Went to see a CWB consultant and was on the end of a very smooth sell. The system they have running is backed up by a lot of promises of discounts and assurances. I was hoping to get some sort of response from people that have actually participated in their program or know of people that have. I’ve read the threads on this forum about peoples opinions but not from people with 1st hand expereince.
Regards,
Hi John, I was looking at investing with CWB, went to see one of their properties in the interests of finding out as much as I could, stopped just short of buying it having decided I could do better myself without their fee. If that level of ‘participation’ is any help to you, reply and I’ll post some more details.
Are you saying that the 3% they charge and the cost of the property was too much to pay?
They have been around for many years – which is not too common in the property industry, so they must not be too bad. But you can probably go it alone and save some money.
Terryw
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Yes. For me. The ~$10000 basically gets you research on what they think is the best area to invest in and a guarantee on building time. Most of the rest you can get from builders anyway, for similar or lower cost, depending on how much you’re willing to shop around. And after the time I’d spent checking up on their research to see if they had done it to my satisfaction (and I did disagree with a couple of points), I realised I’d done it myself, and it didn’t take very long. So I decided that I’d rather spend a couple of hours of my time and allow some money for a possible blowout in building time or delay finding a tenant than spend $10000 up-front.
If you want a negative geared investment but don’t want to put any of your own time in, by all means go with CWB. However there are a lot of other options, depending on how much of your own time you want to spend. The more time you put in, the more money you will make – you will find your $/hour much better than your current job [biggrin]
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