Viewing 16 posts - 1 through 16 (of 16 total)
  • Profile photo of BrokotaBrokota
    Participant
    @brokota
    Join Date: 2012
    Post Count: 15

    Hello All,

    Has anyone had any dealings with Nathan Birch’s Deal Finder, good, bad or otherwise, just seeing what people think before maybe signing up.

    Thanks

    Profile photo of FreckleFreckle
    Blocked
    @freckle
    Join Date: 2012
    Post Count: 1,681

    Nathan and I don’t see eye to eye on a few things (philosophical mainly) a bit over the top for me but I’d rate him as an honest ethical young guy who’ll do his best to try an help you. Up to you if you think what he offers is value for money for your situation.

    Profile photo of EngeloRumoraEngeloRumora
    Participant
    @engelorumora
    Join Date: 2010
    Post Count: 618

    Deal Finder is a great tool for finding properties in Australia. All properties sent to the database show great yields with equity potential.

    Engelo

    EngeloRumora | Ohio Cashflow
    http://ohiocashflow.com/
    Email Me | Phone Me

    "Make a PASSION an OBSESSION and you'll never work a day in your life"

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    We've shared mutual clients and all have been happy.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of LeonRLeonR
    Member
    @leonr
    Join Date: 2012
    Post Count: 10

    I am <u>not</u> writing this to knock Nathan Birch, as I do admire what he and his team have achieved in such a short time.

    From Nathan's Binvested facebook site, a few comments made by some of his clients:

    •  "in the last 12 months we have purchased another 7 properties, and will be shortly settling on another 4."
    •  "We now have 3 properties – settled; another 3 will be settling in a few weeks; and hopefully 4 more in a few months time. It's been a HUGE learning curve for both my husband and myself, both exciting and scary at the speed everything is happening!"
    • "In just 8 months, I have managed to build an investment portfolio consisting of 8 properties worth over $2 million dollars yielding 8.9%."

    I guess that $200k could give you a property portfolio worth about $1 million, but with it comes a $800k loan.
    The 8.9% yield mentioned above is impressive, but after all the expenses are paid that rental net yield is more likely to be around the 5.5% to 6%? Maybe a bit higher if depreciation, tax deductions are allowed.

    What I do not understand is, isn't it dangerous to have so many properties carrying such large loans? Especially when considering the current world's economic situation?

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    LeonR wrote:

    What I do not understand is, isn't it dangerous to have so many properties carrying such large loans? Especially when considering the current world's economic situation?

    Hi Leon

    I guess it comes down to different strokes for different folks.

    Some have a higher appetite for risk than others. There's no right or wrong answer/approach – it all comes down to what the individual is aiming to accomplish and the risks their willing to take.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of CatalystCatalyst
    Participant
    @catalyst
    Join Date: 2008
    Post Count: 1,404
    LeonR wrote:
    I am not writing this to knock Nathan Birch, as I do admire what he and his team have achieved in such a short time.

    I guess that $200k could give you a property portfolio worth about $1 million, but with it comes a $800k loan.

    The 8.9% yield mentioned above is impressive, but after all the expenses are paid that rental net yield is more likely to be around the 5.5% to 6%? Maybe a bit higher if depreciation, tax deductions are allowed.

    What I do not understand is, isn't it dangerous to have so many properties carrying such large loans? Especially when considering the current world's economic situation

    You are making wild assumptions. Knowing the types of properties Nathan buys his clients would not have a $1m portfolio with $800K loans. He typically buys under market and with reno there is built in equity.

    I can't believe you are criticizing 8.9% yield. If you can do better, go for it.  Most people are ecstatic to get 7%. A net yield of 6% is cash flow neutral. Nothing to sneeze at (especially if you have built in equity and CG potential). I'll take a few of those.

    As you said- you don't understand so why criticise?

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    Hi Leon

    If you buy well (ie negotiate a great discount) and then make some improvements to the property (ideally with borrowed money) you can increase the rent.  The end result is a higher rental yield than you would have gotten if you just rented out as is (presuming you've played your cards correctly).  So at this point you get the bank to revalue the property and surprise surprise, it is worth more than it was when you started.  So in a nutshell, you've manufactured capital growth.  Fashioned money out of thin air.  So you can refinance… pulling out the equity to use as a deposit on the next place.  Rinse and repeat.

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,010

    I agree with Jac and that's how i started back in the mid 90's (although admit we owned 5 IP's unencumbered from Day 1 and that helped with the repayments).

    When you get to a level where the rental income is healthy enough and assuming you  have no non deductible debt nothing wrong with  paying down the debt as quickly as possible and eventually living off the rental income.

    A combination of rental increases, interest rates falling and a improved equity certainly helps although when the market doesn't do this for you try and create it youself.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Nath_simonsonNath_simonson
    Participant
    @nath_simonson
    Join Date: 2011
    Post Count: 2

    BE VERY CAREFUL IF YOU ARE THINKING OF DEALING WITH BEINVESTED

    My partner and I got stung bad by Nathan and Daniel. We started off with their map session which we thought was informative but we didn’t think it was worth the $300 fee.
    We then proceeded to use their buyer’s agent service. We paid $10,000 for this service and was offered a 3 bedroom townhouse in Nerang on the Gold Coast. We were sent a spreadsheet with all the figures and numbers, it all added up to be positive by $6 a week. There was a discrepancy with the rent that they thought the property could achieve. The property was currently tenanted at $280 p/w but Nathan had said that it should be rented out for $300-$310. We questioned Nathan on this and his answer was that the tenant had been in there for a number of years and the rent hadn’t been increased but assured me that $300 a week was achievable because he had properties on the same complex for the same rent.

