Hi everyone
I would appreciate some advice on building a team of professionals to do my business with when investing in property.
Perhaps its something other newer/less experienced investors would like to know also.to my knowledge, albeit limited, i will need to ensure when looking at my first buy and hold/trade, i have ;
an accountant experienced in property portfolio structuring
a mortgage broker (preferably with a portfolio of there own)
a real estate agent (the same one to buy through and to do my sales or seperate? if anyone could share some advice on this i’d be very grateful)
is there anyone in particular i may have missed from my initial stages when setting up?
It would be great to know who i need to start building business relationships with and make myself known tothankyou for your input guys
Ben
Hi Ben
Here are a few ideas:
ACCOUNTANT: Bruce Whiting, Business Artisans P/L, Ph: 02 9521 6942
LAWYER: Tony Cordato, Cordato Partners, Ph: 02 8297 5600
BROKER & FINANCIAL PLANNER: Richard Taylor, Residential & Commercial Finance Broker, Ph: 07 3720 1888
BROKER: Terry W and the other great brokers you'll find in the Finance (& other) sub forums on this site.Also, search around for the best Building and Pest inspection services you can find. There is new technology available in the pest inspection business and we find it useful.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Hi Paul,
thank you so much for the contact details, of course, i missed out lawyer, i understand they are an important part of the property game.
is there anyone i might have forgotten to think of?thanks again
Ben
Ben and Mina,
In regards to the real estate agent you could use the same but I do not see it as a necessity.
I believe it is important to use a local real estate agent when selling as they should have the best knowledge and access to potential buyers.Paul,
Would you be able to elaborate on the pest inspection technology and how you find it useful.
Cheers,
DaveDave,
thank you for the input, absolutely it makes sense, i take from it that where ever the particular house is i am buying or selling, that agent would have the most knowledge on that area, market rental etc.thanks again
Hi
Some pest inspectors now have access to thermal imaging technology, to catch white ants in real time. They still do the other forms of inspection, so we're working on the basis that it's another tool in the inspector's tool kit, so why not use it.
We find there are two general types of real estate agents. They are:
1. The one that tells you everything, including what the vendor will finally accept. They just love to talk.
2. The one that presents the property and in answer to a question regarding what the vendor will take, let's you know that they're expecting the asking price. They also give you very little of the vendor's "story".We would use the second type if we were to ever sell a property via a real estate agency. The first type are worth gold to a purchaser and we make a point of getting to know them and using their services whenever we can.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Solicitors depend on the state of purchase I use one in Tassie for all of tassie, another for Qld work etc. I would suggest that you need to do some research to find a select area then simply target agents that deal in that area, call them about their current listings and then quiz them about infrastructure and new schools/shopping centres or possible rezonign that may affect the area.
What I usually find is that 5 agents will each give you a piece of the puzzle, and then from the accumulated data discern if the area has missed a growth cycle and is due to double in 10 years to catch up, or has had its run and even though it may look lovely with a zero crime rate, the cheapies down the road offer better cash on cash potential return for you, with or without a reno.
Its all about what is comfortable for you so dont be swayed by one source of information.
Good Luck
DD
DD,
thankyou for the input, really good ideas! i think speaking with numerous agents in the one area will give a far better understanding and one might tell you something another agent decided to leave out!
thanks again
DD,
thankyou for the input, really good ideas! i think speaking with numerous agents in the one area will give a far better understanding and one might tell you something another agent decided to leave out!
thanks again
You must be logged in to reply to this topic. If you don't have an account, you can register here.
