Hi guys.
I’m a first time investor and finally getting to a point where I have enough for a deposit on a IP. I’ve been doing lots of reading and know that there are other areas that seem to be growing better than where I live in regional Vic. One such area is south east Queensland.As I don’t live up there and have never bought an IP before I have been considering using a buyers agent.
I would love to hear the good, the bad and the ugly stories people have had with buyers agents in the past.
The magazines seem to recommend them a lot but at the same time every second page has an add for one so they might be slightly biased.
Of the ones I’ve researched it tends to be a $500 ish initial consult fee and then about another 10k until the whole deal is completed.
Would love to hear peoples experiences.
Cheers guys
Hi TM
If you live in regional VIC try looking at areas of Melb – do some research on this forum and propertychat and read peoples perspectives/ experiences, quite simply if you have time to educate yourself, you will be more informed to make your decision if you actually need a BA.
Cheers Ivan
Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
http://redwoodadvisory.com.au
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I have been doing research for about a year now and would feel quite confident getting a property in somewhere like Geelong. I want to make sure I get the right start however and if the capital growth elsewhere is going to be much better and I can get a buyers agent to assist then I would be happy to pay the fee.
Hi TM
@jacm who is a member on the forum here is a Buyers Agent who covers the Geelong area.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi TM,
I was in your situation less than a year ago. I decided to use a buyers agent not only for their services but also as a learning opportunity. There was so much involved in buying an IP that i didn’t know about. My buyers agent mentored me through everything and decision making. I felt much more at ease that I was starting out on the right foot. I learn’t so much and it was also an investment into myself. I also got good recommendations from the buyers agent on property managers, accountants, conveyancers etc that saved me hours of research myself to find the right team.
I don’t know if this helps, i know the $10k can be quite a bit but if I’d do the same thing again if I had it over – I feel more confident getting my next property on my own now.
Cheers.
In my opinion 10K is far too much for a BA.
We charge a maximum of $6000 + GST and provide a full service start to finish.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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