klearpicture.com.au & other buyers advocates?

hi everyone,

We've been browsing these forums for a while now...about to begin our property investment journey (Melbourne based).

With two very young children, we're very time poor and have been looking into the services of a buyers advocacy such as Metropole, Advantage Property etc

I found Klearpicture (www.klearpicture.com.au) linked to from propertyupdate.com.au

Has anyone had any experience with or knowledge of Klearpicture at all - I've not seen anything on here?

Are there any other Buyers Advocacy's in Melbourne we should look at?

thanks in advance
 
Hi & welcome, what kind of IP do you want (unit, house, development site, OTP etc) and in what area? The different BAs tend to specialise a bit.
 
Metropole are (as far as I know) the largest buyers advocacy in Melbourne and I can only speak very highly of them.

This year alone I have purchased 2 properties in Melbourne with the help of Metropole and I am currently looking to purchase a 3rd property in Brisbane with Metropole.

Jack Henderson and his team of highly experienced and professional buyers agents are top notch.
 
hi Twitch

anywhere to give me excellent, year on year, capital growth

so presumably within 12km from CBD (based on the Property Expo seminars we went to !)
 
I made an enquiry with Wakelin Property, received a phone call and have made an appointment to see them. The rep sounded rather alloof.

I made an enquiry with Metropole at the Expo. Someone from Metropole rang and I missed the call. They left the number via SMS and rang the number back. As I didn't know who it was the receptionist went on to tell me that there were 34 people working there and if it was important they will call me back.

I'm going off the idea of using a BA!
 
I made an enquiry with Wakelin Property, received a phone call and have made an appointment to see them. The rep sounded rather alloof.

I made an enquiry with Metropole at the Expo. Someone from Metropole rang and I missed the call. They left the number via SMS and rang the number back. As I didn't know who it was the receptionist went on to tell me that there were 34 people working there and if it was important they will call me back.

I'm going off the idea of using a BA!

You're luckier than me, attended a Metropole seminar, filled in a form requesting a call from a BA, never heard back.

They may have been too busy, but a quick note or text would not have
gone astray.:mad:

Regards
Peter
 
A BA isn't always necessary. Many people so perfectly well just researching and buying themselves.

There are good BAs out there, of course, but there's nothing wrong with going out there, researching, and buying yourself. If you want to use a BA later on, you can do that too.

Think multiple properties.
Alex
 
I've used a BA in the past, Metropole in fact, but the situation was a flat market (Melbourne 2005) and in a suburb where private sales were the norm.

As I see it there are 2 problems with using a BA in inner Melbourne at the moment.
1) In a booming market TIME is the number one enemy. Problem is in a booming market BAs may have a queue of people waiting for their services. It may be 4 to 6 months before they secure you a property.
2) BAs negotiation advantage is basically eliminated by an open auction process, and almost everything in inner Melbourne is going to auction these days.
 
Diy

Hi Younginvestors,

Another thought for you. Do you live in inner-Melbourne? If not, how's your local area?

I have two young kids and find it much less time consuming to research our own local area. Trying to get into the city is a real drag for us at the moment. You may be able to find some excellent investment opportunities within 12km of your own home.

Metropole constantly state that excellent, year on year, capital growth can only be achieved within 12km from the CBD but I'm yet to find any evidence to support it.

Richmond has done really well in 2007, as has Rosanna.
Carlton has done really well in 2007, as has Cheltenham.
Footscray has done really well in 2007, as has Forest Hill.
Over the last 10 years all of these suburbs have grown at an average rate of approx. 10%.

You could buy two properties in Heathmont for the price of one in Hawthorn - diversifying your tenant risk. Something to think about.
 
Metropole constantly state that excellent, year on year, capital growth can only be achieved within 12km from the CBD but I'm yet to find any evidence to support it.

Richmond has done really well in 2007, as has Rosanna.
Carlton has done really well in 2007, as has Cheltenham.
Footscray has done really well in 2007, as has Forest Hill.
Over the last 10 years all of these suburbs have grown at an average rate of approx. 10%.

You could buy two properties in Heathmont for the price of one in Hawthorn - diversifying your tenant risk. Something to think about.

We're starting to go in a spin! This is something we're now considering....purchasing some reports on growth areas and do it ourselves.

After all do we need to spend $10k and wait 6 months to get a BA to find us somewhere if we can do it now and get growth immediately.

Should we be chasing the 10%+ growth in the supposed inner suburbs or go further out in our surrounding area and get 7%....at least if we have an IP its getting a return
 
Before you purchase the reports, have a look at some of the data that's available for free. For starters check out http://realestateview.com.au/median/. I think you'll find that in the June 2007 quarter, most inner Melbourne suburbs, and some outer suburbs, did very very well.

If you can get hold of a copy of the January 2007 Australian Property Investor mag you will find that may outer suburbs out-performed many inner suburbs for growth over the last decade. Why won't this happen again in the next 10 years?

Perhaps there is a major infrastructure project in your area that you could investigate? I'm a beginner and I invest in Eastlink suburbs (seems like a low risk place to start). When Eastlink is done and dusted then we may have to look further a field (armed with our new skills).
 
It'll Never Appreciate: The Skit

I made an enquiry with Wakelin Property, received a phone call and have made an appointment to see them. The rep sounded rather alloof.

