SA First time into the Adelaide market - My recent purchase

Without looking at actual house and its conditions, with the price you pay I think it is a great deal. Well done!

 

Well done @Taku Ekanayake I'm curious about what's your renovated house would be. Please post pics when you're done if you don't mind. Have you got tenant lined up already ?

 

Congrats @Taku Ekanayake
Ubering and cbd meet ups are working.

Regards

 

Well done Taku! Hopefully the reno completes soon and you can usher in some tenants right away.

 

Nice work @Taku Ekanayake, $220k is great deal on that suburb.
As requested, please post some photos. Wondering why you choose that suburb, is that budget wise? Or else..

Not too bring the north vs south, but I've been monitoring the increase between the two since 3 years ago and my preference is south

 

Is that based on the increase experienced or the growth to come?

 

Just send through some instructions to my broker. Will holiday in SA.

 

Hi @Taku Ekanayake . How much is the council and water on that property.

Kind of trivial cost but still important to factor in holding costs in that council?

 

Water is the same throughout SA at ~90 a quarter.

Council I'd prob allow 1400 a year.

 

@Taku Ekanayake good buy, well done. Thanks for sharing some food for thought

 

Do they still have deals like that ?

 

Pretty rarely get 3 bed places for that much, let alone 4 bedrooms.

Might be better off asking @DaveM though, as he's a BA scouring for deals.

 

Exactly. There is a bit of a thing for four bedders in SA too, with the vast amount of stock built being 3 bedrooms they command a higher premium in terms of rent and capital value long term.

Great work Taku and Davem on this one.

 

Nice one @hash_investor reach out if you need any info

thanks @dabbler! tbh price limited to where to look, and as part of my brief I was looking for over 7% yield, and future dev potential (among other criterias). Coming off such a low base I feel there's only one direction it can go in the long-term

@jim1964 - I put in 20% deposit so that's $44K there plus stamp & legals coming in at $10K ish, plus renos and BA fees.

Cheers @kamchatsky !

 

At it again @Taku Ekanayake - brilliant stuff. Great work all involved.

 

Cheers @blue behaviour! Yep, will post before and after pics. No tenants yet - that's left to the expertise of @D.T.

Thanks @ashish1137! Time to get on board with the Uber!

Looking forward to the write up of your recent purchase too. Cheers @C-mac

Cheers @ZachAnsel - predominantly budget wise and the numbers just made sense. I think North vs South is all much of muchness when looking in my price category. I could be wrong.

 

Compare to past years..

 

Appreciate it @Sea Eagles88 !

Thanks @Corey Batt! Thanks to the supreme work of @DaveM

Cheers Mr 10X @Redom

 

@Taku Ekanayake 's search was pretty tight on budget but managed to get him a cracking deal with the 4br, and in Salisbury LGA not Playford. Its quite large and spacious and was built as a proper 4br not a conversion/lean-to extension.

Also helped to twist the vendors arm was the tenants did a runner once they heard an open home was needed, and place needed a lot of work, so got a good discount to take it "as is".

 

The mullion dollar question would you have got that without a BA?