Forum Replies Created
As with Brett, thank you everyone for the information you have given, the threads to research etc.
I have parted ways with Yale prior to the end of the cooling off period as they would not give me sufficient time to research the company itself, and any financial impacts it would have on my military pensions. Needless to say, their customer service once I had signed was non existent, they didn’t reply to e-mails and fobbed me off when I phoned their head office with I will get back to you and didn’t I email you that information BS.
I know there are three major things I need to do before investing in property, be it negative or positive. RESEARCH RESEARCH RESEARCH.
I will continue to follow these forums over the next 6 months until I fully know what I am getting myself into, the pros and cons of each system and how it will affect me financially (my pensions) before and after I sign. Another major bit of information I overlooked while dealing with Yale is to ensure I have sufficient savings available, should any IP be unoccupied for 6 months (may seem a lot, but I think it’s better to be safe than sorry) or there is major damage done by a tenant that is not covered by insurance.
Again, big thank you to everyone, your the reason why most people are successful in IP’s
Regards
Dean.
Thanks for the welcome and the information. Got my cup of coffee ready and will start reading your recommendations. Yale is all about negative gearing which is where the $60 a week to own an IP came from, being on a military pension if that’s all it cost, I’m all for it but I know that won’t be the case and there are more $’s required. My brother has two IP’s, one house and one apartment and his situation is what has me nervous. The house is going great but the apartment is ending up costing them $17k a year because the developer they brought it off overvalued by a couple of hundred $k.I dare say I will have more questions but will wait until I have read your recommendations.
Cheers for now
Dean.
Glad to see that I am not the only one having a hard time trying to get hold of reviews relating to Yale Property Solutions.
I am in Perth and just finished having a presentation from Yale and whilst I didn’t get any initial bad ‘gut feelings’ about the meeting, I don’t fully understand how my outlaying $60 a week could get me an IP. I spent 3 months researching for solar panels so I won’t be jumping into anything head on without reaching out to the experts for advice/knowledge.
To be honest, I had not thought much about IP’s before tonight as I always viewed them as too expensive and too big a risk should it stay vacant for extended periods. What are realistic costs associated with buying an IP? To me, if $60 a week is all it took to buy a $350k IP, everyone would be doing it.
Thanks in advance for any assistance or advice you can provide.
Deano
