Looking for right IP?

J

Jude78

Hi all

My name is Judy. I must say this forum has some really interesting people talking about things. As a property investor myself I can really appreciate the content on this forum. My partner and I own three properties and have made substantial money from these (as most have in the market's current climate!)

Anyhow the purpose of this message is to let you know of myself. I am a buyers agent specialising in finding properties for investors. My 'area' is limited to the South East Queensland corner. I am a member of the REIQ and have access to RPdata and other important information such as council plans etc. I can take alot of legwork out of 'finding' the house and help in relieving stress making decisions on limited information as I can provide information to help make the 'right' decisions.

I thought there may be people out there who may be interested such as interstate buyers who need a pair of eyes and ears up here or for those who work long hours who may not have the time to search for property during the 'wholesale' period of time during the week.

Any of you with questions please feel free to ask...I am only to happy to help

Judy
 
question?

Hi Judy

I am looking for someone to look for an investment property for me in the northern surburbs....

Unfortuantely due to work committments i have no time to look for myself . Can you tell me some more about the service you offer .... and what exactly is RP data....


Thanks in advance
 
Hi Speedy...

**I am looking for someone to look for an investment property for me in the northern surburbs....**

This is Brisbane I am asuming...capital growth has been substantial in the Northern Suburbs of Brisbane...where exactly are you looking for?

**Unfortuantely due to work committments i have no time to look for myself . Can you tell me some more about the service you offer .... and what exactly is RP data....**

What I do is I come and meet you and discuss exactly what you are looking for and what is important to you for example you maybe after a property for high producing yeild (this is the rent you earn from property * 52 to give a yearly figure then divided by the purchase price - the higher the better about 8% yeild means property is paying for itself)

Once we have esatblished what you are looking for then we find out exactly where you are looking...the way i do this is to go through the current median house prices and then you pick which suburbs are within your price range. Once this has occured then i go away and compile a profile with recent sales and whats for sale compiled from RP Data (I will get to that soon). Once you have really studied this information you then tell me exactly where to buy (limit of 3 suburbs).

Once all that is done then i go out and find suitable property and can arrange inspections or inspect myself compiling comprehensive report and photos of property.

If this property meets your requirements and you want to put in an offer I can also assist with negotiating.

RP Data is a database in QLD that is compiled from the titles office with all houses and their history. It tells me what the current UCV on a property is, how big the land is, and sometimes what sort of house the property has. It also generates reports of areas with demographics, median house/unit and vacant land prices as well as long and short term capital growth.

I hope that clears up some of your questions.
 
Hi Jude,
How do you get compensated for your services...do you charge a set fee or % of the buy price of IP one wants to buy? What is the process for the interstate investors..as in the logistics of engaging your org.
I am also keen to find out how long you have been doing that for and if there is any historical data (from your past dealings) that supports your case.

I am based in melbourne and interested to find out the stats for the Brisbane market...vis a vis prop cycle, growth and vacancy rates.

Regards,
Harris
 
Harris...Thanks for asking:)


**How do you get compensated for your services...do you charge a set fee or % of the buy price of IP one wants to buy? **

I don't charge a % of buyers price as i believe it distracts me as someone looking for a 200k house is worth less to me then someone who is purchasing a $300k house...service is everything so i chage a set fee.


**What is the process for the interstate investors..as in the logistics of engaging your org.**

I currently have clients who are based in Sydney. The way i work for them is i find them the property, do a detailed report including pictures, get other RE appraissals of the property and send them the info to make a decision. These people are serious investors and are able to make decisions fast. They do very well out of their investments.

**I am also keen to find out how long you have been doing that for and if there is any historical data (from your past dealings) that supports your case.**

I, by education, am a registered high school IT teacher, but have left that to do what i love full time. I have been in property for approx 5 years (78 is my birth year). I have been finding people properties for approx 3 years.

I can give you phone numbers of the most recent that i have been employed by to contact and discuss any aspect of my service with.

