Originally posted by yack:Callum
Would you buy again through them or do it yourself? Are you from Qld or another state? I dont like new townhouses and I reckon the depreciation allowances are built into the price of the property anyway. I also dont like buying in Qld when I am in Melb. They still get commission so its still in their vested interests to sell me a property. Everything they say they do for you, you can do yourself.
But going to the meetings gives me the information I need. As for making gains in the last 3 yrs. You could have closed your eyes and picked a spot anywhere in Australia and made a capital gain in the last 3 years.
Hi Yack!
Yes I would most definitely buy through them again going on my last two positive experiences. However, I haven’t found anything they have to offer at the moment that interests me. Like you, I’m not too keen on new or any type of townhouses or even units as there’s not enough land content for my liking and I’m not at all keen on Body Corporate fees and sinking funds. I’ll keep my eyes and ears open though and when there is something I think is a good thing I’ll check it out and look into buying with their help.
We’re in NSW and chose to buy interstate because we have been caught in the Land Tax “trap” with the huge capital growth in recent years. We have five properties in Sydney in joint names but if we had have been members of The Investors Club from the beginning of our property investment we would have known to put some properties in one name only and the others in one name only thus avoiding the huge annual Land Tax bill we now receive because our properties are in joint names and the Land Tax eligibility and allowance can’t be split separately for each of us as it would if the properties were in separate names. (It can in Queensland though, as the Investors Club taught me.)
So to have the assistance of The Investors Club to help in our search and purchase, and management of our properties interstate has been invaluable.
Again, like you, going to their meetings and seminars gives me the information I need to proceed in accumulating a property portfolio, and the encouragement and networking is a real bonus. Have met some great people at the meetings from all walks of life, many of whom are inspiring.
I also agree about “closing my eyes and picking anywhere in Australia these last few years” for good capital growth but the Investors Club gave me the tools and the information I needed to structure our portfolio to our best advantage for many years to come. Some of their ideas seemed quite revolutionary at first and had us thinking quite differently especially regarding our retirement plan.
We were just plodding along with no real “plan” but now we do have a “plan” and have a much clearer idea of how, what and when we can achieve our goals, just how to go about it, and who we can turn to for reliable, accurate help.
Yes, they do make money out of selling to the public but the big difference is they work for the VENDOR, not the purchaser as regular real estate agents do (or are supposed to do!). They are not a charitable organisation so they are entitled to make money just like the rest of us and the commission they make is quite transparent and reasonable.
With the knowledge they have given me, I would still buy elsewhere from someone else if I found the right property as I know I could do it myself. However it would be much more complicated buying interstate without their help because of all the different real estate laws from state to state.
I’m addicted to this forum and I’m continuing to learn more and more about this property investing “game”. I also devour any book I can get my hands on on the subject in order to increase my knowledge and hopefully avoid too many mistakes down the track.
I’ve enjoyed your posts Yack. Keep them coming!
Bye now,
Callum [:o)]
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