Forum Replies Created
They are trying to get you together to spruik you a property, run a mile and let him know he sucks
Why not shame him, it will help others from getting treated like that.
Always get independent advice not associated with the transaction, trust me, best advice you will ever get.
Cheers
Nigel, it would be interesting to compare the 90's figure with now
Shocking service Hiten, at least with social media now companies like these will suffer in the end.
I do know someone who has investments in Ceduna and may know someone there who could help or point you in the right direction.
No wonder Real Estate Agents are perceived as car salespeople.
There is no logic in their decision ,okay the property might be too hard to manage due to its location, however do not just dump you, how about offer some service for the fees you have been paying and assist in finding a solution for you. They are in the industry for goodness sake, they would know stacks of people in the region who could fix your problem for you or at least point you in the right direction.
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If they have left you with a bitter taste in your mouth I would send him an email making it perfectly clear how dissatisfied you are and how such poor customer service can damage a business reputation overnight..
Actually this has given me inspiration for an article,
":What to do when your advisor lets you down".
Good luck Hiten, do not get too disheartened, adversity makes us stronger and there will a solution, perhaps this hiccup will now make you better assess your investment management strategies to avoid the same problem again, once you find the right person, you watch how hassle free and easy it is then.
All the best on your endeavors to create wealth through property investment
The thing to remember here it is not as hard as some will make you think, by keeping it complicated they are able to charge fees and services and direct people where they want them to guy, not looking after their clients best interest.
Investing in US property is easy and not a hard or high risk thing to do as long as you get the right independent advice from a person not related to the transaction.
A reputable Property Coach or mentor who has reliable professional contacts in the area will be able to look after those risk factors like buying in slums etc. If you think about it, it is really no different than investing in Australia, just follow a proven investment strategy, keep to the rules and it will be fine.
There is a lot of hype and hysteria about buying in the US whether it is founded or not time will tell, if you go back to commentary just after the GFC there was the same type of hysteria here, saying our property market is a bubble expecting to drop by at least 25% etc.
5 Years later, whilst things are no where near perfect, we survived it pretty well to date.
My personal opinion is if your looking to invest to take advantage of the potential high growth involved in a rebound forget it, there are enough opportunities here to do that with a much more stable economy behind you.
For a long term hold investment it is defiantly the time to do it, this could be a once in a life time to purchase at these types of properties at such low prices, seriously how much lower than $40k can a 15 square home on 600m2 go
Even if it drops by another 50% your unrealised loss is only $20k, over a 10 -15 year period this small amount will be made up at least 10 fold
Whilst there are hints that the US currency may crash, one thing is for certain the USA will always be there and nearly 1 billion people need a place to live and i don't know of anyone who can make more land (apart from maybe in Dubai lol)
I personally know many savvy sophisticated investors who are buying multiple properties in the US, they are very happy on the purchases.
I am yet to hear or read of any major horror stories from people who have been burnt in the US, which kind of confirms my original comment.
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I would be especially careful of apartments based outside business districts, potential slum cities
Exactly why you need to have someone make sure you do not invest in these areas, pretty easy problem to overcome
I am sure they would love to realise these bad debts to get their cash reserves up so they use that cash to re lend at their 9 to 1 ratio This would give them ample funds to start lowering lending criteria to get money flowing again, What are your thoughts on which way it will go?
They are extremely worried re taking possession in certain areas as all this will reduce values and affect there non problem loans. Interesting times re values in the next 6 months I would imagine.
Not likely
I too know someone who buys huge numbers of properties from the lenders in bulk lots. These are usually apartments, flats and townhouses, usually the domain of the investor.
You should ring one of the Andrews direct. I think the son is the MD, he may appreciate to hear about what you received, a lot of time these decisions etc are made by the line manager. I cant imagine the Andrew's family would want tell a client they do not want them. Amazing
Really bad service if that is the case, did you get a call or anything from them first.
I refer numerous clients to property managers in Adelaide, now thanks to your comments We now have another one to put on our flagged concerns list.
Speak to Toop & Toop, very professional, probably the best in SA id say in systems and procedures etc
I have never had any personal dealings with LIn Andrews, however within the Adelaide Real Estate fraternity they do have a fairly good standing.
Great local advice guys worth looking in to further
It is defiantly becoming a global economy with the advent of technology making it so easy to transact, your are correct though it does place it in a different perspective.
Maybe as Australian's , we should be taking advantage of the cheap opportunities outside our borders as the Chinese etc are
Will raise interesting debate about sovereignty I imagine.
Thanks, will research the related party loan feedback
Nigel if the 5% commercial loans are compliant, would be very interested, into looking into these more, if we can find a better offer , fantastic, where would be the best place to start find these?
I spent 2 week sin Townsville researching the area in December last year.
I did like what I saw, Townsville is growing to become a major satellite Business City for Northern Queensland.
It does not rely on one sector and has a diverse demographic including defense, mining, tourism and aqua &agriculture
Like anything, the profit is made in the buying, look for a bargain with a motivated vendor.
Check out average days on the market and average vendor discounting. This will give you an idea of the difference between advertised and sale price along with slow moving stock which could equate to a more motivated vendor.
Hope this helps
Even if for some unforseen reason the currency did go broke. land will always be there and there will always be a demand for shelter.
This is one occasion where I really really push, get good advice first, and make sure it is in no way linked to the transaction.
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I have written an article on this, in my opinion the jobless figures are critical, keep in mind there will be a large lag between the economy showing growth and the property market improving.
There is way way too much stock, held as bad assets, it will take a couple of years once the US economy turns upwards before that stock in back in the system.
Anything US has to be long term hold in my opinion,
Do more research
Look for stock on market compared to this time last year.
Vacancy rates over last 12 months and how is this trending
Days on the market and vendors discounts are worth looking at.
These things will give you a feel for the area, then it is a matter of finding similar properties
As an example if you can find similar properties then the vendors discount from their advertising price is a good place to start.
