Hi everyone!
I am looking to buy my first IP. I admit to not knowing enough to take this first step without any help.
However, who do I go to for help? I am looking for someone who will help me find what I am looking for, without being hit with a very large bill before and after the fact.
Whose services would you recommend and why? Who have you used?
I am located in Sydney.
Thank you!
I'm biased but you should probably start with speaking with a mortgage broker that deals with property investors. He/she will be able to assess your situation and advise on how much you can borrow to purchase yourinvestment property, etc. This shouldn't cost you anything (most of us are paid a comission from the lender you decide to get your loan with).
There's plenty of books (Jan Somers, Margaret Lomas, Michael Yardney, Steve McKnight to name a few) that are worth reading. Forums like this also offer a wealth of information.
Once you're clued up, you'll have a better understanding of what you're looking for in an investment property. You can then either search for it on your own or enlist a buyers agent (which will cost you some money but their expertise may land you a better deal than you could find on your own).
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
As Jamie has mentioned we write with slightly a biased view however in saying that most mortgage brokers dont charge fees for their services so certainly wouldnt be getting any unsuprising bill from me.
Now if you are after someone to source the property for you probably look to engage a Buyers Agent but remember choice one who declares his fees to you upfront so you know exactly what you are up for.
Let me know if you are interested in the Central Coast / Newcastle area and I can put you onto an excellent Buyers Agent who is a forum member and top bloke to boot.
Never had a finance issue with any deal of his we have financed for forum members.
Cheers
Yours in Finance.
Richard Taylor | Australia's leading private lender
Thanks Richard and Jamie for your comments.
I know how much I can borrow, I have spoken to a broker about that.
I also have an idea of what type of property I am looking for and I know the suburbs I prefer (low property cost however still higher rents)
What I don’t have enough of at the moment due to work commitments and not living in the suburb is time to have a look around and speak to all the real estate agents.
Therefore what I am looking for is someone who will listen to what I would like to achieve, and help me find the appropriate IP. Ie. a Buyers agent as you said Richard.
I am looking for somewhere in Western Sydney. Do you know of any good agents around here ?
Thanks again for your comments!
Received a price from a buyers agent in Perth, it was 12k, to give some idea.
I don't even know if that's a good/bad price.
What part of Sydney are you from?
I'd recommend attending some meetings with like minded investors. I think you need to get your head around investing first and decide what direction you want to take. Jumping in and getting a buyers agent before you have any basic info doesn't make sense to me. But then I'm not selling anything.
There are a few in Sydney. Some have social meetups too which are good.
Qlds007 wrote:As Jamie has mentioned we write with slightly a biased view however in saying that most mortgage brokers dont charge fees for their services so certainly wouldnt be getting any unsuprising bill from me.Now if you are after someone to source the property for you probably look to engage a Buyers Agent but remember choice one who declares his fees to you upfront so you know exactly what you are up for.
Let me know if you are interested in the Central Coast / Newcastle area and I can put you onto an excellent Buyers Agent who is a forum member and top bloke to boot.
Never had a finance issue with any deal of his we have financed for forum members.
Cheers
Yours in Finance.
whos the person on the central coast that you recomend?
Jamie M wrote:I'm biased but you should probably start with speaking with a mortgage broker that deals with property investors. He/she will be able to assess your situation and advise on how much you can borrow to purchase yourinvestment property, etc. This shouldn't cost you anything (most of us are paid a comission from the lender you decide to get your loan with).There's plenty of books (Jan Somers, Margaret Lomas, Michael Yardney, Steve McKnight to name a few) that are worth reading. Forums like this also offer a wealth of information.
Once you're clued up, you'll have a better understanding of what you're looking for in an investment property. You can then either search for it on your own or enlist a buyers agent (which will cost you some money but their expertise may land you a better deal than you could find on your own).
Cheers
Jamie
It is natural that you’re biased. Well, at least you gave a good advice there. Cheers!
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