Settled on my first IP :)

[K_Raheja]

v excited..Settled my first IP.

It was a interesting process..
experience of going thru acquiring the IP was so much different than what most books(i read) talk about...

Some of the biggest learnings was ..

a) that I should have allocated another week to settle and think twice b4 using Homeside again.
b) got to see how Buyers agent workings and understand what they look at when recommending props..
c) important not to loose patience with the people who process paperwork coz' taking back your words is like putting toothpaste back in the tube...

Definitely, lot of thanks to SS forum specially Y-Man,BV,Alan,Rolf and lot more...

Much more confident about the 2'nd IP, the process and my goals..

Cheers
K

 

[mary&mat]

Congrats!

I think I agree on the allowing more time for the settlement due to bank/lenders taking their sweet time!

Well done again - enjoy

 

[GreenTreeFrog]

Congratulations! That is fantastic news. Lotsa fun isn't it!

 

[Propertunity]

Congratulations! That is fantastic news. Lotsa fun isn't it!

^ ^ ^
What she said

 

[Jacque]

Well done- and I love the toothpaste analogy!!

 

[chilliblue]

^ ^ ^
What she said

Whatt hey all said

 

[malcomb]

So, tell us more about the 'buyer's agent workings'. What did you observe?

 

[K_Raheja]

found out they look at
demografix,
population size..
RP Data,
SQM research.
ABS surveys,
new infrastructure & transport investments by council/state.
new home listings
new job creation..
economy not being heavy on a particualr industry..
'word' from the agents/clearance rate
tribal knowledge among other BA's/Mortgage Brokers etc

ofcourse for props in 10-20k radius of metro cities msot above r taken care of. mine was in regional hence the above were imp.

 

[tvadera]

Congratulations on your first IP. By the way which area have you bought in and are there any Buyers agents you recommend:?

 

[BayView]

Good on ya!

I'll bet the fear factor for no.2 is way lower than for no.1

 

[Shiv]

Congratulations! I'm in a similar position so i feel for you!!

 

[travelbug]

Congratulations!! Exciting isn't it.

Watch out you'll become addicted.