Melbourne Buyer's Agent for Budget Investors

Hi everyone,

I'm looking to buy interstate in Melbourne in areas such as Werribee, Ardeer, Deerpark, Albion, ...
My budget is 500K for a freestanding house.
I'm looking for a buyer's agent who's happy to help investors like me who're on a tight budget. I'll do suburb research and property listing search on RE. The agent will assist with the inspections, making offers and negotiations, building and pest inspections. I will deal directly with the conveyancer and broker. I can source the build/pest inspector and other trade people myself too.
My budget is under $5K for the buyer's agent.

Do you know any buyer's agent would offer this service? I contacted a couple of Melbourne buyers agents recommended on this forum, but they only offer the full service which is way out of my budget.

thanks

 

I think part of the problem is that every buyers agent I know is flat out at the moment, they've got waiting lists of people wanting to buy under their full service models.

 

Wow, I didn't know there's such a high demand for them. Thanks @Peter

 

You'll struggle for under 5k in Victoria or just about anywhere else for that matter.
I know DaveM on this forum is under 5k for a purchase under 300k in Adelaide but that doesn't help.

 

Thanks duanerek. I'm totally new to buyer's agents. How's about $6-7K (inc GST) for VIC? any recommendation?

What'd be the recommendations if we want to buy by ourselves interstate? I heard on the podcasts that some people have done it. Of course, I'll check Google Map and Earth carefully, perhaps ask someone to look at the property too, and asking other people on forums about the neighbourhood. Any other advice you would have?

 

@JacM does a $6700 + GST budget investor package but its up to 400k only.

Middleton Buyers Advocates
Middleton Buyers Advocates

 

Are you poor on time or on budget ??
Buyers agent might help you when time poor.

If only on budget then it makes more sense to catch a plane and visit Melbourne for few weekends. This way you go through the process too and you spend pretty much the same $$.

• You'll have to be well prepared and plan all inspections accordingly.
• You'll need to be quick in decision making, especially in current hot market.
• Make sure you already talk to a building & pest guy im advance.
• Get your finance pre approved so you know your limits.
• When inspecting properties, do chat to RE agents and ask them of any upcoming properties too even though you like the property you just inspected.

Given that you are willing to do all the research yourself, better do it all by yourself.

 

Most Buyers Agents seem to charge 2%.

Have you considered reducing your budget to $495k and getting a good BA rather than a Budget one?

Surely it would pay off in the long run and a good buyers agent will probably save you that cost on negotiation.

 

Have a chat with @JacM

Not sure how much she charges but does a great job.

Cheers

Jamie

 

Building and pest inspection you can organise easily as well. The main thing is inspections and negotiations. You can also provide your details to different re agents and get them to keep you in mind regarding listings coming up.

 

Albion - no chance
Ardeer- blanche, maxweld, suspension but you would have to be lucky
Deer park- 500 is doable

Werribee- pretty easily but if your going to go there might as well go frankston, much better area and better placed for growth long term as its not surrounded by farmland

One thing ill mention is that ardeer median was roughly 320k about 2 years ago and now its 520k. So for you to see good growth after stamps etc the prices will need to reach 650k. Thats doubled its price in 3- 4 years.
Historically places that have doubled in a few years havnt faired as well afterwards. Could be a long wait for good growth from your perspective if you choose to buy. Add to that the holding costs of 15k a year as the property will only rent for 300 a week

 

As someone that has never been to Melbourne, I wonder why people speak so often about Frankston? What is it that is attractive to invest there? First thing that I notice is that its 1.5 hours from the CBD. Would you clue me in on what is it that offsets that to make it so attractive for an investment?

 

So if great beach, cafes and restaurants dont do it for you, perhaps the large hospital, revamped TAFE college or university campus might. Maybe its the many small to medium businesses within 15m drive. Or perhaps the freeways or public transport.

Only downside is distance from CBD, but well serviced by train and certainly a "snoozable" trip.

Oh...and a little further from the CBD the prices are much higher (check Mt Eliza out)

 

Oh right - thanks for the info.

Are there jobs around there also? If not, would it be correct to assume it would have a higher demand for renters over purchasers since maybe people would want to live there for a few years but not long term (unless you could work from home or at the uni/tafe)?

 

@JacM is the only one in your price range and she's very highly regarded on this forum.
You could continue to access info on this forum but if you're in a bit of a hurry I'd suggest using a BA

 

It's 1.5 hours to the CBD in busy periods but about 40-50 minutes otherwise.

It's a business and employment hub for the area. Beachside suburb. It's also in a general lifestyle location. There's quite a bit going for the area.

 

Frankston like Dandenong and Sunbury have been identified as Satellite CBDs for Melbourne. Throw in the beach, shopping, health facilities as well as trendy cafes and trainline Frankston is fast shedding the rough neighborhood tag. It is also surrounded by more expensive neighborhoods to the north and south. I am looking at Frankston for my next IP.

 

Thanks for the info @Ghoti, @Peter_Tersteeg, and @WellKnow. Nice to get some local knowledge.

 

Yes, that's my plan. I'll contact selling agents in the area I'm looking at and let them know my criteria.

 

Thanks for the suggestion. I'll consider that