Hi from the NT! Looking for advice :)

Hi everybody,

I've been snooping around in this forum for a while reading a lot of great stuff but finally joined up myself!

Me and my partner are just trying to get our heads around everything associated with property investing and we are trying to learn as much as possible before we take the leap and commit to our first investment property. Living in the NT we will be buying interstate so I'm researching the best options for us to do so. What are your thoughts, is it recommended going through a buyers agent if buying interstate?

We are really just trying to set our long term goals and then try to figure out the best way to reach these goals. I would love to get advice from people that have done it themselves and lessons they've learnt along the way. Looking forward to chatting to you all!

 

Hi and welcome

Definitely pros and cons to using a BA, where are you looking to buy? Some people enjoy the searching and negotiating and some people don't, or do but don't have the time. There's good ones that contribute a lot to the forum such as DaveM in Adelaide, Proportunity in Sydney, JacM in Victoria, etc.

 

Thanks D.T.

We are currently looking in the Brisbane area the most but haven't really decided. Knowing myself I wouldn't be comfortable trusting anyone else and taking their advise without doing extensive research myself. On the other hand I know there are so many experts out there that do this for a living with a lot more knowledge and experiece then me. Its a tough one, I would like to be able to do it myself in trust that I am doing the right thing but it might be smarter getting the advice of someone else, especially now when we are just staring out.

 

You wouldn't consider buying where you live? You can keep an eye on the property much easier that way.

 

Howdy

Keep reading and get a feel for your goals and plan of attack, its an evolving process the more you read.

BA's are a great way to get access to on the ground knowledge and deals. you can research yourself but in my opinion not being there yourself and meeting agents etc can be a challenge. Keep looking to target areas yourself, then find the ba's that specialise in those areas .

I used a BA in Brissy recently and I had been watching for over 6 months so knew deals were there but they came to me with more and also first hand info from agents that I wouldn't have got being interstate. I was running out of time and didn't have the time to be making calls establishing some form of relationship with agents, not that you always need it but you need to be ready to buy and jump in as things are moving quick

 

Where in the NT are you? should be some decent buying soon. Aren't they 5 years out of their last boom?
I'll be in either Alice or Darwin in May (not sure which yet as my daughter is moving) if you want someone to chat Bout general investing with.

 

You've come to the NT at a fantastic time. The market here is in real trouble.

Which means you get reduced rent so you can invest more elsewhere or you can pick up some of the wreckage locally.

Either way...you win.

Welcome to the forum.

 

Because NT is still falling in price.......no use driving by your IPs that are worth less each time you go past.

 

As mentioned by Propertunity the prices are still falling and I just can't see that changing any time soon. We really want to get the first couple of properties right with a good prediction for capital growth and I don't feel confident about that here in the NT.

 

Thanks for the advice bob shovel. I've done a bit of research about buyers agents in Brisbane and I've seen a lot of good stuff about Property Zest. Who did you go through?

 

Hi, we live in Katherine so it's a 3 hour drive from Darwin. The advice I've gotten so far is to stay away from the market here. I think there is a fair bit of development yet to finish in Darwin so there will probably be a big over supply of apartments and the vacancy rates I believe have already increased a lot from what they used to be. I personally believe the prices will drop even more over the next few years so maybe in a year or two it's something we would consider.. Would love a catch up if we happen to be in Darwin at the same time.

 

How long have you been in Katherine? We're planning a trip up WA, then trough to Darwin and Alice over 2 months later this year

 

Gday Emma.
Don't be scared to buy interstate.
Whether you go to physically visit or not, you still need to do a lot of research on your chosen area.
Do as much as you can, then maybe go for a visit and have a drive around.

 

We've lived here since late 2014, enjoy your trip!

 

Thanks for the advice, sounds like a good plan.

 

Hi Emma,

It can be good to go through a Buyers Agent providing you get the right one. I know someone who provides he's clients with a very thorough assessment of 3 areas they would like to invest, then finds a property in the area the clients choose and will fly anywhere in Australia to assess the property himself or even go to auction for the client! If you can get someone that dedicated its worth it. Just make sure they are not choosing from a database of properties as they are generally getting a kickback from the sale of the property and may not in fact be out for YOUR best intentions.

Good luck with it all, you are in for an exciting time ahead!