- DGParticipant@dgchampJoin Date: 2015Post Count: 2
Hi Smart People,
This post is out of a bit of frustration as not acting quickly. Let me admit that I’m first time investor and just learning all things and everything related to real estate investment. But my negotiation skills are not in my favour.
I’m based in Melbourne and got 100k to invest. Initially the plan was to do DIY but seems like I need some helping hand. So after almost spending 1 year in market, I have decided to seek some help from buyer advocate.
My questions are:
– How can I judge whether appointed buyer advocate is trustworthy and will deliver result?
– With money in hand (100k), I am planning to buy between 500k – 600k property. What should I expect to pay an advocate?
– Is it OK to hire an advocate inter state?
– Is it find to have investment property in other states?
Any valuable advice is welcome. If you are in my position what would you do?
DGTony FlemingParticipant@the-dark-knightJoin Date: 2008Post Count: 396
As a BA I’m happy to help answer your questions.
– How can I judge whether appointed buyer advocate is trustworthy and will deliver result? Checking their licencing credentials is a must, this can be done on the fair trading website. With hiring any BA I’d ask about their portfolio, style of investing, previous purchases for clients, results of previous purchases, if they are receiving any kickbacks/referral fees and what contacts they have in the designated area.
– With money in hand (100k), I am planning to buy between 500k – 600k property. What should I expect to pay an advocate? Fees vary depending on states but as a rough guide anywhere from 1% to 2% on the purchase price.
– Is it OK to hire an advocate inter state? Yes.
– Is it find to have investment property in other states? Plenty of investors spread their portfolio over multiple states. It’s a good idea not to have all your eggs in one basket. I have multiple properties in Sydney, regional NSW and Adelaide. It works well as you are not stuck relying on one market cycle.
Hope this helps.
JaxonParticipant@jaxonaJoin Date: 2014Post Count: 284
- This reply was modified 4 years, 2 months ago by Tony Fleming.
Mate I would have my own advice and offers, but if you where happy to pay 1 or 2% on 500k, its only $10,000k through Binvest and fairly sure they have a really high level of success and help their clients get multiple properties in short time, all under market value and think all with positive or netural cash flow.
But in regards to having a chat about exactly what your after I have a fair amount of experience and am a qualifed RE Agent (buyer and selling agent), Mortgage broker and Financial Planner, Happy to have a chat and answer any questions or work something out if that is what you wanted.
0431376130 – Jaxon
Jaxon AveryJamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069