Looking to purchase a property? Why not associate a buyer’s agent?

  • What do they do?
  • How can they benefit you?

Read the following blog to know more on how you can be benefitted from them!

What does a buyer’s agent do?

Lot of us assume that hiring a buyer’s agent is a complete waste of money. They trick us into buying the properties that they get more commissions from, or that they make us invest unnecessarily on services that are not beneficial to us. However, these are completely false allegations.

If you want to buy a property, your agents will thoroughly search, evaluate and negotiate the purchase of a property on your behalf. In order to become a “buyer’s advocate”, as they are alternatively called, they need to be properly licensed to offer their services. However, please note that they do not sell real estate. While real estate companies represent the seller of the property, a buyer’s agent takes care of the buyers.

You obviously has a certain criteria based upon which your advocate will identify the properties suitable for you. Whether you need to purchase a particular property or gradually build a large portfolio, they will help you find the right properties for you.

If you struggle with auction bidding or negotiating the right price for a property, your agent will help you meet those needs too.

How can I get benefitted from a buyer’s agent

Other than these two above mentioned advantages, you can benefit from your buyer’s agent greatly and these includes

  • Faster and wider access to properties
  • Buyer’s agents have access to a wide range of properties that you may not normally come across. This is because a lot of the owners do not prefer advertising their properties or list them in local directories. The advocates use their connections to create an opportunity for you to access these properties and purchase them if everything goes well with both parties.

  • Save your valuable times
  • Buying a property is a stressful and time consuming task. You have to look into different directories and categorise the properties that suits your criteria, before shortlisting the ones that suits your needs. Hiring a buyer’s agent services in Castle hill will relieve you from these pressures and save you plenty of your valuable times. Since, they will be the ones taking up the roles on your behalf to list the ones that fit your criteria. They will find the right properties and approach you accordingly, while you stay free to focus on other chores.

  • Help you make profitable investments
  • Agents with expertise in property investments can help you locate the appropriate properties that has the potential to grow and turn into a profitable future prospect. They have the skills and experience to understand the market indicators and optimise the shortlisted properties based on their proficiency instead of focusing only on your requirements. Overall, you get highly benefitted in the long run.

  • Assists in bidding and negotiation
  • One of the most important aspects of hiring a buyer’s agent services across Castle hill to get the added leverage during bidding for or negotiating the price of a property that you are about to purchase. Bidding at an auction can be intimidating and emotionally daunting. Therefore, it is beneficial to have someone objective to represent your needs in those moments. They are accustomed to the tricks and can easily help you succeed without you having to go through all these stresses. As a matter of fact, it is believed that the agents can even help their clients net a purchase price that is below their budget, while saving them from emotional distress and time wastage.

    Are you a successful property investor? Have you invested in multi-properties? Want to improve your profit margin? Then this blog is just for you!

    You might have a multi-property portfolio and you successfully achieve and attain a steady profit margin. Yet the profit that you have made is based on a compound growth. If you analyse the progress assessing each of your property you would find some properties that are performing below per your expectations. How could this happen?

    For instance, you have owned 17 properties in 7 years, amassing a portfolio of more than $3 million which includes a list of townhouses, free standing houses and many more. However, you pay a certain amount of maintenance cost annually. If you assess all these 17 properties you may find that you are making profits from 10-12 of these properties while the remaining 5 properties are not contributing that greatly to your profit margin.

    What steps should you take to minimise these negative cash flow and improve the performance of the other 5 remaining properties?

    One of the most common options that may be taken includes reassessing the interest rates to add value to the properties, through renovation and development. However, this strategy can drain you financially.

    Below we offer simple solutions that will help you solve these issues without breaking a sweat.

    Re-evaluate the records

    Ask any property investing services in Castle hill and they will tell you that it is clever to run your portfolio like a business operation. Each property that you own requires strong financial and administrative decisions. Nevertheless, at the end of the day, all the assets that you own should complement each other while helping you achieve the final financial outcomes.

    In order to increase your profit you definitely need to add value to your property. However, before investing in a property you should take some time to analyse the overall position of the properties. Ask and review questions such as how much values can you add to your assets (taking into account the financial condition).

    You should go through each property to find the annual maintenance cost for each of this property. This will help you find the assets that are in need of the additional value. Find out how much each of the property contributes to the overall financial profit that you make. Some of them add more while some might add a bit less. If they are adding less what could be done to improve on it and why are you holding it. Reassessment will help you identify the ones that are offsetting the loss and strategies could be implemented to improve on it.

    Engage with experts and professionals

    It is wise to look for support from expert professionals and property investment services in Castle hill when you are planning to implement a complex property investment strategy. Property development and renovation might surely add value to your assets. However, there are plenty of factors that influence its profitability. For example the cost of renovation should complement the conditions and demand for housing in the marketplace.

