Purchasing property without a buyer’s agent, with PK Gupta – Ep. 62
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For the latest episode of this bonus series of the property investing journey, Mike is joined by Property Specialist and Managing Director of Consulting with PK, PK Gupta, to talk about the merits of buying property without engaging a Buyer’s Agent, and how with a bit of time and effort, you can optimise your property portfolio.
After a ten year corporate career, PK changed focus to his passion for property. Having built a six-figure passive income through investing in residential property and residential and commercial development projects, PK helps his clients learn to invest in property using a data-led approach, rather than going through buyer’s agents.
In this conversation, PK explains his point of view, and why he believes that anyone is capable of learning to invest in property, providing they have the desire and the willingness to invest time in their own education. PK uses analogies to describe the different types of investors, showing how some investors are better off with an agent, and why some might want to learn the tools themselves.
Mike and PK talk through the process that the typical investor might need to follow, such as developing a strategy, determining suburb selection, negotiating with agents, buying interstate and finding the right team. This compelling conversation includes highly practical advice, as well as references to free online tools, that will help you on your path as you build your portfolio.
Whether you’re ready to learn to do it all yourself, or are just interested in understanding the process a bit more, this is a podcast you won’t want to miss.
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Podcast Transcript
Mike is joined by Property Specialist and Managing Director of Consulting with PK, PK Gupta, to talk about the merits of buying property without engaging a Buyer’s Agent, and how with a bit of time and effort, you can optimise your property portfolio. PK helps his clients learn to invest in property using a data-led approach, rather than going through buyer’s agents.
What we cover in this episode
- How to work out your property investing strategy
- The data for both the demand and supply side
- The importance of suburb selection
- How to buy interstate
- Developing your own competitive advantage
- Finding off market deals
- PK’s top tips for buying without a Buyer’s Agent
Quotes
“Strategy really means just buy and hold property, investing, at least how many properties do I need over a certain time period, what will my borrowing capacity allow in terms of frequency of those purchases, what’s the realistic timing, yield, purchase price of those purchases” PK 4:05
“I’d forgive you maybe ten years ago for saying I have no idea (where to buy) but in this day and age there’s so much data out there and it’s actually not so difficult to figure out where to buy” PK 5:11
“Most buyers agents, at least national buyers agents, do the same thing so they will also have local property managers that do their inspections for their clients on the buyers agent’s behalf” PK 6:48
“It’s very important to speak to that mortgage broker, and then validate whatever they’re saying with your accountant, is this possible for me based on my gross, my net income, what structures should I buy this in” PK 11:36
“You don’t need to do my course to find a good team yourself, you can just go on any Facebook group or property chat forum or anything and you can build a great team yourself, that doesn’t have these internal kickbacks and commission fees structures” PK 16:25
“This is your financial future, you do have to invest in the six inches between your two ears ’cause no one really cares about your money as much as you do” PK 19:27
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The Geared for Growth property investing podcast was created by Mike out of a desire to provide value to his property investor clients. The idea is to source Australia's leading property investment experts and find how they and their clients are achieving exceptional results. The podcast is open to anybody interested in learning how to invest and the strategies you can apply to achieve exceptional results. You'll hear from buyers agents, mortgage brokers, strata managers, accountants and other professionals all sharing their insider knowledge.
