First investment property

Hi all, I am looking to buy my first investment property in Perth and having done a considerable amount of research am still wary of going it alone. Has anyone employed the services of Momentum Wealth in Perth is assisting them to find property? Or would anyone be able to recommend other reputable providers of such a service. Any help or advice would be greatly appreciated, cheers.
 
Theres a couple on here who have used them and usually have good feedback.

But what part are you finding so difficult?
 
Further advice

Thanks DT for the quick response, to be honest the part I am struggling with is where to buy. I've read a few of the threads on this site and it seems not many people are investing in WA at the moment, prefering properties on the East Coast, would that be a fair assessment in your opinion? If so that throws the net even wider, where would you suggest I start, any help or guidance would be greatly appreciated!!
 
I think you need to be more sure about what your goal / strategy is, because there'll be a smallish amount if places that fit that
 
Hi all, I am looking to buy my first investment property in Perth and having done a considerable amount of research am still wary of going it alone. Has anyone employed the services of Momentum Wealth in Perth is assisting them to find property? Or would anyone be able to recommend other reputable providers of such a service. Any help or advice would be greatly appreciated, cheers.

Hi manchester,

Yes I have used MW. Very good experiences on my part and still have a positive ongoing relationship with them. Happy to discuss further via pm if theres more specific advice your after.

Thanks DT for the quick response, to be honest the part I am struggling with is where to buy. I've read a few of the threads on this site and it seems not many people are investing in WA at the moment, prefering properties on the East Coast, would that be a fair assessment in your opinion? If so that throws the net even wider, where would you suggest I start, any help or guidance would be greatly appreciated!!

Plenty of us still buying and developing in perth.

But Lets take a step back and ask the hard questions. What are you trying to achieve through property? Only then can we put the pieces together to help you get there.

Then you can talk areas, budgets, strategies etc because there lots of paths that you can take.
 
Strategic Solution

Thanks Manchester,

While we can certainly help, you can find comprehensive information on available investment property on the Central Property Exchange. All property is graded.

You must have a strategic discussion though, there are some traps you need to stay away from such a vendor agent bias and hefty fees.

Most investors do not see the cash flow behind the advise they receive and end up paying too much and cannot understand why valuations do not stack up.

All the best !
 
Thanks

Thanks everyone for all your input, this forum appears to be an invaluable resource! I will put together my investment strategy and share it with you for more help if that is okay with everyone, once again thanks for the support!
 
Most investors do not see the cash flow behind the advise they receive and end up paying too much and cannot understand why valuations do not stack up.

pretty rare in my experience for an independent BA sourced prop to come in low on val.

Many 2 tier one stop shops this is obviously different

ta
rolf
 
pretty rare in my experience for an independent BA sourced prop to come in low on val.

Agreed.

I haven't experienced a lower than purchase price val for an independent BA purchase.

Can't say the same for OTP stock in big, shiny new developments though.

Cheers

Jamie
 
Agreed.

I haven't experienced a lower than purchase price val for an independent BA purchase.

Can't say the same for OTP stock in big, shiny new developments though.

Cheers

Jamie

It could happen (banks can do silly things) but I haven't had one yet.

I once had one where the val was fine came in at purchase price the but the bank suddenly wanted to take LVR from 90% to 80% as they cited postcode risk (it was not regional and I am still scratching my head why). I sent them a stern letter with lots of comparable data showing it was in fact 30k under all of the last 9 resales in that complex and threatened to take the buyer from that bank to a broker and a separate lender and they approved 90% in 4 minutes from when I sent the email!

Funny thing was he was an employee of the bank! He laughed and said it was fun talking to the bosses of his lending department that afternoon.
 
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