Peter Ambrose worked with us as our buyer agent and after 2-3 months, we had a property under contract that was exactly what we were looking for!
After over a year spent looking for our first property, and being unsuccessful time and time again, we decided to take a different approach and engaged Peter to assist us with our search.
Our brief was quite difficult given we wanted something that would be suitable to live in now and would rent well enough that when we go overseas next year, we would be able to command enough yield to at least breakeven after including rates, insurance, property management and maintenance costs.
Peter got right to work spending time getting very specific on our requirements and was able to present us with a number of different property currently on the market. Through this period we learnt a lot from Peter through his experience as a property investor and coach given our objectives meant we needed to view the properties with an “investment lens” rather simply buying the first place that caught our eye.
We looked at quite a few over a period of 2-3 months and after missing out on some at Auction and Tender, we began to feel like we were never going to buy a property. However, Peter keep his finger on the pulse and soon after he came to us with what turned out to be the property that ticketed all the boxes!
Through one his contacts, Peter received a call to say that a city fringe Home and Income property hadn't sold at tender and that he should act quickly before it got advertised with BEO. Peter contacted us and we viewed the property that day. Within 3 days we had the property under contract!
We had managed to negotiate a 5 day due diligence clause in the contract, so we spent the week organising our builder and property manager to go through so we could set a budget for the work we wanted to do and also getting rental appraisals. Peter was with us every step of the way and contactable at all ours of the day to provide us with insight and advice on every aspect on the property. At the end of the 5 working days evaluating all the numbers, we were happy to proceed and so we went unconditional – our patience had paid off in the end and we ended up with a great property.
Peter was instrumental in the buying process. If we hadn’t engaged him to help us, we would have never known about this property or the circumstances around it, and therefore would have been unable to act so quickly with limited buyer competition at the time. And it was lucky we did, we learnt on the last day of our DD that there was a back up offer in waiting!
We learned a great deal from Peter, not only around the property buying process and the Wellington market in general, but also through his experience as a property investor and coach. We would highly recommend Peter to any person who is interested in finding an investment property in Wellington.