Victorian rental yeild/ investment gurus

Hey Brains Gang,

We are looking for some extra help moving forward with property purchases in the future.

Is there anyone in Victoria you would recommend, to help us find regional areas with rental yield benefits whilst working to a brief given by us (e.g style, distance etc).

Whether, property investment specialists, buyers agents, property experts or even mentor like guru's looking for some paid advice.

Thanks!

 

Hey JKWS,

If you tell me the towns you are interested in then I can probably give you a list=but need to know if this is like the big ones of Bendigo, Geelong and Ballarat-or the smaller end like Horsham, Moe and Wangaratta-or even the ultra small sub 10,000 people towns.

Cheers.

 

I'd probably avoid anything under 25K people myself just so that there's actually a market for rental properties.

 

I am not really familiar with Victoria, or your proper intensions for or of this intended purchase.

But I will offer some advice to you for now, and that is that you should at least broaden your horizons. If your intension was that you like the location and plan to live there in future then fair enough. But if your intension was more investment or possible future subdivsion for example, you should broaden your thoughts further than Victoria. While Victoria may be the answer for you, I do not really know. But to say you wish to invest in Victoria just because you live there, or drive past to look at , may not always be the best investment.

It is a bit like saying I want to buy an investment in W.A because I live there, or I want to buy in Darwin because I live there. Or some may say the same for Sydney, and it may not always be the best when it comes to investing.

It is sort of like saying I will only buy banks stocks and nothing else. But again your intensions are a little vague.

All I am saying is that if a good opportunity were to arise that may be not necessarily be in Victoria, you should at least look into or consider it. You may be missing out on a better opportunity by narrowing your field down to that rather small land mass on the map of Australia that is Victoria.

Good luck with your endeavors.

 

Thanks for the info guys, yes being very vague.

Any companies we can recommend?

 

1. Empower Wealth will do Geelong for you
2. Performance Property Advisory
3. Smaller than that I can only think of Propertyology

Can't really vouch for any of these companies & their performance, bar that they are big and will likely offer the mentor aspect you desire.

For real though if you actually detail your strategy here on Property Chat we ca all help you decide whether a buyer's agent is even warranted, I know you want to keep it vague because maybe you cottoned on to a great idea or something like that, but I too have thought of great ideas only for those on here who have tried them to shoot them down (most property investment schemes have been done before).

 

Thanks Henry, appreciate the insight into the areas they know also! Thats handy info!

Also, couldn't agree more with what you've said about ideas getting pulled apart on here! Thats what it's all about. However Ive got partners and don't want to upset anyone.

No crazy ideas, just utilising methods already out there.

 

I recently used a company mentioned by Henry to purchase regional vic. What info are you after?

 

Basically we have set criteria in terms of housing style, price range and distances from the CBD. we are looking to work with someone or a team that can work within these perimeters and produce best outcome purchases for us when we need throughout the years.

Ive never worked with a buyers agent or investment advisory before and to be honest Im suspect on them all! So I really just want a trusted account of the service provided.

 

I'd be speaking with Jacqui Middleton, she posts here as @JacM

She covers Wester to Northern Melbourne, Geelong & Peninsula, Ballarat. I've dealt with her in a number of locations and I know she puts quite a bit of effort into the overall strategy. Definitely worth a phone call.

I don't see Bendigo doing anything special in the near future. There was a lot of growth there about 5 years ago, it's been doldrums ever since.

 

I'm happy to share my experience, but would rather share name of business via PM.

So I approached a business around July 2018 to get some guidance around property. At the time I had a PPOR and was planning on selling and purchasing elsewhere. I was open to suggestions and went in with an open mind. The advice provided was to keep said PPOR, convert to a rental property, and purchase an additional rental property. This new purchase was to meet a certain criteria of price, yield, and expected growth. This process took approx 6 weeks.

I decided to go ahead. I was surprised with how long it took to refinance the existing PPOR (approx 8 weeks) and then the same bank took an additional 3 weeks to provide a credit card. Then it took an additional 3 weeks for pre-approval for the investment purchase. So approx 14 weeks for finance which I though was crazy, but moving on.

Next step was Buyers Agent. The brief for the buyers agent was flexible for location, just had to be in oz, and hit the price/yield/growth parameters. Initially they were going to target a different location/asset. Christmas came, then the BA was on leave for 4 weeks, Its now February. Still no purchase. The BA ummed and arghed about location. Im not sure why. I don't know if this is because I was low priority or some other reason, but there was no real rush which I was surprised with. Eventually the asset search narrowed down to regional VIC. Then came the process of selecting an actual asset and securing a property. We ended up securing something at the lower end of the advertised range. Initial offer was accepted.

In short. I found the process took a long time. I found I had to chase things from time to time. Given the price of the service I expected more.

As far as the BA hitting the brief of price/yield/growth, they did achieve that. As far as future performance, time will tell

As for what criteria the BA looks at in selecting a property, Im happy to share some of this in a private message

 

@Peter_Tersteeg will laugh because I direct people to this so often, but have a look at this post JKWS from another Thread=some tougher questions suggestions to allow you to scope out suspect buyer's agents.
Who is the BEST buyer's agent in Melbourne

 

You guys have been a huge help, that's the gold I was after.

I would be so ****** off if that was my experience, like Henry said there's enough information on PC. Might just seek a mentor or someone with experience to advise on the plan moving forward rather than have someone with less experience give me the run around whilst I pay them.

 

All I can say is Propertyology is so hard to deal with they couldn't even find a timeslot to speak to us and offered us a handful of timeslots middle of the day when we could not do due to work commitments. In the end after trying so hard we were told they can only make calls upto 2.30pm on weekdays and not after. I was surprised with their response specially after us willing to spend $11k on them, so instead gave up moved to another BA.

 

Hi @WellKnow - That's unfortunate that you weren't able to schedule some time to discuss with us something as important as investing. We conduct client meetings/discussions during business hours to ensure we provide you the best service possible. Like you, we have families and lives away from what we do for work. Whilst I'm constantly searching for properties and negotiating with agents after hours, unfortunately we just can't be available at all hours and would not be doing the right thing by you or any client if we weren't able to give you 100% of the attention you deserve during such an important conversation. Again, unfortunate that we weren't able to chat further but feel free to reach out if you have any questions.