Winston: First-time RentVestor
Winston found Property Navigation thanks to a referral from his work colleague, Shahab (see Shahab’s story here). In Winston’s own words “Shahab worked with Property Navigation for his property and the result was good, so I thought I’d give it a go as well. We had looked for six months and hadn’t been able to buy a property.”
Winston and his small family had recently moved to Brisbane for work. They wanted to Rent-Vest, so they could continue to live in their West End rental where their child went to school, while still investing in a property to start their portfolio.
After having a Discovery Call and then a second meeting, Winston decided to engage Property Navigation to represent him in his property purchase. Soon after, our team spent in-depth time understanding Winston and his family’s situation and goals, and crafted a property investment strategy to suit their needs. Their strategy saw that 2 investment properties would be purchased in the first 12 months. Then once the family had a better understanding of Brisbane and had decided where they may like to put down roots for their family home, they could extract their initial investment from these properties within the first 2-3 years to buy their principal place of residence. Much education went into this process in order for Winston to understand how best to leverage his resources to achieve this goal.
Within the first month, Winston made multiple changes to his brief and budget. These changes came from being emotionally involved with his investment strategy, and from being new to investing. During this time Winston required coaching from our experienced team. Boyd, Property Navigation’s Principal Buyer’s Agent, spent much time working through Winston’s ideas and suggestions to ensure he was comfortable and ready to buy.
Further refinements to his brief were made. Instead of focussing on 4 suburbs in 2 Local Government Areas, it was decided to focus on 3 suburbs in 1 Local Government Area due to Winston’s uncertainty. We worked alongside rather than against Winston to ensure he was more comfortable purchasing. The coaching also focussed on Winston’s risk tolerance, and resulted in changes being made to his investment strategy to match the level of risk he was comfortable with.
Property markets nation-wide were severely understocked at the time of this purchase. But, by working closely with our network of Selling Agents, Property Navigation secured an exclusive off-market opportunity in Ipswich. The opportunity presented was a four-bedroom, 2-bathroom house on a 606m2 block. It also fit a particular request in Winston’s brief, that he wanted an established, but more recently built property - and this was built in 2008. Property Navigation worked on negotiations with this Seller for 2 – 3 weeks to readjust their pricing expectations. In fact, the Seller had not budged from their price expectation having declined numerous offers in the months preceding our negotiation on this property. Our final offer was accepted, at $15,000 under the Sellers expectation.
In Winston’s own words, “I am definitely satisfied. Boyd gave me plenty of information on where to buy. It really helped me make the decision with our investment. Without Boyd’s work, I would not have considered Ipswich - he advised me successfully on the investment there. Working with Property Navigation, all the hard work is done, all the concerns and everything. It saved us time and helped us to find the right house in the right location with the assurance that this could be a good investment opportunity. Otherwise, we wouldn’t know if it’s a good one or not.”
Reviews
What other happy customers say.
"A Buyer's Agent is a lifesaver! I honestly don't know what I would have done without one! I didn't know the first thing about buying a house, but Boyd was really approachable.”
- Bella Agius
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