SA Elizabeth Property 2016

{Note: thread continued from here: SA - Elizabeth SA Mega-thread continued..}

 

I also recently bought a property in Elizabeth, n hope it's a good buy

 

What'd you get?

 

A 3 bed house at Elizabeth for 195k, currently renting $240 or $250 ( can't remember )

 

If its on a decent size block you'll prob do ok... what's the next IP?

 

Around 770 land size.

Looking but not sure if should cont to invest in north size as growth has been stalled for many yrs ( guess my reason to buy )

 

Hedge your bets with one each side of town may be

 

For this renter in the north, do they want a house near station or they don't mind far from station as they have car?

 

Almost anything will rent in Elizabeth as long as it's in average condition.

 

It's not like Sydney. Trains aren't big here and are fairly infrequent. Most people that use public transport use buses. Ironically the Elizabeth suburbs that are closer to the train station (Elizabeth South & Elizabeth North) are worth less than the suburbs further away (Elizabeth Vale/Elizabeth East).

 

thanks for the info, as i have been searching for properties close to stations only, guess i can expand my search.

 

Elizabeth Vale and East is more expensive as it is closer to the city. Elizabeth Vale has a good public and private hospital too. With the same reasoning, Elizabeth South is better than Eli North and Downs.

 

Plus there tends to be more freestanding houses in those areas. North and South are full of duplexes.

 

I'd listen to DT on this. If you have one up North, consider buying the second one down South (or alternatively in another state)

 

How you know you're in a bad suburb

 

Hi All,
I am a long time Somersoft fan and have recently stumbled across this thread. My wife and I are looking to come down to Adelaide to have a look at some places (Detached houses) in the Elizabeth area in a couple of weeks and I was wondering if there were any recommendations as to some reliable agents who are worth having a chat to about the local market.

Any advice would be greatly appreciated.

Thanks heaps,
Mick

 

Hi Mick
I would give D.T. a call if you want to speak to someone knowledgeable about the area.

 

Hi Mick

What is your criteria? I'm a property manager not involved in sales at all, but I'm happy to lend an ear and so are most of the people in this thread.

Can also get you a rental appraisal for your finance approval too.

 

Hi D.T. thank you for your reply and offer. We would be looking for a house in the area that is cash flow neutral to slightly positive (should not be too hard by the looks of what has sold) I am concerned from my initial investigations that there is a considerable amount of stock that is overpriced compared to what has sold and am not wanting to get fleeced or overpay. Buying conditions are a house (at a fair price) that can be rented out and is able to be rented over the medium term (5-8 years) with minimal repairs or modifications. Price is flexible if the return is there. 2 cheaper (under $200,000) ones may also be an option. Also a larger block with future development potential would be an advantage, a long list I know.
Thank you for your assistance so far.
Mick

 

Thanks for that Hugh