**I am based in melbourne and interested to find out the stats for the Brisbane market...vis a vis prop cycle, growth and vacancy rates.**

I would be extremely happy to help you with these.

Hope that helps
Judy
 
question

Hi Judy

Thank you for your reply i am looking for a investment property in the redcliffe area and am looking at renovating this property to increase the yield as i intend to hold this for the long term....

You say in the post that you have investment properties have you renovated them ??

If you have can you tell me what sort of things you look for when purchasing a renovator ??

I have also been considering buying a big block and sudividing can you look for these specific types of properties....

thanks again

speedy
 
Speedy...

**Thank you for your reply i am looking for a investment property in the redcliffe area and am looking at renovating this property to increase the yield as i intend to hold this for the long term....**

Great idea...The Redcliffe area itself has had good growth - 21% since start of year

**You say in the post that you have investment properties have you renovated them ??**

Yes we rennovated them:
IP 1- bought $139K - reno: 20k now worth $280-$300K
IP 2- bought $125k - reno: 50K now worth $240-$250K
IP 3- bought $182K - reno not completed now worth $230 - $240K

**If you have can you tell me what sort of things you look for when purchasing a renovator ??**

I look for a house of your description that has not had any maintainance done for a substantial amount of time. Usually needs new paint, kitchen bathroom, maybe add a bedroom and deck etc. I look at yeild and at capital growth. I also study council plans for area and find out about the local area (is it in good position??)

**I have also been considering buying a big block and sudividing can you look for these specific types of properties....**

I can look for anything - its just a matter of talking to the right poeple for the job. I have vast network of contacts including architects and townplanners which always seem to have time to look at plans and tell me if the development is viable. I also have town planning docs for both Brisbane City Council and Redcliffe City Council among others.

My partner is also a corporate accountant and is partners in this company and helps with the number crunching - extremely handy to have 24/7:))

Jude
 
G'day Jude78,

This is a rather unusual post for CE, but I don't see it contravening the rules, and there has already been some interested replies. Your answers have obviously been well received, so that is in favour of keeping your post alive.

You said this:-
service is everything so i charge a set fee
Click to expand...
Would you share that set fee with us? As you can imagine, this "set fee" could be ANY amount. I personally appreciate your comment re a $200k vs a $300k property, and tend to agree that a set price could well be more fair..... i.e. you still have to do a set amount of work, no matter what the price...

As you would understand from reading the rules, this site is more for education than for "selling" - so every reply you proffer that helps others to learn is of benefit to the forum. And, if your open-ness leads to some business, then that is a by-product of your helpfulness - thus, win/win. (Please don't limit yourself to THIS forum, though, Jude - you seem to have knowledge that others can benefit from in other forums within Somersoft)

To all readers (especially newer ones), Jude is "new" to the forum. That should not count either for, or against, her. So far, her eagerness to answer your questions is commendable, and what we like to see. But, to complete the picture for newer readers, there are already posters who have been with us for some period of time that also fulfil the role that Jude is providing. Using Search and keywords of "buyers agent" should provide a number of threads for comparison.

All new readers, as well as posters should familiarise themselves with CE's rules too, before acting on information received within this forum.

Despite all of the official stuff, let me say "welcome aboard Jude" - and we look forward to you becoming a regular contributor to our forums.

Regards,

Caveat Emptor Moderator,
 
Last edited:
Fees and Service details (Summary)

Hi Les

Thank you very much for your feedback. I hope to be sharing any useful knowledge on this forum...one of my clients recommended i check it out and i must say i am pleasantly surprised.

As for sticking only in this category, i don't intend on staying only in this area as i have found lots of very interesting and 'down to earth' information offered everywhere.

In relation to my fees, I charge $4000 with $500 upfront nonrefundable fee which covers my expenses finding you that property. This is extremly competative pricing as you may shopping around. GST is not included in that price. This charge is the full service charge and can be broken up according to your needs.

I would be happy to discuss this with anybody interested and all details of my service will be available on my website which is currently being developed.

