Thinking about investing in property? Read this first.

Real estate makes more millionaires than any other asset classes, this is one of the reason why investing in property appeals to the masses. Through my years of being a real estate agent, developer and now buyer’s agent I have learnt that successful property investors are people that plan ahead and know all the pros and cons of investing before they purchase. 

I always liked the saying ‘failing to plan is planning to fail’ and this rings true for property investing.

When advising my clients that are new investors we look at the type of investment that suits their life style. For example, negative or positive gearing, normal rental yields vs high rental yields, high growth property that is expensive or cheaper property with low capital growth and importantly the best area to buy in.

Other aspect that is out side of a buyer’s advocate’s area of expertise that is critically important is finance. Different types of loan products can give you different levels of security eg: interest only repayments vs interest and principle, redraw facilities at your disposal or using LMI insurance, minimising the risk of your pre-approval by removing or satisfy conditions.

Once deciding on all the above there are the hidden costs of purchasing that few consider during the planning phase. For example, stamp duties, land taxes, body corporates, legal fees, property maintenance and insurance (rental protection and building insurance) and finally choosing a good accountant.   

For a more in depth look into the pros and cons of investing from a buyer advocates prospective check out the article: Investing In Property. 

Buying your first home or investment can be a difficult process that many find over whelming, hiring a buyers agent can increase your chances of owning property portfolio that will help you achieve your financial goals sooner. For a consultation free meeting on getting into the property market contact us via email or call us on 1300 00 WISE.

Mark Ribarsky.

Senior buyers agents at Wise Real Estate Advice.

Renovation For Profit

Handy with the tools and fancy the idea of renovating a property to make money? It’s a popular concept right now considering successful shows like ‘The Block’ makes it look easy.

Over the years I have renovated properties and sold many renovated projects on behalf of vendors and learnt that half the job in making healthy profits starts with the right property selection.

Good property selection is a learnt skill and will help you avoid the traps amateurs make. Some tips to look out for is:

-       Location.

-       A unique property that will attract buyers and renters.

-       A property that needs minimal work to avoid over spending.  

-       Stay away from property with structural issues.

-       Targeting a popular demographic for the suburb to maximise buyer competition when selling.

-       Functional floor plan.

-       Accessible off street parking.

For more detailed information on the topic check out the article on: Renovating For Profit.  

Decisions made at the start of the project will benefit you when it comes time to sell. If you are new to the real estate game and would like to avoid the mistakes of buying the wrong property consider hiring professional real estate agent to the hard work for you. Leveraging a buyer’s agent’s experience means avoiding the pit falls of buying and giving yourself the best chance to make a profit on your first renovation project.

For a free consolation call wise on 1300 00 WISE to hear more about how buyer’s agents have helped there customers purchase diamonds in the ruff.  

Advantages In Using A Buyers Agent.

Wise Real EstateAdvice, is a growing buyers agency group located in Melbourne. Wise specialises in residential property market with an emphasis on home buyers and investors.

Director and senior buyer’s agent at Wise, Mark Ribarsky has been helping property buyers gain numerous benefits over the broader market. “I have helped many people, from first home buyers to experienced investors to buy a property, that they otherwise couldn’t have done by themselves because they used a professional buying service.

A real estate agent is experienced in maximising the sale price for their vendor. “I’ve worked for one of Victorias biggest real estate franchises closing hundreds of deals over the years. Though regular training and daily negotiating I learnt real estate agents gain large advantages in controlling scenarios in favour of their vendors.

Buyers typically engage the services of a buyer’s agent for a number of reasons.

• Leverage your time, buyers advocate does the hard work short-listing suitable properties.

• A buyer’s advocate is a professional negotiator; they have the skills to obtain the lowest possible price.

• Eliminate the stress and frustration of being shown inappropriate and unsuitable properties by agents.

• A independent professional buyers advocate working on your side.

• Buyers Advocates, in most cases they will save you the fee and do all the hard work for you.

• Melbourne based buyers advocates know your local market. Source the right type of property in locations with good prospects for capital growth

Considering the property purchase will likely be the single biggest investment for many Australian’s, it makes sense to speak to a specialist company such as Wise Real Estate Advice who deals for buyers on a daily basis.

A buyers agent is able to look past the emotional connection of an owner. They can keep pragmatic and logical to provide sufficient third party guidance to ensure the purchase meets the buyers needs and wants. Along with this is a level of confidence and comfort knowing that the property has been thoroughly examined to ensure it’s worthy of the investment.

Buying your first home or investment can be a difficult process that many find over whelming, hiring a buyers agent can increase your chances of owning property portfolio that will help you achieve your financial goals sooner. For a consultation free meeting on getting into the property market contact us via email or call us on 1300 00 WISE.

Mark Ribarsky.

Senior buyers agents at Wise Real Estate Advice. 

Paying more to live in school zones?

School zones 

Many family and future family couples are very aware of the ‘My Schools’ website and use it to determine the area they would like to live in.  Higher scoring State Schools and their surrounding properties have parents paying more to purchase a home or even rent a home.  

Good schools basically establish  a good area so weather you are a parent, a future parent or neither a Good School Zone is a great purchase for anyone.    

     Good future resale value

When purchasing a property many things are considered. Although it is the furthest thing from a buyers mind, one very important aspect should be the resale value. Purchasing near a Good School Zone is a little bit of peace-of-mind and assurance of a good resale value of your property purchase.      

School zone boundaries

Schools that are popular and have a great reputation often have to place residential boundaries on their student intake.  The properties within these boundaries often benefit as they are highly sought after and often sell for a higher price then ones outside these boundaries.  Therefore all property owners are able to benefit from the school zone boundaries.

What Our Buyer’s Agent Have To Say

Always choose to buy property close to the amenities such as public transport, major infrastructure and shopping centres. However, schools are a major drawcard. It’s now common for families to rent a property in a specific school zone to get their child into a good school. So if you want a family with school-aged children to rent your investment property, purchase a property near a school!  How do you know a highly sort after school? Check out the government’s web site NAPLAN. It contains test scores for the national standardised tests, known as NAPLAN, and a wealth of information about schools around the country.

                ‘Areas in top performing State Schools are consistently fetching higher sale and rental prices’ - Wise Real Estate Advice senior buyers agent Mark.

Buying your first home or investment can be a difficult process that many find over whelming, hiring a buyers agent can increase your chances of owning property portfolio that will help you achieve your financial goals sooner. For a consultation free meeting on getting into the property market contact us via email or call us on 1300 00 WISE.

Mark Ribarsky.

Senior buyers agents at Wise Real Estate Advice.