Episode 1: Behind the scenes of a property investment purchase
This episode takes you behind the scenes of a typical investment purchase, from the moment you decide to invest, all the way through to settlement.
I chat with a trusted and experienced mortgage broker, Peter from Polo Finance Group and we touch on:
- Why having a strategy is important
- Financing
- Suburb selection and research
- Negotiation
- Due Diligence
- Legals
- Property Management
- Settlement
Darcy Milne
Welcome to navigating property with Ben plohl, the podcast that helps you understand the property market, make smarter investments and navigate your way to success. Join your host, Ben plohl, founder of BFP Property Group, as he breaks down real estate trends, interviews experts and shares insights to empower your property journey.
Speaker 1
Hello and welcome to the first episode of our new podcast coming up. On this episode, I’m going to take you behind the scenes of a typical investment property purchase from the moment you decide to invest all the way through the settlement. We’ll touch on why having a strategy is important. We’ll talk about financing, suburb selection and research, negotiation. We’ll touch on due diligence, legals, property management and settlement. Here we go. So deciding to buy an investment property, it’s a great milestone. However, there’s also a lot of bits and pieces that you need to be mindful of. It can be quite stressful as well. So many moving pieces, so many decisions to be made along the way. Read More
Speaker 2
moving pieces. And you know, everybody wants to get everything done as soon as possible. So from the client perspective, it’s very crucial for them to be clear on what they want, so that it makes your job and my job easier in putting together the strategy, the loan, the location, whatever it is together for them.
Speaker 1
Yeah, absolutely. And I think for when we work with clients, I think the number one thing we talk about in even before considering a location is all around strategy. So it’s all about really being very clear on what you’re trying to achieve through investing. This is our approach. And I think as a as a personal investor, this is what I’ve tried to do. You know, in the last 20 odd years, it’s really being very clear on that end goal, and whether that end goal is a number that you want to hit from an income perspective, and then reverse engineering a strategy to help you get there. And I think the word strategy gets thrown around a lot. It can mean a lot of different things, you know, what type of assets you should accumulate throughout that period. But I guess, with your clients and talking about, you know, investing strategy or portfolio creation strategy, what are the things that you’ve come
Speaker 2
across? The Golden thing for everybody is having the best the best asset possible. And then, you know, comes the reality of what is their borrowing capacity, what are they going to be able to afford, and where are they going to be able to invest? Doing that pre approval for clients is very crucial, because it gives them the reality of what they can get and what we like to do. You know, number one, people want to go to the major banks because it’s the lowest interest rates, cheapest money. But then we find that that doesn’t quite give them the borrowing that they want. Read More
Speaker 1
absolutely. I think financing is a key part of mapping out your investing strategy or portfolio planning approach. And I think just circling back to investment strategy that. The way that I see it work quite well for clients is, is being open to buying a mix of assets. And it’s not just buying the same type of asset over and over. And I think, you know, based on experience and what we’ve done for clients, it’s looking at, you know, could be a capital growth play, it could be something with a cash flow play. It could be something with a value add sort of strategy attached to it, creating equity along the way without waiting for the market to push the equity up. Looking at commercial property as well, is another key part of the portfolio creation. But I guess at the crux of your investing strategy, finances is a huge piece, which you’ve just touched on. I guess when it comes to financing, what are you seeing at the moment around banks being open to lending more money. What are the sort of buffers that are still in place with some of those lenders? You
Speaker 2
know, the major banks are buffering at, you know, 3% above the interest rates that they’re offering. And expenditure, in terms of, you know, general household living expenditure keeps going up on a quarterly basis, so it makes lending harder and harder. It’s not that the banks don’t want to give the money out. They’re more than willing to, but it’s just on
Speaker 1
those on those buffers. Just explain, maybe, what? What does that actually say? For
Speaker 2
example, if, if the advertised interest rate you see on on the internet or on TV is 6.2% then what the bank’s going to do is they’re going to buffer your ability to repay the expenses, current debts that you have, they’re going to buffer everything at 3% above the current rates. So if it’s 6.2% then they’re going to assess it at 9.2% so that’s what makes Yeah, that’s what makes borrowing capacity so difficult these days. Where you compare 2021, 2022, when the rates on off or we’re 1.992% they’re buffering at 5% so makes it a lot more realistic. It makes lending a lot easier for people. Yeah, and that’s why these, these second tier lenders, are so important to you know, an investor these days, is because some of these non bank lenders are buffering at only 1% 1.5% some are buffering at 2% so that’s why people are able to get more money out of so I think it’s, you know, it’s important for for you as an investor to be educated about those other options and not be scared of them, because they’re there to serve a purpose for you. Absolutely. Yeah.
