Simon Loo from Housefinder

You gotta bear in mind also that a BA also has a limit to how many properties they can buy, just like everyone else. Just because they can find them does not mean they can buy them.

 

I really do struggle with some people and their purchasing decisions. Had a client offer $5 million for a child care property, sight unseen. Another young couple had contracted to buy a land/house deal for around $490,000, again sign unseen. The slick marketing agent had them hook, line and sinker but forgot to mention that there was no street parking for 60 metres either side of the street while they neglected to mention the easement that took up their whole back yard.

 

Is this in the right thread?? I think you should get the mods to move it or create a new thread.

I won't turn that down btw if the bank is happy

 

Was it your money they were spending or did you offer any advice if they were such bad deals?

 

Our experience with Simon is very similar to yours BeefEater and we cannot recommend him enough. We used him for all of our Logan purchases.
The best advice we got from Simon was an actual strategic direction and and a proper plan in place. To me this was the most important information that I could ever receive as we were ignorant first time investors and had no idea what we were doing.
Fast forward 6 months, we are in the process of settling on our 4th IP (not in Logan).

 

I'd also like to provide some excellent feedback on @Simon L with regards to a recent purchase of ours. I had a particular asset, strategy and target in mind whilst working within the confines of an agreed budget. This particular asset had a purpose within my portfolio and long term plans. Simon was able to well and truly deliver whilst using some highly effective negotiation strategies during the purchase which further justified the usefulness of a good BA. For me it was more of a self-education investment as it was a financial one. He provided a valuable insight into the BA industry. He was more than happy for me to conduct my own due diligence with no added pressure. I believe the value was in his local connections to which there was also no pressure to engage with these individuals. For this particular market and location the money is most certainly made on the way in. Attention to detail and focusing on the numbers is critical. It was reassuring having Simon work in our best interests. I'd have no hesitation in providing an honest and upfront evaluation to any prospective clients. Overall my experience was extremely positive. Thanks Simon.
Thanks also to @Redom for his assistance on the financial front. He and
his team's service levels go above and beyond. They are extremely helpful for all forms of investors. His attention to detail and insights along the way were second to none. I feel his efforts would remain constant no matter how big or small the client may be. This I believe is the measure of value within a service. He provides such valuable information to investors continuing along their educational journey. No question went unanswered. Thanks Redom.
It's great to have such helpful members such as these involved within this community.

 

Have deal with simon multiple times, have not used his BA services,

but cannot recommend him highly enough
absolutely terrific

 

Hear good things about Simon. Best thing about using him is he has been around a long time now and he has all the contacts for houses off market. This is the only way your going to get instant equity because any house that gets listed or goes to auction is selling for way over asking.

The price you pay for his services in this hot market is well worth it imho.

 

BAs are great. Have used a few For my interstate purchases. Is Simon now based in Qld? A key requirement for me is for the BA to look on all the crevices that I can't from afar. I also Use B&P but I need the BA to give me the overall feel of the property in person

 

Hi Chris,
Simon Loo @Simon L found me property in Brisbane (Logan).

He is very knowledgeable of the area and has a ton of experience. Not to mention very friendly and gives solid feedback where its needed whilst working hard for his clients to get them under market property.

 

I beg to differ a lot of the BAs in Logan bought 6 years too early.

Not everyone has had a positive experience based on people I talk to. A lot not all have become poor service with volume as the key.

What is interesting..is a lot of newbies trying to justify their purchases.

To me paying 10k for substandard service does not make sense.

 

BAs wont help in a hot market....unless the owner is really stupid!

 

I've used Simons BA service few years back an overall good guy and knows Logan areas, although when I asked if he had other properties as the one he showed did not fit my criteria he didnt have any others and told me to "just sell it" if I didnt like the property, which I found odd. Not sure if he was on the ground often in Qld as he was based in Sydney back then.

 

Not surprised...as I said a lot just do volume...

 

While the person has to be good to work with, I'd raise my eyebrows at a comment like this. I need the property to work for me for as long as I chose to own it. As much as FOMO appear to be driving people's decisions, choose another location if you're choosing to be blind to comments/approaches like this

 

Yep...that sort of attitude is in the loo..... seems to be quite common these days with some of BAs and Mortgage brokers.

 

I beg to differ, I just bought 3 under market properties in Logan from Simon Loo.
It may be more difficult in this current market but you need a good BA.

 

How do you know they are under market?

 

So that I provide context...I am getting a few PMs regarding BA quality. I am NOT against using BAs...but just saying do your due diligence. I have been asked by people to help to buy...in Brisbane.

Here is what I am observing:

1. The market is crazy...not only in places like BCC, Moreton Bay now also in Logan and Ipswich.
2. I for one will move from a market when this craziness happens. I buy when the market is not crazy.
3. BA or not....I don't think anyone will secure a property unless they pay above asking in the current market.
4. If you must use a BA please make sure you have clear metrics in timeframes and expectations. Otherwise you will be disappointed and will lose your engagement fee.

Hope this helps....provide context to what I am saying.

For the record...I have openly declared that Brissie is to hard. Thus have moved to other markets....my strategy also focuses on newer places...thus may not suit anyone.

As always remember..I could be just a yahoo on the internet....so as always due your due diligence. There are some very successful people on this forum - learn to sort the wheat from the chaff.

My 2 cents worth....

 

The market is whatever the price is paid ....

I'm thinking what people mean is that they bought 'under the average price' for that type of property. As long as it fits their longer term approach, all good.