IPS Home Loans' Paul Wright sees his nascent property investment advisory busieness overtaking his financing arm within three to five years, due to demand in the NSW Illawarra.
Having started the business as an office of national property investment group MPA Property Group 18 months ago, Wright said the business had already added 'six figures' to the bottom line.
He said this would only increase. "It's been very successful. The demand is there, and it's been coming purely off the back of our own client base. When we expand to the open market, the sky is the limit."
Wright's decision to open an NPA Property Group office came after 18 months researching the property investment field, as well as becoming a qualified property investment adviser.
Wright himself is also an experienced investor, having been in the market for almost 20 years.
Wright said that property investment is easy to arm to add to a finance business, provided brokers have the property investment experience themselves to effectively advise clients.
However, he said the decision means 'a lot of work', and that adding these services is not simple.
"It's not just an add-on, we do run it as a separate business, and it trades under a different brand."
While clients see the two businesses as separate entities, in reality, the vast majority of clients do end up using IPS Home Loans for finance, though this is not a requirement.
Wright said his next challenge is stepping back from the finance side to concentrate on property investment. "I'm planning to focus more on the business than working in it," he said.
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