The owner of @ Real Estate Yeppoon, Natalie and Troy Gesler are keen property investors and renovators that have personal bought and sold 20 properties. Below they share their thoughts on engaging trusted professionals and getting the right advice.
Be careful who you take advise from, personally we prefer to listen to people who we believe are successful and we can learn from, for example; a guy came onto the site recently to a house we were building and said “I would take out that wall and open the kitchen up ….” He went on lecturing us about how his parents’ home was similar and it was not practical for them. It wouldn’t have mattered what the design was he would have had an opinion.
Well we didn’t listen to him, because not only has he never bought or sold a house and generally doesn’t know anything about design, style, family living, marketing or selling a home, he also didn’t know that we have actually build a house with a very similar plan before and it worked very well. In addition, we have consulted other Real Estate Agents, as well as a property valuer about the design of the home. Then later are the people’s opinions we value regarding this matter. We believe we need to be careful who we listen to with everything in life.
Summarily, consider if the person giving the advice actually has your best interest at heart or if they have something to gain, such as selling you a specific product. We find it helpful to get several ideas and options, then do our own research and make up our own mind armed with as much information as possible.
Negative or even jealous people will always find a reason not to do something, where as positive people of action are the ones that make it happen.
“Teamwork makes the dream work.”
- Rick Ross
If you are going to be a successful property investor or renovator, you need a team to support you.
It is extremely important you have a team of reliable professionals on your side. These are your VIP’s, Very Important Professionals. It is crucial you communicate your intentions clearly with your VIP’s. The best VIP’s; genuinely want to help you achieve your goals, are easy to work with and bright. A good VIP should be like a good parent, guide you out of trouble, celebrate the good times with you, look after you in the bad times and always be there (try to make these lifelong relationships).
Firstly, you will need an amazing accountant. Everybody needs an amazing accountant, even if you are working for wages, a good accountant is worth their weight in gold, and then some. If you intend to buy property to sell or rent, you need to consult your accountant first. You do not want to be paying extra taxes that could have been avoided. Often a quick chat, can save enormous amounts of drama and money down the track.
Secondly, but equally as important you will need a sassy solicitor. It is also important to consult your solicitor before signing a contract. A good solicitor will help guide you through the purchasing and selling process, assist with diligence and much more.
Then you will need an experienced Lending Manager or Mortgage Broker. They will be able to suggest finance options to make your dreams reality and potentially save you money.
You will also need a skilful sales specialist. A Real Estate Agent that understands what you are looking for, and will stop at nothing to find the right property for you. They should have amazing local knowledge and want to work with you to ensure you add the most value possible to your property, to suite your local market or gain the highest return possible. As well as successfully market and negotiate the highest possible price and settlement of your project.
We also find it beneficial to use the same trades and suppliers where possible, as they will normally give you a discount and priorities your work if you are a regular customer.
How to tell if your VIP is an expert in their field and if they will help you achieve your dreams;
- The biggest clue will be the quality and quantity of questions they ask.
- Are they professional?
- Do they have other clients that do similar things?
- Do they have any personal experience with property, renovating or development?
- Do they include you in the process?
- How quickly do they return your calls and emails?
- The quality of information they provide?
Communication is the key to any good relationship.
Make sure you always input all VIP’s, trades, contractors and suppliers, contact details into your mobile phone and include; contact name, company, office / mobile phone numbers, email address, office and postal addresses in your phone, and ABN as you may need this for your BAS / tax returns. To ensure you always have them handy.
Also ensure all appointment and important dates are recorded in a diary. We sync the calendars on our phones so we always know what each other are up to and if we are both available for appointments and meeting.
The team @ Real Estate Yeppoon are always happy to chat and answer your property questions.