All Topics / Help Needed! / property investment company

Viewing 13 posts - 1 through 13 (of 13 total)
  • Profile photo of julloumarjulloumar
    Participant
    @julloumar
    Join Date: 2009
    Post Count: 6

    Hi, looking at investing through a Investors Choice Group. Has anyone had any dealings with this company?

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

    I haven’t heard of them – but there are hundreds of one stop shops opening up. What do they do? How much does it cost?

    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 37propertygroup37propertygroup
    Participant
    @37propertygroup
    Join Date: 2014
    Post Count: 2

    Never heard of them before. My advice would be to find out whether they work for clients or sell for developers. If they work for clients then they charge you a fee. Definitely finding how their fees work is very important.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    If it the same Investors Choice as the one based at Logan and on the Gold Coast then it appears they make their money by receiving hefty referral fees from developer, builders etc.

    As 37PG mentioned finding out how an organisation works and who pays them is important.

    For example we don’t hide behind the fact that for Sourcing a property for a forum client as a Buyers Agent we charge the client a fee however for our Broking and loan structuring services we are remunerated by the lenders we deal with.

    Looking thru the level of experience of the Directors it does not look appear they have too many years in property, finance, tax or accounting between them or own too many properties.

    Cheers

    Yours in Finance

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

    0-40 Properties in a decade with an unencumbered value of over $35M. Email for a copy of my API article

    Profile photo of julloumarjulloumar
    Participant
    @julloumar
    Join Date: 2009
    Post Count: 6

    Thanks everyone for your feedback. We have met with a consultant & they have been upfront about how they make their money – via builders / supplier of the property. We have a meeting next week with a financial advisor & will have more information looking at our specific financial details & consider our options. I will post again after that.

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

    Hi julloumar

    Are you seeing a financial planner or a mortgage broker?

    Is this person affiliated with the property investing company?

    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 julloumarjulloumar
    Participant
    @julloumar
    Join Date: 2009
    Post Count: 6

    Yes they are affiliated, mortgage broker.

    Profile photo of jmsracheljmsrachel
    Participant
    @jmsrachel
    Join Date: 2012
    Post Count: 711

    Yes they are affiliated, mortgage broker.

    Oh no! This will end in tears. Be careful.

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    Be wary of affiliated brokers, as there have been many cases of the developers/brokers/conveyancers etc stitching up the buyer by skimming over issues (poor valuations, trying to stop clients exiting OTP contracts using sunset clauses etc).

    It is much more beneficial that you enlist the help of independent advisors who’s interest is in serving you, not the parent/affiliate company.

    • This reply was modified 8 years, 6 months ago by Profile photo of Corey Batt Corey Batt.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    No there won’t be any tears he will tell you can afford it and direct you straight back to Investors Choice.

    Also remember he is not a Financial Adviser unless he is licences. Big difference between a Financial Adviser / Planner and a Mortgage Broker.

    Who is it you are seeing?

    Cheers

    Yours in Finance

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

    0-40 Properties in a decade with an unencumbered value of over $35M. Email for a copy of my API article

    Profile photo of julloumarjulloumar
    Participant
    @julloumar
    Join Date: 2009
    Post Count: 6

    Richard I have sent you details in private message.

    Profile photo of jmsracheljmsrachel
    Participant
    @jmsrachel
    Join Date: 2012
    Post Count: 711

    The tears will come when you find out the valuation has come in $30k under purchase price.

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

    Yes they are affiliated, mortgage broker.

    Ok.

    If you’re keen on proceeding with the purchase – at least appoint your own finance person and solicitor. This way, you’ll avoid some conflicts of interest. It’s good you’ve contacted Richard – he won’t stuff you around.

    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]

Viewing 13 posts - 1 through 13 (of 13 total)

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