Don`t know where you are freedom, but I am in regional S.A. and IP`s are +`ve in these parts. I have 5 ip`s and growing, and can be pm`d if you were interested in this area.
I don`t know much about spotters fee`s, but would be happy to talk to like minded people if they want info on my part of the world.Regards , Terry
“My husband and I are wanting to purchase 10 or more +cashflow IP by the end of this year,…. I am willing to buy almost anywhere in QLD, providing it has great returns.
Thanks,
tyoung”I know a couple who can help you. I’ve mentioned them recently on other threads. They know the area backwards, and are a successful investor couple who have made multi-millions. they are helping people get into investments and i think they charge $1000 , they get you over for dinner first! then I think they recommend you go up with the husband and spend a day actually on the ground. He has a whole team in place etc. i think they’ve been in API magazine. they are really good people.
email me if you want more info.
freedomfinder,
“how many of you are out there ?”
there’s me, Leigh who’s my bird-dogging partner, and westan who is a good friend, legendary investor, and fellow bird-dogger.
“what areas are researched and how ?”
I specialise in the NZ north island and in high cashflow properties. -basically, the kind of properties that are hard to find in Aus.do you invest in your researched areas ?
Absolutely!!! it was all my talking about my investments here on the forums that attracted my first three bird dog clients to approach me privately to try and find them something similar, before the idea to bird-dog had even occurred to me.“what condition are the properties ?”
Of *my* three properties, two needed cosmetic renovation and one needed nothing done. For clients, we try and find better quality really nice places that suit offshore investors. They cost a bit more but then our clients tend to have more to spend than I did! At the moment, deals we are finding are between 32- 60K. depending on the property and the town.We have really good photos of all the properties which Leigh took when he was in NZ last week. You get three small pics in the deal summary, but there are 6-8 large high res photos we can send you when you want more info on a property.
what returns do you find ?
Over 15 percent. that’s our minimum.what do you charge ?
$1000K or 2 percent of the purchase price if over 50k, capped at $2500.can you be trusted ?
Yes!!!!How do you know?
Um, well, we could meet and i can show you some deals, you could talk to a previous client, emails back and forth, i could get some testimonials together (not a bad idea – must do that! ) – there are a bunch of ways you could check me out. Do what you need to do. Ask what you need to ask.“I have come to the conclusion that employing someone to do the leg work will help me in buying multiples in a shorter period of time.”
yep, I hear ya!! I’m self-employed so I can always be available when I need to be. I know it’s a lot harder for people with ‘normal’ jobs.
Luckily, after having bird-dogged a few deals now, I’m getting more and more organised. Like, Leigh and I now have a lot of information ready to go and already put together. For example, let’s say in the deal summary you like a house in a particular town and want some info about the town. I’d send you a pdf about the town with statistics like population, market rents, property prices for the last 5 years, pictures of the town, maps, etc! We’re also getting lists of valuers, tradesmen, building inspectors together in the towns where our deals are.
Anyway, feel free to PM me if you want more info.
That goes for anyone else too.cheers-
mini
yack, as usual it’s you leading the pack of nay-sayers, but as you know, I’m always up for a debate, so here goes;
“If Spotters reckon the properties are any good and offer great positive cash flow surely they would move heaven and earth to buy or keep them for themselves.”
You forget that the perk of the job of being a spotter is that you automatically get all the best deals first!!
But if it was possible to buy all the deals, the spotter would! The business of spotting is where a person who finds more deals than he needs meets up with someone who wants the deal.
“I cannot see why you would be prepared to buy these types of properties without doing a little work yourself.”
you absolutely could. I mean, I did! i didn’t use a spotter. I had many years of travelling around NZ in my work when I lived there, getting to know it ‘casually’, and several dedicated property investing trips since, culminating in ‘tour-guiding’ a property-investing trip, buying properties, and now bird-dogging. Clients could of course do this but it would take time. It’s just a form of leveraging, to use someone who’s already got a bunch of knowledge and experience.
“What is wrong with properties in your area.”
what do you call ‘my area’? my investing area? nothing!! they’re fab…
Do you mean what’s wrong with investing where I live? Paddington Sydney?
well, the houses are too expensive. They’re actually, globally, some of the most overpriced houses in the world. They are so due for a correction it’s not funny!!! if the average price in Sydney is 550K, it’d be 800k here in Paddo. can’t afford it. YET! Also they’re soooo negatively geared to the point of 2-3 percent returns. And it’s the end of a property cycle, so capital gain might be flat for a few years, if the media is to be believed. I can’t see the point, just yet, unless you’re an emotional home-owner buyer.“Do you really want cash flow over capital growth?”
Cashflow is important if you want to ever stop working. As you can live off a CF+ve property it till the cows come home – it’s an income-producing asset. Negatively geared properties are not income-producing assets. they’re income sucking assets which eat after-tax dollars.
CF+ve properties are important if you not only want to retire but also want to own (support) some negatively geared growth properties later on. CF+ve properties aren’t the only option, of course things like cash deposits, share dividends, royalties from intellectual property would do it, but share dividends yields are lame compared to the property deals we are finding, plus rents are indexed for inflation and so the returns get better over time.
cheers-
miniMini <edited – no name calling thank you!>
I acknowledge all your good points.
