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"Thank you for your kind advice which has indeed been very useful Michael...It's a treat to be talking to a pro who is neutral (vis a vis an agent or even the lawyer) and also in the know of everything, feel very lucky indeed"
"Thank you for the time you gave me. I found your knowledge of the property scene and the firsthand information you gave, very useful... You are a cut above other agents"
"Thank you very much for your detailed reply. You have given us a lot to think about. In fact many things that we hadn't even considered!"
"Many thanks for the huge advice and assistance you gave us. Your tireless and good natured coordination of the whole process and its many aspects have been and continue to be invaluable, including putting us in touch with the relevant experts in the necessary fields and the friendly tips you are always ready and willing to offer".
PK Wong is an Australian who lives in Hong Kong. He contacted a large Australian real estate company in HK, that advertises extensively on You Tube, Facebook and on TV.
He was considering purchasing an apartment "off-the-plan" in Sydeny, which is where he was from, although he has been working in HK for the past 15 years.
The apartment had to be large enough for his wife and young child should they decide to relocate back to Sydney, but in the meantime he wanted to rent it out and protect his capital.
The real estate company offered him a selection of over 10 developments to choose from. Being from Sydney himself, he knew MOST of the locations quite well, and PK and his wife were able to narrow it down to a choice of three possible developments.
In the meantime, the young agent was pushing them for a decision, warning that they would "miss out' if they delayed.
They scheduled a 30 minute free consultation with Mike on Saturday morning.
After the call, they signed up for the advisory service.
By Saturday afternoon, Michael was able to rule out one of the developments.
The following week, Michael analysed and researched the remaining two projects in great detail.
He gave PK and his wife information the agent was not able (or willing) to provide, such as rental vacancy rates, rental assessment, tax considerations, building report information, depreciation information, cash flows, developer reputation and quality, history of resale prices, supply coming up, flood risks, valuation risks, estimated real price of the property, and much much more.
He looked into the locations, the "walk score", the "transit score", stock on market, a suburb report, a risk analysis report, and then looked at each potential apartment design, fittings, quality, outlook and view, body corporate restrictions, floor plan desirability, and again, much more.
By week two PK had decided on which project was best for him and his young family.
Then after he selected his preferred floor plan, Mike negotiated with the agent a special offer on what the agent had told PK was "non-negotiable" price and terms.
Mike introduced an experienced (and affordable) property lawyer to look through and advise on the contract,
A building inspector to ensure the quality and that defects were fixed. An accoubtnant to ensure tax was minimised.
And an excellent property manager. And depreciation expert.
