Flicking through the Saturday paper (Brisbane) I came across an ad saying that they sell positive cashflow property. Gave them a call and was quite astonished what they had to offer.
I am still thinking how is it possible, they sent me heaps of stuff and am now checking them out.
Did anybody else see the ad or follow it up?
head above water
Afloat
Hi Afloat,
Didn’t see the ad. (I’m in Vic), but I have seen many ads from companies advertising cash flow+ deals, especially in investment mags.
Just make sure you check everything, and get your own independent legal advice.
Hope it all works out for you,
Cheers
Sue [cap]“Be careful not to step on the flowers when you’re reaching for the stars”
Perhaps tell us what the property group is called. I’m sure someone from here has probably delt with them before.
As diclem suggested check out everything, and don’t sign anything!!! Also alot of the time property resellers won’t put vacancy factors in (so vacancy will equal 0%) to make a deal seem CF+.
Rgds.
Lucifer_auYou also need to factor in their finders fees in some cases, which turn them back into Negative geared for 1-2 years !! depending on the fee !!!
Afloat, did they have a website at all ?? Am interested in seeing what they had, but am based in Asia…..[blush2]
Cheers
Scott
I looked at a site yesterday and was astonished at the fees.One of the finders fees was $8995.
What gets me is people are paying these fees because these businesses are alive and thriving.
I think some investors have more money than brains.
Russ.I have been going over all the details with my number cruncher, legal eagle and mortgage broker.
You purchase the first property with either cash, LOC, equity loan or family/friends.
What you get for the purchase price is – the property, renovation, solicitors work, their commission. The property still comes in +ve c/f of about $40/ wk. You have full title/ control just as if it was your own home or any property you purchase.
They then ask you how many properties you would like to have in your portfolio using their system which is –
take 80% finance against the first property (which was bought at at least 20% below FMV, then renovated and tenanted. This equals the purchase price of the second property. So the purchase of your second property includes the property, renovation, solicitors and their commission.
First property buy price approx $80K – revalued $100K
Second property buy price approx $80K – borrow $80K against the first property . Revalue second property $100K
Third property buy price approx $80K – borrow $80K against the second property . Revalue third property $100K
and on it goes till you say stop – I’ve got enough!!!
Their total package includes port folio management, placing of property managers, and finding mortgages for second/third properties etc. They say there are no additional fees for this service/ it is all built into the purchase price of each property.
They claim to be selling 180 properties per month, over 2000 existing clients and have been in this business for 16 years.
The company ( Inter Global Connections )has no website and if anyone else would like more information give me a PM.
Tell me please if I am missing something
head above water
Afloat
Do they tell you the towns the porperties are in so you can do your own due diligence?
You can do all of that and more yourself and you will save on their fees that they will charge you.
Dom[sleepyanim]All the properties are in Manchester, UK – pop 4.2 mil. Capital growth is good and the demand for rental property seems constant, mostly working class types.
(I’ve been talking with family overnite who live in Lancashire)
We are doing searches on the UK company now, so far they haven’t had anything to hide, all my q’s have been answered.I would be very sceptical about this.When there is a middle man there are always fees.
Why dont you just do it all yourself and then when things go wrong AS THEY USUALLY DO with these sort of companies you will at least know what you did.
When you deal with people who are offering too much for so little then you gotta start seeing red lights my friend.
IMHO leave it alone.Get off your butt and do it yourself.
Russ.There are a couple of UK forums like singingpig and housemouse which might have information on this company.
As a sceptic I wonder if this investment is so good why they need to advertise it on the other side of the world
Argh the good ol sceptics, the world is full of them.
I am always looking at opportunities with an open mind. Just like property, borders and boundaries seem to hold soooo many people back. I know that they are just getting beyond their comfort zone.
Imagine if more people investigated opportunities before dismissing them!?! Yes, there are scams and hawks out there but after you have been in business for a while you get to know hay from chaff.
I shall keep you posted as to my DD on this mob. It is only costing time at the moment.
Russ H – what sort of company do you know this mob to be . If you have something on them could you please let me know – share some info on this crowd that I have not been able to uncover as yet, thanks.
head above water
Afloat
Ahhhhhhhhh
Where’s Bec when you need her see.[baaa]
Afloat,
Presume any legal arguments would have to be taken up in the UK ?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorOriginally posted by RussH:I would be very sceptical about this.When there is a middle man there are always fees.
Why dont you just do it all yourself and then when things go wrong AS THEY USUALLY DO with these sort of companies you will at least know what you did.Russ.
Gee Russ – some very sweeping statements there. You must have been burnt by a large number of companies to make this statement with such confidence.
By all means be wary of groups and companies who put their interests before yours but not every group/company does this.
Disclaimer applies.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Russ,
Aren’t you a “middle man”? You don’t wanna do yourself out of business :o)
kay henry
Soooo much can happen in a day/week.
I’ve got this between the short and curlys and am off!!! I’m armed with list and I’m off to the other side of this planet.
Fly out Sat nite and will be spending 3 weeks on the land of cool. Back on another plane! Go and do more digging!Yes, Russ I’m getting off my butt again!
head above water
Afloat
it isnt necessarily about doing anyone out of business or being negative, or whatever,
If you ask the members here, you can take it and run with the advice or disregard it, that is your choice. We all have opinions.
Many investors on here, may not have been burtn, but may have seen others burtn by mobs, or compnaies or the odd individual that takes people for a ride, and dumps em, if you do your due diligence on the company an directors concerned and maybe do your own reseasch (everyone has a price and nothing is free) you coould well find your own stuff.
If you have no time and you like these people then you can deal with them. Call my cyncical, but there is always a catch
” a blind man may see what a sighted man may not”
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