For 45k I would look at what potential sellers eat for breakfast lunch and dinner and what brand of tea they drink! Even throw in preferred newspaper and favourite sporting team
I have a friend who got a commission almost that big in a similar industry recently, that was for a property in the 5M+ price range however where that sort of fee begins to make a little bit of sense.
On a serious note a reasonable rule of thumb for a maximum fee for a buyers agent should be around the 2.2% of purchase price level in my opinion, there is quite a bit of difference in fee structures out there however. Do your research as in everything involved with spending your own hard earned money!
meh…
AndrewH wrote:meh…Meh… What?
Meh you can't be bothered reasearching?
Meh it is too hard?If this is the case then you don't deserve 10% returns let alone a cash flow positive property.
Dave
siraitken wrote:AndrewH wrote:meh…Meh… What?
Meh you can't be bothered reasearching?
Meh it is too hard?If this is the case then you don't deserve 10% returns let alone a cash flow positive property.
Dave
Another poster 'shoutfromtherooftops' or something along those lines was posting some abuse and I think 'meh' was his reply, after that the post got deleted, pretty sure it wasn't aimed at the people giving advice.
Cheers
Scab
Yes it was not for the advise it was a reply for a comment some idiot made. Iam deffinatley doing some research and have been since my plan occured to me 2 weeks ago, Im going to meet with a Leigh, and ask him for some stragetic advise aswell as loan advise tommorow.
Wow AndrewH … if I had $45,000 to spend I wouldn't be giving it to someone to find me a property … I'd be investing it in that property! I appreciate your drive to achieve properties in a small precise point in time, but I think with some research, read lots, surf the net, do some courses, talk to people and forums like this one and you'll probably learn enough to get you where you want to be in time.
I'm sure there are many investors out there who haven't needed to spend $45K to get themselves to where they want to be … and there are many who will take the money from you if you're impatient to part with it!
Beware of wolves in sheeps clothing!
Any buyers agent that cant do his service for you for a reasonable fee is plainly ripping you off. I charge a flat fee of $4k per property deal and I also supply building and pest contacts, discounted solicitors and rental managers that discount for my clients. A list of maintenance contacts and for those investors that want a bit extra I do their renos for them down the track. (reno's are a separate fee).
Sounds to me like this guy s rubbing his hands together. He may have 8 people in his team, and thats then easy to work out. They each get $5k and so does he for setting up the deal. Nice for them, crap for you.
I hope this helps
DD
OMG, for 45k you would almost want a stool sample and urine sample as well, I don't mean to be disgusting but it really smells.
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