Buyers agent perth

[Propertunity]

....But that was a long time ago and those kind of bargains have all dried up.

I think that kind of advice is just bad advice and also quite wrong.

We purchased a block of 3 units OOT just a few months ago with about $200K of gross profit it them - just needed a reno and sep. strata titles.

There are bargains to be found in almost any and all markets.

 

[tyrone]

Yes I am chasing capital but I do work up north in karratha and do not believe my job is secure so my investment would be based on if I were to move back to perth and earn normal money. At this stage my borrowing capacity is quite well. I also have a guarantor so I do not have to lay down a deposit or pay lmi.

Perth houses are too expensive so I guess I will have to use a buyers agent to buy a house in a different state as I would not be able to do enough research on where to buy.

I struggle at that even in my own state!

 

[one world]

I think that kind of advice is just bad advice and also quite wrong.

We purchased a block of 3 units OOT just a few months ago with about $200K of gross profit it them - just needed a reno and sep. strata titles.

There are bargains to be found in almost any and all markets.

Respectfully, I beg to differ.

Unless you do it for a hobby, you are a Buyers Agent and make a living out of commissions. Nothing wrong with that. I genuinely wish you well.

But to say that bargains are abundant in Perth in the present market, well that's just not true and its more than mendacious.

 

[one world]

Perth houses are too expensive so I guess I will have to use a buyers agent to buy a house in a different state as I would not be able to do enough research on where to buy. I struggle at that even in my own state!

There are plenty of BAs on this website who will want to 'help' you (for a fee of course).

Lets say you hire a buyers agent and buy something interstate. If, 5 years later, you have not had a capital gain, do you think the Buyers Agent will accept any responsibility for his flawed advice? No!

Mate, its your money. You are best doing a bit of homework and going it alone. There have been a few people on this forum who used buyers agents, overpaid for their IPs and, 3-5 years later, have negative equity. PM me for examples, I don't want to hurt anybody's feelings here.

I have no problems with BAs who can show us a personal track record of successful investment. I'm interested in hard numbers, not testimonials.

If any BAs are reading this, pray share your personal investment history with the rest of us. If you are as good as you claim, you will have plenty of forumites who will sign up with you.

Apologies to all if I'm starting to sound like Jenman.

 

[Propertunity]

But to say that bargains are abundant in Perth in the present market, well that's just not true and its more than mendacious.

Well just to clarify, I did not say that bargains were "abundant" nor did I say anything about them being in "Perth".

But to say that there are no baragins of any kind anywhere in Perth (its a big place), would be equally mendacious. Opportunities are there for those who are dilligent to look hard enough.

 

[mrmonopoly]

On my part, I was approached by a BA who sold one of my IPs. I did not have to pay him a commission. I was very happy with the price he got for me.

The above would suggest a fundamental misunderstanding of what a buyers agent is.

http://www.reinsw.com.au/default.aspx?ArticleID=8258

I am sure similar best practice guidelines apply in other states as well.

 

[Kent Cliffe]

I can totally understand what you're saying One World:

• Some Buyers' Agents are in it for the commission.
• Some Buyers' Agents are unsuccessful in their own investing.
• Some Buyers' Agents don't have too much concern for their clients future results.
• Some Buyers' Agents purchase dud investments (not even intentionally, just bad judgement).
• Some Buyers' Agents are less experienced than sophisticated investors.
• Some Buyers' Agents ...
• Some Buyers' Agents ...
• Some Buyers' Agents ...

However, it shouldn't be a sweeping generalisation to the entire industry. There are many companies, including many people who post on here, who don't apply to the group above.

A smart investor may learn through the school of hard knocks. However, the best investors know how to select the very best people to employ to make sure their results are even better that what they could have done in their limited capacity (sharing time with a 40 hour p/w job.)

 

[MTR]

Yes I am chasing capital but I do work up north in karratha and do not believe my job is secure so my investment would be based on if I were to move back to perth and earn normal money. At this stage my borrowing capacity is quite well. I also have a guarantor so I do not have to lay down a deposit or pay lmi.

Perth houses are too expensive so I guess I will have to use a buyers agent to buy a house in a different state as I would not be able to do enough research on where to buy.

I struggle at that even in my own state!

In this case perhaps you want to start looking at posts regarding West Syd, get familiar with areas, network with agents etc, at the moment this market is rising, lower entry level, and possibilities of reasonable yields. I think you can still buy homes in certain pockets for $350,000. We also have some BA from Syd, who are also savy investors on this forum. Just have to work out who specialises in this area.

Good luck

 

[Blacky]

I have used a BA for a property purchase. The reasons were varied, but ultimately it was a time resource. I don't have the time to spend searching. The property in question required quite specific crieria(set by me) it took 7 months before signing. The BA showed me maybe 100 properties over this time. Offers were placed on about 12. One accepted. How many were discarded prior to being shown to me... No idea.

The end value was below the asking price, could I have negotiated a similar deal? Maybe... But I simply would not have found the property in the first place. Has it achieved better than market performance? Don't know, don't care.

I was happy with the service I got, and hear from her regularly.

I think BAs have a place. If you are ' Proffesional' investor, and have the time, resources, regular contact with industry pro's, market knowledge etc etc etc I can understand why you wouldn't need to use one.
For me, I don't have these assets, so need to pay for them.

Blacky

 

[redwing]

Originally Posted by tyrone
I hear a lot of people say they wouldn't buy units or villas for an investment though? Why is this?

On the other side of the coin

I have a friend who has done well over the years "only" buying units

 

[tyrone]

Thanks guys