    We proceeded with the purchase and Nathan’s property management service blink property was supposed to take over the property. This was an ordeal to say the least! We spoke to the property manager who was taking over the property once before settlement and where assured that it would all be taken care of, this was the last time we heard from her. After making dozens of calls around settlement time, she was in contactable. It got to the point where the current property managers where calling us to come pick up the paperwork and collect the rent that had kept coming through because they couldn’t get in contact with Blink Property either. So in the end the property just stayed with original property managers.

    After about six months we went through all the bills for the property because things just weren’t adding up. After doing the sums it turns out that the property is negative by $65.50 p/w and the most we can get for rent is $290. We have had the property revalued a year after we purchased it and the property is worth less than what we paid for it.

    We are as much to blame as anyone, we should have double checked the figures and not just relied on the misleading information that was feed to us. Nathan clearly doesn’t stay true to his “strategy” that he preaches to of buying positive property that’s below market value. He is quite happy to take your money and make things look good on paper to get you to do the deal. All I want to say if you are going to deal with binvested make sure you know what you are getting yourself into before your start handing over cash and singing contract. Research is key and we made the mistake of not doing ours and we are paying for it now. Just because you pay a buyer’s agent a large sum of money doesn’t mean you’re are automatically just going to get the best deal. If you want something done properly than you are best of doing it yourself!

    • This reply was modified 4 years, 9 months ago by Profile photo of Nath_simonson Nath_simonson.
    Profile photo of New InvestorNew Investor
    Participant
    @dlee123
    Join Date: 2016
    Post Count: 2

    Thats interesting feedback Nath, how are you finding things with this investment property now, did you make a gain and did Binvested get you good value?

    I am considering engaging them myself however seems like i might just use their principles and source my own properties.

    Profile photo of StoreybuilderStoreybuilder
    Participant
    @storeybuilder
    Join Date: 2016
    Post Count: 45

    Hi Leon
    If you buy well (ie negotiate a great discount) and then make some improvements to the property (ideally with borrowed money) you can increase the rent. The end result is a higher rental yield than you would have gotten if you just rented out as is (presuming you’ve played your cards correctly). So at this point you get the bank to revalue the property and surprise surprise, it is worth more than it was when you started. So in a nutshell, you’ve manufactured capital growth. Fashioned money out of thin air. So you can refinance… pulling out the equity to use as a deposit on the next place. Rinse and repeat.

    That in summary is the Peter Spann leapfrog strategy. Feels a bit like the fitness fashion industry, bring back parachute tracksuit sand tai bo under a different name eh?

    Profile photo of StoreybuilderStoreybuilder
    Participant
    @storeybuilder
    Join Date: 2016
    Post Count: 45

    He does have some good fun easy to understand you tube videos for beginners. Like many though I don’t know that I’d get the value out of any paid educational stuff if he even offers that. Sounds like he’s more targeted to making deals.

    Profile photo of EngeloRumoraEngeloRumora
    Participant
    @engelorumora
    Join Date: 2010
    Post Count: 618

    I have known Nathan on a personal level for years now and actually worked with him while Binvested was still in its infancy stages. I can comfortably say that even behind the scenes, Nathan genuinely cares about everyone’s success.

    The operation he runs isn’t a money pinching gimmick and I think that his results speak for themselves.

    His timing and strategy have been spot on now for 10+ years.

    Thanks and much success

    EngeloRumora | Ohio Cashflow
    http://ohiocashflow.com/
    Email Me | Phone Me

    "Make a PASSION an OBSESSION and you'll never work a day in your life"

    Profile photo of New InvestorNew Investor
    Participant
    @dlee123
    Join Date: 2016
    Post Count: 2

    Thanks for the feedback Engelo

    Profile photo of TheEsteemedOneTheEsteemedOne
    Participant
    @theesteemedone
    Join Date: 2005
    Post Count: 12

    Be very careful with Nathan Birch. Too much confidence with false statements. A clear example is this recent video of his of property development which has a number of false statements:

    The address is 40 Sunrise Boulevard Surfers Paradise QLD. He states he can rent these properties easily at $400 per week whereas he is struggleing to rent them out at $350 per week. He will most likely rent them at around $300 per week.

    That gives the return on property at the following at around 4.7%. You can get this rate of return anywhere better.

    Rent $600 x 52 weeks = $31,200 divide by purchase price $622,000 plus renovation of $40,000.

    Onwards he claims he has DA approved on the site. There is no DA approved desite holding it for already 18months and I doubt he will be able to get it approved for 16 units. Check the Gold Coast City Council on DA applications for this address. None have ever been submitted. It is too small a block with very few new builds on this island. Also why would he be trying to rent them out if he is about to get DA approval….

    You could say it is a landbanking option but that is it and I’d say given the location he will be landbanking this before approval for about 25 years…There are many other examples of this. He makes money on the buying agency and fleecing off the niave buyers. Buyer beware.

    Also check out this motel he bought in Wentworth Falls:

    https://www.expedia.com.au/Blue-Mountains-Hotels-Rest-Easy-Motel.h21182564.Hotel-Information

    and promoting here as a great buy:

    https://www.dailytelegraph.com.au/realestate/nathan-birch-owns-200-properties-after-buying-18-at-the-start-of-this-year/news-story/686a64e695bf5a4f592ebe55e48c5d5c

    What a shocker. Terrible reviews on tripadvisor and full of drug addicts. It is a total dump. I wouldn’t recommended trusting him as a buying agent. Caveat emptor and invest wisely.

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