At Ironfish, some of our customers come to us because they want to invest in property but have no idea where or how to start. Nirmal Singh, on the other hand, is one of our customers who sits at the opposite end of that spectrum. A highly experienced property investor, Nirmal already owned 8 investment properties when he first contacted us, and had been investing in property for over 16 years.
“I had heard from friends that Ironfish were pretty good, with offices in lots of cities. I decided to call them because they were the one company where I hadn’t been to a property investment seminar yet, and I didn’t know what their property range was. After I called the office, an Ironfish strategist came over and did an in-home presentation, introducing the company and herself . We talked about my goals and what I wanted to achieve. She is very approachable and has great willingness to understand my position and work around what I want to achieve. I’d talked to a lot of property investment companies and investment experts before, but I give more credit to my strategist and Ironfish as I quickly found they had the best strategy.”
Nirmal is a self-confessed ‘house and land person’. Most of his investments prior to investing with us were houses, initially second-hand houses, and afterwards new house and land packages.
“I grew up in a house and liked the freedom of a house, so when I started to invest, I was purchasing based on that experience. The best property investment I made was a house in The Ponds in Western Sydney – which doubled in value in 3 years. Plus, there are major tax savings in buying a house and land package, because you settle the land first and only have to pay stamp duty on the land so you save on stamp duty immediately. The depreciation schedule helps tax-wise as well – so all this makes house and land very appealing to me.
“However, before I started investing with Ironfish, I’d been making my purchasing decisions based on ’emotion;’ if I felt like I could live in the property, then I’d purchase it. After meeting our strategist, I learned the importance of taking emotion out the transaction and selecting properties by looking at it from an investment point of view.”
Nirmal purchased 2 house and land packages in Brisbane with Ironfish and, even though he had emphasised the point to his strategist that he didn’t want to buy apartments, he eventually also decided to purchase an apartment in Melbourne.
“I had purchased 3 apartments in the past – mostly in regional areas – and sold 2 of them. The expense was greater, with the strata levies etc, so it didn’t make sense to me. But when an investment opportunity came up in inner city Melbourne (Melbourne Village), even though my strategist knew I wasn’t interested in apartments as a rule, she wanted to pass it by me. It’s not that I’m sceptical, it’s just that I wanted to see the numbers. After having a look, I was very impressed. The location next to Docklands and the CBD, and being able to take advantage of stamp duty savings prior to the budget changes meant that I made an exception to my house and land bias!
“I like how my strategist provides a cash flow analysis for each property outlining rental income coming in, and other expenses involved. She provides the analysis which tells me whether the investment will be positive/negative/neutral so I know dollar wise what’s coming in and out at the end of the day.”
The expert’s expert
At Ironfish, some of our customers come to us because they want to invest in property but have no idea where or how to start. Nirmal Singh, on the other hand, is one of our customers who sits at the opposite end of that spectrum. A highly experienced property investor, Nirmal already owned 8 investment properties when he first contacted us, and had been investing in property for over 16 years.
“I had heard from friends that Ironfish were pretty good, with offices in lots of cities. I decided to call them because they were the one company where I hadn’t been to a property investment seminar yet, and I didn’t know what their property range was. After I called the office, an Ironfish strategist came over and did an in-home presentation, introducing the company and herself . We talked about my goals and what I wanted to achieve. She is very approachable and has great willingness to understand my position and work around what I want to achieve. I’d talked to a lot of property investment companies and investment experts before, but I give more credit to my strategist and Ironfish as I quickly found they had the best strategy.”
House and Land investor
Nirmal is a self-confessed ‘house and land person’. Most of his investments prior to investing with us were houses, initially second-hand houses, and afterwards new house and land packages.
“I grew up in a house and liked the freedom of a house, so when I started to invest, I was purchasing based on that experience. The best property investment I made was a house in The Ponds in Western Sydney – which doubled in value in 3 years. Plus, there are major tax savings in buying a house and land package, because you settle the land first and only have to pay stamp duty on the land so you save on stamp duty immediately. The depreciation schedule helps tax-wise as well – so all this makes house and land very appealing to me.
“However, before I started investing with Ironfish, I’d been making my purchasing decisions based on ’emotion;’ if I felt like I could live in the property, then I’d purchase it. After meeting our strategist, I learned the importance of taking emotion out the transaction and selecting properties by looking at it from an investment point of view.”
Buying an apartment
Nirmal purchased 2 house and land packages in Brisbane with Ironfish and, even though he had emphasised the point to his strategist that he didn’t want to buy apartments, he eventually also decided to purchase an apartment in Melbourne.
“I had purchased 3 apartments in the past – mostly in regional areas – and sold 2 of them. The expense was greater, with the strata levies etc, so it didn’t make sense to me. But when an investment opportunity came up in inner city Melbourne (Melbourne Village), even though my strategist knew I wasn’t interested in apartments as a rule, she wanted to pass it by me. It’s not that I’m sceptical, it’s just that I wanted to see the numbers. After having a look, I was very impressed. The location next to Docklands and the CBD, and being able to take advantage of stamp duty savings prior to the budget changes meant that I made an exception to my house and land bias!
“I like how my strategist provides a cash flow analysis for each property outlining rental income coming in, and other expenses involved. She provides the analysis which tells me whether the investment will be positive/negative/neutral so I know dollar wise what’s coming in and out at the end of the day.”
