coming. Are you finding much capital growth in the northern suburbs properties other than as a result of the renovations?

Corey, would you be able to share what renovations you completed in your example above where you spent $10k and had the $35k+ equity gain?

Looking forward to continue chatting with the Adelaide locals.

Hi everyone

Newbie here – to both this site and the whole business of property investing. Came across this thread when looking for posts about my hometown good old Adelaide, great to see Steve’s theories being successfully applied here!

To commence our property investing journey my partner and I were originally looking at buying a negatively geared property in a blue chip suburb (i.e. skirting the CBD) but have since seen the light and are now concentrating on acquiring a cash flow positive holding. Our plan to increase our cash/equity base is to buy, renovate and depending on outcome either sell or hold (rent).

Having never renovated before and not really being a tradesman’s bum-hole :-), I’m keen to build up a reputable team of tradies and I was wondering if anyone here could provide any advice on people they have dealt with before in Adelaide or the best way to go about finding them?

Also, I was wondering if anyone knows of any property investing groups holding regular meetings in Adelaide? Specifically groups containing everyday investors that don’t have a vested interest in flogging property or their services?

Thanks in advance
Cheers
Adam

Hey DT

Thanks for your reply mate, much appreciated!

Would be very interested in coming along – can you advise when and where the next meeting is please?

ALJO wrote:

Hi David,I am in Adelaide, my new property manager is not proactive as the one before from the same agency.I always worried about using single person business as who is going to manage if they go on holiday or get sick. Previous property manager use to do the inspection every 3 months and send me pictures and check list. Now no news about inspection. My inve property in SA 5086.Do you have good tradies as I am looking for a property which need some renovation. Thanks in advance. Jo

Hi Jo,
Feel free to send me an email at [email protected] to discuss further, but yes we do manage properties in that post code (in fact have enough people to look after whole metro so you can keep all your properties under 1 roof) and yes we do have good tradies on board. We’ve used quite a lot for both our own personal properties and for clients ones and the only the good ones get to stay.

• This reply was modified 8 years, 2 months ago by  D.T..