在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo
So lately I've been thinking alot about my career and starting to realise I would like to begin preparing to move from my current job into a career in property.
So... which is the best career to pursue in property?
Valuer, Mortgage Broker, Developer (high risk), Sales, Property Management?
Sales is an obvious career path for many although this doesn't interest me.
Any professionals in the industry willing to provide some insight into the benefits and disadvantages of their roles? Are there any roles which aren't commonly discussed but worth considering?
Of course, well paid is always a bonus!
Hey, what about Buyer's Agent?
jimmyjj said: ↑
SI understand this view...............unless u want to be a valuer or maybe a prop manager you will find it tough in any service related field...........coz its all "sales".
Sales is an obvious career path for many although this doesn't interest me.Click to expand...
I wouldn't recommend mortgage broking to anyone at the moment. We are going through regulation, we have an association which represents themselves and their own existence. We have had commission cuts and must be the only stupid industry that sells its direct competitors product. So until the dust settles I would wait on being a mortgage broker.
My thoughts would be to get licensed as a financial planner and specialize in offering non biased property investment advice and manage the clients ongoing property investment portfolio. That way you can charge whatever upfront fee you like and run a successful practice. Very few financial planners tied to dealerships offer property advice and there are plenty of accountants that cannot be bothered or are moving to traditional financial planning.
There that will raise a few eyebrows for a Monday morning !
Brett makes some interesting points regarding mortgage broking. Why not wait till the dust settles in that area, by the end of the year the future of the industry 'should be' clearly defined.
In the meantime I have just completed the PIAA ( Property Investors Assoc of Aust) Property Advisers course which allows me to model and analyse property investors portfolios and look at scenarios and options and with a few more qualifications (which I am not persuing) actually recommend actual properties for them to purchase. As a mortgage broker I can't do this, after completing half of the financial planning accreditation I realised that would not help me help my clients either. The course is excellent and really enjoyable - but once again without clients and hence sales skills then there is a major issue you need to work through.
If you dont want to have to be on the selling front but rather have an organisation tell you where to go and do your job a valuer might be the best fit with a large organisation. However be aware to the fact that you are trading one job for another.
Hope this helps
Buzz...... I've just sent my membership off to the PIAA. Would you like to give more details on the coarse? How did you find its and will it be beneficial to your clients? Was it good value for the $2500?
Its all sales.
I suggest doing some reading, attending some seminars to work on your mind set before proceeding any further in the change of career/ or property investment.
By the way, its not just property, everything is sales. Being a landlord is sales, to the tenant, being a public servant is sales to the government/community.
Or you could alway become a paralegal and work with a firm that deals in property law.
Brett I really enjoyed the course and the opportunity to meet likeminded people interested in the client experience and end result rather than making the sale. I reviewed the PIAA and the PIPA courses ( of which was based on the PIAA course from what I can work out) although these 2 groups do not seem to be in opposition, one represents investors and the other PIPA property advisers.
Although it seems you can't open a magazine and not see one adviser or another saying unless you have an accredited PIPA adviser you should not do their course/ buy their book/ believe their words. I on the otherhand looked at the content of the courses and wanted something that I felt would allow me to deliver the best result for my clients. As I conduct Property Investing Education courses that other MB's and professionals can send their clients to (without feel of upsell), through www.stepbysteppropertysuccess.com.au nationally I wanted something that resonated with what I was trying to achieve - so I went against the flavour of the month and spent the same $ and did the PIAA course.
My final decision came down to their modelling tool - the Somersoft software gets you only so far. Being able to look at what the effect of when you sell properties on your cashflow and capital gains tax and exit strategy was something that really won me over. And to be truthful as much for my own portfolio as for any other reason.
I hope this helps you make your mind up. Happy to discuss offline.