Investing in Adelaide/Elizabeth

Dr.X is your first port of call for the Adelaide market.

Let us know how you fare with your research as I know people who too are considering Adelaide in the future.

Fast Lane- The poster formerly known as g7

Hi Shaun

i own one (semi) in Elizabeth have done for 8 years. At one stage i owned 4 (semi’s), which i purchased in 1997 of about 21-25K, so i got them at a bargain price. Two of these were in Scott St Smithfield plains.

My thought are these areas are a bit rough, you must have landlord insurance, i was often claiming on it and ended well ahead of the premiuns i was paying. Expect to have problem tenants !

Secondly watch out for areas with soil movement , there is a lot of cracking and shifting of homes , it can be very expensive to underpin a home. Also watch for cheap cover ups of more serious problems (paint covers many problems)

Let us know how you go

regards westan

Over 100 deals done in the USA in 2005
Buy in the USA email me at [email protected]

i thought about buying there, but a friend of the family had two bad experiences with tenants/crime in that area, so i decided against it.

Instead, I purchased a unit at largs bay, and am currently looking at another in similar area, such as semaphore or port adelaide. I think these areas are great for capital gains in the next 5 years, and no trouble finding good tenants, you can get good working class engineers or whatever , either from the submarine centre, or the upcoming warship center which is going to be at north haven, only a stones throw away.

I hope this helps, and good luck![fear]

Oh another comment,

Years ago the Govt was going in and refurbing the whole area, North Elizabeth is an example, its called the rosewood estate (i think, i haven’t been there for ages). The govt spent a huge amount street scaping the neighbourhood and doing up homes. I’d imagine if this was still happening then areas boardering on to these estates would be attractive to investors. I don’t even know if the plans to do up areas are still on the drawing boards but it maybe something worth loooking into.

regards westan

Over 100 deals done in the USA in 2005
Buy in the USA email me at [email protected]

There are some good areas in Elizabeth and to a smaller degree Smithfield. Davoren Park is generally quite bad. You really need a good “local” property manager. (I can give you some names if u wish).

But for that price range… ie. 85-100k for a semi detached 3 br home., there is not much else you can get in Adelaide for the price.

I have heard a few varying stories..
1) A landlord had a tennant on a periodic lease in Davoren Park. The tennant not only failed to pay after 3 weeks, but when the landlord went over, he found that the tennant took all the carpets and aircon!!! [biggrin]

2) There is a guy who owns 20 properties in Eliz/Davoren Park area. He is a bikie (Hell’s Angels) guy. When he meets the tennants for the first time. The only thing he says is “DO NOT BE LATE FOR RENT!” [grrr]
And he has never had any problems. In fact when the tennants are late for payments, they ring him to apologise!

Hope this helps?

Hi Gabs.
I was actually going to purchase a property in Davoren Park 1 year ago.
It was a Semi Detached Masionette with 3 br. (Most of them are).

The asking was 85k with rent at $140-150pw. I can’t believe people there so much in rent instead of buying the friggin house?!?!?

Anyway I pulled out at the last minute. Can’t remember why but something to do with contract falling through.

Ken Klose is a local real estate agent. Basically you want an agent that is based in the area! Either look for houses on realestate.com.au and find out which agents are selling the properties and speak to the PM!
Let them know your fears and find out what they are like.

By the way, there are “better” parts of Elizabeth as well because the DSTO/BAE Systems workers are there. So, anything around the Elizabeth shopping center is very neat and handy.

Hope it helps… [blush2]

OOpppsss… Sorry about Ken Klose.. I just thought he was local.
But Westan your right.. [blush2]

Hey do you have other property managers?
Around the prospect area?

We can certainly help out with property management.

We can also help out with setting up lease options for people who want to convert properties into positive cash flow investments. Because of the lower prices, these work extremely well in the Northern Suburbs.

Xenia Ioannou-Mena
Property Manager &
Property Sales Consultant
E: [email protected]
M. 0412 437 582

I just brought a property there ( South ) and can see huge potential for future growth. Firstly they are slowly moving out the not so nice people and are putting a lot of work into infrastructure etc. Not to mention the hundreds of new army personel . They all need somewhere to live. So in the next 5 years the socio economic will change completly especially as the cbd gets more and more expensive nice families need somewhere to go. Anyway if you do need an insurance claim at least you got a cheap renovation. Als if people like margeret lomas are buying there you know you are on a good thing.[biggrin]