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Hi all,
First posting here. I was wondering if anyone has purchased property with the assistance of any Melbourne based property Investment companies ?
Any experiences …good or bad ??
I am a first time invester and dont want to get burned by a shonky !Hi Rick,
I have been to many free seminars and the message is always the same… get the tenant and the taxman to fund your financial independence.
What’s important is to differentiate between the facts and the hype.
If you are determined to buy an inner city property then you might find that the stamp duty savings are less than the discount you can attract by buying a second hand dwelling.
Remember to always ask “who gets paid when I buy?”
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
I’ll have a go at answering your query seeing that Steve baulked it.
Never go with these companies that offer free seminars to flog their product.
In Melbourne, the company with the best reputation is Wakelin’s. You have to pay to go to their seminars and their advice is not tainted by any secret commisions etc.
And no, I dont work for them nor do I have anything to do with them. I just know this from research. [
]Has anyone heard of Cameron Bird (Your Property Partners)? Any comment?
Thanks,
ArnaldoHi,
I thought Cameron Bird was an accounting firm???
Bye
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Cameron Bird advertise heavily in API mag….
In the current issue they have a sealed envelope….opening it up reveals a printed document “How To Retire Wealthy”
After a quick scan its about them finding +ive cashflow IP’s in BNE, VIC and NSW…..
do your due dilligence and as always caveat emptor…
cheers
wattoHi all & sundry[
]Has anyone knowledge of or had dealings with Westpoint Corporation particularly in with respect to property investing etc…???
I think they mainly deal in Aussie inner city hotels/apartments.
Much appreciated. David…..DooDahDaveHas any got any experience with Cameron Bird?.
I am planning to buy a house in Cairns ($275K at Redlynch)from their recommendation.
Hi, Has any one had experience with
National Investment Institute?
Thank youBob & Sandy
Do a search on “Investment Institute” for some excellent messages on this subject.Keep smiling
Felicity
I was wondering if anyone has purchased property with the assistance of any Melbourne based property Investment companies ?Hi Rick
We never have to date, as we prefer to have total control.The more people along the food chain the more careful you need to be.This is not advice Rick ,only what we do.
“A bank is a place where where they lend you an umbrella in fair weather and ask for it back when it begins to rain
Rick & Kirby
when I buyRemember to always ask “who gets paidRegards,
Steve McKnight
I believe this answer is very important as it applies to the food chain concept
Cheers Rob
“A bank is a place where where they lend you an umbrella in fair weather and ask for it back when it begins to rain
Thanks for you info guys.
The company we have been speaking to is called Benificial Property Investments. We spoke for 2 hours with an accountant who provided great advise for us first timers. There was no pressure to do anything we didnt fully understand. We have a follow up appointment in a few weeks. So far they seem up front and easy to deal with…hope it continues[]Hi Matduqua, just a suggestion, but you could check on eg. websites like realestate.com and domain for comparitive house/rent prices. Also ring agents for info. I have found most of them are helpful and I still do research on areas I am interested in. Destiny Financial Solutions also had pos. cash flow properties in Cairns, less $, looked ok. Look at their web site too. Anna
Quote:Has any got any experience with Cameron Bird?.I am planning to buy a house in Cairns ($275K at Redlynch)from their recommendation.
[Hi, I am also interested in this company but so far have been unable to find anything. I was wondering I you have since posting this question? If you have any information would it be possible to send to my email address, [email protected] Thanks, Steve.]]
Hi all,
Dear lord…PLEASE stay away from property investment companies….
I think I made a post ages ago, when I first posted at this forum as a newbieUnfortunately I made it onto the Cameron Bird mailing list [
] and whilst they heavily advertise in the API magazine and send me brochures, I do not know whether they are a good company to invest in or not. However, I went through one of the letters advertising property in Cairns and I could pick up catches in everything they offered in the letter. There were to many ‘what if’s ?’ left in my mind after reading it.
Why are they so heavily advertising if it is such a great deal?
Who benefits from the sale?
Why are they offering such discounts?
How do you know they are discounts? Will they show you the proof of this?
These property investing agencies have to cover their expenses of advertising, telemarketers, hiring people to show you around the property, seminars on negative gearing, the property itself, developer etc etc…The list continues.