Speaker 1
So I guess it, yeah. It’s all about one, getting your strategy right and being clear on your end goals, and then reverse engineering a plan on what assets you need to accumulate to get to those end goals. It’s next up. Was about financing key piece of of any successful investor. It’s, you know, without the bank’s money, you’re going to be capped at a certain level. So that’s, that’s really important, I guess it leads into then, you know, suburb selection and research. I think when it comes to to investment research, everyone’s got a different opinion on what that should entail for us. It centers around a couple of three or three sort of key pillars. It’s, it’s understanding, you know, real estate data and being able to interpret data trends and things like that. Read More
Speaker 2
one thing I can tell you that they don’t consider is when people are investing regionally, for example, for number of reasons, what they don’t consider is there are lenders that have post code restrictions. So this is from a finance perspective, certain regional areas, they lenders may restrict their LVR, or they may not want to lend to this particular area. They may already be overexposed, so you really have to, and this is where you know speaking to a broker is super crucial, because we can tell you that information up front. Mm. Uh, you know, banks give us the these tools, such as their, you know, postcode matrixes, and it tells us where banks do and don’t want to invest in and what the restrictions are, so that we can, then again, come back to giving you the lending strategy and telling you whether you’re going to have enough money, whether you’re going to get enough in terms of the lending side of things, do you have enough of a deposit? Because if a banks all of a sudden, banks
Speaker 1
still don’t like Docklands apartments, yeah, that’s right, you know,
Speaker 2
yeah, in the city high density, that can, that can be tough. People think as well, yeah, that’s right. And people think that, you know, investing in a city CBD can be, you know, super wonderful. But banks still have their restrictions around those two
Speaker 1
so you always think, if a bank doesn’t like it, then there’s, it’s a bit of an alarm bell, right? Yeah, exactly,
Speaker 2
exactly, right. So, yeah, definitely. As a broker helping a client, you know, we can give you a lot of that information and strategy up front before you go impacting your credit score and making that application, because if you do end up going to a bank getting rejected, then there is an impact there in your credit score. And every time you do that, there’s an impact on the credit score, whereas we can help you formulate that strategy and which lender to go to based on their policy and these as that’s most important is the bank policy, because it’s very easy just to buy a house as an owner occupier in Metro Sydney or metro Brisbane, but when you want to invest, there’s different variables. So you’ve got a there’s a lot more factors you have to consider, which is what we can help do in the background before you go and put that application in. Yeah, I
Speaker 1
think I find also with suburb selection, even sometimes with our own clients, there’s so much location bias where, if you live in Sydney and that’s all you’re familiar with, you gravitate to wanting to invest in Sydney, or if you’re from Melbourne, it’s around your comfort levels. But I think the most successful investors I’ve seen are those that are quite borderless. Are very open to having a very structured approach around suburb or area selection, and not really wavering from it and just taking that approach, yeah,
Speaker 2
because if you, I mean, think about it. If you’re trying to invest in a property that’s two, three streets away from where you live, it’s predominantly an owner occupier area, people want to live there and own the house they don’t want to rent. So, yeah, it’s definitely want to remove that bias and and think of it as you know. Some people say, think of investing in property as a business, right? Look at the numbers rather than being emotional.
