Tae and Sylvia: First-time Investors
First-time property investors Tae and Sylvia had recently moved their family to Brisbane from New Zealand and were eager to purchase an investment property to start their portfolio. The couple had unknowingly been to a "property spruiking" seminar where the hosts had tried to sell them investment stock i.e. new greenfield builds on very small blocks of land. The people hosting the seminar called themselves “Buyer’s Agents,” but they were being paid high commissions by the developer to sell the properties….a situation that certainly isn’t in any buyer’s best interests. Tae and Lee simply needed more education and guidance on WHAT and HOW they should start their property portfolio purchasing journey. Tae explained “We were looking for a house, but we didn’t know anything about what we were doing. We were not sure where to start as we were new to the city…a city we didn’t know.”
Before long, Tae and Sylvia felt overwhelmed by the unfamiliarity of South East Queensland’s real estate market. Their mortgage broker, Hugh from Link Advance, had a past client work with Property Navigation and told the couple about the free Discovery Call that we offer. With nothing to lose, Tae gave Property Navigation a call.
Having little knowledge of buyer's agents and what they do, Tae had an hour-long call with Boyd our Principal Buyer’s Agent, where they discussed the family’s long-term property goal of building a six-figure passive income. Boyd was honest, and shared that most people overshoot the timeline that they can achieve such large passive income streams, and he set a more realistic expectation and timeline for them to achieve their goal. They learned to focus on established houses in metro locations with good land content, and, on properties that will not impact their current lifestyle, but improve their future lifestyle. They discussed the risk profiles to achieve their goal, and, Tae learned that a low-risk strategy would allow the purchase of an initial 2-3 foundational properties, and more risk could then be taken on as they established their portfolio.
Tae and Sylvia decided they needed the help of Property Navigation. “It’s a great thing to use as we were not aware of the market or the areas. Having a Buyer’s Agent is a huge benefit, you can save time, they have the background and relationships, knowledge of the areas and most of all experience building portfolios, and for us starting one with a strategy.”
The couple were presented a number of properties in the first six weeks. The first property selected overshot their budget during the negotiation process. Tae said “There was one property that we looked at first, but it became over budget, and Boyd told us it wasn’t worth it to go beyond our budget. Two days after that happened Boyd presented us a new property, one he had been advised was pre-market just two hours prior. He had already booked an inspection and taken videos. That same day we got all the reports and the full strategy for that property. He told us it was a good buy within our budget with lots of boxes ticked, and it was. It then only took us 1 day to sign the contact. It was very smooth overall. The strategy was perfect. He thought the price would go up to a certain level and it turned out that was our purchasing price.”
The property was secured the day (Friday evening) before it went to market on the Saturday. Just 3 months post-purchase, the property was revalued with approximately a $30-$40K uplift in value - 4.5% growth.
“It’s much less hassle and less effort. Of course, we have to do our own checks that are sent through on email and WhatsApp, but everything has already been done with lots of reports, video’s, photos and information. Boyd was the main contact person and arranged pretty much everything. The best thing is he had a strategy going in to negotiate, an approach for the agent, how we were going to approach the owner of the property, pricewise what we should expect, what happened if this happens or that happens etc. He has all the knowledge and the strategies for us to achieve this goal.”
“It was way above our expectation to be honest. And we really support Boyd and the team because we are really satisfied from the start to the end. Communication was really clear. The process was well prepared, the whole process step by step. We’re very happy and we highly recommend.”
“The rate of a Buyer’s Agent is not cheap, but it’s worth using one. Property is a huge asset worth a large amount of cash so to buy the right one was very important to us, and to get the right one with the right Buyer’s Agent.”
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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