Interstate buying experience

No. I used Property Zest.

 

I just bought off market in a different city using a BA. I find the thing that was most beneficial for me was using a BA with local knowledge and contacts. Don't get me wrong, I would've been able to achieve the same result, however it would've taken me a couple months of flying down every weekend to know the area and network with agents enough to land such a deal.

 

Pleasure @Gypsyblood I think it's imperative that you consider all the scenarios. Best of luck with your impending purchase whatever way you go

 

Hi @lost nomad Thanks for the feedback however I'm no longer REBAA President but can bring it up at our next drinks meeting for discussion.

If you are looking around the Tweed coast I know which REBAA members I'd use but it would be a personal recommendation so feel free to email me if you'd like my opinion here (please note I have no referral fee arrangements but past clients have used them and been very happy)
See my website for email....

 

I probably should add, I did all my research remotely. I looked at suburbs that I think will do well and basically narrowed down the list. I gave my BA my list of suburbs and criteria for feedback. From there I ranked the property types I was looking for in each suburb.

For eg. In some suburbs I was looking for development sites, others buy and hold (these suburbs had a higher median). I had a minimum yield for each suburb as well.

I did end up flying down to see some of the suburbs - which I'm glad I did. Some of the gentrifying areas felt like they still had a good 10 years to go before it would be gentrified, much too long for my goals.

 

Hey mate, did you stay there 2 weeks straight or over multiple trips?

Can you inspect many properties mon-Fri? I thought most home opens are on weekends.

 

2 weeks straight. Most useful knowledge was just driving around the suburbs. But yes, there are usually home opens during the week.

 

@Perthguy can I ask about the dog suburb next door and where it was?

 

Heidelberg West. I was looking in 2007 and Heidelberg West was a real no go zone. Heidelberg Heights outperformed Heidelberg West for about 9 years. It's only recently that Heidelberg West has surged ahead and it's only really one pocket but that pocket is killing it. Development sites selling for near $1,200 per sqm. Incredible!

 

Bear in mind too that 30% of the properties are tenanted and agents need to give "reasonable" notice of an inspection (generally considered to be 48 hours notice) which is why REAs lock in a 30 minute time slot on a Saturday to avoid the issue.

 

Only problem is in a booming market ie Melb.....BA are sourcing same product for many clients, you are in a que so to speak, in boom markets time it takes to source property is crucial, this is the stumbling block IMO.