Speaker 1
What you don’t know, right? So I think you know, really educating yourself on what makes a great area worthy of investing or getting, getting help if that’s what you need, I think that’s that’s really important so
Speaker 2
well, even one thing that’s come up a lot for me is, you know, after people will talk to a buyer’s agent like yourself, one thing they don’t look at, or that I can’t get the data, is the vacancy rates. If you’re investing in an area that looks, may look really good to you, but has a really long vacancy rate, then, you know, it’s going to be no good for you if you can’t pay the mortgage and there’s no tenant. Yeah,
Speaker 1
spot a spot on, and I think just on, you know, suburb selection. And for listeners who are trying to do it on their own, certain things that you need to look out for, from my perspective, is looking into an area that, from a data perspective, has a very low or downward trend in days on market. That tells us that buyers are very active in that market. And that’s a real trait, from a data perspective, that’s going to give you some confidence on what’s happening in the ground. On the ground, you touched on vacancy rates. So the lower, the better. A low vacancy rate is going to tell you that it’s relatively easy to get a tenant in that in that property from a supply perspective, looking in an area that has very low building approval numbers, so inward supply is is limited, low stock on market percentages, all really key pieces of information that you want to understand. But to me, I think days on market is probably one of the most crucial pieces of data to understand, and when you see it happening in a nice downward slope, that means that there’s something happening in that market. Read More
Speaker 2
Look, Thank. Hopefully, most people that I deal with these days are utilizing the experience of a professional, you know, like a buyer agent like yourself, so that person is able to give them that data. But when a client does come to me and they’re trying to do it all on their own, you know, I suppose one thing that we can give them is a is that is a bit of a core logic report that shows them an estimated market value. Or they try, and, you know, ascertain that themselves through, you know, on the house or something like that, some sort of internet domain research. But they find that they don’t know where to start in terms of the negotiating process. And you know, more often than not, especially nowadays, um, they’re just getting beaten out. It’s very hard for them to be successful in securing a property. Because, you know, if you’re a mum and dad investor and you’re competing against someone’s being represented by a buyer’s agent, it’s going to be very hard to compete against them. And so what they’re doing is they’re being forced into non ideal locations where there’s no competition. So they’re buying, you know, less quality properties, you know, in less ideal locations because the competition’s not there, so it’s easier for them to secure a property. And that may or may not be, you know, a detriment in the future in terms of the quality of the asset.
Speaker 1
Yeah, it’s spot on, yeah. And I think it’s really one just being very clear on if you’ve got a target property, well, what a similar property sold for in that suburb in the last three to six months? Yeah, the closer to the to the current date is preferential. But then also, if there’s not enough data, looking outside into the next suburb, really getting an understanding as to how many people are getting through these open homes. It’s the old shoe index. I always refer to it as you know, many shoes are at the front door, yeah, on a Saturday open home. That gives you a bit of a an understanding as to levels of interest. And then, you know, presenting your offer, I think when it comes to and again, just be good info for people not so experienced in it. When making an offer, I think it’s, it’s a mix of price and it’s a mix of terms and conditions. So the cleaner your offer, the better. And when I say clean, I mean, you know, very limited conditions, if you can go unconditional, then then great. But obviously you’ve got to dot your i’s cross your t’s finish all your due diligence prior. But just being very short on, you know, finance clauses, dates and building and pest inspection dates, if you can compact them as much as possible, finance is that tricky one where a lot of brokers like, the longer the better. Gives you a bit more flexibility and freedom with that’s right booking things. So it’s a kind of fine line. Right on our perspective, I try to just say, Give it, give it a two day finance clause. And then Peter says, No, nobody,
Speaker 2
10. Yeah. So on our end, we love a long finance clause, but yeah, it does make it difficult on your side to negotiate, secure the property. So it’s definitely important to get your the lending sorted prior so pre approvals and whatnot. And one thing that’s very popular these days is people buying in trusts. So and the thing with buying in trust is that getting your approvals in place takes longer, because the bank has to do their own due diligence on the trust itself. So they have to get their lawyers involved, do the KYC on the trust make sure it’s set up, established properly and whatnot. So that process takes two, three weeks longer than you just buying in your own name. So it’s important to get all of that sorted and get that pre approval, especially in residential investing residential property, get that sorted first before you start negotiating. Because if you then negotiate and then you haven’t got a leak to stand on, because you need 21 days finance and whatnot, then you’re going to get beat up by most people. So, yeah,
Speaker 1
