I did use a buyers agent about 5 years ago in Sydney. Being from Melbourne it was good to have eyes on the ground. All we were looking for was a unit close to the city that had potential for capital gain.

We didn’t have expertise in the area so we went the BA route. To be honest I was expecting to be ripped off, but the guy was pretty spot on with his property selections and in tune with what we were looking for.

We were able to put in an offer on a unit that hadn’t been advertised or shown yet. It was pretty grotty so we were able to get it below fair value for a comparable unit (IMO). We did a cosmentic reno and sold about 12 months later for profit.

So I’d say it may work for you if it’s interstate and you’re clear what you’re looking for.

The BA we used was Gavin McPherson from Oasis Property. Google is your friend. I have no affiliation with him but I would recommend to anyone in a similar situation to me.

Cheers,

Dwight.

I have myself recently purchased a unit that was company title.

As there are possible restrictions on use etc it does lower the price when compared to properties that are strata titled. So I don’t think it’s necessarily a win that it “appears” to be below market value.

As Mick advises double check the company by laws to see if there’s anything there that would be a deal breaker for you. Be aware that the property will be less desirable to any further purchasers so don’t go chasing quick capital gain, you may not get it.

The property I purchased was quite cheap and generates positive cashflow so I’m under no pressure to sell as it pays for itself. Bear this in mind if your situation could change and you needed to move the property on.

Cheers,

Dwight

I love painting when I can. It’s mainly for the emotional investment and getting my hands dirty. It always takes longer than you think it ought to. I’d pretty much back my quality over a yellow-pages job.

But once you’ve finished the job, you say ‘Never again!’ At least until next time…

I’ve borrowed from my parents in the past. In fact I currently have a loan from one parent and I’m paying market interest. So to me it’s a win-win. I get access to a little more than the bank will lend me and they get a little more interest than term deposit.

I had a written loan agreement drawn up first and this is the very minimum to ensure that there is an element of recourse should things not go to plan.

It’s also bst to discuss the term of the loan and what you will do if things go pear shaped. Better to talk about it now and make a clear decidsion as to how to proceed. If you wait till there is an issue it will get mighty messy.

If you don’t need the money and the bank is willing to lend to you then yo DO have to considerwhther you’r emissing out on an opportunity to develop a business relationship there.

That’s not my area so I won’t comment, but I think that’s what you’re asking.

Anyway, best of luck.

Dwight

Sorry mba,

for some reason I thought it was your property.
I don’t know about Kempsey as an area or what yields are generally.
I can say that are the kinds of number that I’ve found and would lead me to consider the property as having good potential as a CF+ deal.
I would always get to know the area, physically, at the street level before I purchased.
You can always put in an offer to secure purchase with a ‘due diligence’ clause – something like “The property must meet the buyers expectations in every way etc etc’
I would seek the local (state level) solicitors advice to get it right, but the principal is that you can crunch the numbbers and put in an ofer that suits you. THEN if you get an acceptance you can spend time and effort to verify your assumptions.

Cheers,

Dwight

Is this a property you’re offering for sale?
I’m not sure if the forum’s quite the right spot, but good luck.

I have personally invested in the fund and am happy with the performance to date.
I have no affiliation other than as an investor. It’s a great way to get exposed to the US market without the hassles involved in doing it directly.
My personal belief is that the fund is now bedded in and is very likely to start returning some very good results.
I wouldn’t put ALL my savings into it, but it’s a great set and forget strategy to put a chunk of your hard earned savings into unless you’ve got a better track record and better idea than Steve. I don’t!

Cheers,

Dwight

I nearly invested in something similar about 12 months ago as I was looking for positive cashflow.
In the end I passed on it and went for something else because I realised I wanted more control over the investment.

In my example the numbers look OK on paper, but I was really relying on someone else to manage their investment, so I could then collect on mine.

It’s up to you how you want to move forward but It wasn’t as if there was a hidden catch, more of a decision I didn’t want to get caught up in the “managed” property investment arena.

Cheers,

Dwight

Highly encourage you to take the plunge bigkev as I have done it myself in the past and found it to pay off for me.
If anyone else has the same idea as kev it makes great sense to partner together to get an outcome.

Best of luck,

Dwight

I know in my own personal case I found it easier to go back to the well when my properties were producing more cash than the interest payments. So, what can you do – target the highest yielding proprties which will make it easier to accelerate you portfolio growth down the track.

It all gets down to your own personal goals. My goal is to go for multiple cashflow positive – (albeit not big money) properties rather than 1 or 2 that might give me a chunk of capital growth.

Good luck,

Dwight