All Topics / The Treasure Chest / Property Management Companies

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  • Profile photo of gracegrace
    Member
    @grace
    Join Date: 2002
    Post Count: 0
    May 27, 2003 - 2:26 am

    Hi to all,

    I am a complete novice to property invesment and am keen to dive into buying a property. Does anyone have any advice in using Property[:)] management companies to purchase ip’s thru. There is a specific company in Melbourne,I am thinking of signing with and was wondering if anyone had any advice.

    Profile photo of truebluetrueblue
    Member
    @trueblue
    Join Date: 2003
    Post Count: 142
    May 27, 2003 - 3:21 am

    Most of us can understand your excitement about buying your first IP. However, please don’t just “dive in”. You must do your due diligence. Accidents can happen. OK, you can get someone to do the work for you, but you learn nothing. Use your own gut feeling. You’ll be pleasantly surprised. There are also books that can help you to come to a decision.

    If you are buying a commercial property upwards of say $750,000 maybe it’s not a bad idea to get someone to check it out on your behalf. Then their fees would be worthwhile.

    Profile photo of SooshieSooshie
    Member
    @sooshie
    Join Date: 2002
    Post Count: 974
    May 27, 2003 - 6:13 am

    Hi Grace,

    Welcome to the PI forum [:)] On page 12 at this forum, there is a post called

    quote:

    Property Investment Companies… any experiences?

    This post mentiions a few different views on your question. I hope this helps. [:)]
    As trueblue mentions, it pays to do your own due diligence and if purchasing one of these type of properties getting an independant valuation done is usually worthwhile.

    Cheers
    Sooshie [:)]

    There are no problems, only solutions

    Profile photo of PropertyInvestorPropertyInvestor
    Member
    @propertyinvestor
    Join Date: 2003
    Post Count: 28
    May 28, 2003 - 12:55 pm

    Hi Grace,

    Can you tell me which company you are thinking of dealing with?
    I don’t want to elaborate on which Company I only want to know for my own personal curiosity.

    These sort of Companies will generally advice you on a property that suits them more than you. In addition to that they will also help you with the management side of it for a much higher management and leasing fee.

    Am I trying to put you off? Yes
    To me it is most important to have total control of what I purchase. Not someone else!

    Do your own research, read books and keep interacting here and in other forums – it is where you will find your answers.

    Regards,
    Mannie.

    “It’s too late to go back and make a brand new start, but from today you make a brand new end”.

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