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Thanks for the replies really appreciate your comments.
Just to answer some of your queries – Kent, they will pay 50% of the agents fees and I will be based in the Northern subs so anywhere around Joondalup will good. I agree with your don't sell advice but this might be one that I sell if they are paying, however I will watch the market carefully to see how Bunbury is doing and get some local advice before I make a decision.
Angel – they dont have any properties to rent so unfortunately thats a no go.
We have couple of areas in mind Kinross and tapping and are keeping our option open although we do prefer ryans idea of buying new it makes financial sense to consider an older property as the company pay the stamp duty so no paying two mortgages whilst they build.
Congrats Terry on 10,000 posts (must admit the 'Bloody hell' bit made me laugh thanks)
I am off to see another broker (wed) after what has been said on this post thanks.
Terry you mentioned paying of my personal debt with my 30k would there be a problem, with this if I intend to rent out my ppor in a couple of years?
Nick
Nick – Australind 180k south of Perth
Looking to learn as much as poss on IP so I can start building my own portfolio.
Nick
Thanks for the replies guys.
In short I have not felt entirely comfortable with the risk and yes Terry the broker was recommended to me buy the seller! Admitted I asked for some recommendations.
Not sure about using my current PPOR as a rental but I am having the house assessed for rental and valued independently so will look at what they say. I am also going to see another broker and maybe a financial consultant who can advise on the best way to build my portfolio.
Marty – I went for new because of the tax savings, lack of maintenance and stamp duty but I think I understand you mean buying older is a quicker completion and the loan is already set as opposed to wait for the final build?
I am in a good growth area so my property should gain next year. I have wondered if paying my cash off the mortgage is more beneficial to start with so will look at this as well.
Anyway back to the drawing will keep you posted on the next lot of advice and once again thanks for your advice.
NickThanks Richard hadn't noticed the income/turnover bit and no it does not look good if are advising someone.
I like the thought of starting it part time but is it realistic to be able to build up business selling one mortgage a week and live on the retainer?
Hello all
I am another one looking to take the plunge into mortgage broking and just wanted to know if anyone has heard of http://www.brokersite.com.au/
They will mentor and you can start part time which suits me but never heard of them. Any news good or bad would be very much appreciated.
Nic
