Tonight I had someone over my house telling me all about their company and how they sell you properties off the plan or newly built homes.
I just wondering if anyone out there has done this before and wanted to know your experience.
I am not sure if I can mention the company here on the forum, but they have been in business for over 25 years.
Should I give them a go?
Hi Jonesy
What makes you believe that the properties they are selling will make for a good investment?
Have you done any due diligence on the area? Have you sussed out comparable sales? Are they building and selling or are you dealing with a middle man who stands to make a commission on the purchase? Did you contact them or did they contact you?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hey Jamie
No I haven’t done anything except met a sales person. They charge $100 to have a look at their properties.
Hi Jonesy,
Really difficult to give you concrete answers without knowing the name of the company involved. Many people come on here and ask 'Has anyone had any dealings with (insert company name here)" to see what sort of feedback they will receive.
Off the plan and new house and home suggest a marketing company of some description who will be receiving commissions from the vendor.
You need to work out what attracted you to this particular company and what services they provide which you couldn't do yourself.
Whatever area you look at you will also need to do your own checks and balances too. After all it could be (is) your money on the table.
What you should do is deal with someone prepared to mentor you. Most marketing companies are just out to sell you a property. Thats understandable as most of these companies have huge overheads. However is that best for you.
It also comes back to what are you trying to achieve.I find that in many cases people do not really know what they want to do.
I normally start people off by helping them to design a life plan and then get there finances assessed.It is a matter of looking at the entire picture and not just trying to scare you into buying what they have to sell you
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
The name of the company is Park Trent Property Group. Has anyone dealt with then before? If yes please let me know about your experience
Do a quick search on previous posts and you will see the comments others have made about the Company.
Just read them sitting down and with your hands in your pockets.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
jonesy06 wrote:Hey Jamie No I haven't done anything except met a sales person. They charge $100 to have a look at their properties.hahaha. That's hilarious.
Don't believe anything this person tells you. I was taught not to listen to people that have a vested interest in your purchase. The salesperson is paid by commission. So they "REALLY' want you to buy something from them.
Run Forest Run!!!!
I agree with all of the above forumites, run and you shouldnt have paid the $100, if anyone asks for money up front to show properties they are selling walk away, alarm bells should be ringing, this type of sales/marketing is preying on people with little to no experience, so they can sell overpriced off the plan apartments and house and land packages ect
my advice for what is worth Jonesy is read as much as you can on this forum ask lots of questions, you will learn very quickly and will be finding your own better deals in no timeall the best
Thanks everyone for your comments and just to clarify I didn’t pay the $100 that’s what they want to charge me to view their properties in their office nearly 2hrs from place – I don’t think so.
The home visit was a freebie.
Do who can recommend someone in Sydney who can give good financial advice?
jonesy06 wrote:Do who can recommend someone in Sydney who can give good financial advice?What sort of financial advice are you after?
Financial planning?
Property investing? ie BA
Mortgage?
Super?
Insurance and risk management?
Accountant?
Debt management?Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Michael
I'm looking to find someone who can look at my financials and give me some good solid advice on how to create wealth for my family for the future.
A few years ago I had another investment property but it was eating all of my cash flow and I had no money, so I had to sell it.
I finally own my own home and I have one investment which I have nearly paid off and is positive geared.I just want some advice or real life stories on how people can buy multiple properties without eating the cash flow??
Try David Linco at Davlin Finance.
Website – http://davlin.biz/
T:8843 8999
David is qualified in many areas and he has set up a business with all complementary services under one roof but excluding property 'finding' services.
jonesy06 wrote:MichaelI'm looking to find someone who can look at my financials and give me some good solid advice on how to create wealth for my family for the future.
A few years ago I had another investment property but it was eating all of my cash flow and I had no money, so I had to sell it.
I finally own my own home and I have one investment which I have nearly paid off and is positive geared.I just want some advice or real life stories on how people can buy multiple properties without eating the cash flow??
Looks like you need to find your self an “A team”- accountants, financial planner etc…As each one will help with your inquiry from asset protection to overall financial cost.
Regarding helping you find a CF+ property ( seems like what your looking for) , i wouldn’t go past Nathan Birch ( Sydney).
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Hi Jones,
I have met with 2 different companies similiar to yours. The first one, 360 investing, charged me $770 for a membership fees. I have decided not to proceed with them and now they're not willing to refund me that fees.
