Those looking to get into property investing but don’t have the time or the experience or the patience to crutch the numbers that pull it off, would be considered as “lazy”. Many seasoned investors and high income individuals may have less time on their hands to deal with the on-goings of the property market. Luckily, property investment consultants exists to make up for this supposed ‘laziness’.
Consultants bring experience and knowledge to the table. They take care of the nitty-gritty details and complexities of deal making, before we can schmooze our way into any property deal.
Before we get into the benefits of working with one, here’s a simple test to see if you are working with a true consultant that’s working on your behalf, or a property marketer disguised as one.
If you want to know whether a property consultant is really working for you…look into how they make their money. If they are making their commissions from the seller or developer, then I would strongly suggest they won’t have your best interest at heart.
If you are paying them a fee to work for you…then you know they truly have your interest at heart and will make sure you get unbiased, professional information. This is because they will pull all stops to make sure you get good properties and become a long term client.
What are the benefits of working with one?
They offer objective property investment advice
Forget barber room banter, or the insight from your family members or friends. None of these people are as knowledgeable as a property investment consultant about matters regarding real estate. Consultants are specialized in their field of work.
Real property consultants know the market and the localities and should be unbiased in their view because they’re not selling you anything, unlike property agents. They’re thus in a position to provide you with objective advice.
In addition, a consultant can help you find the right property at the right price. When you’re selling, they know what you should sell for to capitalize on your investment.
They work for you, solely
You are the boss, and your requests are the command of the property investment consultant under your hire. Your satisfaction is their main aim and their goals should line with yours. This way they make sure that you do not enter into an investment decision blindly by answering you queries as they arise.
They lessen the amount of time and energy spent on doing property research and running around by yourself. The ideal property investment consultant does most of the leg work for you.
In addition, a good property consultant should come up with a good investment strategy and actionable plan that helps you achieve your wealth goals.
Access to their experience and knowledge
Every location differs. Every neighbourhood and local market has its own characteristics, known only to someone that takes the time to study up on it and do a comprehensive research. And that’s usually a property investment consultant.
When you work with one, you get to have access to what they’ve gathered about an area through study and experience. They know all the dos and don’ts of the buying/selling process in your area of interest, and significantly hasten an otherwise long process were you to work on your own. If you aren’t a local or experienced in real estate deals, you really need their services.
They are also familiar with the tactics that real estate agents use to seduce unwitting property buyers into a poor deal.
Consultants bring experience and knowledge to the table. They take care of the nitty-gritty details and complexities of deal making, before we can schmooze our way into any property deal.
Access to various specialities
Property investment consultants are usually part of a larger organisation that includes specialties in certain relevant fields, such as legal, market research, data analysis, and property valuation.
Depending on what you want at a particular moment, they can easily assign you a specialist you need to address your concern, which is way better than trudging through various offices for someone that can help you.
Access to detailed reports
Are you interested in improving your yield but don’t know how? Property investment consultants can provide you detailed reports on the different strategies that you can adopt and their profit-worthiness.
They can advise you on bulk buying, selling opportunities, renovate to flip or hold, equity partnerships, joint ventures, off the plan purchases or capital growth, all of which can make your investment decisions much more solid. Also the reports give you a clear picture of where the consultant is coming from with his advice.
Handle Paperwork on your behalf
In the business of real estate, there’s a lot of paperwork to keep track of during transactions. It can be a real pain if you miss out any before finalizing a deal.
A property investment consultant performs the management role for all your paperwork quite well. The consultant is also in position to chase and obtain the required paperwork for you. All you are left to do is sign them.
Iron out the Legal and Taxation Issues
Laws and taxes are non-discriminatory and every area has its own set of them. Property investment runs on a few of them to ensure that the industry is regulated and impartial. Whenever you’re buying a property or selling one, there are legal and tax issues to consider.
A competent property investment consultant will guide you through the process complying with all of them. Without proper guidance you could end up paying to much tax or not maximising the returns from your property.
An experienced consultant is handy and invaluable in property investing, especially for ‘lazy’ investors. They’ll be your go-to person, and will help you avoid unseen bombs along the way, and will guide to the prosperity you so desire.
A final note…
Be wary of ‘consultants’ who just want to sell you deals without considering your personal financial situation. A good consultant will not only take into consideration your finances, but also conduct proper risk/reward analysis on your deals.
Most importantly, they will help you plan your investment strategy for the long term to ensure you get the best returns without undergoing undue personal and financial stress.