All Topics / Help Needed! / To use a buyers agent?

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of TMTM
    Participant
    @tmaj
    Join Date: 2015
    Post Count: 13

    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

    Profile photo of RedwoodRedwood
    Participant
    @redwood
    Join Date: 2013
    Post Count: 340

    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
    Email Me | Phone Me

    SMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS

    Profile photo of TMTM
    Participant
    @tmaj
    Join Date: 2015
    Post Count: 13

    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.

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

    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 | 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 sampson_701sampson_701
    Participant
    @sampson_701
    Join Date: 2013
    Post Count: 20

    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.

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

    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 | 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 6 posts - 1 through 6 (of 6 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.