Hello All.
Has anyone dealt with EOS property Group and there so called property armchair investing. Just wanted to get some feedback to there service, integrity etc etc. I know Bob Andersen and Nigel Kibel run a similar service which all seem very attractive, but I know very little about EOS Group. Also what are people opinions of this sort of investing. Seems to be roughly $140K deposit and approx $400K as a complete build (2 or 3 bedroom unit) with a valuation of about $500K, this is very roughly speaking approx $100K under valuation.
Also anyone got any advice on North Perth as im yet to complete my due diligence on the area.
Cheers
DM
I haven't used them personally but a long term forum member named Derek is affiliated with them – he makes some excellent contributions to this forum on a regular basis. He knows his stuff.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi DM,
As far as "Armchair investing" goes, they have a good project in East Perth on offer.
Either a block of apartments or townhouses [ can't remember ]
Where you pay for your share of the land and balance after the project is finished and been re-valued.
You get the property for wholesale.
Make sure the builder, is reputable and check out previous projects.
I lived in the North Perth area for 10 years and would recommend it to invest in.
The local shopping centre is on Fitzgerald st, which runs north from Northbridge , near the city.
Beaufort st , also runs north from the city, has trendy coffee shops, restaurants and a couple of bars.
Over the past 15 years, the old homes have been modernised , blocks have been subdivided and contemporary homes have sprung up. There's still a large Italian population with homes, that they have made comfortable with their unique style.
Great to pick up if you are looking to renovate.
Good luck
Rob
Thanks Jamie, I have spoken with Derek tonight.
Hi Rob i couldnt see anything about there East Perth Offer. The proposed development is in Loftus Street if u know it.
The only thing im concerned is if teh built in equity isnt there on completion. I met someone who has done a few with Bob Andersen and he has had a 50-50 strike rate with available equity on completion.
I welcome any other comments. Appreciate your feedback
Cheers
DM
DM
Just checked their website, the East Perth apartments are in Windsor st, now "Sold Out"
Its not North Perth The area can be defined as "Perth" / "East Perth", its right on the border .
This is the one I would of chosen, as its a quiet st, East Perth train station at the end of the st.
Two stops to the city and its the end of the line for the Indian Pacific from Sydney or Melbourne.
Check it out on Goggle Earth.
The other 2 are in North Perth, Charles st and Loftus st.
These roads can get busy during rush hour, but nothing like Syd /Melb.
They do have good access to shops, the local council is spending big upgrading the pools and re. centre, its on the main bus route to the city.
Not sure of the figures for these projects, you will have to do some research to see what is selling and for how much.
Good Luck
Rob
HI Rob, yeah im aware its on a busy street which is a little concern, but other than that location looks really good and deal stacks up OK, these are the figures thus far below.
I do know they have another coming up in a few months in North Perth, so maybe best to wait for that as it might be a better street and then I can have my finances better sorted. Im really keen on Perth as well, I have a property each in NSW , VIC and QLD mining town so Perth would be a good diversifier next in the portfolio as I think its ready to go again. As mentioned I think I need to do some more research on the area as I know very little, more of a hunch than anything and being 3kms from town in any major CBD is hard to go wrong with, but I will do some due diligence.
Initial deposit $140,000
Construction $323,000
Total investment $463,000
Est. final market value $565,000
Est. Capital gain $102,000
Rent return (average) $510/week. $660/week with furniture
Yield 5.8% to 7.4%
Return on Equity 70%
Development profit 22%
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