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I know nothing about Adelaide suburbs and investing there. I do understand what you are saying not pom and a lot of it makes sense. I think you have two types of investor, those like yourself who do go for the land value and those who are in it for a quick $ and turn around. If I had the money and time to invest then yes I would use your method, however, I cannot afford to sit on assets so it would be a case of looking for a suburb that may be a little dodgy but up coming and selling it two years later for a profit.
I agree that overtime it is the land that increases.
Just out of interest can I ask if you invest in any other states. I would love to know where you would choose for Victoria, from your way of thinking I'd say Brighton, Beaumaris, maybe Mordy. Whereas for me I would look at areas I would never love myself ie Frankston, Carrum Downs, Point Cook etc
I think it was only a year or so ago that the first $1million dollar property sold in Adelaide, and as many of the posters on this site will know, the properties that are usually offered for rent are usually those worth a lot less than that, so telling a prospective renter that they wouldn't be considered good enough for a "million dollar investment property" was really just grandstanding on your part.
You haven't actually responded to any of the questions about where you are living now, but if anyone is believing the hype in the press about property values, I am assuming it is more likely to be an interstate investor than someone that lives here. Quoting investment-speak acronyms is also usually the sign of someone who has been reading about a situation rather than living through it!
1996 is nearly 20 years ago, and I'm sure there were some bargains around in Adelaide and some of the other South Australian suburbs then. In fact, I have been told by born and bred Adelaidians that property around Henley and Grange was not in demand by local Australians at all for a while, and lots of italian and greek migrants snatched seafront blocks up in that area for very little going back a few years.
Now as I said, these are minutes of my life that I will never get back, so I'm off to enjoy the rest of my weekend now - talking about money is SOOO common!
Sometimes the grass will appear greener on the other side because it has been fertilised by bull****
What a funny little thread.
"Don't stare at it for too long.....you'll go mad".
I'm interested in investing in a second property, where would you suggest then notpom? I liked the idea of buying a plot in Christies, but prices there have shot up a bit and it's not really going to be affordable. I'd like it to be southern suburbs somewhere, so it's manageable.
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Anyone else following this and another similar thread with incredulity??
Here is someone "talking down to" posters regarding property investment.
Most of us who have done OK are not going to be off giving free advice to everyone, we worked hard , saved and planned.
Never do I read these articles about "what's hot in property" and so on..............
It is very entertaining!
Who could have foreseen that the Onkaparinga council would have introduced a policy of medium density development. The power of hindsight! If I had bought run down plots or shacks and held them for a few years I would have made a fortune. The properties that I have are now worth more if I demolish them and build multiple homes on the plots!
I would say beachfront in O Sullivan's Angus. I looked at the area a few years ago and I know someone who rents there. It's changing, but slowly.
An alternative would be a syndicate to buy beachfront Christies or Port Noarlunga...demolish and develop. If only!
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Ok so I am in Norwood you can pay a million for a block here and expect to knock the house down. Rose Park new semis on split blocks selling, yes selling for 1.5 mil. Will always be popular because of cose to city plus the Parade. Wish we had bought here years ago.
plenty of million pound houses here. My money is on the south west corner of the city for capital growth in the next 5 years.