Once they all get their cut, what is left for you??? They have their margins, so that it covers them for a rainy day. It’s almost like offering a rental guarentee, when you purchase a property, but selling the property at a premium, thereby covering their behinds if they need to act on the rental guarentee.
Moogie and I, wasted approx. $1200 just to get out of contracts of sale, which we had done through these property racketeers. Fortunately, we introduced a conveyencor ([?]spelling) to PI and he gave us a discount on the breakout costs.I have gone through archives to find links to help you make your decision more informed…I urge you to read them before signing any contract. By the way, Wakelin (in Melbourne) are the authors of “Streets Ahead”. I have had no dealings personally with them, so in all fairness I cannot comment on them. It’s a good book, but still PLEASE find out if this is for you before heading into contracts.
Hi all,Just some more links directly to stories of interest courtesy of ninemsn.com.au
Here is one link to another piece done on property scams
http://aca.ninemsn.com.au/stories/982.asp
Here’s some other direct links for avoiding property misfortunes:
http://aca.ninemsn.com.au/factsheets/983.asp
FRom the archives…under ‘useful links’ post…
Hi all,In the latest Personal Investor magazine, of October 2002 http://www.personalinvestor.com.au/
There are some very interesting articles on property. Well written and well rounded advice. Including advice on ‘Off the plan’ buying.
I am going through the archive to find the post I wrote when I was a ‘green newbie’as it may prevent someone for making a mistake.
The post is called ‘Costly Education’ and I have revived it, to make it easier for you to access. Some of the links mentioned above are listed their too. In this case, doubling up can’t hurt, but it’s absence might.My skin is tingling with alarm bells…..[
]A very concerned Sooshie!
There are no problems, only solutions
i’m a lending manager for a finance co. which i won’t name and in my experience when lending money for new purchases more often than not if an IP has been bought via an intermediary then it is over priced
in some instances when we’ve instructed a val some two years after the intial purchase (off the plan) the property is only just coming up to its real value yet these people bought two years ago at a huge discount
i also see tax returns everyday of the week and in most instances people with a negatively geared portfolio are praying that they don’t lose a tenant as this would cause a catastrophe in their monthly finances
wrapping for me is a much safer option and also at the lower end of the scale when it comes to committing your self for finance
in my daily routine lending money i come across quite a few people who are unable to obtain finance i currently have six clients who i’m locating properties for and only found out about wrapping a bit over a month ago since then i’ve spoken to a few people from this site and find that i’m on the right track
and guess what, haven’t been to a property seminar[
][][][][][]Hi Gary,
Welcome to the PI forum. Sounds like you’re sitting on the right side of the fence. If people don’t qualify for a bank loan, you can do it through vendor finance, and if they do qualify for a bank loan, through normal channels, you get commission on the loan. Either way you can’t loose. Sounds good to me…
Cheers
Sooshie []There are no problems, only solutions
Hey Everyone.
I also work for a major lender and I have seen some good and some bad investment companies. The best way to protect yourself is to get an independant valuation. This costs $200 – $300 and will be written to you with your name on it. This means if you then buy it and find out you got ripped off for $20,000 you can sue the valuer. The property company will probably show you a valuation they have got, which is written to them. You don’t have the right to sue their valuer if the property isn’t worth as muh as they say it is. Some of the companies have valuers getting paid extra to give them high valuations so they can claim they are discounted.
However I have found some real gems as far as Investment property companies go. Don’t just dismiss the entire industry as a scam.Happy investing!
Otto Dargan
Sorry Otto
but I’m going to have to disagree with you and say that the whole industry may not be sharks but that so many of them are why waste your time trying to hunt out which are and which aren’tthe only person that cares more about your money is you
call me cinical but i believe that if your going to put your neck on the line and invest why let some slick salesman convince you
people are better off spending time in a forum like this which i think is more beneficial
if you still don’t believe me you should see the application in front of me (2 property marketing co’s receiving 4% commission each before the property gets to the purchaser and guess what they supposedly recieved this property at a huge discount)
my suggestion to people is to learn as much as you can and do all the work yourself
Regards
Gary
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My mission is to enthusiastically inspire other people to become greater and more powerful today than they were yesterday
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] and whilst they heavily advertise in the API magazine and send me brochures, I do not know whether they are a good company to invest in or not. However, I went through one of the letters advertising property in Cairns and I could pick up catches in everything they offered in the letter. There were to many ‘what if’s ?’ left in my mind after reading it.
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