David ThiuParticipant@david-thiuJoin Date: 2017Post Count: 75
I’m looking into area suburbs in Northern SA that are cashflow neutral/positive with potential for growth and wanted to know about what you guys thought about the following highlighted areas:
So far I’ve attended about 10 open inspections on Saturday and these areas seem a heck of a lot better than Elizabeth area. People actually take pride in their properties, there’s no mattresses and junks lying in the frontyard, and there seems to be a lot of families and pets. Pretty much every 2-3 houses I walked past, I had dogs barking at me.
The only thing I noticed though was some properties seemed really good when you checked them out on the internet, but when you inspected the properties there were certain issues that you never thought about. For instance, with some properties in this area were really close to the highway, and noise was an issue. For other properties the streets were very narrow or on a round corner, making it difficult to get through.
Out of the 150 properties or so analysed I found this one which was sold in May 2017, which seemed like a really good buy:
4 bedroom, 1 bathroom, 2 garage, 642 sqm land, 170 sqm build 1981 Brick Vineer, 18.34 Frontage, and even has a pool. Was rented out for $350 a week, so about 7.5% yield.
What do you guys think? Care to share your experiences or thoughts on that area?
DavidCorey BattParticipant@cjaysaJoin Date: 2012Post Count: 1,010
I’m a fan of the Salisbury council for <250k purchases. Quality is a touch higher than Playford Council/Elizabeth, for only a slightly higher price + slight reduction in yield. This will generally give you a balanced neutral yield/growth performer for the long term.
Once of my colleagues who is a mortgage broker in Adelaide wrote about purchasing property in the <250k price bracket in those areas recently.