Yes I did DD on this agent, cane highly recommended here. Anyway he's referred me to someone else, I'll keep looking myself for now. For me a BA is necessary as I can't get to Brisbane easily, airfares and accom alone will cost $2000-3000 as I have to bring the kids, so essentially I'd only be paying $7000K for a BA.
I personally do my own DD, organise a return air ticket, accommodation, car hire, fuel, food, drink etc and fly over usually for 7-10 days to make inspections and offers. Basically, I can do all of this for under $1800 which isnt really coming out of my pocket as its paid via equity from my LOC funds (OPM).
In that time I get out & about in my chosen areas identified by my previous Macro DD. Then inspect everything that meets my purchasing criteria at the Micro DD level.
If I see a property that exceptional I will put in an offer there and then, otherwise I will bring all my micro & inspection notes back to Perth, then over the next weeks pick the best of the crop and make an offer remotely from here.
The offer/contract process I conduct by phone, fax, email & registered express post. Once an offer is accepted a signed contract copy is forwarded to my mortgage broker to get the loans process under way. We have a number of brokers we use. Last purchase we used our broker here in Perth but on other occasions we have used our Brisbane based broker. Geographically it doesn't matter where your broker is based. I have no loyalty to any one lender - preferring to spread lenders.
I also immediately forward a copy of the signed contract to our Solicitor to start their side of the conveyancing process. We always use a Solicitor / Conveyancer that is located locally the state the property purchase is in because they are familiar with the settlement process system for that locality.
I then organise the relevent contractors / agencies required in relation to fulfilling our contract conditions / requirements , such as independent valuers, building inspections, pest inspections etc etc. Once these requirements have been met satisfactory to myself I then notify my solicitor of such and the solicitor liases with my mortgage broker to take the contract through to settlement.
Over the years we have found the whole process to run fairly smoothly. With each subsequent purchase you learn from the previous ones so you can fine tune the way you do things along the way. This kind of stuff you dont learn from text books. Its hands on practical experience where the nuts & bolts learning is really acquired.
The biggest obstacle that needs to be conquered is your own thinking. Basically its having the courage to over come the fear of stepping out of your comfort zone to do things that are all new and foreign to you. Are you doing things right, what do you need to do next and the fear of losing are all thoughts you will have to move through to succeed.
At the end of the day once you have moved through these barriers that stop the majority of people you will think to yourself that it wasnt as bad as you thought it was going to be. Chances are you will be revved up wanting to do it all again - I know I was.
As per my signature - You dont have to get it right you just have to get it going!
Hope this helps.
