hi has anyone bought properties through the investors club in Queensland or Melbourne. I spoke to a real estate saleperson who said that the properties are over priced from the club.
anyone advise?[fez]
He is correct and I should know they sold all off the properties we developed for a 8 year period.
Try a search on the forum here and you will read many posts about Mr Young and his organisation.
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Richard Taylor
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Licensed Financial Planner. Ph: 07 3720 1888
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I had a negative experience with these guys. After putting in an offer on one of their properties, the bank valued the property far below what they said it was worth. This confirmed what alot of friends were telling me that they sold overpriced and poor quality properties.
I was lucky, due to a subject to bank finance clause so was able to walk away.[angry2]
Well I joined the club last year to see what all the fuss was about … after 3 visits i did an A&L so i could get access to the stock list.
The finance broker gave us a max lend of 1.8 million dollars … we heard nothing from the club for 6 weeks. I rang the finance broker and complained about the lack of service.
We then got a call from the support member who gave me a login number so i could view the stock.
Yes i can confirm that their stock is nothing special … i asked the support member why he thought the stock represented good value and investment potential.
All he kept saying was that the club has thoroughly researched the property which represented a peace of mind purchasing decission.
Go figure ???
From a business point of view they have sold 6000 properties in 9 years and at 10k nett per property …. well work it out your self.
You also can’t argue that they have a good concept for people getting together on a regurlar basis and a bigger membership than here.
If Mr Young got his act together he could double his orginisation over night – it’s a bit stale and needs refreshing IMHO
D
… i asked the support member why he thought the stock represented good value and investment potential.All he kept saying was that the club has thoroughly researched the property which represented a peace of mind purchasing decission.
Go figure ???
Exactly…..and if you’ve ever had the opportunity to meet one of these highly praised “Club researchers”, you’ll quickly discover that the blind faith placed in these guys is staggering to say the least.
Of the two I’ve personally met, both stood up at the front of the meeting and proudly claimed that they had no formal qualifications, and having been ‘doing this’ for only 3 or 4 years…..but with the Club’s ever so helpful support – everything is OK.
One had 4 properties worth about 900K and another had 5 properties worth 1.2 MM.
How that possibly qualifies them I’ll never know. The wife and I buy individual properties worth 6 or 7 times their entire portfolio and still wouldn’t have the gall to stand up in public and declare they are one of the vaunted “Club researchers”.
Still, if you are coming from a low investing base, these people must appear like demi-gods.
Love the free cup of tea and chocky bickies though – they are excellent for that.
I too have had dealings with the Investors club and found that the properties they had recommended were very ordinary at best but priced very highly compared to other properties in the same location. My support member has told me on several occasions that ‘the club’ reject 99% of the properties that they are offered. [eh]
I believe they prefer new properties and would probably be good if you wanted someone to “hold your hand” through the process.
I went to a meeting a few Months back to try the biscuits because Dazzling keeps talking about them (very nice and not a bad cuppa), nothing staggering during the meeting and a lot more info foud here and at SS via the “search function”.
Didn’t meet a researcher, but met some other Investors which is probably the best bit
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