I guess like a lot of people in their 30s, I realised the need to build some investments for my future. I had some equity in one property already and some personal savings. I wanted to use these resources to invest in residential property. But unlike many others, I was hoping to build a positively geared property portfolio – one that would grow my cash reserves, possibly even provide me with an income to live on in the near future.
I started looking around at properties in regional NSW where values are more affordable and rental yields can be very high. I was mainly looking at properties requiring loans below $100,000 - places that could see a big improvement in value from a small amount of work. While the numbers stacked up for me, lenders didn't seem at all interested.
I knew that as a property investor I would be working in a ‘people business' – after all it is the tenants who pay the rent. After receiving average service from the big lenders, my girlfriend suggested using a mortgage broker. At first I wasn't sure but the idea started to make sense, after all brokers are in a people business too. It didn't take long to be convinced when I saw the effort my Mortgage Choice broker put in.
My broker was great – he worked with me to develop a strategy where we could approach lenders. He negotiated strongly on my behalf, getting on the phone and talking to the people who made the decisions – even pitting one lender against another to secure my business. What a turnaround!
It felt great to have someone on my side, who shared the same belief in my investment strategy. My Mortgage Choice broker was unbelievably good at communicating everything to me, and within five months I had gone from zero investments to a diverse portfolio of five properties. That has since grown to seven properties.
My Mortgage Choice broker really went above and beyond to help me. It was just a great feeling of elation when we succeeded purchasing each property. It really felt like we were part of a team and I'm sure my broker was as excited as me each time a lender's valuation report came back looking good.
Now I'm much more confident in my ability to invest. I feel like I can focus on finding the right property because I can send a message to my broker from any property I'm looking at and rely on him to check out the numbers and start the ball rolling with finance.
I have received fantastic service from Mortgage Choice, and if you ask me whether I'm happy with the way everything has turned out, I'd say ‘absolutely'. I'm already recommending my Mortgage Choice broker to my friends and family – everyone deserves to enjoy the happiness that this level of service brings.
B Sharp, Caringbah, NSW