Has anyone heard of a mob called Wholesale Property Brokers who advertise on the radio in Melbourne. They are supposed to source property at wholesale prices – might be good to buy through…??
Thanks Greed- looks like you got some free spam advertising here
kay henry
No such thing as – “source property at wholesale prices” Its just marketing language designed for unsuspecting property investors.
Everyday I drive past one of their developments in Donvale. I will say to myself who would pay $350K for one of the ugly dog boxes. Their slogan of “ten year rent guarantee” is not worth the paper, or radio airtime, it’s written on.
Hi guys,
Taiws, think you mean Westwater properties, they are the ten year rental guarantee people. They also have these dog boxes in Donvale (cnr Springvale & Mitcham Rds). Not defending WPB, simply clarifying a point.Regards Tony
Originally posted by taiws:Everyday I drive past one of their developments in Donvale. I will say to myself who would pay $350K for one of the ugly dog boxes. Their slogan of “ten year rent guarantee” is not worth the paper, or radio airtime, it’s written on.
Ive checked them out before, had a few appointments with them. I dont like appartemnts and its all that stuff, off plan etc. Nothing special, and nothing you cant do yourself by opening the paper, closing your eyes and pointing. Chatted to what I consider a legend in investment and very rich man, he knew a couple of the guys at WPB and he wasnt impressed either. Not much to offer, sorry, just a whole lot of impressions.
hi , i have found it interesting that people are making comments about my company that are untrue. (WPB) One of the first comments was about Westwater and the other about only dealing with apartments is also wrong. Finally i challenge anyone to give their clients better deals.There is not a fat chance in hell that anyone could provide better deals without underwriting , but some people could do it by just opening the paper?
Originally posted by tony wpb:…i challenge anyone to give their clients better deals.There is not a fat chance in hell that anyone could provide better deals …
I accept your challenge. Post full details of your best ‘deals’ here and we’ll see how they stack up.[cap]
i challenge you aswell. lets see em’
My company has had some dealings with WPB. They come accross as very knowledgable and smart operators.
Originally posted by APerry:My company has had some dealings with WPB. They come accross as very knowledgable and smart operators.
…as did a certain other property developer / guru…[whistle]
Originally posted by tony wpb:
Finally i challenge anyone to give their clients better deals.There is not a fat chance in hell that anyone could provide better dealsUnlike the others Tony,
I’ll just challenge you to reply to a previous question I put to you with regard to one of your posts in which you claimed to offer people the opportunity of buying Richmond properties returning 10% + yields!!! Answer that one first, and then I just MAY take you seriously.
Cheers,
Jo
It very interesting that some of the users of this site have struggled to harness the english language, rebates does not mean yields and and cutting part of a sentence to attempt to mock somebody is childish. But i will entertain this behavior by responding ,i currently have actual deals for $395K already tenanted at $680/wk brand new… the properties in Richmond where i had said a 10%+ rebate is in actual fact in excess of 20%, but i dont like to talk things up, hence i gave conservative figures. i have clients that have setteld properties in the past 9mths with a purchase price of $375K , tenanted at $540/wk and already revalued in the past month for a LOC for another purchase at $510K, these are all new , and fantastic locations , they are not in a hole that nobody will want to live in. The only reason many regional areas have performed well is the inner rings have driven those prices up.
…as did a certain other property developer / guru… I have only made an assumption of who you are talking about, but your are sorely mistaken and should ask directly if you want the facts, i will gladly tell you what you wish to know.
the facts are i help people and do not charge $000’s for it and i only care about the results for investors. i have purchased crap property deals to get clients out of ordinary deals that i had no involvement with, so i do not appreciate being tainted. the fact is in the not to distant future i am intending on running free mentor sessions and i dont care if i am assisting with deals (which is inevitable) outside of my company.
the people that have actually dealt with myself or my company would know that we go out of our way to help people. we have advertised heavily on radio and industry publications and you do not see or hear of horror stories of dealing with ourselves. we have a fantastic loyal client base including wealthy business people and afl footballers that have all risked their reputations by writing personal testimonials about our services . Please do not assume that i or my company are just like every other investment group.
Originally posted by tony wpb:cutting part of a sentence to attempt to mock somebody is childish.
I don’t believe I changed the context of your statement.
i only care about the results for investors.Sorry, but this pushes my sceptical button. You are running a business, not a charity.
