Forum Replies Created
Hi,
I purchased through the Investors Club and have been nothing short of delighted with my purchase. I purchased a townhouse 2 years ago at $232,000. One of the same designed townhouses in the complex just sold for $298,000 2 doors down. Just ensure you do your due diligence when purchasing. They are fantastic for people who have little idea in what they are doing as they help you every step of the way and you can always call on them if you need help in anything about investing in property. Also the after sales service is excellent as well as they help you find tenants, QS reports and a host of other things that alot of people just don't know about when investing. And yes, they do get paid for it but this is well known to anyone that is purchasing through the IC. They even mention this at their workshops so it's not unknown.
All I can say is check the body corp fees and Personally I wouldn't buy anything that has an elevator in the complex. That's a huge expense that will never go away. Also they don't just sell new property developements, they also sell used property. I know myself, if it wasn't for the IC, I still would be at home looking at property everyday on the websites too scared to purchase anything just in case I did the wrong thing. Just ensure you do all your homework and research throughout the internet, especially with forums like this.
I know alot of experienced property investors may say do it on your own etc. , and maybe their right, but some of us need a helping hand and just that extra person who has the knowledge to help you purchase your property and give you the confidence to do something instead of procrastinating all day because your too scared to jump in to the huge property investing world.
Shane
I bought my first property through the Investors Club. (The following thoughts are mine alone and please don’t think I am any expert because I am clearly not. This is just my experience)
If I didn’t have their help I would have still been procrastinating and sitting around wondering if I will ever get into investing. They are great if you don’t know what you are doing and my support member was fantastic and is still extremely helpful to this day. A few important things you must consider first.
1. Don’t just go for the first property they offer you. Do your homework and if you are patient every now and then a good deal pops up.
2. I have heard not to buy any property/apartment that has an elevator. Look at the Body Corp fees and take this into consideration. Also land appreciates alot faster than buildings and I just can’t see how you would make money out of an apartment. (I went with a townhouse myself)
3. All the properties are negative geared. In a few years they may turn positive due to rent rises but at the start they are negative. Your support member can show you how to minimise the cost.
4. It is NOT A CLUB. They are a business which makes money. But if it didn’t make money then it wouldn’t be around. At least with the Investors Club they are there to help you, and guide you. But they do make money from every property they sell. They make their money from the commission of the sale of the property. Do your homework and ask lots of questions and seek independant advice if you are still not sure. I had no problems whatsoever and my support member was honest and told me everything upfront.
As I said before, if you really want to invest and have no clue what to do (like myself) then the Investors Club was a great resource and helpful every step of the way. I have had no problems with them and am extremely happy with my purchase. Just do your homework.
As I said before I am extremely new at investing, but without the Investors Club, I still would have been sitting around at home, looking at properties in the paper and being too scared to do anything about puchasing any. You can always PM me if you want to know more about my experience with them.
Good Luck
Cheesy
Thanx for that Devilc8.
That is totally awesome. Can’t beleive how cool that is. I can even just make out my car in my driveway [cap]
Dazzling wrote:
“3. All ressy tenants want everything for nothing.
4. The RTA is not your friend.
5. Non-ressy tenants don’t whinge as much.”Sorry for my ignorance, But what is a ressy tenant? [saywhat]
Cheesy
What I did was pay the bill. I can still claim it on tax deductions but not until next year. So it really doesn’t matter when you pay it as you can still claim it on next years tax return. (That is what I have been told by my accountant).
Shane
I’m in the same predicament at the moment. I have been told by an accountant that even if you pay the bill this Financial year, but your property doesn’t settle until after June 30 you can claim it on next financial years tax return. As it is still a deductable cost on your property even though you have paid it before the new financial year.
