Hi All, Firstly, thank you to Property Chat and all those that contribute. Have been following and learning from the forum for years and it is a great community. A bit about me, am early forties and married to wonderful wife and have two young ones. Eldest just started kindy. After travelling the world returned home to Adelaide a decade ago where we have family and good jobs. Have had an interested in property back to my early twenties when purchased a small townhouse in the Adelaide CBD. Was literally the worst house in the best street. Rode the capital gains train over 15 years and it nearly tripled in value. At about the same time my wife also purchased a unit in Kensington and similarly made a good profit on the property. After getting married we purchased both sides of a maisonette in Parkside that had been on the market for over 12 months, vendors were unrealistic and knocked back several solid offers only for the GFC to strike. So when we presented an offer in late 2008 they jumped. The property was on one title but two allotments so for a nominal fee of couple of hundred dollars we split into two titles. One side sold as is with minor improvements. While the other side we lived in for three years while renovating and then put it on the market. Parkside was and still is a hot market so we sold after first open and made a good profit. Around the same time my wife and I both sold our previous homes, so combined with profit from Parkside we purchased our family home where we currently are and will stay. At the time of buying our current PPR we agonised if to sell or keep the existing properties. The portfolio would have been neutrally geared or even positive. However, weren’t comfortable having a large debt on a family home While we sold down the investments we always planned on getting back into it. And while income has been restricted due to the little ones and time taken for maternity leave etc we did purchase a property in Valley View 3 years ago. The property is on an irregular shaped block but was 900 sqm and were able to sub divide 300 sqm down the side and build a new 3 bed house while keeping the existing house. The existing house is on 600sqm and in the future will be able to be redeveloped into 2 courtyard blocks. With the low interest rates atm, properties are positively geared. Property investing has been good for myself and my family, allowing us to buy our family home in an area we love. It gave us financial room so that my wife didn’t have to rush back to work. And now its part of making sure we have an independent financial future. So that’s my journey, thanks for reading. Happy to answer any questions. Regards Tom
Hi DT Pre approved so looking around for properties sub $400k. I like the NE suburbs. With extension of the o'bahn into CBD then got a lot to like about it. Either there or southern suburbs. But before buying anything think its a good time to make sure have right legal and finance structure in place.
Great idea to get the right team around you. @Corey Batt is an Adelaide broker who invests himself and contributes a lot here.
Nice first post - more than the usual two lines saying hi. Welcome to the forums. Definitely still some good opportunities in the NE region for <400k, still seeing clients purchasing consistently in the areas. Not so much yield focused, but still present a good balance of yield vs growth.
thanks, While growth is the main attraction, at this stage of building a portfolio, yield is still important to me. Thats why will try to find a property that I can value add to and increase yield. after last couple of years have no intention of stressing our cashflow too much.
