MattyCParticipant@mcrockerJoin Date: 2014Post Count: 2
Wondering what peoples advice is around using buyers advocates. I am at a position now where I have my PPOR and 1 investment property and ready to take the next leap onwards…I live in Melbourne and I am interested in buying interstate. Do people see a lot of value in bringing on a buyers advocate or some other form of property investment specialist? Ideally I would like to form a relationship with someone who is solid, reputable and most importantly honest and transparent.
I must admit I steer clear of these free seminars, workshops, etc. that seem to flood my inbox after signing up with property investment magazines and other property investment websites. Maybe some people have had success going down that path but I feel it’s too used carsales like for my liking.Jamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069
BA’s have their place – and if you’re buying interstate and don’t have the time/knowledge to source you’re own deal than it can be money well spent.
Like any service profession, there’s good and bad performers so do your due diligence.
Where are you looking to buy?
JamieMattyCParticipant@mcrockerJoin Date: 2014Post Count: 2
Yes I know, I can make the time if needed but as with anything. Forming a strong relationship with someone who does have the expertise and is due diligent would be beneficial in the long run. I can only read so much information, so bouncing ideas off someone else who I can trust and listen to their advice would come in handy. I am going to connect with some local Meetup groups in Melbourne as well, perhaps some advice and recommendations will come through that avenue.
Honestly, I haven’t started researching in depth. I know capital cities are off my radar for this one and ideally positively geared for this one.Mark CoburnParticipant@mark-coburnJoin Date: 2006Post Count: 181
What type of property are you looking for? Do you have a strategy or would you like some help working out a strategy and looking at your options?
superAndrewParticipant@superandrewJoin Date: 2014Post Count: 188
- This reply was modified 5 years, 6 months ago by Mark Coburn.
Forming a strong relationship with someone who does have the expertise and is due diligent would be beneficial in the long run. I can only read so much information, so bouncing ideas off someone else who I can trust and listen to their advice would come in handy.
You can get some good advice from different members on this forum and the somersoft forum and it won’t cost you anything.
All the best
superAndrew | Property Analyser and Finder Tool
https://property-analyser.com.autom123Participant@tom123Join Date: 2013Post Count: 91
why do you want to buy interstate? why not outer melbourne area? for cashflow ?TheNewGuyParticipant@thenewguyJoin Date: 2014Post Count: 151
It sounds like you’re in the exact same situation as me about 6 months ago when I came to this forum and posted a similar post! You could probably find it if you do a search. In the end I went with the BA and I’m happy. I did go through a few other options, financial advisors etc that I found didn’t really align to what I wanted. For me, it was worth the investment. I’ll PM you my experiences.LISAQLDParticipant@lisaqldJoin Date: 2014Post Count: 1
Do you know any good BA? Where to find them? I have been to a couple property seminars. I think they just tried to sell you the properties, not really on buyer’s interest.DwightParticipant@bigvmanJoin Date: 2002Post Count: 42
I did use a buyers agent about 5 years ago in Sydney. Being from Melbourne it was good to have eyes on the ground. All we were looking for was a unit close to the city that had potential for capital gain.
We didn’t have expertise in the area so we went the BA route. To be honest I was expecting to be ripped off, but the guy was pretty spot on with his property selections and in tune with what we were looking for.
We were able to put in an offer on a unit that hadn’t been advertised or shown yet. It was pretty grotty so we were able to get it below fair value for a comparable unit (IMO). We did a cosmentic reno and sold about 12 months later for profit.
So I’d say it may work for you if it’s interstate and you’re clear what you’re looking for.
The BA we used was Gavin McPherson from Oasis Property. Google is your friend. I have no affiliation with him but I would recommend to anyone in a similar situation to me.
Cashflow Positive Investor