Posts in the Overseas Deals Forum

Don’t the words “professional” and “paid” mean much the same thing? And if they don’t what would be wrong with having a professional unpaid adviser ie if one’s uncle was a tax specialist but chose not to charge his niece/nephew for the advise he rendered would it be any less worthwhile?
Julian2

Hi admin,

Shouldn’t this ‘disclaimer’ post be a sticky?

Derek
[email protected]

Property Investment Support Available.

Mini, I disagree with everything you just said. How is an “Investor” supposed to make their investments “fruitful” if they don’t know what is out there???

Following the sheep will only lead you to the slaughter house. Most unsophisticated investors are followers!

I have one policy I try to stick to… if everyone else is doing it, I DON’T!!!

_____________________________________________
[withstupid]
The forumite formally known as Big Rob

I consult professionals such as solicitors and accountants and financial planners when I need their advice.

If I want a property, I go to real estate agents. I certainly don’t depend on people who call themselves “bird dogs” unless they hold a qualification to do what they do.

I also do a LOT of research and learn things I am interested in or contact the source and discuss the ins and outs with them before I consider what position I may want to take.

Regarding making my decision, I do that myself. All I seek from professionals is information. If I make a mistake based on the information I collected, I cannot blame anyone else.

The ‘sheep’ don’t usually consult any professionals. They do things that they read in a paper or on a property website or a friend or unqualified person told them.

_____________________________________________
[withstupid]
The forumite formally known as Big Rob

“I certainly don’t depend on people who call themselves “bird dogs” unless they hold a qualification to do what they do.”

“If I want a property, I go to real estate agents. I certainly don’t depend on people who call themselves “bird dogs” unless they hold a qualification to do what they do.”

>Some of my best deals have come from people who were “unqualified” like a deal that returns 155% CoCR/ 13%Gross. I’ve got another two going through someone who is totally and utterly unqualified and my return on those will be $300 per week positive cashflow, for perhaps under $12K down.

” I consult professionals such as solicitors and accountants and financial planners”

>And when investing in property when do you go to get advice from a financial planner? They know nothing about property… Actually they do know one thing, they know they don’t get a commission for any advice (because they haven’t sold you anything).

“Following the sheep will only lead you to the slaughter house. Most unsophisticated investors are followers!”

>In most other investments there are allot more sheep. The salesmen (aka financial planners) learn it at the training and then regurgitate to consumers who blindly follow their advice.

>And really what do most lawyers, accountants and building inspectors know about property investing? Most know nothing because they don’t own any property and those that do usually own one or two (or perhaps even three) properties.

>Being qualified doesn’t mean your good, or you have a better ‘understanding’, all it means is you’ve taken a course and done enough to qualifiy.

Rgds.
Lucifer_au

Lucifer, I agree with everything you say.

I have actually also used a bird dog myself in Australia to purchase a property in an area I was unfamiliar with. He wasn’t “qualified” then,
except by being a millionaire property investor who specialised in a particular area I wanted to buy in. (but that’s not a ‘qualification’ by whasshisface’s definition of course) – and besides it’s unseemly to talk about how much money we have other than behind closed doors with other investors – certainly not online!

but anyway, he is these days a ‘qualified’ financial planner. I think it took him 2 weeks and 10k to get the qualification. He did it (I believe) because there are quite a few people out there that are impressed by qualifications and it puts their fears to rest. *whispers and points to the corner*

However I have to say that if I used this guy qualified or not, I would be sussing the local market knowledge, not the qualification.

He didn’t actually broker a deal as such for me, I put a contract on the property directly, but basically I leveraged off his inside knowledge of what was happening in the area, tradespeople at a discount who work on his portfolio, his vast amount of research which I went to see when we met up (and spent an entire day together) – not to mention an indepth knowledge of rents, costs, prices in the actual street and in the actual block I was buying in.

Priceless.
As a bird dog myself that is the sort of thing I am trying to offer to my clients. I keep a constant look out for any articles on any of the towns and look out for things like ‘factory set to expand, opens in 2007 with 500 new jobs’ and I clip that out, and (for example) go check it out and (to cut a long story short) then immediately go try and find some CF+ve deals there, and include the new announcement with the deal, that kind of thing.

I can’t see that any qualification would make any difference, it’s just putting two and two together and providing documentary evidence of the two and the two. The decision is still the investor’s of course.

Anyway, how did I get here, and what’s my name again? And what were we discussing?

NZ Investor and Bird Dog

[biggrin][biggrin][biggrin][biggrin]

Like IP? I love it.

“I am involved in the medical profession and I can garatee you that I would not just go to anyone who has got a medical degrre if it was my health on the line. I would go to the best in that particular area wether it be a neuro surgeon or a hand surgeon or why not a reumatologist compared to a neurologist. My point being, don’t be blinded by a degree that does not necessarily guarantee their expertice in the area you need advice”

I absolutely agree with Jonus. I have had mistakes made by both my solicitor and accountant over searches and tax returns. Even though they are both qualified & experienced in their fields their knowledge is broad and my needs are specific. It doesn’t hurt to consult the hard core resources yourself before signing off to accept their work. At the end of the day a qualification meand you know where to find the answers, it doesn’t necessarily mean you made the effort to find them in every instance.

some bird dogs better than others!

I have offered a few thousand dollars to a local in an area that interests me, if he brought me something that I landed up buying. Since he lives in the area, he is “undercover”, so to speak, and I have been getting apprised of opportunities that are not on the public market. This is working for me, in conjunction with in depth study of the comps for the area, particularly the closed sales in past 6 months. Most realtors just present you with what is in the MLS, which is now publically accessible (in the States)

[aacool] feeling after getting presented an early look
[angry2] feeling after realizing seller is priced too high, and won’t budge

Hi,

I’m new to looking at NZ property. Can anyone tell me any good professionals in Dunedin or Christchurch they have used?

– property managers
– mortgage brokers
– settlement agents
– building inspectors
– pest inspectors

Thanks.