[thebigisleMember@thebigisleJoin Date: 2008Post Count: 12]

August 13, 2009 - 7:17 am

Thanks folks.

Looks like I will have to grin and bear it. The problem was the overflow pipe from the relief valve disappears into the concrete, so you can't tell if it is leaking. Great design

Another lesson learned.

 

[thebigisleMember@thebigisleJoin Date: 2008Post Count: 12]

February 11, 2009 - 1:19 pm

I have a friend who was in a similiar situation.
They pulled out of a contract and the PF rep tried to tell them they would still be liable for the $5000 "lifetime" fee.
Fortunately they found a better contact in another department and got away without paying it.
But the deposit was history.

Life must be getting harder for companies such as this.

They even gave the wife a call a few months back. She politely declined.

[thebigisleMember@thebigisleJoin Date: 2008Post Count: 12]

February 1, 2009 - 12:14 pm

Ouch!

[thebigisleMember@thebigisleJoin Date: 2008Post Count: 12]

November 17, 2008 - 1:21 pm

It's in bad shape.
Everything is on hold because no-one is willing to give Gunns finance at the moment. They could not have picked a worse time to try and raise capital and their shares price has plunged as well.
Gunns face a lot of hurdles. Still unable to buy land from farmers etc to build their pipeline to supply the mill and opposition to the project continues to grow. State Government is under intense pressure to withdraw its support.
Gunns' main hope now appears to be finding a joint partner.
 But it's all looking a bit sick.
Consensous seems to be it won't happen for a number of years … if at all.

[thebigisleMember@thebigisleJoin Date: 2008Post Count: 12]

August 31, 2008 - 11:11 am

Prices in Queenstown, Zeehan and Rosebery have already boomed (by their standards).

Queenstown relies on its old copper mine (a shadow if its former self) and a nearby gold mine, which will close in 18 months to two years if a new buyer cannot be found. But there is talk the copper mine will keep plugging away for a few years yet. There were actually some positively-geared apartments (former motel units) advertised recently.

Zeehan has a new mine and a reopened mine nearby which have good contracts with the Chinese. The place was a ghost town before these came back on line.

Rosebery's mine is healthy at the moment. A lot of people work there and travel back to the North-West Coast after their block of shifts.

Queenstown has a bit of tourism but most of that goes to Strahan, about 35 minutes away on the coast. Zeehan and Rosebery have nothing but mining, so if the industry goes belly up, so do the towns.

Unsavoury tenants can be a problem, particularly, as mentioned, there are no property managers on the West Coast.

It's a pretty tight rental market on the North-West, from all accounts.
 

[thebigisleMember@thebigisleJoin Date: 2008Post Count: 12]

August 31, 2008 - 10:56 am

bluedog47 wrote:

agree v8ghia,
it is pretty sad it takes days to have phone calls returned and even emails, you'd think they would all have a computer at home.
Just a word on the seminar thing as well, with this mob its not actually a seminar they get a half a dozen couples up for the weekend but the whole thing is done in one day, roughly 7:30am salesman picks you up from motel, then taken and interviewed by customer relations person and he tells you how you can do all the investing how it works and you ask questions, the finance person goes through all your stuff, comes out and says how much you can borrow to invest, you are then taken by the salesman again to the house where-ever that fits in with your investment bracket, on the way back you are taken to see a soliciter papers put in front of you and you sign up, with your normal cooling off period etc. taken back to the office for some more signing and reassurance and then dropped off again, at no time do you meet with other couples, allthough you could see them being lead around as well. it was all done by about 3pm in my case. As I said I'll keep you posted either way, if it's a good thing people should find out, if it turns bad as far as I'm concerned everyone will know, I worked hard for my money and want to retire in about 12 years when I'm 60.
Cheers
Bluedog

Enough said.

I have posted elsewhere about this mob … the commissions they reap left, right and centre; the speed in which they try to get pen to paper and their simplistic mantra: property doubles every 7-10 years, here's how much you can save in tax, take out a line of credit and watch the money roll in.

It could happen, of course, but one feels it would be by luck rather than design.

Where's that barge pole ….?

(That said, I hope it works out, Bdog. Hopefully you are in a good area).

[thebigisleMember@thebigisleJoin Date: 2008Post Count: 12]

July 3, 2008 - 9:42 am

bennyw wrote:

Well there seems to be a some small time finance brokers on this board. I can assure you that I am a REAL person and no, I don't work for premium finance. I have done web site work for them however. That is how I came to meet them.

I wouldn't hesitate recommending them, and yes some people may see my post as biased because I have done work on their web site. However, after making REAL capital growth from doing what they say, I am more than happy.

Some people could see other little mortgage brokers on this site as being biased as well. Putting their web site in their signature for all to see and commenting on other people's businesses. This does not seem to be very professional to me.

I think part of the point people are making is that you could still achieve the above, without paying someone $5000 for the privilege – not to mention all the other fees. They have a vested interest in the property they are recommending because they are making money out of it and are recommending lawyers they are very closely aligned with … and they want to manage your new property as well. Then there are the commissions they score for the finance. Not a lot of independent advice …. and fingers in a hell of a lot of pies!

They may not be dodgy – but they could be accused of taking advantage of less-informed investors. Guess some just see it as the lazy  – and expensive – way of investing.

 
 

[thebigisleMember@thebigisleJoin Date: 2008Post Count: 12]

June 19, 2008 - 7:36 am

I was just trying to say it a tad more subtly

[thebigisleMember@thebigisleJoin Date: 2008Post Count: 12]

June 18, 2008 - 3:00 pm

SteveJ wrote:

Can anyone confirm having to pay an initial $5000 fee to become a client prior to using Premium finances refinancing or purchasing services.

I would just like to check that everyone has had to pay this or is it  just me.  Its not mentioned anywhere on the website or during the phone conversations, only at the very end of the visit to the office.  Has everyone had to pay this or am I getting the wool pulled over my eyes.

All responses will be appreciated.

PM me if you wish although I see no harm in making this information public.

Yes, I think everyone cops this. Makes you a "client for life", apparently. They do not charge this when/if you buy more properties through them. They will also try to get you to use their "preferred" lawyers for conveyancing and to manage the rental property as well. All signed up on the same day, before you fly home!  

If you have an existing mortgage it will probably be refinanced with a particular bank and your investment loan could be spread between more than one lender.

So they make money from the fee, no doubt from the commission paid by the developer for the land-house package or whatever it is, from managing the new rental property and the commissions on the new and, possibly, refinanced loans. And the plan is that you come back to buy more.

They have expanded into Melbourne after doing quite well in Brisbane. Have an idea they concentrate on Melbourne's outer suburbs, where house and land packages are plentiful. They have probably been priced out of Brisbane in some regards.

Read between the lines …

Hope this helps.

[thebigisleMember@thebigisleJoin Date: 2008Post Count: 12]

June 3, 2008 - 2:44 pm

seank wrote:

aquarius69 wrote:

I dealt with Premium Finance. Went through the whole process of the telemarketer contacting me, them flying me to Melbourne at a fee of $295 and their staff doing a presentation. Yes, I found they do charge a fee for their service but believe it is well worth it. They do absolutely everything for you and direct you in the right way. I have found their service nothing short of fantastic and would not hesitate to recommend them to any potential investors.

Aquarius

Wow aquarius great FIRST post, they must be good tell me more

Here is another first poster who is more than happy to tell anyone more about Premium.
 And don't worry, I won't be toeing the "party line" …