Great idea for Adelaide investors (not just Eliz!) to connect with each other! In for this for sure.

All banks calculate your income and your expenses using different methods. The income minus expenses creates either a surplus or deficit. You’re likely in a deficit with your current bank. You may well be in a surplus situation according to another lender. Not really possible for anyone on here to give you hints on which bank because we don’t know…[Read more]

Really Sorry – I was mistaken for another program of similar name.

I’m sure the MAP program is good but haven’t done it myself.

Its terrible, don’t bother

Wouldn’t put any hope in Whyalla at all.

Assuming you want to buy in South Australia – You’ll get more chance of growth, and probably about the same yield in metro Adelaide.

In my experience, I highly recommend getting LL and Building at the same insurer. Otherwise, they’ll try to send you to each other for claiming saying that it belongs to the other’s policy.

Well done. Where are they located?

Worth noting that this is not possible in South Australia.

Hiya,

Nice thread.

Adelaide is pretty good for cashflow positive deals which fit Steve McKnight’s formula.

I have a portfolio full of these but here are a couple of more recent examples:

Craigmore:
$175,000 purchase, had a sitting tenant paying $220 per week which I recognised was under market. Their lease ended within a couple of months,…[Read more]

Hiya,

Nice thread.

Adelaide is pretty good for cashflow positive deals which fit Steve McKnight’s formula.

I have a portfolio full of these but here are a couple of more recent examples:

Craigmore:
$175,000 purchase, had a sitting tenant paying $220 per week which I recognised was under market. Their lease ended within a couple of months,…[Read more]

Unless you’re in a flood area, EBM Rentcover is definitely the way to go.

I use and recommend @cjaysa , he was initially interstate when i first began using him and it was really easy to get everything done by email. I moved to SA (same state as him) and we still do things by email, so I doubt a face to face broker would have made any difference.

Thats a great outcome, well done.

Hiya,

That’s the correct way to apply the formula, and satisfies Steve’s rule for CF+

However, the property is a semi which I wouldn’t buy because
a) Lower quality tenants usually apply for them
b) You have no control over what happens to the adjoined semi. If it burns down or gets an unsavoury tenant then that’s going to impact on you as well.…[Read more]

Hiya,

Luckily you’re in WA – this is the only state that allows a pet bond. The maximum you can charge is $260 on top of the standard 4 weeks rent.

You’re not allowed to charge / collect any additional rent though I’m afraid. Indirectly however, allowing for pets increases the size your prospective tenant base, thereby increasing supply and…[Read more]

Hiya,

When I was living in Perth I was using @cjaysa in Adelaide from these forums. For these sorts of things you really ought to use the best in the country regardless of where they are. You’d need to email your documents back and forth anyway.

I’ve used them for all of my purchases and been happy with them. They always go out and inspect on the day i request, send a report later that day then follow up with a call to clarify the report. It’s good service IMHO.

1 block into 2 new torrens titles will run you about 20k-25k in Adelaide

Hiya,

I’d suggest avoiding 1-2 bedroom properties close to Brisbane CBD for 2 reasons. Firstly you’ve suggested you like cashflow and these will be severely eaten into by strata levy / body corporate fees. Secondly because there’s about to be another 1000 apartments in Brisbane once…[Read more]