Forum Replies Created
Hey thanks you guys for your replies.
Can you please let me know what some of the things are to look out for or be prepared for?Regards
FrankHi Anthony,
I have all the details for these properties.
Are you able to give me your details or ring me on 0433564789.regards
FrankHi Wayne,
I meant the Northern suburbs of Melbourne.Regards
FrankHey QL,
I have recently spent a fair amount of time on the phone with the manager of this company.
I had the same concerns.
He is basically a middle man for the real estate agents promoting mainly high yielding properties.
I looked at a few examples in America and you must question the yields.
Some of the yields were best case cenario but I found a lot of the properties were not fully tenanted or empty.
He says it is a free service but a fee of about $4000 is to be paid to
the agent that in turn goes to him. Like a spotters fee.
It seems quite reasonable to me compared to other spotters fees being charged. However a search on the internet may find you the same property minus the $4000 fee. I did that tonight on a property in Cairns.
Hope that helps.
Regards
FrankHi Sweetpea,
Can you please explain how the scam worked a bit clearer, I had trouble understanding.
Regards
FrankHey notti,
For sure in my opinion I would not use solver.Regards
FrankHow you doing?
I had a painting business for a few years.
As far as I know all those brands cost pretty much the same and I have used them all. I personally would not use solver. I generally used Wattle and only occasionally Taubmans. Wattle spend the most on Paint development and use superior ingredients to make an underpriced paint compared to the others. Another top brand is Haymes.
Most paints are guaranteed for 10 years, however I can tell you from experience not all paints last 10 years.
The paints I found lasted longest were Wattle and Haymes.
Hope all that helps.Regards
FrankHey Luke ,
Thanks for your reply.
It seems like a good investment. The figures add up but the reality does’nt seem to.
Any other suggestions, I am looking for yield.Regards
Freeman cooperHi Guys,
I have been to several meetings and still receive IC newsletters.
I looked at the deals and decided not to go with them.
Look at the ASIC web site FIDO and do a search on IC.
IC members rely on the equity they have built up in the properties to fund the next one. No problem with that, but the price is set by what everyone else has paid for similar properties, usualy in the same building or complex. The builder normaly buys the first few properties in another company name at an inflated cost. Sometimes by 10-20% more. The so called independant agent comes in to value the property and the developer shows him how much he sold the last lot of properties and the market value is set, although not acurate.He then rents it himself for an over inflated rent and sets the yield with a guarantee for 12 months to himself. He sub leases it for a bit less, takes his money and runs. After 12 months the tenant leaves, you try to replace him fror the same rent but can’t. All of a sudden a good yielding property has turned to vinigar.
I bought a property 12 months ago that was sold to the previous owner this way. He had the property for 12 months and was told it would yield 10+%. It did’nt even yield 5%. I bought it off him because he could not afford to keep it for market value which was 60% less. Yes 60% less. My suggestuion is that if a 2 bedroom property is selling for $300,000 from the developer and renting for $350 per week, have a look at an older 2 bedroom building close by and look at the rent. Also remember that your property will be old one day. The depreciation lure will be spent.
Regards
Insider synic
