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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

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    Only fitting an 85 page Somersoft thread spanning three years continues!
     
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  2. spludgey

    spludgey Well-Known Member

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    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 Premium Member

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    Ooh, goody!
     
  4. D.T.

    D.T. Adelaide Property Manager Business Member

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    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

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    Oh thank god, the Elizabeth thread lives!
     
  6. D.T.

    D.T. Adelaide Property Manager Business Member

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    The other one was the largest thread on Somersoft of all time, if that counts for much?
     
  7. Azazel

    Azazel Well-Known Member

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    Pretty impressive.
     
  8. jim1964

    jim1964 Well-Known Member Premium Member

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    Whats happened to this threads creator Stangman??
     
  9. Azazel

    Azazel Well-Known Member

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    I heard his favourite Metallica album was Stanger.
     
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  10. jim1964

    jim1964 Well-Known Member Premium Member

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    Yeah Mustanger
     
  11. bez23

    bez23 Well-Known Member

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    300 per week per dwelling? are you building a freestanding 4/2/2?
     
  12. Azazel

    Azazel Well-Known Member

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    Can anyone outline which are the worst streets to look out for?
     
  13. D.T.

    D.T. Adelaide Property Manager Business Member

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    Two freestanding 3x2's.
    $280 a week rent x 2 of them x 52 weeks / 12 months
     
  14. Matthe_w

    Matthe_w Active Member

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    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

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    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. Adelaide Property Manager Business Member

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    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

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    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

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    I see, is your repayments of 1500 including subdivision/demolition costs, land price and full turn key?
     
  19. Kael

    Kael Well-Known Member

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    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. Adelaide Property Manager Business Member

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    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.
     
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