Hi Guys,
I am new to this forum and I am read some of the very interesting discussions on this forum. So thought I should participate as well.
I am begginer to IP and planning to buy 1 in August this year I contacted Metropole in Melbourne who assist in setting up IP portfolio.Can anyone recommend any other agencies who can assist me in buying my first home and or guide me to follow steps or approach in buying first IP.
Cheers.
You’ll find that the majority of the ‘investment agencies’ out there are just spruikers flogging off OTP townhouses/apartments as they get large commissions from the property developers – beware if you get advised to do this. Metropole is a very well known company, unlike a lot of fly by night operators.
Personally I believe the best value is in the investor expanding their knowledge and formulating a plan by establishing their goal and working their way backwards.
Building a team of professionals can help you through this process, which include an investment savvy finance broker, accountant, quantity surveyor, Buyers agent potentially etc.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
Agree with Corey.
Set yourself up with a good team of professionals that you assemble (not a one stop shop) – finance person and accountant are the most important IMO.
Absorb as much info as you can. Read up – forums like this are a great resource. There’s plenty of good books as well.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
The intrinsic vale in a property is in it location. All buildings depreciate to zero value over time.
So just finding an old how that is cash flow positive just because you have not counted the R&M required is not the best strategy.
Location is key, as well as scarcity in order to drive capital gain.
If you are borrowing 80-90% you don’t really own the property…but you get 100% rights to the capital gain.
Often properties are CF+ for a reason…because nobody wants them.
Investors should buy new properties for capital gain above the average. If you are a hobbyist investor /renovator, great thats a hobby.
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