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Hi from SA

Discussion in 'Introductions' started by JASA, 1st Sep, 2015.

  1. JASA

    JASA Member

    Joined:
    26th Jun, 2015
    Posts:
    15
    Location:
    Australia
    Hi Ex SS since 2010. My property investment journey has not been plain sailing, I've made some good decisions and some bad ones but still here battling away. Current portfolio 2 Apartments in North Adelaide, 1 rural acreage north of Adelaide and a house in Redlynch Cairns. Hello to all, best of British luck to you :)
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,576
    Location:
    Adelaide, SA
    Hi and welcome, seems to be plenty of SA people about :)
     
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  3. jim1964

    jim1964 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    674
    Location:
    At tha beach
    hi Jasa,can I ask how your North Adelaide apartments are going?
     
  4. JASA

    JASA Member

    Joined:
    26th Jun, 2015
    Posts:
    15
    Location:
    Australia
    Hi, they're pretty good. Rental returns have been great but have not increased markedly since I bought them in the early 2000's. CG not spectacular, we have to be due for some more of that eventually.
     
  5. Simon Hampel

    Simon Hampel Founder Staff Member

    Joined:
    3rd Jun, 2015
    Posts:
    1,648
    Location:
    Sydney
    Welcome JASA!

    Is there a lot of rental competition from other apartments in the area?

    If you bought them early 2000's and haven't had any CG, it sounds to me like perhaps you paid too much for them? Were they OTP? I would have expected quite significant growth since then.
     
  6. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,458
    Location:
    Sydney & Gold Coast
    Welcome aboard.

    Are you looking at expanding or consolidating your portfolio in the near future or happy with where things are at? :)
     
  7. jas

    jas Member

    Joined:
    6th Sep, 2015
    Posts:
    10
    Location:
    Australia
    Hi Jasa, we should stick together :)
     
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  8. JASA

    JASA Member

    Joined:
    26th Jun, 2015
    Posts:
    15
    Location:
    Australia
    Hi Simon, they are studios top floor of 3 storey walk up off Melbourne street. I paid $180,000 rental return was $300/ week since purchase...now $320 :( probably worth $260,000 now. Not great over 12 years. There are loads of apartments in CBD mine have car parks so that's a big plus, hoping for a lot more growth.
     
  9. JASA

    JASA Member

    Joined:
    26th Jun, 2015
    Posts:
    15
    Location:
    Australia
    Thanks, I am consolidating but keeping the apartments as they are low maintenance and I've always had great tenants.