Iron Fish property investing group - consultation next week

Hi guys, I'm new to this forum, just getting started in the property investing game and i'm really enjoying it so far.

This week i went to a seminar here in adelaide with a group called "iron fish" which was presented by a guy named Damon Nagel - an investor in the UK but born of Adelaide.

I must say alot of what was said i had to agree with, including trends for adelaide and simple fundementals of buying and Holding strategies etc. 

Anyway, the seminar piqued my interest enough for me to book in to speak with a consultant for some free advice which gives me a chance to ask some questions.

What i was hoping you guys would be able to help me with is in some good questions i can ask the consultant, both about what they do and what they can do for me?  Also,  have any of you heard of Iron Fish? They seem to be recently established (if google couldnt find much on them) but they seem to know what they are talking about.

I have no experience with groups like this as i am new to the game, so any advice or tips from more experienced individuals would be wonderful.

A bit about me, I'm 23 and have been working on a full time salary since 21, i bought my first investment house+land property early this year for under 220K in what i believe is a growing area, and i also invest a little in the share market.   Living at home with the folks has enabled me to do this much so far but i want to continue with the property investing as soon as i can. 

Please feel free to say hello and offer advice :)

Matt

Hi, I've been to one of their info evenings & they're marketing Newport Quays & home & land packages in Andrews Farm.

I declined on the Newport Quays apts. but was quite interested in the home + land packages. Because I source for properties myself, I didn't buy any through them. In hindsight, the Andrews Farm properties would have done quite well [roughly 20% increse in value after 1 year] but then, all Adelaide properties would have produced the same results.

My latest thought is that houses in the $350-380 thousand range would do well.

KY

Hi golfer23,

Matt

Be very careful going to education seminars about property investing.  Most of these seminars use education as a tool to get you to buy a property from them at a much higher price than market prices, usually pocketing many of tens of thousands of dollars if you sign up.  They will usually also get you to finance through one of their associated lenders and also get valuations from one of their associates.  I cannot say whether or not Ironfish fall into this category.

There have been plenty of warnings in the media about companies who use education seminars to sell you properties at inflated pricesand perhaps then even guarantee rental income, by paying you back some of your own money.

Use google and look for the following articles printed in the Australian newspaper.

Spruikers blamed for builder collapse 
TV journo spruiks low-profit scheme
Location: it isn't an untold trusim
Rental crisis 'over' as vacancies rise

If you want to invest in property, it is best to do your own research and not buy through a seminar.  The education provided in these seminars is usually designed to get you to purchase through them, often for a price $60,000 or so higher than what you could do yourself.  

Please respond to this post after you have read these articles.

John