read otton’s book, but it’s not the whole story?

it’s a rent-to-own contract with a $1 balloon payment at the end, not exactly paying just $1 for a house?

okay Jamie,

the word “interview” wasn’t my choice either, my word was “discuss”. that word “interview” came from the teachers I took the base courses and the aggregators I’ve met, and other mentors that I had discussions with suggesting that I need to “interview” more brokers if the ones I have already did have not jive with my objective or that…[Read more]

kinnon,
I have PM you :)

the requirement sounds beautiful in theory, but not in reality. a few former brokers have warned me against certain mentors as well, such as the aggregator pays directly to the mentor then the mentor suppose to pay the mentee. but the mentor never pay the mentee, and the aggregator do not want to intervene or know about it, and the industry…[Read more]

the mentors I have interview so far wants the monthly set fee plus the commission splits (both upfront and trail), and some also want co-ownership of my clients for life. that’s why i’m questioning this mentoring requirement that supposedly bring in new brokers and train them to be the best to make the industry better. this requirement is already…[Read more]

you can buy a lot of jam with that kind of money :)

yes, I’m talking about the required MFAA mentoring requirement for new brokers. from what I was told, if you are new to the industry and have taken the Cert IV course, then you are required to have a certified mentor for two years. If you also took the Diploma course, then any broker who has…[Read more]

those who’s on the receiving don’t want to change model, and MFAA is enforcing that model, and lenders are also endorsing the model

the current model is designed is so that it’s the new ones that get screw over !!!

“cut the official cash rate from 2.25% to 1.5% by late 2015” sounds like a real way to stimulate the economy?
this whole concept of manipulating the economy will eventually cause a crash. whatever happen to relying on supply and demand?

even if RBA plays with the cash rate, it’s not a direct relationship that the lenders will response as we have…[Read more]

$20k for 20 new brokers, I think would not be that bad.
I have deal with more than 1000 students per semester and got paid much less

and yes I have been told that there are mentors who have over 20 mentees, so that’s what their business is about

do the maths, 20 mentees x $1000 per mentee = $20,000 per month. why anyone not want to be a mentor, that’s more than a professor gets pay at the top universities in the world? I have heard of many say they don’t do it for the money,…[Read more]

I think I haven’t got a horse nor a cart yet, but I am assessing which ones to get.

agreed with you that getting a mentor with the same philosophy as me would be awesome, but I have never yet came across any so far. somewhat similar to the university days when you as a student just have to get align with the philosophy of the professor of the…[Read more]

most I seen around were 1% to 3% of the purchase price.
okay I found this online at http://yourpropertyhound.com.au/brisbane_buyers_agents_fees_cost/

Purchase Price Full service – Brisbane (+GST)
Up to $700,000 = $8,000
$700,000-1,200,000 = $11,000
$1,200,000-2,000,000 = $14,000
>$2,000,000 = $17,000

Purchase Price Full Service – Reg…[Read more]

and what is that fixed fee?

I’ve been told that I would own the clients and book, so take them wherever I go if our relationship does not work out. though I have yet to get the actual contract in from of me from all of them. I have met the BDM of my listed ones, except Vow which I spoken over the phone.

I like the structure that AFG has in place, especially with their…[Read more]

jonathan,
which aggregator do you think offer the best value for money?
I’ve narrowed down to vow, connective, choice, and afg. haven’t heard anything from loan market.

The Cert IV and Diploma courses are basically the same, only that the Diploma course has a few extra stuffs on consumer finance. these two courses needs to be just one course, and get rid of the useless case studies and role plays. they need to be very focus on the laws, regulations, guidelines, code of conduct, and so on. There are so many…[Read more]

Richard,
let’s expand the industry, share the knowledge :)

anyways, base on my research so far, why is it that buyer’s agents charge their purchasing customers a commission that is based on the sold price of the property? what is the incentive for the buyer’s agent to negotiate down the asking price for the property? please help me understand the…[Read more]

thanks coogee :)
why rural multis, besides positive cashflow?

the bottleneck seems to be serviceability, that each IP has positive cashflow and the rate of appreciation be such that the new appraised value would have sufficient equity values to get the next IP. I have been researching lots of different strategies in IP, but seems that the…[Read more]

okay, so what’s the best type of properties for good positive cashflow?

what are the statistics in term of cashflow for single homes, duplexes/multiplexes, apartment units, apartment buildings, retail shops/buildings, office buildings, industrial buildings, or vacant land?

please share your experience

I highly doubt there is unlimited finance…[Read more]