no, 100% so I think it’s all around from a valuation perspective, being very clear on what your comparable sales are for that particular asset that you’re looking for when making an offer. One be very clear on that value. Have an understanding as to market conditions. That’s, you know, super important, and trying to keep your terms and conditions as clean and as as clear as possible, I think is, is the key sort of takeaway from that, sliding into into due diligence. I think when buying you know, whether you’re buying a property, buying a business, you’re buying whatever like due diligence is is paramount, and something that I find a lot of people sort of just fluff over and and don’t really spend enough time on it. But from a due diligence perspective, it could mean anything from, you know, building
and pests. Building a pest
is the key one from a
Speaker 2
that’s a big one that people try and negotiate on. Yeah, really check on. Yeah. So
Speaker 1
building your best that’s something you can’t, you can’t not do. But it’s funny, you say that you do see a lot of buyers still not doing them. I don’t know why, but for the sake of five, 600 bucks, getting a professional out there is, it’s a no brainer. But then also other bits and pieces around, you know, due diligence on that particular location been in the area. Are there overhead power lines close proximity? Is it on a busy road? What’s the percentage of renters in this particular street or pocket? Is it a in a flood zone, fire zone? One that one of my team members saw the other day in Adelaide is there’s a there’s a dolphin overlay, like what was. The hell’s that never heard of that I still don’t quite understand, but that’s one that is a new one for us in Adelaide. Yeah. So you really need to understand what these overlays mean, because is it going to have an impact on what you can do with this piece of land later down the track? I think most buyers now they’re familiar with with flood risk, fire risk, but there’s so many different other sort of due diligence pieces that you need to be aware of, yeah, anything else that you’ve come across,
Speaker 2
another one is things like easements running through the property. People buy properties because they want to do the value add. Maybe they want to do an extension. Maybe they want to put a granny flat on and, you know, if there’s an easement running through, then it, you know, makes it difficult in getting approval to do the construction side of things, you know? And that just
Speaker 1
depends on where the easement is, because that’s something we get correct, yeah, depends where it is, an easement on it. But I said, Well, it’s actually at the back fence line. If anything it’s going to be then that’s fine, a benefit, because it’s easy to plumb in your sewage, yeah,
Speaker 2
but if it’s plumbed through the middle of the property, then you know, you’re going to pay an extra 20, 3040, grand in cost to to peer around the easement or not. So, yeah, that, that sort of piece, that’s one thing that you know has come up in the past. But yeah, I think most of those items you mentioned before, around the location is, you know, important. What about infrastructure, like train stations and universities proposed, you know, the audience for
Speaker 1
those days, yeah, having a good understanding as to where they are, what they are, you know, they’re building a skyscraper next door or something. That’s stuff that you need to and it’s all readily available information. It’s just a matter of knowing where to look for it.
Speaker 2
Yeah, that’s it. You know, who wants to go troll through a council website and check, you know, check their plans and whatnot. But exactly that’s the sort of thing that can either save or make you or hundreds of 1000s of dollars. So Big
Speaker 1
time, big time, yeah, and yeah, you’re right, like the main so when people talk about due diligence, it’s all about, you know, building a pest inspection. So that’s about getting a professional to come through the home and give a an opinion on the the structural integrity of the building, and then also any pests like termites or borers or something like that. Again, for the sake of 600 bucks, I think it’s really important for every buyer, be it a family home or an investment property, you’ve got to do it because it also then gives you an opportunity, if things do come back in that report to then go back to the vendor and negotiate on few things like, hey, one, getting them to fix a few things. Or two, price reduction, yeah,
Speaker 2
reduce the price to lease, sell the property, and then give the the client the opportunity to fix it themselves by saving a bit of money on the yeah purchase. So
Speaker 1
absolutely, yeah. And it’s usually most vendors, again, depending on the how much interest was in that property and how many other offers were, were there, most vendors are open to negotiating on a realistic amount, be it a price reduction, because they don’t want the deal to fall over, unless there’s another offer,
Speaker 2
any anything. If you’re scared to ask, it doesn’t hurt just to ask the question, because the worst I’m going to say is No, exactly. But if you, if you do ask, and you get a chance to reduce the purchase price by two or $5,000 well, then you’ve had a bit of a win there. 100% you know, that covers the cost of your solicitor
Speaker 1
fees. Yeah, correct, yeah. So yes, I think, yeah, around due diligence, it’s, it’s important to really have a due diligence process in place, make sure you do a building and pest on every property that you are considering to buy. That’s, that’s something that you don’t want to avoid, and that’s something that you need to do. So, yeah, due diligence is a big component of of the investing journey moving into legal so when we talk about legals, it’s working with a good licensed conveyancer or property lawyer, and they’re really designed to one read through the contract or the vendor statement, if it’s in a state like sa or or Vic, and give you an opinion on if there are any risks in that contract contract, because, generally speaking, there’s very little risk in in a traditional residential sort of purchase contract. But still, you need an expert to run their eyes over it and just give them an opinion. Yeah, that’s right. Any anything to add there? I
Speaker 2
