Same here

Many thanks for your kind replies

thanks for those who replied but I am still none the wiser about what to do

Well..mine was to marry Tom Cruise but dam it Katie got in before me.

Hi All…also on the same note I have recently had some financial advise on the property in question and to rearrange my finances, this will not happen untill July also. I also have a bill from the the adviser..should I pay that now or wait untill after 30th June…sorry about the confusion..cheers Christobell[confused2]

Sad but true TMA sad but true. When I first bought the property they (The Investors Club) told me my property would double in 7 years but I didn’t think it would be back ways.[upsidedown]

Never Sell is right..I bought a property from them over 4 years ago and its now valued at 30K less than I bought it for..and I cant sell it.

Originally posted by hmackay:
Sorry forgot to mention that the Investor Club guru says “Never Sell”. What are others thought on this.

hrm

It sounds like a similar situation to me, I bought a lemon from the Investors Club in Alexandria, Sydney 4yrs ago when there were hardly any apartments around Alexandria and then whamo all of a sudden there everywhere. I have tried on a few occasions to sell mine but unsuccessfully. The only saving thing is the rents are increasing around there,…[Read more]

Originally posted by landt64:
Hi Clueless,
check it out with the tax man. We inheirited a property and have been assured that we will pay no CGT if we make it our PPOR.
Landt.
Yes but how long would you have to live in it so as not to pay CGT?

Robert..yes it was a Meriton syle complex although not built by Meriton..lifts, pools and all the bells and whistles with hugh body corp levies..and yes I did learn a valuable lesson, never to buy into this kind of complex and never to buy from the I.C. again.
Resi..No commission was disclosed to me, either the support members or the Clubs.

Bought in Alexandria..Sydney when I knew very little about property investing..I trusted my support manager.(the person that guides you and gets commission on what you buy from the club) That was the worst mistake of my life.

Yes and I know quite a few registered nurses with healthy portfolios…they have up to 3 jobs to do so. We might be angels but we are smart angels.

Originally posted by redwing:
Are you a nurse Christobell ? [angel]

As for this post..ResiWealth any thoughts on Reverse Mortgages advertised for the elderly.

REDWING

“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator

OK here it goes…I bought my first property throught the investors club almost 5 years ago now, and despite a boom over the past 5 years. I paid 315K for it then and had a valuation done around 3 months ago and it’s worth… wait for it…only 300K now..Hope this helps.

Goes to show that registered nurses are not just average people as you point out…don’t know what you do for a living but she out smarted you.

I can’t believe you think like that..that is so cruel

God bless his family and give them strength to get through this horrible ordeal

A lot of people say that about the Goldcoast “how many new people are arriving weekly” but how many new people are arriving weekly into Sydney and the prices there are still dropping there. Spoke to a R/E agent at Ray White Main Beach (Goldcoast) yesterday and he said there are twice as many sellers as buyers at the moment..Hmmm..what does that tell us.

Hi..I use Grahame Raftery & Co at Nerang He was actually recommended by someone from this forum. He specialises in IPs..cheers Chris