Hux001Member@hux001Join Date: 2003Post Count: 108
Any got a comment on “The Investor Club” They seem to be everywhere and have many satisfied clients.
My worry is they source the properties and offer them to you, maybe some two-tier pricing involved. ?AUSPROPParticipant@auspropJoin Date: 2003Post Count: 953
Yep – we had a heated debate on this a while back. The postings are probably in the archive section somewhere (actually I think it was in “opinions”). The summary of it was: they charge huge real estate agents fees to developers because they shift stock fast – especially stock that is questionable. The boom has masked a lot of this as the revalues have come in above what they sold for (as they should do in a boom) coupled with the fact that the buyers are advised to never sell. The agents that they have working for them get generous commissions depsite being under the pretence of voluntary labor. My beef is that it is not a club it is a real estate agency. The conclusion was though that if the property stacks up on its own merits (and get independent valuations for this) then the commissions involved shouldn’t matter so go for it. Does that help?