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  • Profile photo of BrettBrett
    Participant
    @brettmc23
    Join Date: 2014
    Post Count: 7
    February 23, 2015 - 3:06 pm
    Janelle wrote:

    We have told them we don’t want anything from them. The guy kept pushing “but it’s only $54 a week!!! It’s being built next year so you have a whole year to save.” etc etc… my husband had to get quite animated for him to even listen.
    so no, we’re not going through them. We are doing it our own way With the help of the in-laws.

    Hi Janelle,

    In the end, we also pushed pause on the investment property. I was firm from the beginning and to be fair the “Property Coach” was quite open and left it there for now….said he would follow up in 2015, but still no word from him. No idea whether he is no longer there or not, but it seems that they aren’t interested in us any more.

    We still went through with being a “member” though and used the financial advisor from their affiliate in Melbourne to refinance our home/consolidated debts which we did want to do anyway. Was happy with that process and no complaints.

    The way I look at it; I never hear from them again and I spent $700 to learn a lesson or I hear from them again one day and will know not to be pushed or rushed into any one particular corner and to come in with eyes wide open.

    Profile photo of BrettBrett
    Participant
    @brettmc23
    Join Date: 2014
    Post Count: 7
    October 28, 2014 - 5:10 pm
    Benny wrote:

    Hi Dean,

    First off, let me recommend that you go to the Home page, look on the right side (under Private Messages) and look for the “Strategies Explained” area. The first strategies are “Positive Gearing” and “Negative Gearing”. Have a read of both of those.

    The way Yale and many others promote is Negative Gearing. It is a viable and valid choice, especially in Australia, but watch out, as not all companies have your interests at heart when promoting their product.

    Then compare the Positive Gearing option. And then, to help you get up to speed on some “early learnings”, check out this thread:-

    https://www.propertyinvesting.com/topic/4410491-the-big-picture-for-new-readers-especially/

    Benny

    Benny, I think this is what I am really looking for….information about the various ways that investing in IP’s can be done and the relative merits of them, which then allows educated decisions with firms like Yale.

    In the end I feel good about putting the brakes on pushing forward what was initially presented to us by Yale. With further research, discussions with people who are already investing etc. my plan of attack will be to go to them with my idea of how we would like to do something and see how open they are to that. If it is shot down in flames as “not the way you want to go, you should do this instead”, it might be alarm bells ringing.

    Cheers to all who have responded to this thread too, it is greatly appreciated.

    Profile photo of BrettBrett
    Participant
    @brettmc23
    Join Date: 2014
    Post Count: 7
    October 8, 2014 - 7:40 am

    Thanks Richard, fired off a PM last night.

    Profile photo of BrettBrett
    Participant
    @brettmc23
    Join Date: 2014
    Post Count: 7
    October 5, 2014 - 7:17 pm
    BuyersAgent wrote:

    You are in control of your financial future. You can engage professional help but if they are hard selling or rushing you then I am hearing alarm bells.

    Not sure I would have called it a hard sell, ie. this is the one thing to set you up for life, but you NEED to sign now etc!! Not sure I can put into words without sounding negative, what it seems their strategy with new clients is.

    I want to give them a chance because I think/feel they seem to be legit, but I also want the time like you have said to look into things, come to them with options etc and see how they deal with that.

    Time will tell.

    • This reply was modified 10 years, 1 month ago by Profile photo of Brett Brett.
    Profile photo of BrettBrett
    Participant
    @brettmc23
    Join Date: 2014
    Post Count: 7
    October 5, 2014 - 3:09 pm

    Thanks Benny,

    I think one of the things that has thrown us a bit is that the timeline to start pushing things along is a lot shorter than we probably wanted or expected. That is why the brakes will go on and we can think more about what is best long term.

    Cheers
    Brett

    Profile photo of BrettBrett
    Participant
    @brettmc23
    Join Date: 2014
    Post Count: 7
    October 4, 2014 - 5:51 pm

    Hi knightm, thanks for the reply.

    What you have said basically captures the way my wife and I are thinking. The Yale Property Coach has told us that he gets paid on the # of properties they sell, not the value. So it does sound like a “working for the developer” situation. Not to say that it ins’t a good deal, but like you say, without our own research and thoughts it is hard to know one way or the other.

    Talking today we believe it best to put the brakes on for now. We haven’t been railroaded into anything at this stage, but we do feel that we need more time to look into things on our own, form opinions etc rather than just believing what the Yale guy is telling us.
    We are still keen on the refinancing and shuffling funds around that way for now….then use the Yale services possibly for financial planning, investor seminars (which might enlighten us more to their real philosophies), read up on the “investing game” and then make an educated decision.

    Cheers

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