Hi all [thumbsup2],
My name’s Nick, I’m 23 years old and I’m looking to start investing in properties in the very near future. I’ve been doing a fair bit of reading and property investing looks challenging, yet very fun and rewarding.
I’ve been viewing this forum for a little while it there seems to be a lot of great people here, who seem to be happy to share their info with others.
I had a question and just wanted to find out if anybody could recommend a good mortgage broker in the Sydney area.
If the information helps, I don’t own any properties at this stage, and haven’t got a specific property in mind. I mainly want to see someone who can let me know how much I can borrow and the best way of doing it.
Any advice will be greatly appreciated and I look forward to learning as much as I can from everyone on these forums.
Many thanks,
Nick
hi nick.
name’s nickey
I’m in a similar situation as yours. 25, and looking to start investing in property.i don’t know about other ppl, but I’ve learnt a great deal from visiting my local Mortgagechoice broker. I think thats a good place to start, and they should be able to help you out in most aspects.
I’ve talked to a Aussie home loan agent as well, and they were equally helpful. I’m going with the Mortgagechoice broker though, as he seems to explain his recommendations and inner workings of banks/loans in more detail.
Good luck on your endeavours!
Hi Nik
Welcome to the forum.
In my opinion you are never to young to start investing and purchased my first IP at the age of 18 back in the UK.
To assess an application and make recommendations on borrowing capacity, structure etc a little more information is required.
Lenders look at a variety of things but serviceability is paramount. Taking into consideration the rent you will receive on the property being purchased together with your income and subtracting on the other side of the ledger your liabilites as well as a set living allowamnce dependant on your marital status gives a broker a net disposible income figure.
From this figure he can calculate the amount of loan available to you and look at the types of lenders and the terms and conditions each would impose.
Each lender looks at rental income differently and takes a particular percentage into consideration. The same applies with liabilites so providing a broker these figures will enable him to offer you a couple of lending options.
Structure is also dependant on individual circumstances. Do I buy in Trust / Pty Ltd or personal name will be different for each client and a clients circumstances will change as years go on.
Many of my clients both here in Australian and overseas I have never actually met face to face but treat them as friends and hope they now that i am a phone call or an email away.
Most applications are lodged and processed electronically so the day of the email has revolutionised the mortgage business and competition has aided the broker work closely with his client to reach his goal both now and in the future.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
I am based in Sydney, but am currently in Bangkok. If you send me some details, I can work it out for you.
Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Either of these guys will do a sterling job for you.
Be careful with those big franchises. There are some great brokers working there but you are also likely to be allocated the new guy…. McBrokers I call them [biggrin]
They share much of their comissions meaning they need to do more loans than us smaller operators – you may end up being advised by little more than a factory..
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Originally posted by Nik T:Hi all [thumbsup2],
My name’s Nick, I’m 23 years old and I’m looking to start investing in properties in the very near future. I’ve been doing a fair bit of reading and property investing looks challenging, yet very fun and rewarding.
I’ve been viewing this forum for a little while it there seems to be a lot of great people here, who seem to be happy to share their info with others.
I had a question and just wanted to find out if anybody could recommend a good mortgage broker in the Sydney area.
If the information helps, I don’t own any properties at this stage, and haven’t got a specific property in mind. I mainly want to see someone who can let me know how much I can borrow and the best way of doing it.
Any advice will be greatly appreciated and I look forward to learning as much as I can from everyone on these forums.
Many thanks,
Nick
Hi Nick
I have just got the deal of a lifetime from a broker – Aaron Geffenius at xinc and his number is 0412 515 537. He is brilliant and is tireless in tracking down the best loan for you. he is the best and I have the laon to prove it. Tell him Lee and Nathan told you to call – he will work hard for you and you will be surprised by his customer service and his knowledge of loans.
Cheers
Lee[strum]
To both Nik’s and Leebee,
Quite frankly you are doing yourselves a great diservice if you don’t use one of the great brokers who post on this site.
With regard to mortgagechoice, xinc and any other of those groups, there is a reason why they need the backing of a franchise system to drive business for them. Indepependent brokers make considerably more money per loan, but have to be good to get work in the door, as they don’t have the marketing support of these groups.
I own a broking business, and I can tell you categorically that we have never lost when competing for a client with a franchise broker.
Regards
Alistair PerryOriginally posted by APerry:To both Nik’s and Leebee,
Quite frankly you are doing yourselves a great diservice if you don’t use one of the great brokers who post on this site.
With regard to mortgagechoice, xinc and any other of those groups, there is a reason why they need the backing of a franchise system to drive business for them. Indepependent brokers make considerably more money per loan, but have to be good to get work in the door, as they don’t have the marketing support of these groups.
I own a broking business, and I can tell you categorically that we have never lost when competing for a client with a franchise broker.
Regards
Alistair PerryHi Alistair
I got this loan prior to joining this site so dont think it fair to be questioned that I am not supporting the people on this site.
I have now made contact with someone from this site for other services and believe in supporting them but I feel that I am qualified to support this broker I put forward as he has found me a fantastic loan and one that suits me – not the bank – now that deserves praise.
I mean no disrespect to anyone here and I will support anyone that can offer me what I need…….but I will also let others know of the great service I have received elsewhere if it helps them to get the best for themselves as well…..! This broker is great at his job and at the end of the day we are all out to get the best deal possible – and I feel that is what he has done for me….so i am more than happy to refer anyone to him if it helps them….
Lee
Lee,
I am sure he is great.
Please don’t feel you need to support any of us brokers here just because we post a lot. That isn’t why I do it.
I meant my post against McBrokers in general only. There are some wonderful individuals in every organisation.
thanks for the referral – good brokers are hard to find these days.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
[exhappy] …. thank you Simon – I really did not mean it to come across as it did – I will support people on this site in future as I feel we need to support those that support us – namely business that is owned or run by the people on the site. I was just commenting on the great deal I personally got and how happy I was – so happy that I wanted to recommend Aaron to everyone else.
I am happy to support the people on this site and will where I can!!
Does anyone on the site do pest / building inspections? I have a quantity surveyor from here but desperately need the others to check out a place for me in Albury / Wodonga area by Friday – happy to use someone from the site!!
Cheers
Lee
Pest and building is one of those areas where the expert must be local. I am afraid I cannot help with that area.
I do have a super QS tho.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi Lee,
I’m glad you found a broker you are happy with. Please don’t take my post as accusatory, you are under no obligation to use anyone here. Having said this, the brokers on here put themsleves on the line every time they give advice, so it is pretty clear if you read a few posts whether they know what they are talking about or not. This is a pretty good filter I would think.
Regards
AlistairHi again,
Thank you all for the great advice and warm welcome, i’ve now got a good strating point.
Nick
Good luck Nick – I hope you find what your looking for!!
Lee
I’m in a similar situation as yours. 25, and looking to start investing in property.
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