think the key to finding a good solicitor or conveyancer is one that is very good with their communication with you, because, particularly when it comes to key dates in a purchase, they can make or break it. That’s right, you got the cooling off period, you got finance clauses, you got settlement dates. You know, there have been cases where people have risked missing the property and losing their five 10% Yeah, because the solicitor just got some of the key dates wrong. Yeah, you know, so that’s super important. Yeah,
Speaker 1
there’s states like Queensland that if you miss the settlement date, the vendor can, yeah, they can just receive in the contract, and
Speaker 2
you lose your five or 10% and that’s so you could have all intents of proceeding with a purchase. And the key date comes up of finance clause, and, you know, I’ve got my finance approved and whatnot, I’m all good to go. But if you forget your, if your solicitor forgets to communicate that to the vendor solicitor, yeah, big time. That’s clause to say, Well, you didn’t communicate that. We’re keen to proceed. So, yeah, communication with a, you know, all the solicitors know how to do their job, but having a solicitor that communicates well and knows the key dates and communicates the. With you and with the vendor, I think that’s one thing to look out for to find a good solicitor. Yeah,
Speaker 1
no, you’re spot on. And there’s a lot of different types of Conveyances out there. The cheapest isn’t always going to be the one that’s going to do the right thing to buy you. It’s someone that has very good project management skills, has a sharp eye for risks in a contract and can give you, I guess Can, can give you advice on it, but then also has an element of commercial sense as well, where not all things in a contract are going to be bad, but, you know, having that commercial sense allows them to to propose an alternative to the other side, or something like that. But, but, yeah, missing key dates is something that I’ve seen really burn people. It’s definitely not good. Yeah. So yeah, I think takeaway on that one is one just working with a really experienced and a knowledgeable licensed conveyancer in the state that you’re buying in, and just working closely with them too, right? Don’t, don’t assume that they’re going to be on top of everything. Just take a very active approach throughout that period of buying and double check those key dates as well and keep them accountable. I think it’s that’s really important, definitely. Read More
Speaker 2
how they operate as a business, you know, how active are they? I’m a big fan of the
Speaker 1
smaller boutique owner operators as a property manager, particularly
Speaker 2
if you’re investing in regional you know, they work really well there. They absolutely know the area. They know all the trades, the contacts for the trades, you know, if you have to get things fixed up, you know, right, those sorts of things are important.
Speaker 1
Yeah, I think again, from my experience of personally investing, the stuff that that my wife and I have all our property managers are just those sort of owner operators, small boutique, and you get a great, great level of service, which is important, yeah, yeah. So property management’s really important because it’s a, I guess it’s a professional that you should have for a long period of time, as long as you own that asset. So someone that you can build rapport with and you gives you confidence that one they’re going to get market rent, get a tenant in quickly, look after the tenant. Really important, communicate back to you as quickly and as best as possible, and just give you the knowledge and comfort that your assets being being looked after.
Speaker 2
Yeah, exactly, particularly when it comes to renewing leases, you know, to keep the tenant in absolutely, you know. So on both sides, on one thing, you as an investor, you want the, you know, you want the rent to keep going up to, you know, get that rental income, but you’ve got to be realistic at the same time. And so, a good property manager, we quite proactive with that, and maybe suggesting to have maybe a small bump in the in the rent this time round, or, you know, work out what’s going to be that sweet spot for for you in terms of an increase in income, but then from the tenants perspective, comfort in knowing that they can afford it, and how long are they willing to stay, based on those negotiations. So, and that’s going to be key for you to to have that long term
Speaker 1
property managers. You find a good one, they’re worth their weight in gold, yeah. And I think for listeners that perhaps embarking on this on their own and wanting to find a property interstate, I think finding a like, if you pinpoint the location you want to buy in before you even find the property, go chat to a couple of local property managers, because they’re going to be the ones that will tell you the streets to avoid, or the pockets to really focus on, if you can they’ve got the local knowledge, they’ll give you insight as to what type of tenants you can expect in that area. Yeah, that’s really crucial. And last up is settlement. So I think going on the journey of investing is is a big achievement for everyone, getting to that day of settlement. Back in the champagne, getting those keys? Yeah, well, you don’t get the keys, really. They go to the property manager, but, but I think it’s a wonderful achievement. I know you and I will been through that personally for clients, it’s a, I think for now, it’s a big sigh of relief, isn’t it? Yeah, look, it is. And I think for now, me and my team, we get, I think we get a bit more excited than the client, you know, and getting to settlement, and because you know that there’s so much involved from deciding on doing, on, yes, you want to invest, to the settlement day, it could be months and months. It’s a big journey, but I think it’s a great achievement, a great accomplishment. And
Speaker 2
you know, obviously you got to make sure you celebrate it and enjoy that moment. But then that’s sort of where the job starts. You know, once you own that property, then it’s about maintaining it as well. So don’t think of the settlement as, oh, that’s the end. You know, we’re done exactly. Yeah, that’s just the start of the journey. Really. Yeah, absolutely.
