All Topics / Finance / what is a “broker”

Viewing 17 posts - 1 through 17 (of 17 total)
  • Profile photo of as41as41
    Participant
    @as41
    Join Date: 2005
    Post Count: 108

    I always thought a broker found loan deals for you. Is this all they do. What else are they good for?

    Snowflake

    Profile photo of maximusmaximus
    Member
    @maximus
    Join Date: 2003
    Post Count: 189

    What is a Broker???

    The opposite of a Richerer maybe??

    Profile photo of DerekDerek
    Member
    @derek
    Join Date: 2004
    Post Count: 3,544

    Hi as41,

    I just spent an hour with my broker and we looked at all sorts of issues relating to finance for my property portfolio.

    We looked at extending LOCs and the impact of this on future borrowings, we looked at options with respect to releasing titles and the impact this would have my borrowings, we looked at the impact of changing existing home loan to I/O and the impact this would have on borrowings and so on.

    The time was very valuable as I now have the next steps planned.

    A good broker is more than just a sourcer of loans.

    Derek
    [email protected]
    http://www.pis.theinvestorsclub.com.au
    0409 882 958

    Profile photo of brahmsbrahms
    Participant
    @brahms
    Join Date: 2004
    Post Count: 485

    coffee…i’m always good for coffee.

    cheers

    brahms
    Purveyor of Fine Finances
    aka Mortgage Broker Brisbane

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    As Derek mentions a good broker is more than just a form filer.

    A broker works with you to achieve your goals and thinks on your waive length.

    He will provide you with options, suggestions and solutions as well keeping you informed as to the changes in the market with regards to new entrants, products and interest rates.

    I like to think with my clients that they come to me because they get a quality service as well as a fellow investor who can think outside the square and give them ideas as well asssit them with other areas of investment.

    Richard Taylor
    Residential & Commercial Finance Broker
    Ph: 07 3720 1888
    [email protected]
    http://www.yourstatefinance.com

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    100% Investment Finance now available on selected properties. Email us for further information.

    Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    007’s reply is why I see a broker rather than the bank

    They’re an integral part of your team.

    Once my new valuations are in I’ll be talking to the brokers again, a mortgage broker who is also an investor or regularly deals with them is a bonus..

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of grossrealisationgrossrealisation
    Member
    @grossrealisation
    Join Date: 2005
    Post Count: 1,031

    hi as41
    Interesting post.
    whats a broker ??
    whats a broker thats uses multipul brokers to get the deal he wants.
    and whats a broker that uses multipul brokers to get the deal and is the customer.
    well thats me.
    and yes I am a broker/developer/owner/business person.
    and don’t post me to deal as I only deal my own deals.

    as for find deals? sorry but I find the deals and then the broker organises the lend to suit.
    brokers fill a very valuable position and you must have one in your management team don’t know your state( and not worried)but get one in your group.

    here to help
    If you want to get involved in some of the projects I’m involved in email to [email protected]

    Profile photo of grossrealisationgrossrealisation
    Member
    @grossrealisation
    Join Date: 2005
    Post Count: 1,031

    whats a Richerer.
    maximus

    here to help
    If you want to get involved in some of the projects I’m involved in email to [email protected]

    Profile photo of catacata
    Participant
    @cata
    Join Date: 2005
    Post Count: 559

    Hi GR

    A Richer is the opposite to a Broker.

    CATA
    Asset Protection Specialist
    [email protected]

    Profile photo of grossrealisationgrossrealisation
    Member
    @grossrealisation
    Join Date: 2005
    Post Count: 1,031

    thanks Cata
    we all learn

    here to help
    If you want to get involved in some of the projects I’m involved in email to [email protected]

    Profile photo of as41as41
    Participant
    @as41
    Join Date: 2005
    Post Count: 108

    where do I find one of these brokers????I am in sth east suburbs of Melbourne……Obviously they should be independant and not linked to any banks CU’s etc…[withstupid]

    Snowflake

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781

    The best way is to ask friends and family for a referral to someone they trusted and were impressed with. There are some cowboys in this industry and others with little real knowledge of the industry.

    If you have trouble I can suggest one in your area that I have known for a long time.

    Cheers,

    Simon Macks
    Residential and Commercial Finance Broker
    ***NODOC @ 7.15% to 70% LVR***
    [email protected]
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of as41as41
    Participant
    @as41
    Join Date: 2005
    Post Count: 108

    where do I find one of these brokers????I am in sth east suburbs of Melbourne……Obviously they should be independant and not linked to any banks CU’s etc…[withstupid]

    Snowflake

    Profile photo of as41as41
    Participant
    @as41
    Join Date: 2005
    Post Count: 108

    sorry for double posting…..Hence “I’m with stupid”!!HaHaHa

    Anyway, part of my story is that I have grown up in an environment and family where money matters were never discussed or strategies about…I have no one in my family who has any experience with inveting or brokers….etc.. etc….many of you can probably realte to that….

    Is a broker used in conjunction with a good accountant….Our last accountant was crap-not innovative, not open enough to discussions, knew only how to walk one way/.. along one road…etc…

    I would appreciate any recommendations on accountants and brokers in my region from forumites..preferably not in the city through, I am fairly far out in the east ie: yarra valley area…….[withstupid]

    Snowflake

    Profile photo of Alistair PerryAlistair Perry
    Participant
    @aperry
    Join Date: 2004
    Post Count: 891

    Hi Snowflake,

    As far as an accountant goes, I highly recommend Morry Kalkopf from Guests Accounting in Caufield 03 9509 7033. Guests work for some of the largest property investors in Melbourne and have provided me and my business with terrific service. I have also referred a number of other forum members to Morry and all of them have also been very happy.

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781

    Well you are doing the right thing in looking for a new accountant.

    There are also some great books you can read as well as this forum.

    There are also investing groups in Melb that you can join. They are generally like minded individuals sharing info. Don’t go to any run by property marketing groups as they are onbviously just trying to sell you stuff – and usually stuff that cannot sell itself!

    Cheers,

    Simon Macks
    Residential and Commercial Finance Broker
    ***NODOC @ 7.15% to 70% LVR***
    [email protected]
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    If you are looking for a good broker in Melbourne you can’t go past

    Steve Crane
    Mortgage Broker

    Mobile Mortgage Market
    Ph: 0402 483 216
    [email protected]
    http://www.mobilemortgagemarket.com.au

    He is a regular contributor to the forum so i am sure he wont mind me cutting and pasting his contact details here.

    Richard Taylor
    Residential & Commercial Finance Broker
    Ph: 07 3720 1888
    [email protected]

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    100% Investment Finance now available on selected properties. Email us for further information.

Viewing 17 posts - 1 through 17 (of 17 total)

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