I understand that someone could sell you a property that they dont want but if you do your due diligence i think that you only have your self to blame if you purchase something that you didnt want
I agree, but every property I have ever bought or bird-dogged has been a property someone didn’t want, for whatever reason…..
joy to the world
Not sure I really understand this Aceyducey. You say that a birddogger is not a buyers agent. How did you come to that conclusion? They are basically doing the same job aren’t they? Just because they are referred to as a birddogger does not suggest that they are dong anything illegal does it?
A buyer’s agent I see a little differently, such as you may sign up properties ‘as agent’ for a client. Bird-Dogs on the other hand are just people who find deals for investors.
So if we found a deal for investors and hadn’t signed them up, as I used to do, there was always the possibility that the client thought about it for a bit, then decided yes, but the deal was gone. Or else, that the client says ‘yes thank you very much for that information’ and signs it up direct, therefore we did the work to present the deal and the client took it but we were cut out.
So what we do is sign the deal up OURSELVES and/or nominee. Now I don’t know if this would work in Aus or incur double stamp duty, but it most certainly works in NZ, where stamp duty is set to zero dollars.
It is quite common that in NZ even if signing up your own deals that you sign it in your own name and /or/ nominee, and then direct settlement to a trust, foundation or company structure (whatever) often, that may not even be created yet.
What we like about this method is that we have actually SECURED the deal and almost always, the price and terms we negotiate are better than what others can achieve in the current market, not to mention the access to our team to assist doing whatever needs to be done, be that organise valuers, builders, or quote for repairs, appoint who we think is the top rental manager, help the client get a solicitor if they don’t have one, liase with their finance and source all the documentation they need (well usually it all goes out with the deal, anyway) – that sort of thing.
We make no claims that we are financial advisors, and though we sign up only deals that we think are good buying, we say why – every deal is different. Some are CF+ve and with a huge flat development site and in a good area with a tenant in place for 4 years like the one we sent out last night. Others have for example a head lease with the hospital. Others might come with a registered valuation that the vendor provided which proves the price is under valuation (i.e. a good thing) plus being CF+ve. It just depends on the deal, but we think all our deals are good and so must our clients, because so far it’s been over 6 months since we last had a deal that didn’t sell within a day if not hours and sometimes minutes of being released to the list.
cheers-
MiniHi AceyDucey,
I think you have come on a bit strong about the services that mini offers. Have you ever dealt with her or purchased a property that they found for you.
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You may have some legitimate concerns about the way this industry is growing in the absence of regulation. However, does it really need to be regulated. People are buying houses where what you see is what you get. It is up to the buyer to do their due diliegence to their satisfaction before going through with the purchase.
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It’s great to have a strong opinion but to say “dodgy…….” is a bit strongKeep smiling
Don Nicolussi | Mortgage Broker - Home Loan Warehouse
http://homeloanwarehouse.com.au
Email Me | Phone Me"I think of finance as a technology, a way of getting things done." Robert Shiller
I try to help people and if people are sceptical they can easily not deal with me or others. With so many people trying to get a “good deal” some pick your brains, set up viewings with your contacts and then after working with them for a week they say”hey I can do this myself now……Seeya”. Where are the ethics then when I for one have had this sadly happen a few times when there are others who are crying out for help with getting deals and holding their hands through what to some is a quite daunting process.
So ok I have had people do the dirty on me and Im not happy about it. So do most service based industries. Not to worry, cop the odd one on the chin and move on. Thats cool with me but our hard work and efforts get so much negative press in here sometimes its easy to discern who will be successful by how they approach life and some discussions.
Always check out who you are dealing with, their track record, and please make sure they have runs on the board themselves.
Mini, Castledreamer, and Westan have all had good raps from several people so always be happy and lets all get out there and do something rather than bury ourselves in a discussion where the same effort in research could net you a nice IP.
Have fun, enjoy the sun, be creative and for Gods sake make money!!!!
DD[biggrin]
PS146 Certified Financial Planner
Don’t sweat the small stuff,and it’s all small stuff!!
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