Speaker 1
So I guess, in terms of the process we’ve gone through, look, so there’s some of the key sort of milestones that you can expect as a as a property investor embarking on that journey. And like all things, you can either do it yourself or get some guidance along the way. For me, when it comes to deciding on to invest, the one thing that I have always done from day.is you know, finance is the key component of of investing. You’ve got the option, right? You can either go down to the local bank branch and and get a get a loan through the local bank manager,
Speaker 2
your bank that you sort of have your transaction. Yeah, but now again,
Speaker 1
you can share the stats on how many loans are written by mortgage brokers, but I’ve always used a mortgage broker. I guess it’s all about getting access to 3040, 50 lenders, different products, knowledge of policy, and then getting the advice around what, what’s best for you.
Speaker 2
That’s right. And you know, between bank A and bank B can be a difference of, you know, 50 to $300,000 in borrowing capacity, which then largely will determine your investing strategy. Yeah, absolutely.
Speaker 1
So I think for for listeners, I think if you’re not using an experienced mortgage broker, it’s paramount. I think you need to to be doing that. Like they said, it’s not all about the interest rate. I think that’s probably the furthest or the last thing you need to worry about. Obviously, you want to be you want it to be competitive. But if you’re serious about investing and mapping out a portfolio plan things like maximizing capacity and and having a strategy around finance. You know, we might be starting with the big tiers and then going down to the second and third tiers and and whatnot, introducing trust lending and all that kind of stuff. You need a mortgage broker to really hold your hand and take you through that journey. So we’ll put Peter’s details in the show notes, and it’s like
Speaker 2
playing chess. Yeah, absolutely. You got to make sure you’ve taken the right step now, so that later on, particularly if you do want to have multiple properties, then you’ve done things correct at the beginning, so that it doesn’t then hamper you down the track when you are trying to get that third, fourth or fifth property,
Speaker 1
they’re spot on Absolutely. And I guess when it comes to to what I do, some buyer’s agent, reality is, for what we do, it’s it’s not for everyone. I think we we add a lot of value to lots of different clients, but you’ve got the choice. You can either do it yourself, through your own research, quite a bit of extensive research, but if you’ve got the confidence and and the ability and the time, then think great. You should give it a crack. But you know, for our clients that work with us, it’s pretty much the the challenge around time. So most people don’t have the time of tenacity, or, in some ways, interest as well. So we come in and map out those strategies, and I guess, leverage off the experience that that we’ve got within the team I’ve been investing for 20 years, so that’s been through a whole bunch personally, from an investment perspective. So it’s really leveraging off someone that’s done it now, personally and now for 300 odd clients over the last six
Speaker 2
years. Yeah, and you’ll be able to teach people what you know, what things to look out for that they didn’t even know, that they have to be aware of. So it’s well, it’s managing the
Speaker 1
risk of making a mistake over paying and whatnot. So that’s, again, an option there for people that that need some help. But look, hope you’ve enjoyed this episode, and I think when we were planning this first episode, it was more about just really giving listeners a glimpse into the flow of of investing from you know that idea right through to settlement. As you can see, there’s a lot of different moving pieces, but look, there’s people to help you on that journey, or if you’re doing it yourself, just making sure that you you’ve equipped yourself with good, solid research, and away you go. So I think key takeaways are, never embark on a property investment journey without a strategy that’s really important. Leverage off a mortgage broker and contact them, I think, make that contact with the mortgage broker at the time when you’ve just had that idea of investing, know your numbers
Speaker 2
up front, get your pre approvals, and then you can go to your buyer’s agent already knowing you know what the numbers are. So that gives them more information to give you, I suppose, a better, better strategy, better approach, what you know, what you can go, go for. Yeah, absolutely.
Speaker 1
And lastly, yeah, look at an experienced ba like me and the team you know we’re here to provide that. Value throughout that property transaction, but also not just for that specific property transaction. It’s about portfolio creation and done right? It can have a massive positive impact on your you know, your wealth creation and financial trajectory for you and your family, which I think is, is really important. So look, that’s it, guys, hopefully you’ve you’ve enjoyed that you’ve learned a few things along the way. It was great to have Peter join us today. Thanks. Yeah, it’s good to have a chat. Yeah, until the next show. Thank you. Bye. Bye.
Darcy Milne
Thanks for listening to this episode of navigating property with Ben Paul. Be sure to click follow so you never miss a new episode. And for more insights, visit bfpproperty.com catch you next time you.
