Dax Stanley walks through a five-step process for building an investment property portfolio: get pre-approved by a mortgage broker, hire a buyer's agent to find deals below market, renovate with a builder, rent it out with a property manager, then refinance to extract equity and repeat.
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Are you a bit lost or confused on how to find the next investment property? A lot of clients come to us and they're really in a space that they don't know how much they can borrow, they don't know what they should be buying, they don't know what sort of returns they're going to be getting. And it's really key to get that in place so that you know what the next best step is. Hi, I'm Dax Stanley. I help people create self funded retirement so they can live off it for the rest of their lives and hand it off to their kids. Now the biggest concern is what are the steps to get there. And so I want to talk to you today about that. And a lot of our clients really think it's going to take ages to find the next property or how much they can borrow. And it's really key to find that out first. So the first thing we want to do is we want to get to a mortgage broker. One of our team or your mortgage broker will step you through that, see how much equity you got in your home, where that's at, how much can we pull out, what's the interest rates and what's the repayments. Once we've got that in place, then my buyer's agents team steps in and you've got a good buyer's agent or buyer's advocate. They'll really take that information, craft the property brief so you know exactly what you're buying, what the returns you're going to get, see how it fits into your lifestyle, self funded retirement strategy. And then once you've got that in place, the buyer's agents will go and hunt for you, negotiate for you really well, usually below market rate so that you're really getting a good equity uplift straight away. Now once we've got that, we've got it negotiated, we'll hand it off to the builder and we'll start working with the builder or the agent to really get that completed or renovated, to increase equity. And we'll find a tenant to get in there. That's where the property manager will step in and find the ideal tenant for you so you can get that tenant to be paying off your mortgage interest rates, all the rates, and really get you started so that once we've got the tenant in place, then the mortgage broker steps back in, we get it revalued, we take the equity that you've created in that and we go again. And this is part of our unique selling buying model in terms of really making sure that this fits within your model of self funded retirement. Now, if that resonates with you, I'd love to have a chat with you. Our team is standing by, ready to help you. Using our unique leverage machine to get you going. Talk to you soon.