So be careful if they ask you to make payment about a membership fee.
Next week I have another appointment with Bluestone Investment. I guess most of these companies try to rip you off by inflating the properties prices and they are getting huge commissions as well.Do you like paying huge commissions? Would you like to pay 5-10% or perhaps 25-100k in dollar terms extra and above what a skilled buyer would pay for that property sir?
Now this might seem like a silly question but if everybody answered no the marketing companies would vanish overnight. They won’t of course because what they do can be so lucrative and most buyers don’t realize what they are dealing with.
jonesy06 wrote:MichaelI'm looking to find someone who can look at my financials and give me some good solid advice on how to create wealth for my family for the future.
A few years ago I had another investment property but it was eating all of my cash flow and I had no money, so I had to sell it.
I finally own my own home and I have one investment which I have nearly paid off and is positive geared.I just want some advice or real life stories on how people can buy multiple properties without eating the cash flow??
A financial adviser will not necessarily give you the solid advice you want. I did the run around with financial advisers and gave up. They all pushed share funds or the like. Even when I specifically said I was interested in property.
You need to decide what strategy suits you.
Do you want to buy property? If so do you want buy and hold? if so will you renovate to increase equity and yield?There are MANY ways to make money in real estate.
There are lots of books, magazines out there with hundreds of real life stories about how people made their money.
Go to the library and borrow some Australian property investor or Your Property investor magazines. Lots of real life stories in them.Post here again if you have an idea of how you want to precede. It's difficult with so little info on where you want to go. You can get properties that aren't so negatively geared so your lifestyle doesn't take a hit.
What is your end goal?I myself buy, renovate and hold. This gives me increased equity (so I can refinance and buy again). It also gives me increased yield so I'm only slightly (if anything) out of pocket (on 105% lend). My next one will give me $50K increased equity with $60 a week CF+.
Love it.Keep asking questions.
)Catalyst wrote:jonesy06 wrote:MichaelI'm looking to find someone who can look at my financials and give me some good solid advice on how to create wealth for my family for the future.
A few years ago I had another investment property but it was eating all of my cash flow and I had no money, so I had to sell it.
I finally own my own home and I have one investment which I have nearly paid off and is positive geared.I just want some advice or real life stories on how people can buy multiple properties without eating the cash flow??
A financial adviser will not necessarily give you the solid advice you want. I did the run around with financial advisers and gave up. They all pushed share funds or the like. Even when I specifically said I was interested in property.
You need to decide what strategy suits you.
Do you want to buy property? If so do you want buy and hold? if so will you renovate to increase equity and yield?There are MANY ways to make money in real estate.
There are lots of books, magazines out there with hundreds of real life stories about how people made their money.
Go to the library and borrow some Australian property investor or Your Property investor magazines. Lots of real life stories in them.Post here again if you have an idea of how you want to precede. It's difficult with so little info on where you want to go. You can get properties that aren't so negatively geared so your lifestyle doesn't take a hit.
What is your end goal?I myself buy, renovate and hold. This gives me increased equity (so I can refinance and buy again). It also gives me increased yield so I'm only slightly (if anything) out of pocket (on 105% lend). My next one will give me $50K increased equity with $60 a week CF+.
Love it. It works for me but it's not for everyone. I love doing the renos. As I said. Find what you love. It's so much easier if you really love it rather than just "have" to do it to maker money.Keep asking questions.
)Hi Jonesy06,
I`ve been in real estate 12 years & now specialise in selling land & working with builders to offer house land packages.
I recieve a call every week from a different property investment spruiker wanting house packages so they can on sell to clients for $30k or $40k more. (we have no interest in dealing with them.)
It still amazes me that buyers dont just visit the land estate, pick a lot & a builder themselves & save the big fees, its not hard!
or visit the unit complex & purchase direct.The reason they want money up front is protect themselves incase you do just that.
Although to be fair to the investment marketing companies (the honest ones) they should be paid a fee for their time & advice as without them a lot of investors would do nothing.
A question you could ask the investment salesperson is `How many have you brought?` & `what price did you pay?`
In my experience most would not buy what they are trying to sell you.
as they say, education is power, educate yourself, surround yourself with various professional people you trust, set a goal & a plan & go for it!you will make a few mistakes, we all do, although it will probably still cost less than the $40k as mentioned above.
I hope this helps,
thanks
)
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