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How to find a good Mortgage Broker?

Discussion in 'Property Finance' started by moyjos, 9th Nov, 2015.

  1. moyjos

    moyjos Well-Known Member

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    Lets make this a thread for education.

    There are lots of mortgage brokers out there, how do you find a good one?
    Do you have some "interview" questions for a prospective broker?

    I personally looked for someone who -
    1: I was comfortable with
    2: someone who understood what WE wanted not just pushing the best deal for them.
    (There has been some discussion sometimes to modify what we thought we wanted :confused: )
    3: someone who will be there for the long term, who invests themselves (and in our case) who is self employed so fully understands all the challenges that involves :)
     
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  2. euro73

    euro73 Well-Known Member Business Member

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    There are at least half a dozen very well credentialed brokers on these forums.

    Above all, ensure you work with someone who has the experience and skill set to help get you where you want to go. Someone who has multiple investor clients with large portfolio's, where they were a key partner in growing that portfolio. And really, they should own a portfolio themselves. It's always wiser to accept advice from those who successfully practice what they preach, rather than those who dont.
     
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  3. 4point5million

    4point5million Well-Known Member

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    The easiest way is just to email some of the regular experienced posters, you soon find they all use the same guy!!! lol
     
  4. D.T.

    D.T. Adelaide Property Manager Business Member

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    Maybe all the brokers on the forum are actually the same person?
     
  5. S1mon

    S1mon Well-Known Member

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    yellow pages imo
     
  6. Biz

    Biz Well-Known Member

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    Send them an email at 11 pm and see if they respond.
     
  7. moyjos

    moyjos Well-Known Member

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    Aww come on guys.. I was trying to start a serious thread for the newbies.
     
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  8. 4point5million

    4point5million Well-Known Member

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    Maybe all the posters are the same people!?
     
  9. 4point5million

    4point5million Well-Known Member

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    Call them on their home land line at 2am and ask them for a free residex report
     
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  10. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    No.... but a broker who quickly responds to the emails you send at weird hours is a keeper.
    Much better than one who won't return your multiple calls/emails after several days and loses you the deals...
     
    Last edited: 9th Nov, 2015
  11. Biz

    Biz Well-Known Member

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    Helps if they put on a good spread at chrissy too hey @Gockie ;)
     
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  12. Hodge

    Hodge Well-Known Member

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    My broker replied to all my emails and got the deal over the line while holidaying in Europe. That's good enough for me!
     
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  13. D.T.

    D.T. Adelaide Property Manager Business Member

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    I prefer to respect people's operating hours myself. I'm not 24/7 (though some would argue so:p) so I don't expect anyone else to be
     
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  14. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    As an Airbnb host, if I see a request or question from a guest or potential guest, I respond ASAP, as long as i'm awake, and not focused on other work. Guests like it too when you are very responsive to their enquiries.

    Having a broker who responds to emails at all hours of the evening or even in the early morning is icing on the cake...

    Totally unexpected, but having had an unresponsive broker before, I know which I'd rather have on my team....
     
  15. Sonamic

    Sonamic Well-Known Member

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    We are in the same neck of the woods @moyjos so who do you use?
     
  16. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    @Jamie Moore did this for one of my clients, maybe it was him helping you too!!!

    Seriously @moyjos I find recommendation a great way, and having have experience with @Peter_Tersteeg and @Jamie Moore I wouldn't hesitate to use or recommend either of them. Also have heard good things about a few of the other regular posters here so sorry for playing favourites, I'm sure once we have had more mutual clients I will sing your praises too.

    Edit - can't believe I left out @Rolf Latham :oops::oops::oops: he's a towering oak of a broker!!! Sorry Rolf.
     
    Last edited: 10th Nov, 2015
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  17. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    If interviewing from scratch however, I find questions about investor portfolio size (like "how many property investors have you taken to 5 or more properties") and niche lending like smsf questions "how many smsf loans have you completed in the last 6 months...and who are you using" tend to make the backyard brokers squirm.
     
  18. D.T.

    D.T. Adelaide Property Manager Business Member

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    Yep - @Corey Batt was doing refinances and purchases while in Thailand earlier this year too.
    Being responsive and being up all hours are two very different things. I think hobby accommodation is a different industry with different expectations.
     
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  19. cheekykoon

    cheekykoon Well-Known Member

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    @Redom replies emails at weird hours and superfast!
     
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  20. spludgey

    spludgey Well-Known Member

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    Mine replies while on holidays (I don't think he's on these forums), but I tell him not to and that I'll talk to him when he gets back.
    There's no way I would work while on holidays, so I'm not expecting other people to do it for me either.
     
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