All Topics / General Property / Buyers Agent

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  • Profile photo of Playa ChickenPlaya Chicken
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    SCOTT NO MATES – I always contract with lots of due diligence that I can back out on.  Have never been caught with a property I don't want. 

    LINAR – Amen. Thank you!!!!

    SHALES – Yes, bird dogging will definitely give you the confidence and you'll get really good at writing contracts!!   It also depends who you want to work with,  i.e.  the main audience you sell to.  My understanding of "buyers agent" in Oz is that you could be selling to mum-and-pop wanting a home to live in, i.e. a "purchase of the heart".  That is VERY different to what I do.  I only sell to investors, and the purchase is purely a bottom-line, do-the-numbers-work purchase.  Much more black-and white than selling family homes!!  Personally, I don't like the "advisor" role as I feel I could tell someone the wrong information that really doesn't work for them investment wise.  I find it much safer to just deliver what the buyer wants.  That said, I do work with advisors, but only on the finding end.

    Vicky

    Profile photo of LinarLinar
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    blogs wrote:
    Every man and his dog has been able to make money out of property over the last 10 years-hardley an amazing feat.

    So why isn't every man and his dog a property millionaire?  You must move in different circles to me.  I think that going from one investment property to financial independence in 3 years is a pretty amazing feat.  I don't know too many people who have done it. 

    Am I crediting the agent for all the properties I bought?  Hell no!  My husband and I put in a LOT of hard work.  When our friends were going away on holidays, buying nice cars and living it up, we were painting, renovating, researching and generally spending all our time on property.  We dragged our poor little daughter all over the place in the name of property investing.  We did the work and we will take the credit.

    Having said that, had I not used the buyer's agent, I wouldn't be where I am today.  Had I not started reading Steve McKnight, I wouldn't be where I am today.  Had I not been born, I wouldn't be where I am today.  Does that mean that I credit my parents for the properties I bought?  Of course not.  You are reading something into my post that just isn't there.

    Cheers

    K

    Profile photo of Playa ChickenPlaya Chicken
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    LINAR you've had legendary results and it's wonderful to hear your story.  Well done, you deserve the credit.

    Cheers,
    Vicky

    Profile photo of blogsblogs
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    Linar wrote:

    So why isn't every man and his dog a property millionaire?  You must move in different circles to me.  I think that going from one investment property to financial independence in 3 years is a pretty amazing feat.  I don't know too many people who have done it. 

    Quite simply becasue not everyone went out and bought as many properties as they possibly could. Easy as that. Anyone who levergaed to the max, used equity blah blah blah would be millionaires now from the last ten years no matter where they bought.
     
    Thats my point-sucess over the last year has been more a result of circumstance than any real skill. A fantastic result no doubt, and very much deserved by the sounds of it, but as for agents-well achieve those type of results over the next three years then I'll be impressed…

    Profile photo of Scott No MatesScott No Mates
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    blogs wrote:
     

    Thats my point-sucess over the last year has been more a result of circumstance than any real skill. A fantastic result no doubt, and very much deserved by the sounds of it, but as for agents-well achieve those type of results over the next three years then I'll be impressed…

    There are good opportunities out there and, I suppose, given the right guidance it is possible to make good $$ over that timeframe however factors such as leverage and finance are much harder to come by in the current market.

    Profile photo of Playa ChickenPlaya Chicken
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    BLOGS – you're right, achieving massive growth over the coming few years is going to be virtually impossible compared to the last 10 years, however what we are in NOW is CASHFLOW SEASON!!!!  It's currently not about growth, we are in the "winter" season of property, it is now all about CASHFLOW, CASHFLOW, CASHFLOW.  And, there is TONS of it out there.

    So, really, it's just a different strategy that needs to be applied to meet the requirements of the situation.

    My 2 cents worth!
    Vicky

    Profile photo of Scott No MatesScott No Mates
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    The risk being though is that we don't see a similar correction in rents as we have seen with property prices. This may be driven by the lack of affordability for the rents asked pushing renters into the discounted properties and leading to a rebalancing of the market.

    It is a double edged sword having seen a correction in property values (hence increasing affordability to purchase) we may soon see a correction on yield through lower demand.

    Profile photo of SHalesSHales
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    So, if I were to find a property that I believe could be positive cash flow (depending upon LVR of course), what would be my next step as a bird dogger?  I have a property in mind, and if I wasn't considering moving myself, I'd probably buy it.  Timing is wrong for me though.

    At what point (LVR / interest rate / ROI etc) does a property qualify to be called positive cash flow in the opinion of most investors?
    S

    Profile photo of Playa ChickenPlaya Chicken
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    SHALES – depends on what your buyer wants. 

    Most people I work with need/want a minimum of 10% under a live (recent) registered valuation, and 10% gross yield.  I have others who are happy to take neutrally geared as they are more interested in future growth and better quality property.

    Line up your buyer, then go find the property.

    Contact me via my website and we can take this out of the forum and go into more nitty-gritty details if you wish.

    Vicky

    Profile photo of blogsblogs
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    Playa Chicken wrote:
    it is now all about CASHFLOW, CASHFLOW, CASHFLOW.  And, there is TONS of it out there.

    So, really, it's just a different strategy that needs to be applied to meet the requirements of the situation.

    My 2 cents worth!
    Vicky

    Vicky-cashflow (and by this term I presume you are meaning positively geared properties) is a very short sighted goal-heck the banks are putting their rates UP even when the RBA are reducing theirs!! Wont take much to eat that up. No matter which way you look at it interest rates are going to go up, inflations IS going up and will go up a lot more and property that is already 7 times annual wage will have no room to grow anymore. The only way is down down down my sheep loving freind…

    Reduce debt, square up your finances and get ready for the bargain of the century following the bubble of the century

Viewing 10 posts - 21 through 30 (of 30 total)

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