I have testimonials from previous clients and can in fact put you in touch with my most recent clients.

Does that help???

Thanks for your time
Judy
 
Hi Jude,

Firstly I 'll add 'welcome to the forum' bit:)

Now that is out of the way just wanted to say that I liked the way you answered all the questions put to you.

Eventhough I have never contemplated of using a buyer's agent and not planning to buy in the next couple of months, I would certainly keep in mind checkout your services.

I am glad Les asked about your fee, for I also wanted to know:D
It seems a fair fee. Lot of people either go into defensive or evade answering when asked questions like these. So your straight answer is much appreciated [and main reason behind opening my mind to the posibility of using a buyers agent]
 
Judy,

You may well be aware that there are other buyers agents who have contributed to the forum, who are in your area.

There was a thread a little while back where Scott McGeever was asked a question, where he responded- the thread is at http://www.somersoft.com/forums/showthread.php?s=&threadid=7939

In the same spirit, Judy, can I ask you the same question please-
I'd like to do a series of threads where a buyer's agent is invited to submit an example property purchase suitable for a property investor. This gives us an opportunity to meet some buyer's agents and get a feel for the area they operate in and the types of investment property that can be sourced in that area.
Click to expand...
Thanks Judy
 
Hi Geoffw...

Wow what a great idea...

I love telling stories about the propeties I have found.

Firstly I wish to say that all people i have dealt with have been investors that have only been interested in houses. The main reason for this interest is due to the capital growth we have recieved up here (Brisbane) and due to this people I have encountered have been interested in land. Also budgets set have been quite tight and so wanted the best CG their money can afford...Yeild has also been important but as most poeple in the industry are aware with houses the yeild here at the moment isn't too terrific (but seems to be better than Sydney and Melbourne). So ideally most purchasors are looking both good capital growth and solid yeild. Also my clients were looking for properties they could improve (renovate) to improve yeild and to increase equity in there houses quickly so they could move to the next investment.

All the people I have dealt with have been quite 'fresh' at this and all were looking for guidance.

So with all this in mind I would like to give you a recent example:

1. Clients I met in the Carina area...This was their first IP and thier PPOR had substantial equity allowing them to buy IP.

Thier budget was ideally $250K with $40K total for loan costs and renovation. They wanted their IP to be close to their PPOR due to this being their first. They wanted at least three bedrooms although a two bedroom house that could have extra bedroom added would be excellent.

Within days of looking(most houses in area was priced at low 300k) I located a property within 2kms of their PPOR. Heres the details:

Opportunity home with large 739 sqm corner elevated block.Greatlocal views exceptional value with bonus 2 bedroom post war home.Don't hesitate,Renovate or remove offers $235,000-$260,000

A salesperson took me to the property advising me that he couldn't show me in the place. That the property had had 3 contracts on the property but had all fallen over due to building/pest. The property needed restumping and and had termite damage in the laundry (which was an extension). I took photos and rang clients telling them of details.

I arranged with the agent to inspect the property the next day so that my clients could have a look of the house. When we arrived the agent looked surprised when i asked him to open the door "you want to actually see inside the house??" - I said yes giving my client a look of "isn't that what an inspection was???". The salesperson was immidiately on the phone to the vendor and we overheard a heated argument between the agent and the vendor. He eventually got off the phone and said to us - "the house is off the market". Got into his car and left.
At this stage we had been told the vendors were seeking $268K.

My client looked very disapointed but i told her not to worry. I went back and got into contact with the vendor (another dramatic story) asking if the house was still on the market. She had told me yes but through another agency and gave me the name and phone number...I contacted that agent asking to arrange an inspection on the house. He did this meeting us at the house an hour later.

We liked the look of the house as there was two huge bedrooms that could quite easily be changed to 3.

We put in an offer of $245 now the deal for vendors was that since building and pest had fallen over so many times wanted to sell property as land only. To protect my clients we cut a deal with the agent that a deposit($500) would not be paid untill after the 5 day cooling off period to allow my clients to get building report done in that time (pretty clever huh!!!).

