Thanks for the encouraging words, Kay!
Yeah – if you want to take it to the next level, where do your obligations as a professional spotter end? Are theere additional duties imposed on you, for example to make sure that there’s no problems with the house? If you recommend a lemon, are you exposing yourself to being sued for negligence? Do you need professional indemnity insurance? Even worse, is there any insurer who’s going to be willing to cover you without charging $250,000 per year in premiums?
Just playing devil’s advocate here. [
]Cheers
Elysium-wet blanket-MElysium,
Given that this is a “discussion board”, your wet blanketism is certainly welcome- welcome to me, anyway :o)
Since the property boom, there have been a number of new phenomena- including spotters, and I think spotters might need to think carefully, whether the 2k or whatever, is worth it, if a buyer decides they don’t like the house and need someone to blame.
It’s amazing how people love to blame others. “Gee, i’ll pay 15k for a seminar, and then when the guy goes broke, i’ll act like a victim”. A pity people don’t think a little before they hire spotters and attend seminars. Presumably, people who have faith in their *own* judgement need neither.
kay henry
The only problem i can see is the problems i can see… : )
For instance the deal goes sour, facts are not entirely upp to scratch etc.. guess you still have to conduct your due diligence.. : /
REDWING- The cautious
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Quote:Originally posted by Still in School:Hey Steve and Guys,
I just checked in, in setting up my own buyers agent as well.
First problem is, legally by law you are not allowed to spot property to some one else and charge a fee. If you do there is a $24,000 on the spot fine.
Hi SIS
may be you can join the Dynamic Duo so it will become the Dynamic Trio[^]. WHat state would you concentrate on SIS if you were to become a spotter?Hi Celivia,
Every State! [:o)] Always [8D] looking and hunting them down. [^], the property watchdog… [8D]… lol
Cheers,
sisWell I know I was once prepared to pay spotters fees at one stage till I realised just how easy it is to find the properties. However if I was cashed up and no time I would still happily pay it to some one that I knew would do the right thing. When I look for properties, the only ones I would be willing to spot would be ones I would be prepared to buy if I was in a position to. There are many more I could say I have, but I wouldn’t buy them, not coz the house isn’t good, but coz the area would be hard to get the appropriate rent to make it a +ve property.
Hopefully all the spotters out there would be thinking along the same lines. But yeah thats why eventually they bring so many laws in coz of the sharks that feed of vulnerable prey.
Regards Bear
WE ‘birddog’ properties for investors , we also have the facility on our site for people to locate homes for us.
It’s a great way to find deals, best part is, it’s a really good way to get started and learn as you go along….
Anyone can do it without professional training.
thanks for your time,
Chris.Originally posted by SteveMcKnight:Hi,
One of the soon to be released additional features of this site is a system whereby people who know of deals can advertise them within strict guidelines which includes giving an initial outline of the numbers.
This is will be a paid service (something nominal, say $20 per deal) for the person submitting the advertisment. Alternatively people can subscribe (another nominal quartely fee) for a priority access service where they are notified every time a new deal is posted to the site.
I hope to have this released by the end of the month.
Stay tuned for more info…
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Hi Steve,
I am still finding my way around bulletin boards, and can’t find whether you have started this service. If you have, can you please tell me how to navigate to it?
Many thanks.Mary
I guess you have looked into the license requirements in each State you intend to market your Website.
Certainly in Qld you would need to be licensed and may need a full Real Estate License dependant on the numbers of properties you intend to market each year.
Cheers Richard
richard at fhog.com.au
http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
If you recommend a lemon, are you exposing yourself to being sued for negligence?I was talking to Bruce Whiting (head of the Mint Group) and he said that theoretically you can’t be sued as it’s just information (just to be sure, check w/ a professional). I’ve been talking to ppl on the rdpd forum and one person said that some ppl get a solicitor to do up a contract between the investor and bird-dogger/spotter. I suppose in that contract there would be a clause that states that the bird-dogger is not liable if the property is a lemon and it is up to the investor to do the final due diligence or sumthin like that.
Jim
Hello, I see a couple of yu have been to our website, and I noticed that I neglected to add something to that last post I made…I must add..as i had said on another board up there ^^
** I was referring to here in the US when i made the comment regarding the birddog services.
Here’s how it works, in short…and I would appreciate any updates on this from your Aussie end
( I am from Vic, been here 3 yrs )…If you have an ‘option to purchase’ contract with your seller, you may assign that right to a 3rd party/end buyer, so long as the contract has the assinment clause within it.
That said, you are not representing either buyer OR seller in the transaction, but you have an equitable interest of your own.Otherwise, for birddogging, you have a payout agreement in place with your buyer, showing an agreed upon % of the final purchase price.
He signs a non circumvent with you so you have peace of mind hes not going to ‘backdoor’ you, so to speak.
In the US things are a whole lot simpler I think, but we are both eager to begin buying back in Aussie as well,( hubby is American ) so I will start surfing this site again….summer break, kids home here etc…….Site looks great, thank you for your time e’1
we wish you all a pleasant afternon, and if you’re in Central/Northern Vic please feel free to email us.
Chris & Kerry Mulherin
USAOriginally posted by SteveMcKnight:Hi,
One of the soon to be released additional features of this site is a system whereby people who know of deals can advertise them within strict guidelines which includes giving an initial outline of the numbers.
This is will be a paid service (something nominal, say $20 per deal) for the person submitting the advertisment. Alternatively people can subscribe (another nominal quartely fee) for a priority access service where they are notified every time a new deal is posted to the site.
I hope to have this released by the end of the month.
Stay tuned for more info…
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve posted this in Jan. Can’t find the section on the website though. Did I miss something ?
]
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