Hi Westan,
I was interested in yr post regarding yr investments in elizabeth. I had 2 properties there (sold 1 earlier this year) and the other one I will hold onto as its paying for itself quite well and has increased in price nicely. The main problem Ive encountered with owning IP’s there is getting a good property manager. Ive tried 2 different ones and both have been extremely slack. I would be really interested to hear who u use, if u wouldn’t mind sharing [^]
Thankshi gizzo
your worse than me, i just stuffed up and sent my post twice you did one better, well done. i think my problem is when i push the “back” button and then “refresh” it posts the message again.
Anyway
property manager in Elizabeth. please call i would rather not post names on this forum. happy to share on the phone call mob. 0415438666 or hm 0353585278. (happy to tell others also). i have found that a good property manager is often the difference between a profitable property and a loss, a good nights sleep and hastles so investors be prepared to move to a new manager if constant problems, i should have done it earlier with many properties. sometime i stuck with poor agents and history kept repeating itself
westanI would be interested in the properties you mentioned. Email me at [email protected] if you are genuine
Cheers
Ms Elvis
Hi bjajcri’m thinking that now is the time to invest elsewhere, the returns are not good enough for me in elizabeth area. i’m happy to sell 2 more single duplex properties in Magor st and Guther st if anyone wants them for about 88k, put them on the market yesterday. no i did nothing to them except carpet when i bought them in 1997 for 25k each half a duplex. tenants could be a problem so get a very good manager i can advise who not to use. also landlord insurance is essential.
westanHi ferris608,
i actually did send you an email a while ago enquiring about the pair of properties you were talking about, maybe it didnt go through??? Anyway if you would still like to share that info, please email me at [email protected] or give me a ring on 0405 821 120 i would be very keen to hear what you have to say.regards Xenia
hi westan, i am new to the forum but an adelaide investor and would be interested in that pair in eliz if you still have them, can you advise if you do, it would be greatly appreciated…many tnx….TH
bjajcri don’t live in SA either. but i know that the elizabeth area has a lot of dab tenant problems. as i said i just sold a pair and have two single in elizabeth. since i purchased the properties one tanant has been in the house for 6 years but the other three have regular changes. i have landlord insurance to cover tenant damage, loss of rent etc. so far i would have made a lot more claims than the insurance costs. i asked a very competant rental manager years ago what percentage of tenants would be problem tenants her comment was 50%. so be prepared to have some problems. But on the other hand i’ve made a profit each and every year on these properties and a very handy $210,000 capital gain, which is a lot of cash for me. these properties have been refinanced over the years so i could purchase more cash positive properties. i don’t think these properties would be cash positive at current rentals. anyway i am happy to be selling out of this area. Having said that there is still increadible buyer interest in these suburbs. if you buy contact me direct on 0415438666 so i can tell you who not to use and who i would recommend as property manager. In answer to your question there is a lot of negative (snobbery) attitude to this area from others in Adelaide as you have discovered, but you are looking at an investment not whether you would raise a family in the area. But i don’t feel unsafe when in the area anyway.
regards westanhi all
hey im in adelaide and if someone wants to contact me thats fine for a chat about property or whatever.
maybe we can start an adelaide property gurus get together, do some seminars,all use the best lawyer or accountant and get a big discount..lol
my email [email protected]
regards
alfHey there SA people.. I’m not from there but I just had an idea. Wrapping is illegal down there I believe someone mentioned..
How about you guy’s form a lobby group to change that law.
There must be quite a few of you down there that could benefit from this form of PPTY investment..
I am sure that there are a few people on this board who would have a clue of how to go about it.
Cheers
Calron the Alcamist
Turning things into gold is fun.
[email protected][
]Hi
I just thought I would add to this old discussion hoping it will generate some more interest on investing in SA.
The prices here have gone up about 30% in the Salisbury area in the last 6 months and even Elizabeth, Smithfield and Deveron Park have also sky rocketed. Example the place I live in at Paralowie 4 months ago was valued at 130-140K now 170-180k. 12 months ago 90 k. Even tho the properties have gone up the rentals have stayed the same and the vacancy rate has risen also. That’s close enough to 100% rise in property value in 12 months.
I have done my sums and used my contacts with agents and just cant find a property to +ve here, maybe its just because I need to borrow all the money and pay the interest on the full amount?
Remember wrapping here is illegal.
Anyway lets get this topic rolling again!
Regards Bear
hi Bear1964
yes prices have gone up i was going to put my house on the market in parafield gardens about 12 18 months ago re said abour 115000. i waited and sold jan this year for 159000.
There does seem to be any let up with the buying frenzy and the RE are loving it. All armed with lists of ready approved buyers.
Interest rates will be interesting but with a pending election reckon we might just coast along or very minimal movement.
regards
alfHi all, I thought this would be a nice opportunity to introduce myself.
It seems a lot of people here are a lot older and wiser than I am – I can truly be called a “babe in the woods” as of this time of writing. I am a total newbie to the real estate investment game but I am keen to learn as much as I can from everyone with experience.