    When you get your portfolio reviewed by an expert, it will help you better understand and analyse your current situation and you will be able to identify and create better opportunity for wealth creation and improve your risk management strategies.

    Rental properties garner a good amount of money but finding the right tenant and maintaining the value of your property over the course of time is not a walk in the park.

    To start with, you need to realise whether you are looking to save time to fill up your vacancies, and that’s when a property management company might make sense.

    Some landlords manage properties with the help of an employee but nowadays most of them look for a reputable property management company, who ensure that your investment is taken care of.

    Here are top 5 reasons you should seriously consider hiring a property management company:

    Improved Tenant Screening
    Landlords are flooded with hundreds of applications when there is an exponential rise in the rental market. A reputable property management company with pre-defined parameters of strict tenant screening can minimise your risks by properly examining credit scores, background checks.

    Seamless Rent Collection

    Collecting rent from the tenants can give you nightmares sometimes. Sometimes legal actions need to be enforced and this can be very frustrating and time consuming for the landlords. Vogue Real Estate’s Property Management Services In Castle Hill can help you to deal with difficult situations and make sure that the money is collected on time following professional standards.

    Correct Market Pricing

    Maintaining the price or value of your property over the course of time is not any easy task. You have keep up to date with relevant data and this can be very demanding and time consuming. Prices are always fluctuating and it is difficult to put an accurate price tag on your vacancies. The easiest solution is to hire a property management company, who can maximize your monthly income by determining the accurate price for your property in the current market.

    Proper Maintenance

    Any property irrespective of the age needs periodic maintenance work. Maintenance work adds up to your expenses and at times it is immensely stressful to do it all alone by yourself. This is when a property management company might make sense.

    Vogue Real Estate’s Property Management Services In Castle Hill is highly experienced at identifying maintenance problems before they escalate into expensive repairs.

    Property management companies work in tandem with several maintenance companies and can provide you exceptionally low service costs.

    Accounting Made Easy

    Property management accounting can be scary sometimes, especially when you own multiple properties and you are not from a business studies background. Income statements, balance sheets, general ledgers, delinquency reports and lease audits might sound alien to a lay man.

    This is why most landlords opt for property management services. They make use of various financial reporting software to make life easy for you.

    Figure 1 Is it a good idea to invest in rental real estate? Alt. Building.

    Investing in real estate consists of buying, owning, managing, renting or selling properties for profit. Real estate industry has grown drastically over the years, and so have the challenges. With so many options at hand, we must ask ourselves – is it a smart move to invest in rental real estate at this moment? There are many things that need to be taken into a consideration before making your first move, but we will try to help you create an opinion and make your first decision.

    If you are moving from Kuwait to Australia to start your new business, we advise you consider hiring international movers from Kuwait to help you with your relocation project. Making such a big change in your life can be stressful enough, and believe us – you can use all the help you can get.

    Real estate investments in 2018 look promising

    If you want to start investing, but you are not sure if you should pick stock or real estate as your new investment – we suggest you reconsider investing into a real estate market once again. Owning a property is almost always a safe investment. When you buy an apartment, house or any other kind of a property it is very unlikely that you will experience a major or total loss. Why is that? Well, this type of investment is secured by a physical asset. Also, people will always need a place to live, and it is not a surprise that many investors put their money on something that is always in a demand. Real estate is a long-term hold, and you won’t depend on market after making your first move. In the vast majority of cases, it is stable and it will retain its value over the period of time. But, let’s see why you should invest in rental real estate:

    • Your tenants will pay for your investment.
    • The value of your property will only increase over the years.
    • If you invest in rental real estate, there is almost no space for failure with so many options and opportunities.

    Let your tenant pay for your investment

    If you are interested in long-term real estate investments, you should be aware of some positive facts first. The number one reason to get in this business is to generate a passive income. This type of investment will not only build equity, but it will also produce positive cash flow. With every mortgage payment that comes from your tenant’s rent you will be paying for your investment with someone else’s money. So – why not? This is a win-win situation, and you should use it at your advantage. Also, if you are not a professional real estate investor, renting your property is the safest way to get your money back, even if you haven’t used a loan as a payment method.

    Figure 2    Soon after you invest in rental real estate you will realize more than one way to get your investment money back. Alt. Laptop, notebooks, cactus, coffee, glasses and phone. the value of your property can only grow

    We know that getting started in a new field is never easy, but believe us – becoming a real estate investor is simple and safe. There are so many financing options that you should explore and use as an advantage. Make a strategy, and be patient. Invest some money, and wait. It will pay off in the long run. Or, if we look at the past few years – not so long run.

