Hi guys,
I am based in Adelaide and am finding it totally impossible to find properties to invest in which generate a positive cashflow. Every property seems to be negatively geared in relation to the rental paid by current tenants. Help!!!! Can anyone perhaps give suggestions of areas where I can find good investment property or would it be better to buy an old house, break it down adn put on 2 new houses. Any help would be so appreciated.valken
I don’t know SA at all but my first suggestion would be to look outside of Adelaide. There are people from SA on this forum – even a group of investors that was/is? meeting in Adelaide if I recall correctly. Try doing a search & see what comes up.
Regards
SonjaYou just need to look harder they reckon. Try NZ they reckon. If thats no good – how about the Falkland Islands.
In my opinion – just wait a little longer for some balance or equilibrium in the market. Cash is king in this market.
Hi valken
sadly the days of buying in Adelaide for cash flow have gone.
even areas like Murray bridge and Mount Gambier will be difficult. You may need to look at Wyhalla or Port Augusta. I did about 3 years ago but founsd the number of empty homes off putting in Wyhalla and the tenant in Port Augusta a negative.
Try contacting Elders as the had the SAHT contract to auction/sell properties in South Australia for all areas outside Adeliade. (well they did last year anyway)
all the best
westan
westanC21 at Port Pirie handle SAHT sales for the urban renewal project. Try them as well.
Cheers
CDCastleDreamer
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