Do you use in-house and/or paid valuations? Why?
Who paid for the valuation figures you have been quoting here?
It has been almost impossible to lose money in RE over the last 5 years. What makes your company so special? The figures on the ‘immigration’ website you sponsor seem to show lower than average CG.“Michael and Andrea purchased their first investment property in February 2001 in Brunswick for $285,000. The property is now worth $350,000.
The pair purchased their second property in Elsternwick in March 2002 for $350,000 and it is worth $420,000 today.”
Why are you targetting New Australians in this way?
Are the $600+ pw rent deals being in any way subsidised for the guarantee period? If not, where do you source these tenants?
you do not see or hear of horror stories of dealing with ourselves.I have heard a few actually.
I’m also interested to hear more about the proceedings in the Supreme Court last year, as I have yet to read the transcripts…
Sorry to come across as sceptical, but I really am.[cap]
Originally posted by tony wpb:It very interesting that some of the users of this site have struggled to harness the english language, rebates does not mean yields
I don’t appreciate this comment one bit, I have an exemplary command of the english language and certainly don’t need you to imply that I do not.You Sir, DID NOT specify “rebates” in your post, however I will grant you that nor did you mention the word “yield” hence, for making that assumption I do apologise.
and and cutting part of a sentence to attempt to mock somebody is childish. But i will entertain this behavior by responding
I certainly did not cut any part of the sentence to the point where it changed the context. I merely took your quote and asked you for clarification of same. I believe the others here have done likewise, but you seem to be somewhat defensive and objectionable of people who are merely asking for more information; which IMO is within their rights. If you wish to convey professionalism, then perhaps you should accept that people will be sceptical and address their concerns without the condescending tone; any successful businessman/woman knows that this is the quickest way to lose customers.My reference to Richmond was based on facts. I know the area well and am fully versed with its socioeconomic and demographical make-up and I most certainly did not suggest it to be “a hole” although there are parts which are less desirable based on it’s resident constitution.
Finally Sir, I suggest that if you wish to enhance your level of credibility and hence maximise your spruiking opportunities, that perhaps you start with answering people questions rather than leave them half or totally unanswered and/or worse answered with only minimal details and maximum negativity. Perhaps you could address questions put to you in another forum of which either your alternate alias or colleague (whichever the case may be) has also left in limbo.
http://www.somersoft.com/forums/showthread.php?t=7001
http://www.somersoft.com/forums/showthread.php?postid=42957#post42957
i currently have actual deals for $395K already tenanted at $680/wk brand new… the properties in Richmond where i had said a 10%+ rebate is in actual fact in excess of 20%, but i dont like to talk things up, hence i gave conservative figures.
Can you explain this further??? Such figures (even for bluechip areas of Melbourne) is somewhat inconceivable to say the least.Having said all that, albeit unimpressed (so far) I do wish you well in your endeavours.
Jo
I share Monopolys’ disbelief in your returns, but will assume them to be accurate.
I’m still curious about this:i help people… …i only care about the results for investorsDo you give financial advice? What is your AFS number?
Now let’s dissect your example:
Originally posted by tony wpb:i have clients that have setteld properties in the past 9mths with a
purchase price of $375K
tenanted at $540/wk
revalued for a LOC at $510KAssuming a 20% deposit, these folks start with:
Deposit of $75k
Debt of $300k
Income of $540 pw GROSS
Repayments (at 7%):
$488 for PI repayment
$404 for IO payment.
So excluding management expenses and loan fees, this appears to be CF+.Assuming 0.5% of capital for annual repairs / expenses and 5% of rent for management, the annual CF is:
negative $575 for PI repayment
$5676 for IO paymentLet’s say they have the property revalued at $510k which enables them to buy one of your:
deals for $395K already tenanted at $680/wkThe situation is now:
Total Current Valuation $905k
Original deposit still $75k
Debt of $695k
Income of $1220 pw GROSS
Repayments (at 7%):
$1132 for PI repayment
$936 for IO payment.
So excluding management expenses and loan fees, this is still CF+.Assuming 0.5% of capital for annual repairs / expenses and 5% of rent for management, the annual CF is:
negative $2446 for PI repayment
$11596 for IO paymentThis raises some questions:
1) Are these folks in a good financial position?
2) How would you rate their current risk level and risk tolerance (out of 10 is fine)?
