Thinking of joining a free property investment club and wanting to know if anyone has good or bad news regarding these clubs?
Hi JCB123
Is it really free? Are they suggesting your buy properties that they’re selling? Look at what their motivations are.
Which particular club is it?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Jamie, it is The Investors Club and ae are also talking with "Your Property Club" also.
Apparently alot of the properties the investors club are selling at the moment arent comming in on valuatuion (this doesnt supprise me) my opinion is that they are selling over priced properties.
Havent heard anything bad about "Your Property Club" as yet, wondering if any one else has had dealings with them?Thanks
jcb123
In New Zealand they have some real investor clubs run by investors with no vested interests – nothing to sell – just people helping each other.
Unfortunately there is nothing like that in Australia – the investor clubs here are thinly disguised commercial ventures. That’s a real pity because it would be greta to join one.
jcb123 wrote:Hi Jamie, it is The Investors Club and ae are also talking with "Your Property Club" also.
Apparently alot of the properties the investors club are selling at the moment arent comming in on valuatuion (this doesnt supprise me) my opinion is that they are selling over priced properties.
Havent heard anything bad about "Your Property Club" as yet, wondering if any one else has had dealings with them?Thanks
jcb123
Hi jcb123
I can’t speak for either of them (I’ve never dealt with them) but I have read posts about the Investors Club on either this forum or Somersoft. It would be worthwhile doing a search for these threads and having a read.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
What is your purpose of joining a club? to buy property through them? To network? To get information?
Where are you located? There are other small groups that meet regularly. If you state your city people may be able to offer alternatives.
HI Catalyst, Im mainly thinking of joining a club because we live in country SA and it is hard trying to find like minded people to share ideas with. "Your Property Club" state that they will find a property (mainly new properties) approx 20% below asking price and also state that they have always purchased properties well below bank valuations – they do charge a finding fee of $1995??
We have three investment properties already that have grown 10% per annun in victoria (our home state) and am now wanting to diversify our portfolio and go interstate being either brisbane or sydney. Which is another reason of joining a group or club because we dont know much about these cities.thanks
Have you considered using a buyers agent instead? At least you’ll know they’re working for you. Andrew_A who posts on this forum is based up in QLD – he might be able to help you out.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Thanks Jamie, I will certainly try and make contact with Andrew_A – does anyone know what sort of commission a buyers agent would charge??.
My understanding is that some charge a fixed rate whilst others base it on a percentage of the sale price – so it may come down to how much you’re looking to spend.
All the best with it
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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