Hello all,
I am interested in any opinions or feedback about a company I have spoken with today. WIthout naming them, they are basically a company which provides information about seeking finance, building a new home and then renting this property out – based on investing through negative gearing. Apparently they set up meetings with a financial broker, building company and property manager, who help decide how to set up the financials, where to build etc. I think it sounds quite good (in terms of providing assistance for newbies) but am wondering if anyone has dealt with a company like this or has any opinions?
Thanks
These sort of companies are all over the place right now.
They are more than likely a development company and you have been approached by the saleman.
They promise you financial security through the wonders of negative gearing, and usually mention the figure of "only $50 per week " out of your pocket or something like that.
You will probably be paying too much for a property that they want to flog to you.Ask them if you can supply your own;
Finance
Legal advice
Valuation.I'm tipping they will be very reluctant.
I would run a mile.
It isn't Harvard Securities is it?
Yes I recently received this call about the $250,000 in income tax i'd be paying that could be used for investing in real estate. Good script got my attention but pretty obvious its an old dog in new sheeps clothing.
Beware of telemarketers!
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Beware of paying good money for knowledge that you can get a lot cheaper from books.Seminars are income-generating machines taking money from people seeking short cuts and giving it to those who have read the books to make the profits. Seriously if they could make the kinds of dollars they say are possible why would they waste their time selling seminars think about it. Excellent property deals also fall into this category.If the opportunity was so good why are they selling it?Why are they not selling it to their mates long before approaching a stranger? The best most profitable deals in life are the ones you make your self.The best most profitable lessons in life are the mistakes you make and learn from.The best learning material is one that gets your hands dirty.There are no short cuts to knowledgeable experience. Please sign up to my once in a lifetime opportunity never to be repented offer to point out what a scam looks like.Please turn up to ….. On the …… and bring all your money. 'The greater the struggle, the greater the victory.' Richard Denny.
Santariniwalk,
The general concept of purchasing properties on a negatively geared basis is a long term wealth strategy adopted by many Australians. You do not, and should not, go through a company offering a one-stop-shop service as you will be paying for it all the way, and they are usually a developer trying to sell their properties at inflated prices.
However, what you should do is read as many books as you can on the topic to gain a thorough understanding (but it is a fairly simple process when you break it down) and approach your broker/bank manager to talk about borrowing money to purchase an investment property, they will guide you along and make the process fairly easy. Choose a property that you think is in a good location and likely to receive good, solid rental income and experience steady capital growth.
We are also new to this and were given the name of a company today from my husbands boss. It is the McCarthy Group – are they also the type of company you are talking about?
He has been trading with this company for a number of years with properties in Darwin and Cairns, they appear to be all for new properties though.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
