Deciding to buy an investment property is a big decision. You will be investing a substantial amount of money with the intention of leveraging that investment to maximise the capital growth over time (thus increasing your wealth). If you are in the position of finding your next investment property, then it is worth considering engaging an experienced Buyer’s Agent in Melbourne who can guide you appropriately through the entire process because making sure you secure the right investment property is very important. You want to be able to maximise the capital growth on your investment so that you can significantly build your wealth in the shortest possible time frame.
What does a property buyer’s agent do when it comes to property investing?
A property Buyer’s Agent will be a very valuable guidance for you when you are securing your next investment property. They will support you through each stage of the process, including:
· Initial Consultation. During the initial consultation the Buyer’s Agent will arrange a consultation with you where they will find out exactly what type of investment property you are looking for. They will ask you a lot of questions to figure out what your specific short and long term goals are, as well as where you are currently at (including factoring in any existing equity in your home, income, expenses, liabilities and any other factors which may impact you).
· Research and searching. Once you engage the Buyer’s Agent, they will do extensive research to find a shortlist of properties which fit the requirements you have previously given to them. Part of this process will involve the Buyer’s Agent contacting the trusted professionals they have in their network to identify opportunities that they can exclusively provide you with access too. The Buyer’s Agent will then present a range of suitable properties to you so you can select the one you think is the best option.
· Due Diligence. Once you have chosen the property that is the most suitable, the Buyer’s Agent will investigate it and provide you with an in-depth report to ensure that it is the right fit. During this process the Buyer’s Agent will also ensure that you have your finance arrange, a qualified building and pest inspector organised, and that required conveyancing and any other legal documentation is thoroughly checked because this will ensure that the process is as straightforward as possible and nothing is left to chance.
· Negotiate and purchase. Once it has been confirmed that the property is the right one, the Buyer’s Agent will negotiate the right price for you and secure the investment property for you at the best terms, conditions and price. A Buyer’s Agent should always keep you informed at each stage so you will know what is happening. If you plan to rent out your investment property, then a Buyer’s Agent such as our director Paul who has 32+ years of experience within the industry should be able to refer you to a trusted property manager who will ensure that your property is taken care of and assist you with finding tenants.
Finding the right investment property in Melbourne
When you are planning to buy an investment property in Melbourne, it is beneficial to engage a Buyer’s Agent who has decades of experience in buying and selling property within Melbourne because they will know the areas in great detail, including knowing where is good to buy for maximising capital growth and where to avoid. This will ensure that when the Buyer’s Agent presents a number of properties to you that you can rest assured that you will be choosing from a range of properties in which all aspects of the location and how they may impact the value of your next investment property have been considered.
There is a lot of generalised advice online around “good” suburbs to buy – however this sort of information needs to be carefully evaluated and especially in reference to your goals. Although there are certain areas which tend to yield higher capital growth overall, it is still important to ensure that in depth research and analysis is done on any property you are considering because there are many factors which can impact the value of a property and two comparable properties within one suburb may be valued quite differently in terms of location and factors that are individual to each of them. A Buyer’s Advocate will do this in-depth analysis for you and ensure you do not miss any important factors which could result in lower capital growth in the future.
The Right Advice
An experienced Buyer’s Agent such as our director Paul who has decades of experience may also be able to provide you with suggestions on reasonably priced improvements that can be made so that you can yield a higher return on your investment property. Paul assisted a client to secure an investment property and once this was done, suggested repainting, replacing the kitchen and updating the bathrooms. The client took on the advice and all of the renovating was done. The result was that the client was able to achieve more rent per week and it increased the property value by 15%. As the investor plans to keep the property as a long term investment for 20 years, the return on the investment made is well worth it.
Trusted Professionals within Melbourne
Choosing a Buyer’s Agent who is experienced with buying properties in Melbourne will also mean that you will have access to trusted professionals within the industry. A Buyer’s Agent such as our director Paul Murphy who have been in the industry for 32+ years will have a wide network of trusted contacts which will mean that you will have access to trusted experts who can provide the support and guidance you need to help you achieve your goals. Having been a Real Estate Agent, Paul also knows what Real Estate Agents typically do and can easily read any tactics or strategies that they may apply. As an investor, this will result in the investment property only being secured when it is the best move to do so and prevent detrimental situations from occurring such as paying too much or securing a property on the wrong terms. If people have not secured investment properties before, these situations can easily happen and the cost can be significant long term.
More Accurate Market data
Qualified Buyer’s Agents have access to data that general consumers cannot access. This means they can provide more in-depth analysis on the actual profile of a property – including it’s history and the true market value of it. For clients who are building up an investment portfolio – with the intention of building wealth – this is a great advantage because it means you will be able to make much more informed decisions as to which are the best properties to buy. Having access to this data also enables you to more accurately determine your plan for investing based on more accurately predicted capital growth.
If you are looking at information within the media as a property investor, please be careful doing so because it can be inaccurate and this could lead to you making the wrong decision. If you are unsure, reach out to us and arrange an obligation free consultation where we can advise you if the information you have is accurate or not.
At Murphy Jacobs, we have helped our clients to secure investment properties which will provide them with substantial capital growth in many suburbs. These include Abbotsford, Albert park, Alphington, Ascot Vale, Balwyn, Brighton, Brunswick, Brunswick East, Brunswick West, Camberwell, Carlton, Carlton North, Clifton Hill, Coburg, Collingwood East, Melbourne CBD, Elsternwick, Elwood, Fairfield, Fitzroy, Fitzroy North, Flemington, Glen Iris, Hawthorn, Hawthorn East, Ivanhoe, Kensington, Kew, Kew East, Malvern, Middle Park, Mont Albert, Moonee Ponds, Northcote, North Melbourne, Port Melbourne. Prahran, Preston, Richmond South, South Yarra, St Kilda, St Kilda West, St Kilda East, Surrey Hills, Thornbury, Toorak, Sandringham, Black Rock, Beaumaris, Mentone, Cheltenham, Parkdale, Mordialloc and the Mornington Peninsula.
If you would like to discuss securing your next investment property within one of these areas, contact us today for an obligation free consultation. I would love to help you build your wealth through investing in the right property.
Contact us today to help you with expert guidance at fixed fee rates for your next property purchase and secure your financial future.