Join Australia's most dynamic and respected property investment community

SA Elizabeth SA Mega-thread continued..

Discussion in 'Where to Buy' started by Corey Batt, 18th Jun, 2015.

  1. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    1,618
    Location:
    Adelaide, SA
  2. spludgey

    spludgey Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    933
    Location:
    Sydney
    If forum activity is anything to go by, then Adelaide is going to go through the roof in the next 12 month!
    2 out of 2 so far.
     
  3. skater

    skater Capitalist -- www.skatepro.com.au Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,744
    Location:
    Sydney
    Ooh, goody!
     
  4. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    6,799
    Location:
    Adelaide, SA
    On topic of outer northern areas -

    Corey did up my construction finance (already owned land) today for my development I'm doing in Playford council. IO repayment on the combined finance will be about $1500 a month and upon completion rent on combined dwellings will be about $2400 a month. Both positive cashflow and plenty of equity gain - what's not to like?

    Will share more later on, I promise.
     
  5. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,111
    Location:
    Brisbane
    Oh thank god, the Elizabeth thread lives!
     
  6. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    6,799
    Location:
    Adelaide, SA
  7. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,111
    Location:
    Brisbane
    Pretty impressive.
     
  8. James McIntyre

    James McIntyre Property Finder Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    943
    Location:
    Adelaide S.A.
    Whats happened to this threads creator Stangman??
     
  9. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,111
    Location:
    Brisbane
    I heard his favourite Metallica album was Stanger.
     
    BigL likes this.
  10. James McIntyre

    James McIntyre Property Finder Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    943
    Location:
    Adelaide S.A.
    Yeah Mustanger
     
  11. bez23

    bez23 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    129
    Location:
    Adelaide
    300 per week per dwelling? are you building a freestanding 4/2/2?
     
  12. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,111
    Location:
    Brisbane
    Can anyone outline which are the worst streets to look out for?
     
  13. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    6,799
    Location:
    Adelaide, SA
  14. Matthe_w

    Matthe_w Active Member

    Joined:
    19th Jun, 2015
    Posts:
    40
    Location:
    Adelaide
    For information I just rented my place out in Elizabeth 3 bedroom + plus study, 2 bathrooms and inline double space car park for $320 a week, took less than two weeks to find a tenant. Was pretty happy with that result.
     
  15. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,111
    Location:
    Brisbane
    Nice one, thanks for the info. It's taken a while, but I'm getting interested in this Elizabeth malarkey.
    What yield do you have now on that one?
     
  16. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    6,799
    Location:
    Adelaide, SA
    Thats an excellent result. Is that a property you built yourself or established?

    Mines not in Elizabeth so rents a little less ;)
     
  17. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    1,618
    Location:
    Adelaide, SA
    That's about right, another development project I was involved in recently in the area had the 3x2x1's renting for 310wk a piece.

    Rent's are quite healthy in the area for newer builds whilst capital values are still soft compared to the established ex trust homes, as the stigma continues to erode I believe we'll see strong pressure on the new build values.
     
  18. bez23

    bez23 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    129
    Location:
    Adelaide
    I see, is your repayments of 1500 including subdivision/demolition costs, land price and full turn key?
     
  19. Kael

    Kael Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    277
    Location:
    Sydney, NSW
    I just shudder when I see the land size of some of these new builds they're doing down there... 320sqm? So small! Is it really worth it?
     
  20. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    6,799
    Location:
    Adelaide, SA
    No demo cost as vacant block. Sub cost (20k-25k) paid out of equity release from another deal. Land purchase, site works, construction and full turn key included though.
     
    Singo likes this.