I'd love to write a skit about a hypothetical meeting between a newbie investor running some ideas past an inner-city BA.

It might go something like this:

I: Hey, I've found a few properties for sale and wanted to see what you thought.

BA: Sure!

I: There's this house in Reservoir, on main road but with rear access garage. Near thriving shopping strip. On 1200 m2 of land, council says I could put three units or go commercial given it's on main road. Asking $300k which I thought was not bad given the next suburb in is $120k more and nothing under $350k has recently sold in the street.

BA: Isn't that the other side of the Yarra - near Thomastown? Ooh we don't go there. Don't buy that dump. It'll never appreciate.

I: Then over in Warragul I found this block of 6 units. Nice side of town, good repair, excellent tenants. The new rail has just started and the bypass will speed driving. I've just seen plans for some big companies moving in needing accommodation and the PMs say they've got nothing. Currently 10%+ yield and the vendor most sell quickly.

BA: Where the hell's Warrangil?? Redneck country? Not the place I'd want the groom for my daughter to come from. Positive gearing's the biggest rort known. It'll never appreciate.

I: And out at Melton, there was this 1988 3 bedder going for $120k. Rented at $180pw, on a month to month. Vacant blocks further out but smaller go for $130k. It's on 900m2 near sought-after private school. I think it could get $200pw.

BA: Bogan country. No cafes out there. All single mums on social security. Depreciation's a trap you know. You don't know who you'll get as a tenant. Give it a miss. It'll never appreciate.

I: Oh another went past yesterday. 1950s clinker brick home in Bentleigh. House itself is OK, but front yard is daggy. A new fence and some paint would work wonders. Renting at $450pw. $370k they want even though next door just sold for 100 grand more.

BA: Still more than 10 km out. Another dud. It'll never appreciate!

I: So what is good?

BA: Just come on the market is this lovely 1 bed apartment in Elwood in block of 10 with active body corporate. $380k in quiet street. Gonna grow 10% pa, like it has for the last ten.

I: But what's the rent?

BA: We think it would get $250pw. Rentals are scarce.

I: Let's see - $30k interest and $12k income. Add some more expenses and take off some deductions. Hmmm - I'm still down nearly $15k, and I want to get another IP next year.

BA: But you can afford that can't you?

I: I'm on $50k pa so it could be a struggle.

BA: Oh, you poor thing. How can you eat? Our secretary must have made a mistake. Normally we only talk to people on over $100k pa! We don't recommend you buy anything!
 
Last edited by a moderator:
Brilliant, Peter. The scary thing is, younginvestors, he isn't exaggerating by much. SOME buyers agents specialise in certain types of properties, to the exclusion of everything else. They don't know about other types of properties, and they don't want to. You have to decide whether the BA's philosophy matches what you believe. Because in the end, the key is holding properties for the long term, and you'll only hold for the long term if you believe in it.
Alex
 
David McMillan was very helpful and exceptionally professional.
http://www.acquise.com/who_we_are.html
He was unable to complete our agreement but I wouldn't hesitate to use him if I needed to in the future.
If you are time poor he is your man, though you will still need to be knowledgeable enough to say yes at the appropriate time for the appropriate property.
If you have no idea of the market it will make it very difficult .

I think it would be foolish to commit to someone else without at least speaking with him in person
 
It'll Never Appreciate: The Skit

Funny stuff that!

I'd love to know why these people keep making claims that the inner city will always perform better than suburbs outside of this zone? Any ideas? It's not supported by previous growth statistics.

I just can't see what's in it for the buyers agent, the investor or the developer to be so exclusive.
 
Funny stuff that!

I'd love to know why these people keep making claims that the inner city will always perform better than suburbs outside of this zone? Any ideas? It's not supported by previous growth statistics.

I just can't see what's in it for the buyers agent, the investor or the developer to be so exclusive.

They then get to claim they're an expert in the inner city area and immediately kill off a lot of potential areas for the investor. Much less work.
Alex
 
They then get to claim they're an expert in the inner city area and immediately kill off a lot of potential areas for the investor. Much less work.
Alex

Also:

* It takes the same amount of work to find an expensive IP as a cheaper IP

* A $10k fee on a $600k inner suburban terrace is proportionately less objectionable than one on a $200k outer suburban house or unit. Because (according to them) the outer suburban house won't appreciate negative equity against all puchasing costs (including the BA's fee) is a real risk.

* Generally there is less differentiation in outer suburban house prices than in the inner suburbs so for the former it's easy for a layperson to estimate values without a BA.

* If BAs are like doctors then they will have their social cliques, clubs and private schools so won't go more than 10km from Brighton, Toorak or Kew (despite shortages in outer and country areas).

* BA's clientele might similarly be skewed by those areas and may not want to be challenged too much by buying elsewhere.

Luckily independent investors are not bound by any of the above, so have a greater choice available if they're willing to do the work.

Peter
 
It's a shame that so many starting out investing miss out on many of the best opportunities because of the blinkered attitudes of some of these "professionals" and self proclamed gurus.

Sometimes you just wanna smash the radio when you hear them crapping on about how their way is the only way, and how all other property types are doomed.
 
Back
Top