    We all know that investing in this market requires a lot of money, but the situation here is much different then with the stock market. You don’t have to be a professional broker. Also, you won’t need all that luck. The only thing you should do is to try to make the smartest possible move, and hope for the best. But, either way rest assured – the value of your rental property will only grow.

    Leverage your capital

    Just like we have said previously, you should use many different financing options as a leverage. Unlike with other markets, when you invest in rental real estate you can buy a property with cash combined with a loan.  This is an aspect used by many investors who secure many mortgages and grow their business with only 20% down payments. This is a great option if you want to use conventional financing as an advantage – use your cash to purchase more properties and maximize your investing opportunities.

    Figure 3   Do your research before you make any moves. Alt. Image of a building.

    Summary

    As the time passes, more and more people are starting to invest in rental real estate market. It is a lower risk and it offers a much better returns rate. It is a common situation that an individual wants to invest in rental real estate, but doesn’t know where and how. That is the main reason why you should do your research, make a plan and think about it once more. You will need to figure out a way to get the best results. Or, you can even get some help with deciding from professional advisors. It is really your choice.

    What are the next steps after you invest in rental real estate?

    It might be a good idea to invest some more after just obtaining a property. This can be a huge factor when you start renting it. You don’t need to spend all of your money, but making small changes here and there can create a much better picture of the property itself. Also, its value can increase more than you think. And that is the main goal! It will assure better return rate and increase your income.

    Figure 4    Making small changes can increase the value of your property. Alt. Image of a kitchen.

    Pay attention to the details

    Small details can make a huge difference. Changing the layout of let’s say one whole kitchen can cost you a lot of money, but there are a few decorating tricks that you should use. Repainting the walls and installing a new air-conditioning system can make your property much better looking. Add some new furniture. Do your research, and try to find the best match. Make sure you don’t overstep your budget. Stay focused, and remember that the main goal after you invest in rental real estate is to earn as much money as possible – not to spend it all.

    The housing market in Australia is tough to break into and renting can provide an affordable solution. Finding a rental property or renting out your own investment will take time if you want to do it properly. Before you jump in with the first opportunity that seems right we asked the experts what to look out for when renting.

    FOR THE RENTERS
    A lot of issues that come up weeks or months into your lease could have been solved at the initial meeting if you knew the warning signs. Real estate agent and founder of Vogue Real Estate, Nicole Ciantar, has these tips for future renters:

    “It can be very stressful living in a rental property. There are lots of things to consider, for example; how long would I be able to live in this property? Will they increase the rent? Can I have a pet? And that is just to name a few!

    If you’re unsure of what you’re about to get yourself into consider these tips:
    – Do you have a rapport with the agent/landlord
    – Ask questions like “does the owner do repairs promptly?”
    – Do a thorough check of all appliances to ensure they are working
    – If the agent/landlord says they will be doing works at the property ensure it’s written into the lease
    – Ask “why did the last tenants move out? This is an indication of what you’re about to receive (if they tell the truth)

    Some general warning signs:
    – Is the property in a poor state of presentation
    – High tenant turnover; you should be able to find this out via google
    – If the agent/landlord isn’t engaged with your conversation then they don’t care which in turns means lack of communication and knowledge so your rental experience is going to be poor”
    Find out more on Facebook or get in touch on nicole@voguere.com.au.

    HOW TO MAKE YOUR RENTAL COMFORTABLE
    Renting a property is not typically a long-term plan. You’re thinking year by year, or even month by month. You’re also prepared to change your living conditions quickly. With this in mind you don’t want to set up an overly permanent home. But you also want it to feel like home while you’re living there. Here’s our advice for comfortable renting:

    Keep it to the bare necessities. Everything you own should be able to be packed up for storage or sold in the case that you or your landlord decide to change your living arrangements. To save money and time look for attractive furniture online. It’ll be delivered straight to your door which eliminates the need for trips to the furniture store or lugging it up the stairs by yourself.

    On that note, a bed base and headboard is going to be the best option for storage and comfort. Many people think they can get by without a sturdy headboard but this is not recommended. Leaning against your headboard in bed will be much more comfortable and prevent smudges, marks or sweat transferring to the walls. It can also add a layer of insulation for thin walls which may be a feature of newly built or renovated properties.

    You may have found a furnished rental which came with the mattress, bed and other necessities. This is great because it saves you the effort of buying expensive furnishings but the downside is you haven’t hand-selected your furniture. For example, the mattress may be too firm for your liking. You could always buy a new mattress that suits your needs. Another option is a soft mattress topper which will customise the fit and feel of your bed without requiring storage space for when you’re on the move.