3) What would be their best strategy in the following scenarios:
. a) An additional 20% capital gain this year?
. b) A 20% capital loss this year?
. c) A rental vacancy of 4 weeks?
. d) An interest rate rise of .50%
. e) a and b?
. f) b and c?
. g) b and d?
. h) any alternate scenario?
I have not a mathemetical bone in my body, so please correct my calculations where appropriate.
Regards,
F.Originally posted by tony wpb:
“cutting part of a sentence to attempt to mock somebody is childish.
I don’t believe I changed the context of your statement.
“i only care about the results for investors. “
The reason i mentioned i only care about results for investors, i should clarify that , i dont care about the comments of a minority , especially someone that has never met myself.Sorry, but this pushes my sceptical button. You are running a business, not a charity.
“Do you use in-house and/or paid valuations? Why?” “Who paid for the valuation figures you have been quoting here?”
the purchaser paid for the valuation to refinance , that statement earlier was not clear , the property revalued at $510K, and it was the borrowers lender that performed the val.
“It has been almost impossible to lose money in RE over the last 5 years. What makes your company so special? The figures on the ‘immigration’ website you sponsor seem to show lower than average CG.”“Michael and Andrea purchased their first investment property in February 2001 in Brunswick for $285,000. The property is now worth $350,000.
The pair purchased their second property in Elsternwick in March 2002 for $350,000 and it is worth $420,000 today.”
Why are you targetting New Australians in this way?
The figures quoted were actually old figures from testimonials, we advertised with the dept. of immigration of which they perform several checks prior to been approved to advertise with them. We have offices in Singapore , Hong Kong and China, hence the ads.Are the $600+ pw rent deals being in any way subsidised for the guarantee period? If not, where do you source these tenants? These are actual rental figures and to find the tenants we advertise.
you do not see or hear of horror stories of dealing with ourselves.
“I have heard a few actually.”
i am sure these are from people that have never dealt with ourselves, and make unfounded comments.
I’m also interested to hear more about the proceedings in the Supreme Court last year, as I have yet to read the transcripts…i do run a business and we do make money , the reason for the supreme court proceeding is that i have a developer that did not pay our commissions owing and he is attempting to use a legal loop hole not to pay.(we sold 31 properties not to be paid 1c, yet our clients still got what was promised)
Sorry to come across as sceptical, but I really am.”Originally posted by tony wpb:
…i challenge anyone to give their clients better deals.There is not a fat chance in hell that anyone could provide better deals …
As you are aware foundation, there was more to this statement than what was simply pasted in your reponse.
Monopoly has also changed my words from rebates to yields.I am simply frustrated that it seems like a game to people on this site to be derogatory and attempt to take people down , with no actual knowledge.
I have underwrite projects and my day to day job is property investing, as somebody that does this everyday , i believe i have a great handle on investing.
I know how to convert -ve to +ve geared property , for a particular demographic. You would immediately say that is impossible, with that same philosophy we should be living in caves, sometimes it does not hurt to listen that way you can learn.
i have done deals with the developer paying the interest on your property (house and land), of which you can claim tax deductions and yet not financing the project with a 2yr build time, with discounts in Newport, vic.or maybe no money down with cashflow +ve properties in East Malvern, vic….or protect your assets utilising trusts over properties that have already settled without stamp duty implications.
i would not claim to play better football than James Hird, although i do love footy . i would be interested in you substantiating your evolution of deals , that are so inventive.
Maybe i misunderstood the purpose of people discussing property/deals…i am happy to share info… but i do get annoyed if i am being tainted.
Please keep an open mind to the possibility that there are peolpe that do deals that have no been done before
Apologies if my quotes mess up as i am not faimliar with the site operations
Monopoly has also changed my words from rebates to yields.I am simply frustrated that it seems like a game to people on this site to be derogatory and attempt to take people down , with no actual knowledge.
As per my previous post:
You Sir, DID NOT specify “rebates” in your post, however I will grant you that nor did you mention the word “yield” hence, for making that assumption I do apologise.How is this taking you down??? [blink]
I’m afraid your post is a tad confusing; it has not clarified things to the point where I really understand your claims. However I will keep an open mind.
Although I would like to think that you will LISTEN if I choose to speak to you directly, as I seem to understand very little of what it is you are trying to put forward.
Cheers,
Jo
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