The agent put it to the vendor but due to both mum and dad plus two grown up kids all owned it a family meeting was needed to consider the offer.

My clients and I all waited at their house anxiously. The vendors came back with $255 and we changed our offer to $247K. They then came back with $252K we went up to $250K. With that they agreed.

Deal was done.
House settles this coming week.

Ok here is the financial stats on property:

Median house prices for the area was $292K.

I rang three PMs which told me they could rent a 3bdr house in that position for $280-$290 pw
as is (2bdr): $240-$250 pw

Capital growth(June Qtr): 15.7%

Yeild at time of sale: $220*52=$11440/$250,000
+4.5% yeild (not too bad)

Costs after reno and sale costs: $290K (still under the median)

Yeild after reno and sale costs: $280*52=$14040 / $290000 = 5.0%

Resale on that house after reno and sale = Low to mid $300'sK - they got the equity to buy next house as their PPOR still had substantial equity.

Yeild wasn't a huge issue for my clients capital groth and improving the hosue so that equity would be immediate thus they can move to their next property straight away.

House was within 10Km of Brisbane CBD- I believe 7kms exactly.

Not too bad for thier first investment....they wanted to hold the property for long term.

Judy
 
One thing about Buyers Agents that I keep pondering on is:

If they are asked to find a really great IP, CF+ etc,
wouldn't they consider buying it themselves if it is such a great buy ?
 
tell me about it ABC!!!

unfortunately due to our bank...we have been capped untill 2004 for valuations so thus we can't borrow anymore...(as mentioned above we have 3 properties) we just bought our last 2 mths ago!!

I do get very frustrated though myself when i find a house the 'perfect investment' and my vendors don't like it....

oh well thats my profession!!
 
Jude 78,

Just wondering if you also pick up a pecentage of the agent's fee on top of you set fee of $4000 from the buyer?

How long have you been a Buyers Agent for?

Is this your own business or are you emplyed by someone?

Cheers
BUNDY
 
Bundy

***Just wondering if you also pick up a pecentage of the agent's fee on top of you set fee of $4000 from the buyer?***

I don't get any money from the vendor...thus I don't have any legal obligations to the vendor only for the buyer...There is a legal obligation to disclose that information to my clients (same as a REA).

***How long have you been a Buyers Agent for?***


Officially for around 6 months when I quit my job (as a teacher) to do this full time...The purchasers i was involved with (sourcing moreso) were for friends or friends of friends...but I started getting busy and thought that I should turn it into a job and start charging people money to do this... thus moving out of the e quadrant into the b quadrant.

***Is this your own business or are you emplyed by someone?***


I own and operate my own company and employ myself:))
Thus you get very personal service from me...I do have a team of professionals as well that i refer my clients to ie mortgage broker, solicitor, accountant, building/pest inspector etc. All to make the whole experience easier and less stressful. I don't reccomend anyone that i haven't dealt with myself (as an investor).

Thanks for your questions
Judy
 
Free Members area for limited time only

For a limited time we are providing free membership to our member only area on website...

The members only area provides invaluable links to information, a market snapshot of Deception Bay and access to our forum. We also provide a bi-monthy newsletter that will be emailed to you.

For those interested please email me your contact details so that I can add you: [email protected]

Judy Erntner
SandCastles Property Solutions
www.sandcastlespropertysolutions.com.au
 
You must log in or register to reply here.

Similar threads

asante
First Home Buyer/Investor - advice please
Replies
1
Views
2K
marg4000
M
K
IP in Gunnedah NSW
Replies
13
Views
2K
dabbler
D
I
Should I use a Buyer's Agent?
2
Replies
28
Views
6K
firstford
F
S
What I learnt ? Call Depreciator, always ask questions.
Replies
4
Views
2K
Sasi
S
J
Advice for first IP $300k / buyers agent recommendations
Replies
16
Views
4K
knightm
knightm
Back
Top