Buying in the $200k's in 2024! How? & Should You even Do It? - With Tim Watson

[@RobShanB]

That place in Adelaide has now dropped to $125k. 109/160 Rundle Mall, Adelaide, SA 5000

[@pizzaandproperty1246]

Yeah they generally sit between $120k to $150k it’s madness haha hope you’ve stayed well clear of them mate 😊

[@cynthia9040]

Hey Todd, can you please get a SA property manager to talk about SA tenancy law changes came in on 1 July which is scaring investors away as it is almost impossible to move a bad tenant on at the end of a lease, thanks.

[@pizzaandproperty1246]

100% about to make this happen on a weekly slice 👍🏼 the changes anent the best but when they’re broken down there’s a lot of new things we need to know

[@cynthia9040]

Agents telling me a lot of nervous landlords are planning to sell, in fact you can see a lot of current listings are investors selling with lease due to expire in many months away, the SA government has introduced the most anti-investor law in Australia, it will make the SA rental crisis going from bad to worse.

[@pizzaandproperty1246]

The new changes are not great but they're also not bad enough that I'd want tell sell everything off from what I've read so far. If the pressure you're describing really does kick in sounds like a better time to be a Landlord once the new understanding of risk management is understood.

[@am1296]

​@@cynthia9040they are joining Victoria

[@coreyfullarton8120]

So what suburbs would you recommend?

[@pizzaandproperty1246]

One of the inspirations for this ep was someone sending me a purchase they bought in the $200's that was absolute rubbish, they were so happy they secured it so cheap. After committing it was too late to show they why this was abad idea and was not going to be a good asset for them to grow a portfolio. A list of areas isn't the point with this ep bro, you can buy studio apartments in Adelaide, Perth, or houses in regional NT and some in regional NSW, QLD etc. But the point of this ep is to help paint a clear picture of the risks that come with this price range to help everyone stay safe investing.

[@andrewg1508]

I'd love to know the statistics on how many Aussies own 1 IP, 2 IPs, etc. all the way up to say 10. What percentages are they etc?

[@thetwowheeledintrovert3367]

This one felt like a bit of a bait and switch. Appreciate neither buyers agents or mortgage brokers want to deal with small purchases. It’s unlikely a punter will spend 15k or whatever buyers agents charge, and for mortgage brokers it’s the same paperwork for a small mortgage as it is a large one, but the payoff is different. There wasn’t any particularly bad advice, but there wasn’t really any particularly good advice either.

[@pizzaandproperty1246]

Hey mate, sorry you felt that way, this is a common question I get about buying in the $200’s what it looks like and is it still a good idea, was interned to answer that question for people

[@jonwoolf8176]

1 bedroom units in vic park wa have gone from 150 000 to 290 000 in last 2 years!

[@pizzaandproperty1246]

Great! This is one you bought?

[@jonwoolf8176]

No I bought a 3 bedroom in Carlisle. I looked at all units in vic park area and their previous sales. The one bedrooms we’re renting from 400 to 500 per week on $250000 units at time. 6 months later there asking 290000 and are getting sold. For some reason units in south Perth don’t go up as much as vic park even though it’s a better suburb.

[@pizzaandproperty1246]

sounds like you probs still made a much better investment mate! even if these units are closing for the $290k when you pull apart their cashflow rates, starta etc they look rubbish... try it out on the cashflow calc link below 🙂 www.pizzaandproperty.au/cash-flow-calculator/

[@kurts9085]

My running theory is Broken Hill is a bubble even at prices this 'cheap'. Been there for a couple of days to check it out its a relative economic backwater with an aging and declining population. Very difficult to see capital gains in fhat place going forward.

[@pizzaandproperty1246]

I’d be carful putting your money into BH bro, probably best to follow your gut on this one 👌🏼

[@kurts9085]

@@pizzaandproperty1246 what's your reasoning ? From mine everyone looks at Broken Hill because it's cheap and it's in NSW so they can use their Sydney conveyancer. But when you fly out there, there is stuff all retail investment, state government investment is non existent because they don't care about the Far West, and private capital investment seems to amount to a compressed air storage facility. Layer on a declining population as noted and an aging one and the capital gains it's just had are surely all it will see in quite some time.

[@pizzaandproperty1246]

I can't disagree with that mate, where you looking now? I'm guessing you're looking to add some higher yields to you portfolio if you're checking out BH

[@kurts9085]

@@pizzaandproperty1246 Spencer Gulf towns, Whyalla is booming at the moment

[@topshot2680]

I thought for sure Mildura would come up here

[@pizzaandproperty1246]

Yeah been looking there for a little bit now, I'm not 100% sold on it yet, you investing there?

[@topshot2680]

I haven’t invested there but I would definitely add a Mildura if I had the lending available. I just wanted to see if I was on the right track for this podcast

[@ANDIYOUNGtv]

It’s very hard to hear him as he’s talking in ASMR.

[@pizzaandproperty1246]

ASMR haha what do you mean mate? he's not gently breathing into the mic 😂

[@Andrew-hu1bx]

Hi mate love the show but there is not need to rip off a diary of a CEO’s intro. Just do your own thing mate and people will like it, no need to copy others

[@pizzaandproperty1246]

Hey dude! 100% got some inspo from DOAC each week we’re adding to what we do fine tuning our own thing. Would love to chat content creating with you if you work in the space bro DM me 😊