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It’s important to do your own due diligence to ensure you’re working with a reputable property investment advisor:
Do They Have Your Best Interests At Heart?
You should be wary of a property investment manager who does not charge you any fees. Consider this: if you don’t pay them, who will? The consultant could be paid by developers or sales agents to sell you specific assets. This means you aren’t always their client, and the advice they send you isn’t always unbiased.
Credibility of the Company
A well-known real estate investment company will be able to brag about their various awards for experience and service offerings. Look for reputable prizes, such as state and national business and industry awards, as well as service-specific awards. Superior processes and procedures that set them apart from the competition are used to win company awards. They improve a company’s reputation in the industry by providing legitimacy and authority.
Providing a Personal Plan
Since everyone’s financial priorities are different, a one-size-fits-all approach to property investment rarely works. Advisors should help you develop a personal investment strategy that considers important factors like your borrowing ability and how much of a financial cushion you’ll need to mitigate risks.
Is the advisor able to provide you with a client list? Client referrals are an excellent way to build trust in an advisor’s abilities. Membership in a reputable business organization is also critical because it guarantees that practitioners follow a strict code of ethics.
How Do You Find Investment-Grade Properties?
A stock list of ready-to-buy properties available from a consultant is normally a red flag. An independent investment consultant can source property on the open market and explain their decisions using a validated analysis methodology. Inquire about the firm’s in-house analysis capabilities: do they keep track of the entire real estate market? How do they know which assets are likely to outperform the market? What macro and micro variables do they weigh when deciding where to invest?
Examples of Recent Purchases and Why You Bought Them
It’s a good idea to ask your property investment advisor for some recent completed purchase examples that not only show you what they purchased, but also why they bought it. It will provide you with useful insights into the process as well as show you whether the advisor considers the client’s needs and financial situation.
So here were some quick tips to be aware when you’re in conversation with your property investment advisor.
10 Properties in 10 Years have a team of experienced professionals who deal and specialize in a variety of property portfolio, including newly renovated homes listings. Please get it touch with us and save the hassle to managing property portfolios all by yourself at [email protected] or 1300 617 677.