Succeeding in property is often about being able to get the finance to be able to buy as much as it is about buying good quality properties. For mortgage broker, Dan Poudyal this is something he knows all too well.
Dan is a property investor himself and also runs his mortgage broking business as well as being an avid marathon runner.
After a 20-year career in IT and also running numerous successful side businesses, Dan wanted to get involved in property to continue to grow his wealth and also help others. He was lucky enough to be able to meet a mortgage broker who is his mentor and coach now who taught him a lot about property and inspired him to build a business. Quitting a full-time high-paying job was not an easy decision then but reflecting back it has paid off he says.
“I started investing in property and things started working out for me since early days,” Dan says.
“I was building a portfolio. I was educating myself and I was looking for a community where I could learn about property as well.”
Dan joined the Buyers Agent Institute (BAI) community as a way to better understand what it would take to help property buyers and also improve his own knowledge of the real estate industry. He says it is like any business you must understand your stakeholders well.
“The business model for a buyer’s agent resonated with me because buyer’s agents work for the customer,” he says.
“It’s not like your typical real estate agent, who is trying to sell the stock.
“We have to act in the best interest of the customer.
“Where I specialise in helping people build that large portfolio.”
“It gives me such a joy”
He says he also wanted to get a better understanding of how buyer’s agents operated and genuinely wanted to provide support to buyers’ agent and with first hand financial info.
“I also really wanted to understand the pain points for buyers agents,” he said.
“I’m all about helping educate and coach people about finance so Buyers Agent can close the deal faster.”
He says that many people will be able to buy one or two properties before they run out of serviceability.
“After that, they’ll hit the ceiling and they will not be able to expand their portfolio,” he says.
“This is because people are not strategically planning how to grow their portfolio long term”.
“It is all team work”
“That is where I come in, where I can help people to structure their loan correctly and help people acquire property in different structures”.
Dan says the BAI course was also instrumental to helping him grow his business, by better understanding how to build relationships with potential partners such as accountants and financial planners.
He also said that the knowledge he has gained about property has also proven beneficial.
“Although I’m a broker, people will ask, ‘what do you think about this property?’ he says.
“I want to be able to give general advice, at least.
“I’ve got that foundational knowledge, and I can guide them when required”
Dan says it was a hard decision to leave his high-paying career and move into mortgage broking, but he feels that it has started to pay off now.
“I’ve been in the industry for two years now,” he explains.
“The first year was not easy because it required a lot of effort and a mindset shift. I had the opportunity to work with one of the top 100 broker in Australia”.
“Then after my second year, I was awarded a Platinum broker status with a couple of big Banks.
“Over two years I’ve been part of settling loans of more than 100 + million and $30 million for myself.”
Dan says for anyone interested in pursuing a career in property or mortgage broking, it’s important to surround yourself with like-minded people and also be willing to learn about the industry inside out rather than focusing on expansion.
“Mortgage broking can be a very lonely job and we don’t really have that platform where we can interact and ask questions other than mortgage broking,” he says.
“So the BAI community gives me that.
“Every day I hear people doing amazing things within the community, and I get to start my day with a positive vibe.”
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