I just dont have the time for researching a particular area for ve+ investing. There will be a time when I will need to have ve+ properties as I approach semi retiring.
As my portfolio is neutrel or very close, I dont need to go to far from home. I will just wait for the market to correct.
Hi Freedomfinder,
too many replies here – best to start a new topic and leave your details – like an email or contact number so ppl can ask you how much your willing to spend – your initial questions were too vague.
kind regards,
George.If You never never ask, you’ll never never know”
Mini <edited – no name calling thank you!>
Sorry – it was suppossed to be light hearted.
Yesterday in a separate post I called Pisces – Pieces.
Yeah – I do laugh at my own jokes. You would too if you had my job…..
Hi Yack
Yack said
Yeah – I do laugh at my own jokes. You would too if you had my job…..I presume then, that you are a teacher.
Regards
west oz residential or commercial 1-5% purchase price depending on leg work
So many +CF properties out there.Let me help you and achieve a win win situation.Russ.
hi tyoung,
I personally think people get too hung up on boundaries and borders. What does it really matter whether you invet in Queensland, or on the other side of the planet? As long as the growth area is good, the returns are good and your expenses are minimal, leaving a nice weekly surplus in your pocket!?!
I have an over supply of great +cf properties at the moment, but they are nowhere near queensland -and I don’t want very much of a spotters fee either!! If you’d like some info anyway, you could drop me an email and I’ll send you more info.
Cheers
afloatOriginally posted by JetDollars:Originally posted by Julian:Hi Chan$
Why? Those are the most common questions!Regards
Julain [
]THERE IS ALWAYS A BETTER WAY!
I don’t anyone of those spotter will tell you the area straight away other wise you go there yourself
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]Martin P Ryan
I know two really great buyers agents in SE Qld. One of them has 118 people on his waiting list. He is great at negotiating and very creative with contracts.
The other one has semi retired but has been involved in RE in SE Qld for 25 years and knows the market backwards.
If anyone wants some info, please contact me.
Financial Wellbeing Coach
W: http://www.pfsfinance.com.au
E:[email protected]
E:[email protected]Development Finance Specialist
Hi all,
These people might be able to help you… I haven’t used their services. All their fees & terms are readily available..
http://hunterhousehunters.com.au/Also you might like to do a search on this site. Look under forum boards on the left. Type in ‘spotters’, ‘spotting’, ‘bird dogs’ and see what it turns up for you.[biggrin]
Regards,Sharon
Hey Freedomfighter,
You have some good starting questions and have you considered contracting a Buyers Agent? You still have to do your home on the market. Any great investors knows their market, part of this over a period of time, unavoidable I’m afraid.
Stick to a limited amount of areas as part of your strategy. At the moment in Australia there is very few areas pulling a positive cashflow due to the market conditions. The fundamentals are not balanced in favour of cashflow. Specultors are focusing in on capital gains. Having said that there has to be areas with good cashflow.
Searching for cashflow in areas any area takes more time than watching areas you like under a mciroscope because ach time you need to get a feel for the area.
Be patient, wait for the fundmentals, save you money and strike with confidence. THEY WILL NEVER RUN OUT OF HOUSES.
Aaron
Hi Freedomfighter,
I’m an independant Buyer’s Advocate in Tasmania, my name is Judanne and I’ll attempt to answer some of your questions.
How many of us out here? Well just in Launceston there are four of us that I know of. Two, like myself are investors who have branched out, one is an ex agent and the newest has bought into a national franchise.
What areas are researched and how? I rely on my local knowledge as well as statistics provided monthly by the REIT based on stats provided by their members.
Do I invest in my researched area? Of course!!
What condition are the properties? Anywhere from dog boxes to palaces depending on price restrictions and areas chosen. For less than $150K you can find a palace in an ex housing dept area or a do-er upper in a better area, for example.
What returns do I find? At the moment most returns are 4 to 6% gross, but there are occasionally much better returns and I know of two properties on the market at the moment returning 8% and 9% Nett and both under $150K.
What do I charge? An engagement fee of $330 and a finder’s fee of 1.1% of purchase price. This fee is normally offsett by the savings made on the purchase of the property.
Can I be trusted? I have testimonials from some happy clients on the website. If necessary, I can ask if you can contact some ex clients.Judanne Simpson
Launceston Homefinders
http://www.launceston-homefinders.com.au
[email protected]There are a swag of basic checks to determine if a property is a good investment …. BUT, the psychology of the buyer is also part of the ultimate equation of whether to buy or not.
The decision rests on assuming a certain price range and ability to service debt. Again, the buyer’s characteristics enter, some having cash and some borrowing the lot.
No-one can do it for you, you must reasearch a tight area or class of property, attend inspections, auctions etc and get to know a couple of good agents who specialise in the area or class that interests you.
If you put the leg work in, are qualified to buy and are a genuine buyer you will be the first to see some real bargains. Agents will call you, but beware, they can smell a tyre kicker a mile off.
How will you know they’re bargains? Because through your efforts you will be the most informed about your area or property class then anyone else, including agents. Its a full time job but the effort virtually always pays off.
It can’t be done by “Spotters”. If you want some pointers to selection criteria, there are none better than those put out by Wakelins in Melbourne.
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