Hi, Just wondering if anyone has had anything to do with a club called "The investors Club" run by Kevin Young. I Have been to a few of there meetings and not really sure what they are getting at. They set you up with mentors and discounted rates on various services all for free, but you have to buy through the club and buying externally is frowned upon. Not sure what to think at the moment, trying to keep an open mind, but what's that old saying "if something seems too good to be true then it probably isn't true". Don't want to be just another cynic.
Yeah spent some time going to their meetings and listening. Quite happy with the concept and it is a system that I believe can work depending on your level of experience but was not for me as I am a renovating investor primarily. I would feel happy recommending the system to you and anyone who it suits
Yeah, seemed to be heavily negative geared focused, and once you have enough equity (around 500k I think) you then retire and draw out $50 000 a year out of your equity (line of credit) tax free to live off, then the next year do the same on your next property etc… then by the time you reach your last property, the first property would have risen a fair bit more so you start again. Am I getting this? so effectively you can retire. Is that the go?
yeah that's pretty much the idea from memory…
i bought one of my properties through them a few years back and had a friend who bought a few through them. They offer a relatively worry free process. They even have someone to drive you around to show you the property. So it's good when you are starting out seeing that someone else does the looking for you pretty much.
But i have found their places to be heavy negatively geared and rely on depreciation. Alot of the time they seem to source their property directly from builders ( either new or renovated ones ) so the quality is generally pretty good. ( or at least no nasty surprises )
I'm no longer getting places through them cos I like to look at areas which generally aren't on their stock list… I think thats about right. However it seems to be aimed at the less than confident investor! All decisions are taken care of for you. The decision to retire is one that they seem to push but I feel that is a selling point for their services. Everyone likes that idea! Personally I want to continue the growth for as long as I can so that there is no mistake at the end where I find it wasn't enough to retire on after all. They approach developers with a deal to purchase all their dwellings at once then move them on to their investors, but at a lower than market value. I believe that is possible with a good plan of attack anyway for the individual. So what real benefit to you? my question was …Do I need this? Answer that truthfully for yourself and maybe it will give you an answer whether to go with them or not.
I'm no longer getting places through them cos I like to look at areas which generally aren't on their stock list… You must be logged in to reply to this topic. If you don't have an account, you can register here.
