How can a sonographer start investing in property in Australia?
You're scanning a full list every day, fitting in urgent DVTs and trying to take agents' calls in between all of that madness. On top of that, you've got doctors calling you about your reports or asking you to fit in another patient. There's no gap in that day for open homes, contracts or negotiating. Trust me, I know. I've done it as a sonographer, and building my portfolio around that was near impossible. I still bought eight properties in eighteen months.
Short answer: Start with three things. Know your borrowing capacity, decide what structure you'll buy in, and get clear on what type of property you're chasing. A mortgage broker sorts out the first, an accountant the second, and a buyers agent like me takes care of the rest, from finding the property to negotiating it on your behalf.
Where to start
Know your borrowing capacity. Before you look at a single property, find out what you can borrow. If you work as a contractor or locum, lenders treat ABN income differently from a wage, and many want one to two years of tax returns. A mortgage broker who works with healthcare workers will know which lenders suit you.
Decide on your structure. Your own name, joint names with your partner, or a trust or company. It affects tax, asset protection and how easily you can buy the next one. Speak to an accountant before you sign anything.
Know what type of property you're chasing. Growth or cash flow, house or unit, and what it needs to do for you in five or ten years. If your shoulder or wrist might force you to drop days one day, factor that in now. The goal decides where you buy, not the other way round.
Hand over the time problem. This is the part that stops most sonographers. Researching suburbs, inspecting, chasing agents and negotiating all happen while you're scanning. That's where I come in.
Who does what
Mortgage broker: borrowing capacity, ABN or locum income, finding the right lender.
Accountant: structure, tax and ownership.
Buyers agent: research, sourcing, inspections, due diligence, negotiation and setting up a property manager.
How I help
Now I take that time strain away from you and do it all for you. You make the final call at every step.
After shift call. We go through your goals, your numbers and what the property needs to do. You get a written buying brief.
Research and shortlist. I find the suburb on the data: supply, days on market, vacancy and rent. If it fails, we walk away.
Inspect. Every property is inspected in person, by me or a licensed buyers agent I trust on the ground.
Due diligence. Building and pest reports, the contract with your conveyancer, and the numbers checked again.
Negotiate and secure. I deal with the selling agent, negotiate the price and terms, and get you to contract.
Settlement. I coordinate everything through to settlement.
Property manager, if you need one. I'll help you find and set up a good local property manager, so the property is tenanted and looked after from day one.
Questions people ask
Can I buy while I'm working locum contracts?
Often yes, but your broker will need your tax returns and possibly an accountant's figures. Get that sorted before we start searching.
Do I have to inspect properties myself?
No. You get the findings, photos and numbers, and you decide.
When should I talk to a buyers agent?
Once you know roughly what you can borrow, and before you've picked a suburb, so the choice is made on data.
Luke Murphy is a buyers agent who works only with healthcare workers, Australia wide. He's a sonographer himself. General information only, not financial advice.
