Forum Replies Created
- adviceman wrote:I think there are major benefits and also some challenges that come with dealing with Buyer's Agents like that. But if you want a large pool of possible sites, its a great place to look. good luck.
quote=richief]Hi forum members.
I'm asking for any insights into using Metropole as a buyers agent? I am considering using them to find and purchase my next investment property as was wondering if anyone has any experience using this company or the like???
Thanks
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Are you genuine Elmo? Did you get ripped of? or are you trying to rip off other people I bought the Carly Crutchfield property Developpment DVD Course and manual at her semminar last year for for I think $890 or around there. It included a ticket to her 3 day boot camp on property development. Has any-one paid 6,000 dollars for this info most of which can be got for nothing or just by doing. This normaly $6,000 is a con all these spruikers use so you think youre getting a bargain. I watched 4 of the 14 DVD s got bored stupid , and Couldnt concentrate, didnt want to waste more time, found alot of it wasnt very relevant to what I was doing. So I went and talked to real estate agents builders,developers ,an accountant, the city council and town planner and bankers Found it was easier and more straight forward than the spruikers would have you beleive, they seem to scare you into thinking you cant do with out their help. It was only a small single house development. Just getting out and doing something small is the best way to learn. Step by step. Town planners will tell you most of what you need to know. DONT DIE WONDERING JUST DO IT
oo3c Hi, before I start a property portfolio I would put say 10-20 K in a share portfolio which can be used as a buffer, they can be cashed out quickly and easily, give posslble high capital growth . They may give you more confidence to buy higher risk, higher return property. They wil still count as asetts on loan application. If you follow Ryan advice, which I consider irresponsible, I think a strategy which include a buffer is a must. Cheap houses are usally cheap for a reason. My prefered strategy is to look for land in towns over 10,000 pop, find places that have limited supply, in the most desirable location, put down a 10% deposite, usaully to a devolper who needs to get some sales under his belt. Settlement is after a building permit is obtained. I should get a building permit on current property in weeks, purchased feb 09 for 100,000 but only paid 10,000 deposite, money was borrowed, after tax deduction on interest , cost $500 dollars+ 700 for solicitor to draw up contract. Costs so far is $1,200 the land is now worth $150,000+. I was planning on buying 3+ of these properties, As I had little knowledge about property and about to commit some considerable money to it I went to 3 semminars they all told me B.S. dont buy in regional areas , smart people buy within 12K of a capitol city. So silly me Listened to their advice bought a property through a person who claims to be a best selling author it yeilds 25% less than what they said their minimuim yeilds would be, 3.3 instead of 4.4 took over 2 months to find a tennant, and now have to work to pay for it. Luckily I partly ignored these gurus advice and bought at least one property that they said was a stupid thing to do.
, Just wish I could have bought more but the banks arent very co-operative after buying the negative geared melbourne property One of the gems this agency offered to me at a bargain below market value,latter want to auction and sold for 13% less Another time also bought land found only 2 blocks available so I bought them both sold one for 30% profit with in 3 weeks didnt even have to pay stamp duty. This was also in an area where the experts tell you not to buy. So my advice is dont listen to advice. Seems to me all these"proprty educators' just want to haze you to their particular niche in the markrt place. Keep your eyes open , dont rush in to anything just to spend your money . When Oportunity presents it self be prepared to act when it does. It can be any where but probably not where most people say it will be.