    FOR THE OWNERS
    It’s not just the tenants who should be discerning when entering the rental market. Sydney Buyers Agent Dean Berman helps many Australians find investment properties which many decide to rent. Here’s his advice when choosing tenants:

    “Key points to look out for when renting property:
    – Do your best to ensure your tenants will treat the property with respect and will be able to pay the rent on time by screening them on areas such as job references and rental databases
    – Make sure you feel comfortable with the tenants during the inspection
    – Understand how many people will be living in the property
    – Ensure you make the ground rules clear such as no sublets if you don’t want an AirBnB situation occurring
    – Try to understand the tenants previous rental history
    – Take photos of the property before renting it out, so you can see what it looked like in its original condition

    The main warning signs:
    – If the tenants don’t have secure employment, then there could be potential issues, make sure you can see proof of funds or potentially organise for the rent to be paid in advance to reduce risk
    – A poor rental history or constant moving”
    Find out more on Facebook and Instagram.

    Don’t get caught out by a lack of knowledge. Whether you’re looking to rent or looking for tenants in your investment these are the warning signs and general tips to keep in mind.

    https://www.mydeal.com.au/blog/post/guide-to-renting-property

    Tax return season. Sure, it might be a little annoying to fill out all the paperwork, but once you see that money come right back into your account as a result it’s always worth it.

    Many people receive fairly sizeable returns, and when that’s the case, it’s hard not to want to go out and spend it on something luxurious. However, that’s probably not the best way to handle your money. Most financial planning advice encourages tax return recipients to save, save, save.

    While putting that money right into your savings account does seem like the most reasonable course of action, it’s understandable that it can be challening and boring, even. So here are some ideas for smart, regret-proof ways to spend your tax return.

    Pay off old debts

    You might think that buying that new flat screen television is going to feel more satisfying, but at the end of the day, having your debts paid off is going to feel much better. Pay off as much as you can, starting with the highest interest debts, as these are only going to cost more in the long run.

    Additionally, you should use this as an opportunity to reset your financial goals and ensure you stay on top of your debts moving forward. Ensure you’re making regular payments so you have a good credit report.

    Invest it

    The best way to improve the value of your money is to invest it. Do your research before you put your money into anything or see a financial planner.

    You can also invest in things like your home. Consider doing some home improvement projects or renovations that will increase the value of your home. Whether that be replacing old appliances with new, energy efficient ones, or redoing the bathroom.

    You want to be sure whatever project you’re doing increases the value of your home. For example, removing storage space to make a bigger room without replacing the storage can actually decrease the value as people are easily turned off from a home that doesn’t have a place to keep their possessions.

    Put it in an interest earning account

    While depositing money into a transactional savings account feels responsible (and not to say that it isn’t), it is better if that money is working for you. Instead put the money into an interest earning account.

    Of course, you can create your own savings account for whatever you want! Perhaps you want the money to go to a big trip or a new house or an emergency fund – whatever it is, give the account a special purpose and you’ll likely feel more accomplished as you put money in.

    Spend it on something you need

    First we should define the difference between ‘want’ and ‘need’. A want is something you desire, but can live without, like a new bag. A need, however, is something you can’t function without like a car repair or that dentist appointment you keep putting off. Investing your money into yourself is going to be one of the best things you can do with your money.

     

     

    Source:

    Bridges Financial

    Here are six basic principles that anyone can apply to achieve great results, even if you are starting with limited resources. Remember, without a property financial plan your good intentions may not amount to much.

    1. Put money towards your savings first

    Make sure that you regularly set aside some of your income before you’re tempted to spend it. Before long you’ll have enough to consider a range of investment options.

    1. Invest for growth

    Over the longer term, growth investments such as shares should give you a better overall return than cash-type investments, but are likely to be more volatile. Everyone’s attitude to risk is different so you need to choose investments that are suitable for you.

    1. Too good to be true

    Steer clear of investments with unrealistically high returns as most of the highly tax-driven investments that you may read about are often riskier than they appear.

    1. Invest tax effectively

    Remember that money invested in Australian shares or managed share funds can earn you imputation or franking credits. These reduce your income tax paid on any dividends or can potentially be received as a tax refund.

    1. Make the most of super

    Super is still the most tax-effective form of retirement saving for most people. If your employer allows it, you can implement a salary sacrifice strategy to make additional super contributions directly from your pre-tax salary. This means your super will be increased and, because of the concessional rate of tax that applies to super, you will pay less in tax.

    1. Spread your risk

    Don’t put all your eggs in one basket – maintain a balanced approach to investment. It is generally a good idea to spread your investments across a number of different asset classes such as shares and property, fixed interest and cash. Often if one asset class performs poorly, another may perform strongly. A diversified approach can keep your investments growing steadily.

    Financial advice makes a difference!

     

     

    Source:

    Bridges Financial Pty Ltd