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Viewing 8 posts - 1 through 8 (of 8 total)

colio
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@colio
Join Date: 2004
Post Count: 10
August 11, 2004 - 1:06 am
Hi Pelican
Firstly, thanks for your encouragement. If you read my post in the Tell Tale forum you will discover that I have indeed done investments myself. Not all great but some are indeed good that I am very happy with. I am in fact an active investor & am currently putting together syndicates to do things like developments of residential & commercial properties as well as purchasing +’ve cf properties.
Secondly, I think you have sadly missed MY point I wasn’t saying that everyone should just rely on buyers agencies like the property guys in Richmastery – I definitely encourage people to learn for themselves wherever possible. BUT, for some, groups like this are a god-send. They neither have the time to both find these deals nor gain the necessary knowledge. I know HEAPS of these people – they lead very busy lives from demanding jobs to families to lots of other commitments. All of them would love the chance to do what you & I do but its just not possible. So buyers agents are excellent.
My point right from the beginning was really to give positive support to Richmastery because I definitely have benefited from their services.
colio
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@colio
Join Date: 2004
Post Count: 10
August 10, 2004 - 12:37 pm
Woops! Yes yes, it was $600 per week. $600 a month would have been a terrible return! [blink]
colio
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@colio
Join Date: 2004
Post Count: 10
August 10, 2004 - 12:32 pm
Yack
Firstly, you may want to read the Tell Tale forum as I have posted something there which had nothing to do with Richmastery.
Secondly, I decided to join this forum to support Richmastery because I have certainly gained a LOT from the group. What is wrong with me doing that? They were being trashed by lots of posters who seemed to be just as one sided & much of what they seemed to be writing didn’t seem to be based on real evidence, just their own thoughts or what they’d been told.
From my previous posts, I’ve got a lot from these guys & I like what they’ve done for me & many other members feel the same way. So just decided to post here to support them & put my 2 cents worth. Hope thats ok with you?
Colio
colio
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@colio
Join Date: 2004
Post Count: 10
August 10, 2004 - 12:26 pm
Pelican
Nope, don’t work for Richmastery. Didn’t you see what I wrote? I work in IT not property.
Richmastery’s property deals business are essentially a buyers agent. There is nothing wrong with using buyers agents especially when they can get deals that the average investor can’t. What is difficult for you & I to do is to go to a developer & say that I will take 20+ units or something like that in order to get a discount but they can because they have the members to sell them to.
Yes I agree, doing your own research etc is good & saving $5k is saving $5k, but for many people they do not have the time nor the know how to get the kind of deals they do.
Pelican, you talk like everyone in the world has the same time & knowledge you do. This is not the case so their services are definitely good.
And to Yack.. what the?! Very intelligent post that one. Believe what you like really. Choose not to believe what I say. Choose not to believe the earth is round. Just cos you believe something or don’t doesn’t make it true or false.
I’ve presented my evidence which is backed by real experience, you’ve presented “yada”. Thanks!
colio
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@colio
Join Date: 2004
Post Count: 10
August 10, 2004 - 12:21 pm
Thanks for your thoughts Gregg. To be totally honest my property partner & I had the cash to purchase the thing outright if we wanted to, but the thing was whether or not the original bldg inspection was correct or whether the valuers were correct saying that it needed 50-100k to fix up. If the latter was the case, it wouldv’e been a bad investment so we decided to lose the 10k instead.
We didn’t really want to put more than the 30% we needed to get the property because we had other investments to put our cash/equity towards. And we didn’t want to ask anyone else for help in case the property did turn out to be a lemon.
colio
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@colio
Join Date: 2004
Post Count: 10
August 9, 2004 - 11:21 pm
Queensland property law works slightly different. That clause is essentially already built into the contract. But you have a certain time to go back & say whether the finance has been approved or not.
Technically the finance had been preapproved so we were happy to let that clause expire, which was our big mistake. We couldn’t foresee this happening because there was nothing in the property reports to even give us a hint of this happening. So we stupidly went ahead with the contract advising the vendor that finance was fine. Stupid!
colio
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@colio
Join Date: 2004
Post Count: 10
August 9, 2004 - 11:44 am
kay,
Yes true, agreed. Forgive me for that quip. I was a little frustrated by some of the things that were being said in the forums.
Colio
colio
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@colio
Join Date: 2004
Post Count: 10
August 9, 2004 - 9:55 am
So Bec, you’d rather believe Real Estate Agents? These are the guys that will be losing out from deals that Richmastery put together. And aren’t agents the most ethical group in the community? I rate them alongside Used Car Salesman!
What real experience have you actually had with this group? Seems to me like you might be from some competitor or something. All your negatives don’t seem to have any substance behind them.
Colio