“We have bought 3 properties through Chris over a 13 year period. Focussing on the investment properties, most critically Chris was able to help us focus on this as a pure business decision with no emotion and remove a tremendous amount of stress from the process. This is critical, because what we may or may not want to live in bears little relationship to what a good quality investment property looks like. Chris helped us devise a strategy around appropriate suburbs and then once agreed he was able to identify suitable properties and discard dozens of unsuitable properties, meaning we only had to view a few properties and not waste valuable time on a Saturday running from one unsuitable property to another. When buying out of area one needs local expertise and understanding to know which are poor locations – looking at a map rarely helps and even attending the site does not help without additional information. Chris was able to provide all the required associated information – not just simplistic comparable information, but detailed comparables with positives and negatives (including information about busy streets, contamination, noise risks, local amenities, aspect, airflow, light) across a range of properties in the area.
We ultimately only had to view 4 properties and consider perhaps 4 more on paper to find 2 investment properties both of which have left us completely comfortable that we have found quality properties in quality locations. In the case of both properties, this was borne out by being able to rent each of them at the very first showing despite there being many similar sized (but inferior) properties in the areas available for rent. In the case of the one property, which needed some renovation and was found off market, Chris’ due diligence (through his appointed advisors) into the work required has proven accurate and estimated costings for the work have proven accurate. What is more, Chris’ valuations on the properties proved remarkably accurate – on one which went to auction he was within 0.3%, on one which we decided not to bid on he was within 4%, such that on the one we bought on private treaty we are very comfortable that his estimate was accurate.
Chris was crucial in both closing processes. On the auction he kept his cool through dozens of bids against a determined opponent – we were very pleased we were not in the room and could not show any emotion. On the private treaty Chris managed a tough negotiation through a full Saturday with the counterparty re-trading on agreed positions on several occasions, ultimately closing late into the night.”
Graeme
