在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m
Just wondering if anyone on the forum has had experience with this company and its education programme.
Is it of any value for the price?
I have been to a couple of their info evenings and found them very interesting. They apparently want people to pay them to be on there preferred list. This they say will give you priority access to the best deals. From what I have seen they are mainly older properties way out in the sticks with high rental returns but as they say "below market valuation". I would be concerned about the CG potential, but I have not really investigated any.
Personally I prefer to do my own homework and there is more information on somersoft than any mentor could give. And its free.
Unfortunately Phil, i do not have your experience. Which i'm sure everybody started out the same.
The price is a bit steep 9k though. Similar price you pay for a buyer's agent. And there you learn little.
Everything in property investing is on google or in this forum... it's just a matter of time and going through all of them... then jump.
peastman said: ↑
but as they say "below market valuation".Click to expand...so... why are the vendors being so generous?
jimmijamz said: ↑
The price is a bit steep 9k though.Click to expand...jimmijamz
That one sentence says it all!!! That's nine thousand dollars less that you will have working for you!!! Think of how long you had to work to earn this amount after tax.
You will learn much more from browsing the forum and reading as much as you can get your hands on. Try the following link for some suggested reading:
LynnH said: ↑
jimmijamzWould i be naive to reply... speed of learning? avoiding mistakes if possible, having guidance (at a steep price)... but then again... lots of people also use buyer's agents at a similar price (which they learn little?) buying one property and using the agents again to buy the 2nd.
That one sentence says it all!!! That's nine thousand dollars less that you will have working for you!!! Think of how long you had to work to earn this amount after tax.Click to expand...
Have you worked out a strategy for buying IPs yet? Do you want CF+ (if you can find it)? Or are you going to utilize negative gearing? Do you want to invest in near city or country IPs? Are you looking at buying close to where you live or interstate?
And do you really know that what they are trying to sell (i.e. older properties out in the sticks, according to what Peastman has ascertained) is going to fit into your overall plan?
No harm in using a buyers' agent - I know of a number of people who do this for interstate purchases - but I think you should do your DD first. IMHO, $9K is a lot of money to pay to have someone 'teach' you something which may not suit your investing style/strategy.
Use a good buyers agent !
I feel education is worthwhile, but you will possibly get more immediate value from spending that sort of money on a good BA
I've offered my thoughts on this group in two previous threads, as have a few other people:
I don't think that I have much more to add. As always, think about it very carefully; $9k ain't exactly small change for most of us.
It's $9k paid for the convenience of not having to any work yourself.
And you don't know whether the property you buy is really below market unless you do some research to find out.
So....you may as well do the research anyway and save $9k.
If your hourly rate at work is so enormous that it's cheaper for you to pay them than to spend time doing it yourself, then go ahead.
I went to their free seminar in Brisbane last night and was very impressed. Most of it I had heard already, but it was good to hear it again for some motivation..
For example, I'd heard about cross collatorising (securitisation) but wasn't sure what it was - they easily explained it in 2mins.
Buying property interstate reduces your land tax bill and diversifies your portfolio - handy for a few reasons.
Also the importance of knowing when you've accumulated enough IP's - it could more usefull selling down properties (keeping CG tax in mind), reducing your LVR, thus increasing your rental income.. you may be able to retire earlier than you think?
I can recommend other newbies to go along and learn some of the basics as there is no hard sales pitch at all. He also gives his forecast on the market.. a lot of good where, how and why's.
4 years late
jimmijamz said: ↑
Just wondering if anyone on the forum has had experience with this company and its education programme.Hi, i receive regular e-mails from them, the last one was about property in Newcastle which they claim a 47% growth happened there the last year..."ABSOLUTE RUBBISH....", i m an investor myself and i bought 2 properties in Newcastle in 08/09 for about $300000 and 4 years later they are worth about $325000.
Is it of any value for the price?Click to expand...
When i questioned them i never got a response.... DONT TRUST THEM