I have had a fair amount of exposure to the stock market, I have both done a fair bit of reading into it and can say I have a fairly sound understanding of its principles and psychology of the market (which I find facinating). However, due to circumstances, I deemed it an innappropriate investment area for me due to constraints such as a high level of uncertainty (the human mind is a fickle thing…more so when it is grouped together!).
I came across real estate investment through a friend and saw it work for him, so I became interested in it and picked up Steve’s book and I am VERY happy I did as it shed light on how workable profiting from the market really is (coming from a family who had dabbled in investing in one or two ill fated properties didn’t help my initial poor perception of the property market as a wealth creation tool).
I am relatively young compared to most of you guys, I am a mere 21 years old, but I am keen to get started on becoming financially independant as soon as practically possible. I finish my dual degree in Computer Science + Management (Operations Management) in less than 8 weeks and look to begin living in the “real world” [
] early next year after a holiday overseas.Anyways, I’ve posted on a few forums on various topics which interest me, and so I know first hand that they are are an invaluable resource, and coupled with the fact that here, I am conversing with people in my very geographic location and you can multiply the usefulness of this tool by 100%.
I look forward to learning from and with all of you.
Kindest regards, M [
]Hi Magicman
Are you from South Australia?
Are you aware of the group we are getting together?
Regards
BearDear BEAR1964 – I’m also a South Ozzy. Would you please either supply me with your email address (over this forum) or reply to this posting regarding any possible “get togethers” etc with other crow eater propery investors. [
][][]Hi investors,
I was wondering how you guys got started. Did you pay off your first house before investing in another? I seems difficult not to negative gear your second property if you don’t have much cashflow. Any suggestions? [
]Johnny
General consensus is that we meet somewhere central i.e. Adelaide in a coffee lounge, quiet bar, scout or similar hall, conference room or at someone’s house. My preference would be a Tuesday Night the first being 21st October 2003. This would give everyone a chance to slot it into their itinerary. Please, does any one know of a suitable place for about 15 to 20 people?
Items for discussion include
work out some aims & rules for the group, regularity of meetings & costs, agenda, committee, get to know each others specialties & preferences & experiences, mentoring or partnering, look at setting individual tasks & goals, getting special deals on Accountant, Legal, Broking, Valuing, property management, Quantity Surveying & financial planning fees & having Guest speakers on topics of interest to the group. Other possible advantages of the group could be starting a list of good prospective Investment Properties which you know about but are not in a position to buy at the moment but other members may find attractive. Also, set up a network of tradespeople for repairs of IP’s Plumbers, electricians, painters, carpet layers, curtain & blind sellers, hardware stores which will give good service and price to group members. I have left room for your ideas. We all need to be interactive in this, so we all need to contribute to get full benefit.My email is [email protected]
Regards Bear
A quiet pub in the middle of the city wouldn’t be a bad venue because it’d help people to loosen up a bit and it’s central. Anything sounds good to me – though.
JohnnyGeneral consensus is that we meet somewhere central i.e. Adelaide in a coffee lounge, quiet bar, scout or similar hall, conference room or at someone’s house. My preference would be a Tuesday Night the first being 21st October 2003. This would give everyone a chance to slot it into their itinerary. Please, does any one know of a suitable place for about 15 to 20 people?
Items for discussion include
work out some aims & rules for the group, regularity of meetings & costs, agenda, committee, get to know each others specialties & preferences & experiences, mentoring or partnering, look at setting individual tasks & goals, getting special deals on Accountant, Legal, Broking, Valuing, property management, Quantity Surveying & financial planning fees & having Guest speakers on topics of interest to the group. Other possible advantages of the group could be starting a list of good prospective Investment Properties which you know about but are not in a position to buy at the moment but other members may find attractive. Also, set up a network of tradespeople for repairs of IP’s Plumbers, electricians, painters, carpet layers, curtain & blind sellers, hardware stores which will give good service and price to group members. I have left room for your ideas. We all need to be interactive in this, so we all need to contribute to get full benefit.My email is [email protected]
Regards Bear
Wow, that sounds awesome – I sent you an e-mail bear.
Cheers, M.
Hi Adeladeans, I have been able to secure a venue for the Adeladean Real Estate Investors Group (AREIG) Meeting on the 21st Oct. It will be upstairs at the Cafe De Val on the corner of Pultney and Pirie St Adelade 6-30pm registration for a 7pm start. Please let me know if you can make it so I can let them know numbers. [email protected]. Regards Ray
Thanks Ray
Well done!
I’ll be there with bells on.
Regards
BearDitto – Johnny [8D] [
]How many do you expect to come?
Johnny, It is hard to estimate numbers but 15 to 20 or more would be good. Give us a chance to work out what is the likely future agenda & topics of interest, and link up with others with similar experience.
Regards Ray
]
] early next year after a holiday overseas.
]
]
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