Hi Jay

If you're keen on the property – work out exactly how much you're willing to pay for it. Present your initial offer to the agent sighting your reasons for coming to this figure – including the valuation you commissioned, the time it's been on the market, the issues identified by the valuer, etc. Perhaps start off with an offer that allows you to move up a couple of times to reach your final offer.

If the vendor is unwilling to sell at the price you've offered – walk away and look elsewhere. Another deal will present – they always do.

Cheers

Jamie

Then so be it – you've got an idea of what it's worth.

If it's less than what the property is advertised for – offer less.

Keep in mind that whichever lender you go with will want to conduct their own valuation too.

Cheers

Jamie

Hi Jay

If you're going to arrange a full valuation then you'll need consent from the vendors to allow access to the property.

My main issue with this option is that you could look too keen.

You could ask your banker/broker to generate some desktop valuations for you – that will give you an indication of the properties value.

Cheers

Jamie

I've been told that Kevin Zani from http://www.beaumarisbusiness.com.au/ is pretty good.

Cheers

Jamie

Hiya

Diploma is now a requirement – can take anywhere between a day to a few months depending on how you tackle it. It ranges from intensive face to face courses to online courses that you do at your own pace.

Your aggregator might be able to help set you up with a mentor. A good mentor is one of the keys to success – so look around and choose carefully.

Time spent on compliance will vary depending on whether you hold a credit license or a representative of someone that does. I hold a license and spend quite a bit of time on the compliance side of things (audits, etc).

The two years mentoring is an MFAA requirement. Also, some lenders won't accredit brokers with less than two years experience. 

With accreditations, your aggregator will help to facilitate these but each lender has it's own process. Some will require a face to face learning session – others will have you fill out a one page form.

Trail can usually be transferred between aggregators. I haven't tried it personally – but imagine it would be a bit of a pain.

Marketing – you're on your own. Don't expect your aggregator to send you customers. Some franchise models send leads – but that all comes at a cost.

Cheers

Jamie

Personally  – I'd look for something that's in an area where growth is likely and can be renovated for an equity gain.

The first IP I ever purchased was a cheap 2 bed unit that we spent $3k on renovating after work hours – after a few weeks, it valued up by $40k more.

Cheers

Jamie

Check out House of Wealth's Sydney office – not sure where they're located but I think Terry W is affiliated with them so can't go far wrong.

Cheers

Jamie

Give Terry a buzz – he clearly knows his stuff.

Cheers

Jamie

Hi and welcome aboard.

Is the $40k actual or accessible equity?

If you don't mind me asking – what is the estimated value of the property and the loan amount?

Cheers

Jamie

Hi Catts

If it's the same broker from 6 years ago and you've already had a good experience than it's probably worthwhile sticking with them. However, if it's a different broker under the same franchise group then the service offering may be different as the experience is all driven by the person you're dealing with.

Cheers

Jamie