Buyers Agent - Melbourne

[Tom-B]

Hi All

Long time reader, first time poster.

Currently own a PPOR in Prahran and a -ve IP in Shepparton, VIC.

Looking to purchase another IP in coming months, but looking for something with a reasonable rate of appreciation, but a neutral or slightly negative gearing (ie $50 / week net or so).

Around the $250-$300K mark.

Would like to buy in Melbourne, but options appear limited.

Is it worth contacting a buyers agent to assist in securing this property, what is the general consensus for a buyers agent to accurately determine a properties yield?

Thanks in advance.

 

[Propertunity]

Is it worth contacting a buyers agent to assist in securing this property,

If you have the time and expertise - do it yourself, otherwise consider hiring help

what is the general consensus for a buyers agent to accurately determine a properties yield?

I think any BA worth his salt could work out rental yield. All he/she needs is a couple of accurate rental appraisals and a purchase price and a calculator.

Or are you asking if a BA can accurately forecast a property's future capital growth?...because no-one can tell you that. They can just advise you on the balance of probabilities based on what has happened in the past.

 

[Tom-B]

Thanks Propertunity

Looking more for an accurate yield information.

Do +ve CF properties still exist in Melbourne? I for one cannot seem to find it on my own.

(obviously wanting to steer clear of student accom and serviced appts)

Cheers, Tom

 

[Propertunity]

Discussed on this thread Tom-B: http://www.somersoft.com/forums/showthread.php?t=56666

 

[Ollie]

Hi Tom-B,

you'll find cash flow houses difficult to come across in Melbourne unless you're dumping in a HUGE deposit. (not good for the ROI...)

Propertunity is right in that no-one can tell you what capital growth will be unless they have a magic crystal ball !

Have you looked closely in regional areas around Melbourne? You are more likely to find cash flow neutral opportunities there. Also have you considered other strategies like vendor finance or lease options?

Employing these strategies can turn neutral / negative cash flow houses into ones that put money in your pocket each month. Something to consider....

 

[Peter_Tersteeg]

I'm happy to recommend an excellent buyers agent in Melbourne, but I think you'll have trouble finding positive geared property in Melbourne

There's not a lot to choose from below $300k either, unless you're looking a long way out, although it is possible.

 

[tobe]

Frank Valentic Advantage Property Consulting.

He wont find you a cash flow positive property, but he will show you a couple of options that are close to neutrally geared after renovation.

Fees are disclosed, and in my opinion quite reasonable.

 

[Nathan]

I know Lisa is very proactive in the Melbourne market.

http://www.parkerinvest.com.au/

Goodluck!

 

[JamesGG]

I know Lisa is very proactive in the Melbourne market.

http://www.parkerinvest.com.au/

Yes. Lisa knows her market, and, knows how to put a quality deal together. Highly recommended.

 

[keneth]

i know of a 1 bedroom aparment within 10km of cbd for under 230k on a yield of 4.6 percent yield. Potential for and value adding

Pm for details.

 

[Melbournian]

I know Lisa is very proactive in the Melbourne market.

http://www.parkerinvest.com.au/

Goodluck!

she's got a good website. thanks nathan.

 

[Tom-B]

Frank Valentic Advantage Property Consulting.

He wont find you a cash flow positive property, but he will show you a couple of options that are close to neutrally geared after renovation.

Fees are disclosed, and in my opinion quite reasonable.

Came across Frank by chance and have since purchased a property using his services (this is an old thread revived!). Very close to cash flow neutral and have already seen cap gains.