Your Property Inspection

Have you found your potential first property? Good for you! When you visit the property, be sure to use our checklist, and pay special attention to the following:

Make note of the time of your visit, the age of the property, and its address. The age and location are especially important as these will help you research the local market.

Look for anything that stands out, good or bad. Does the property have an interesting design feature? How is the curb appeal, does it look good as you drive up the street? 

Closely examine every room and make a note of the key features, and things that might need fixing. You might even try to put a cost on each of these improvements.

Ask yourself are there fixtures or fittings that add to the appeal? 

Is there any work that you’d need to do to make the property more attractive? 

Check out the neighbourhood. Spend a little time driving around to make sure all of the roads are in good shape. 

Examine the nearby properties and record how long it takes to reach local schools and transportation links.

Finally, book a professional building inspection. Don’t rely on your inspection alone. There may be structural issues that you can’t see.

There are so many things to know – but you are not Robinson Crusoe there are many who have been through this before and there is a step by step way to make sure you don’t miss things you should be aware of.

If you would like to learn more about the step by step process visit our Facebook Group where we teach each of the steps to get you to Your Property Success. https://www.facebook.com/groups/firsthomefirstinvestment/

Episode 3 of The First Home Buyers Show – Negotiation

Negotiation is the key to success in buying a property at market value or below.

Understanding what you’re up against is half the battle. Real Estate agents are out there every single day negotiating and they are Masters of Human Psychology.

Episode 3 of The First Home Buyers Show – Negotiation

They know exactly what to say and when to say it. So don’t think that they’re giving you a little bit of information on the inside, because an actual fact is part of a very strategic sales mechanism that they have been taught, year in and year out, and probably practiced every single week through case studies and live in the market.

Scott Aggett from Hello Haus is a master negotiator an ex-real estate agent who’s decided to leave the dark side and come over and help people negotiate. He sheds some incredible tips and tricks about what the differences are between the auction process and the private treaty process.

What agents will say to you and I have heard some of the statements that he’s made today I now cringe because I heard them and believed them. Why the agents are saying them and what they actually mean. At the end of the day, you want to be the one that’s in charge of the entire situation. And the situation is you negotiating to a market value or below.

The agent is out there to negotiate on the vendors behalf. Not on your behalf. So, know that, understand the importance in knowing the numbers, understanding the importance of doing your own research and understanding the importance of not giving up and just paying what is being asked.

Understand that price guides are just guides, but you should probably forget them. Do your own comparable sales and work out what you think the property is worth. Understand that although you might want to put in an offer at prior to auction, that could just be used as ammunition for the agent to go back to the vendor and say, “Here I am a clever person If you put in an offer , then if it’s in the lower part of the price guide.” And Scott said, that could actually be something the agent doesn’t want to see.

They may not be encouraging you to do that because they then need to change the price guide if it’s a little bit higher to what they may have been suggesting to the market. There’s so many things going into play there the agents getting a full-blown market campaign for their company and for their brand, and so they very much go and encourage people going to auction.

They want to have people there on the day. I want you to go back, if you’re listening to the full episode, go back and check out what agents say, the day before auction, to get you to auction. You are going to hear this time and time again. And Scott’s insights were absolutely priceless. So head over to The First House Buyer Facebook group https://www.facebook.com/groups/firsthomefirstinvestment/

Scott’s going to be in there to answer your questions. He’s one of our supporters and admin to assist you in your negotiation questions. If you want to talk to him about engaged in Hello Haus, I’d suggest you really take him up on that offer because I’ve tested him with my best friend and some of our mentoring students and he’s done an incredible job negotiating on their behalf.

So this is what you need to remember:

1. You want to be in control
2. Research is known to give you that information about comparable sales
3. And then you get a need to know what you’re up against

Real estate agents are master negotiators. And if this is your first negotiation, you’ll probably want to have an expert on your side. As always, here guys are to Your Property Success, you’ll catch us every Wednesday If you’d like to type REMIND on the Facebook FHB Show episode, we’ll send you a copy of The Guide to FHB Grants.

https://www.investorschoice.com.au/FHBSEp4

We go live again at 12:30, eastern standard daylight savings time, every single Wednesday. And if you’d like to be a guest and have my one on one assistance in helping you through your struggles where you are, I’d love to have you as a guest on the show.

Click here to see all the episodes > First Home Buyer Show Playlist

Are you a first time home buyer?  

Many first-time buyers see something that looks perfect and rush into the purchase without proper inspections.

The gorgeous house in the quiet suburb of Buderim seemed absolutely perfect from the outside.

It attracted more than a few admiring potential buyers. But the house eventually got sold to a family with two children. 

They hoped to renovate and turn it into the home they’d always dreamed about.

Unfortunately, the property had a problem.

It was absolutely infested with termites. 

The problem was so extensive that no insurance company would insure it.

Worse yet, the couple hadn’t skipped anything during the buying process. 

They’d paid for both building and pest inspections, so they thought that everything was okay.

Now, they’re left with a property that they can’t insure and thousands of lost dollars. While they’ve put it on the market, their real estate agent has it listed at land value only.

Make sure you don’t make this mistake when you’re sourcing your property. Research any inspector that you consider working with to ensure they have a great track record.

And if you’re not completely certain, consider having a second inspection carried out.

9 weeks to go – are you set to be one of the few ready to go to get the Government FHB Guarantee?

Only 9 weeks till the Governments First Home Loan Deposit Scheme is open for applications – and predictions are it will fill within 6 weeks.

So it is time to get working!! Join us Wednesday 12.30AEDST

https://www.facebook.com/learnwithjaneslacksmith/videos/2801951253183362/

Go to the Facebook page and type REMIND below this video to watch the replay and be reminded when we are live next time!

You have to get yourself setup for this amazing opportunity – even if they do it again next financial year the market would have moved up and you will be buying higher than you can now.

It is time – get ready follow our Financial Freedom Framework to get you set for success.

Join our First House Buyers Group First House Buyer so you can get expert help as well. https://www.facebook.com/groups/firsthomefirstinvestment/

Mortgage Issues for Self-Employed People

Have you considered being your own boss? 

There are many reasons why people take the leap and become self-employed.

You take full control of your career and get to escape the humdrum of the 9-to-5. It sounds like an amazing opportunity, right?

And if you get it right, you may earn more on your own than you’d earn with a regular job in your industry.

Unfortunately, your self-employment may cause you to struggle when you’re trying to get a loan for your first home.

Recently, clients of mine decided to become business owners, and managed to turn a small profit.  

Still, those first six months showed much potential. They chose to stick with it – a decision that paid off in their first full year of business.

They increased their profits by 142% in 12 months. Now financially stable, and with 18 months of experience under their belts, they felt confident about going to a lender.

They wanted to get a home loan so they could start to grow a portfolio.

But their lender rejected them.

They’d been self-employed for less than two years. Worse, the lender would not accept their figures for their most profitable year alone. 

Instead, they wanted an average between that year and the first six months of the business.

Investors Choice Mortgages knows the ins and outs of lending policies and which ones will suit you. We can help you set your lending up correctly to not only work for you now but for your long term plans. Getting this wrong could set you back years. Make a time to discuss your options with our dedicated team today, just book a time here for your complimentary call https://calendly.com/icm-discovery-call/fhb