As you all know, I’m all about building a community of experts so I’m delighted to welcome Michael Kimbel to our group and introduce him to you.
Michael has long been interested in property, buying his first property as an investment property – an early ‘rentvestor’.
“At the time, I was living at home with my parents so I didn’t need to buy somewhere to live. Buying property as an investment seemed like the smart thing to do.
“I had always seen the potential to obtain wealth through property as opposed to superannuation, for example, where you don’t have that control.”
He has since acquired several properties across Australia, so he understands a buyer’s pain points, and how to choose the right property at the right price.
Michael’s career has been focused primarily on property finance and helping his clients generate wealth. And with his skills as a property adviser, mortgage broker and real estate sales agent, he was ideally placed to transition to becoming a buyer’s agent. For the past few years, he has operated his own business, helping investors secure investment properties.
So why did he choose to become a buyer’s agent? And why Property Mavens?
To understand his decision, we need to look at Michael’s philosophy and how he helps his clients.
“We need to understand what our investors or homebuyers need to achieve. What do they want from that property? A home? A transition home? A means to wealth creation? Do they understand how they will service their mortgage? What about maintenance and renovations…is there a budget? What kind of yield and capital growth are they seeking? How can we structure their finances so they have a safety net such as they’d have needed during Covid-19?”
And in order to have the freedom to understand clients in that depth, you need to have all the systems and processes in place.
Comments Michael, “I could see a great opportunity to use a proven and well-established business formula that provides my clients with a favourable solution to their property-buying requirements. Joining Property Mavens meant I didn’t have to start another business from scratch. All the costly systems and processes are there. They’ve been developed by an award-winning and recognised industry leader, so I know they work.
“Last but not least, my philosophy on genuinely helping clients aligns with the Property Mavens brand. We’re all about providing a fair, honest and trustworthy service to clients looking for professional independent expertise. The focus is a favourable client outcome. This role isn’t about how much commission you can charge. Property Mavens ticked all the boxes for me.”
Michael is qualified as a licensed mortgage broker, and a licensed real estate agent. Leaving his corporate 9-5 job in 2004, he launched his mortgage-broking service, mainly helping investors to grow and diversify their property portfolio.
“Mortgage broking is a bit like John West; it’s what you reject that makes the difference in the end. You need to know how bankers think and understand the types of products they sell so you can recommend the right product to your client, one that will serve them well now and into the future. The key is being able to structure that mortgage product so clients can build their portfolios without mortgage stress.
From mortgage broking, Michael chose to transition into real estate sales so he could view the property investment journey from the other side. As a real estate sales agent, he learned the strategies of real estate agents, and the negotiations that happen during a sale process. Importantly, being able to think like a vendor means he’s better equipped to help his clients to sell a property to release equity before they make any future purchases.
After honing his real estate sales skills, he joined a national company as a property wealth coach.
Notes Michael, “That was 100% focused on the investor, helping them to create a property investment plan and build a portfolio. So I was educating clients as to what properties suited their requirements, and then sourcing and securing for the client that particular property.”
For the last four years, Michael has operated his own business as a property wealth coach.
“Education is certainly always key. Most people will be comfortable if they understand what it is that they’re doing, if they have a level of education on their expectations or their outcome…an appreciation for how it all works.”
However, potential property investors are often risk-averse, or overly cautious about debt.
“One key reason I joined Property Mavens is it gives me a more rounded platform from which to work. Everything is set up in great detail, so I can focus on what I do best, which is to provide comfort to investors, to demonstrate that debt isn’t necessarily a bad thing, that it can work in their favour.”
Make the switch to buyer agent with Property Mavens
Join us at Property Mavens for ongoing training and mentoring including more information on property finance. But don’t leave it too long; we’re limiting our elite group of Mavens to the best of the best, those of you who are motivated to succeed with the guidance of an expert who is active on the ground in the buyers’ agent and vendor advocacy market.