So why don’t you part with some cash and put your money where your mouth is – JOIN UP!!!!
Robert Bou-Hamdan
Mortgage AdviserGoing to next Mondays meeting with another investor for interests sake and looking forward to it.
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorRobert, why pay them when i can do it myself.
In their latest newsletter they say they have sold 9000 properties through the club, they must be doing something right.
It also seems that there r not to many complaints as people r not pressured (correct me ???) to purchase. Their business concept is interesting.
I also believe that they have 60,000 members, thats a good following in any language.
I have read Kevin Young’s new book – mainly seeking more information on the living on equity angle. I must say it is a very disappointing book. There is a bit of history about Kevin Young. but not much on their strategies.
I think more information is available within their free monthly newsletters.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terry i don’t think they have any stratagies.
They buy direct from developers mark the property up kick back a club member for the referral and wooska!! … next plesae, no brainer don’t you think.
Secondly Kevin doesn’t look too bright to write an exciting book … opps!! … i will send him a copy of mine that will b a good laugh.
resi
I just think it is a well named real estate agency that holds a lot of seminars to attract a membership base and provides other services like finance and planning. I am yet to see any evidence to the contrary.
I am interested in seeing how many members have actually bought property through them. I bet they have properties in all the usual ‘spruiker sold’ areas.
Robert Bou-Hamdan
Mortgage AdviserA couple of clarifying points;
The latest newsletter refers to total purchases of ‘just over 7000 properties’ – certainly not 9000.
Strategy is not rocket science – just proven over a long period of time. Given 30% of members are repeat purchasers something must be working. One of the strengths, from a members perspective, is the multi faceted services provided for members. These services are provided without obligation and people are free to use their own banks, solicitors etc
The Investors Club doesn’t mark up prices – anyone at the ‘what shall I buy stage’ has free access to the Club stocklist 24 hours per day and has ample opoprtunity to use any real estate website to compare prices. There is absolutely no pressure – which, for some people, is hard to reconcile as some do want that nudge to get them going.
And finally to Rob, I wonder if your ‘bagging’ has anything to do with the rejection you got from The Club when you expressed a wish to become one of our recognised brokers and the subsequent rejection I sent you in an email around the end of Feb/early March of 2005.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958Originally posted by Derek:And finally to Rob, I wonder if your ‘bagging’ has anything to do with the rejection you got from The Club when you expressed a wish to become one of our recognised brokers and the subsequent rejection I sent you in an email around the end of Feb/early March of 2005.
Derek, not at all. I don’t even remember making an application to become a “recognised broker” with anyone. However, I do regularly send out link exchange requests to various websites to promote my own. I would be interested in seeing this request and subsequent “rejection” you speak of. You obviously have my email address.
As for ‘bagging’, I am just seeking information about the organisation like anyone else. I appreciate being singled out though.
Robert Bou-Hamdan
Mortgage AdviserBy the way Derek, maybe you should update some information and add comparison rates. It is against the law to advertise incorrect interest rates and information and not provide comparison rates.
https://www.theinvestorsclub.com.au/MortgageClub/Products.htm
Robert Bou-Hamdan
Mortgage AdviserOK here it goes…I bought my first property throught the investors club almost 5 years ago now, and despite a boom over the past 5 years. I paid 315K for it then and had a valuation done around 3 months ago and it’s worth… wait for it…only 300K now..Hope this helps.
Ouch?
[
]So you are not a fan Christobell, other than your IP’s value heading south what did you think of the club and the process?
Where the heck did you buy..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI have looked at some of the club properties and found them to be in all the usual ‘spruiker’ taunts.
This comment from Derek is also a bit misleading: “The Investors Club doesn’t mark up prices”.
No ‘real estate agent’ selling off-the-plan or new properties marks up prices. They just get a chunky commission on the sale of the property.
Robert Bou-Hamdan
Mortgage AdviserBought in Alexandria..Sydney when I knew very little about property investing..I trusted my support manager.(the person that guides you and gets commission on what you buy from the club) That was the worst mistake of my life.
I must guess that it was a Meriton or Meriton style multi-unit development with lots of lifts, swimming pool, gym, etc… Huge strata rates apply and the odd special levy is required to a decreasing asset.
These things are so bad to buy in areas being over-developed like Sydney, Brisbane and Melbourne.
Some non-conforming lenders won’t touch buildings that have a lift in them. This gives a good indication of what to steer clear of.
At least you learned a good lesson. I was lucky with the one I bought in 98 as I sold it in 99 before they all started being released in the city.
Robert Bou-Hamdan
Mortgage AdviserChristobell … did the “support manager” disclose the commission to you, and what were the total commissions paid to the club from your settlement dispersements.
Robert, yes lifts r a major problem but also meriton has been under pressure form the Fire Control Council reguralators.
I would not like to pay for the painting in 10 years when some of these buildings need a fresh up. I personally like exposed brick for lower maintainence expenses over time.
resi
Robert..yes it was a Meriton syle complex although not built by Meriton..lifts, pools and all the bells and whistles with hugh body corp levies..and yes I did learn a valuable lesson, never to buy into this kind of complex and never to buy from the I.C. again.
Resi..No commission was disclosed to me, either the support members or the Clubs.christobell,
It might have been better if you sold that property at the peak of the boom, when all properties were pretty much being snapped up… many properties have decreased substantially since then- I know people who are so sorry they didn’t sell 18 months ago- sometimes ya just godda go with the boom. Even a property bought five years ago needs to have a plan- think “exit strategy”.
kay henry
Kay, are we forgetting something???
Core principle behind The Investors Club plan number 4:
Never, never sell.
Robert Bou-Hamdan
Mortgage AdviserTMA..
Maybe we need to *revalue* Christobells IP in 10 yrs time then?[biggrin]
I always remember that you make your profit when you purchase….apart from when you never never sell, then the price you pay isnt as important (read Jan’s book)
Glad i’m not involved on the rollercoaster ride over there and live in WA..
REDWING“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI consider WA as one of the more stable States.
Robert Bou-Hamdan
Mortgage Adviser
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