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  • Profile photo of learningtoinvestlearningtoinvest
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    @learningtoinvest
    Join Date: 2005
    Post Count: 9
    April 14, 2005 - 2:39 pm

    From my enquiries so far:

    They charge $99 a year to send you property information which meets your requirements.

    I think you have to sign a spotters contract before they send you any information though – this contract ensures that you agree to pay them their spotters fee if you were to go ahead and purchase that property.

    What I like:
    1. They do all the research for you and properties are generally +ve cashflow
    2. I think the guy told me may also negotiate on your behalf to get the sale. This is natural because if it sells, they get their fee.
    3. They have some good feedback/reviews in a Property magazine I read once.

    What I dint like:
    1. $99 Annual Fee
    2. Their spotters fee from the 2 houses which I was looking at (3 months ago) was approx. $3500 for one and $6500 for the other. A bit steep in my opinion – considering the agent also gets a cut out of the sale price.

    The above is from a 10mins conversation with one of their consultants. Please call them yourself as I may not have explained it properly/correctly. Just trying to help.

    Regards,
    LTI

    Profile photo of learningtoinvestlearningtoinvest
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    @learningtoinvest
    Join Date: 2005
    Post Count: 9
    April 14, 2005 - 2:22 pm

    I agree with you Derek.
    You can lock this one too now.

    LOL

    (sorry just being a pain)

    :)

    Profile photo of learningtoinvestlearningtoinvest
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    @learningtoinvest
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    Post Count: 9
    April 13, 2005 - 12:48 am

    Thankyou – A very interesting read, and very timely too because I was prepared to go to Jamie’s 27th May seminar which is now cancelled due to court proceedings.

    I havent read that whole thread but am under the impression that Steve McKnight is on Jamie’s side. He must be to have his link on this website.

    I am unbiased and will keep an eye on this matter with interest.

    Dam – Due to the current court proceedings, i cant’t buy his home study guided now either! :(
    (or can I?)

    Profile photo of learningtoinvestlearningtoinvest
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    @learningtoinvest
    Join Date: 2005
    Post Count: 9
    April 5, 2005 - 1:55 am

    Hey Admin,
    Are you deleting posts in here?
    I’m pretty sure I replied to this thread before and was waiting for carlin to get back to me as to which accountant they went with.

    Carlin, have you found an Adelaide accountant or did you decide to use one from interstate?

    Profile photo of learningtoinvestlearningtoinvest
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    @learningtoinvest
    Join Date: 2005
    Post Count: 9
    April 3, 2005 - 5:01 am

    I’m also from SA, just starting out and have been looking for IPs about a month now. I reckon in today’s market, you will never find a CF +ve property…that time has past. You now have to be creative and look for other potentials to make your next purchase work for you.

    From what I learned so far….the new trend is to buy problem properties, find a solution to that problem and voila…you made money!

    Sounds easy huh? I wish I could do it. [blush2]

    Profile photo of learningtoinvestlearningtoinvest
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    @learningtoinvest
    Join Date: 2005
    Post Count: 9
    March 8, 2005 - 2:40 pm

    Hi Carlin,

    I’m also from SA and just starting out too. Please keep me informed of your progress. I’m interetsed to know which way you’re going, either an accountant or via this Ed Burton consultant. $3K is way beyond me though so i’m hoping you found a good SA accountant you can reccommend. :)

    Best wishes.

    Profile photo of learningtoinvestlearningtoinvest
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    March 5, 2005 - 2:28 pm

    Thanks heaps for your detailed reply Eeshole – much appreciated.

    As I am just starting out i think I will start as an individual with my first IP and see where we go from there.

    I will also read up on trusts as it seems that’s how most of you more experienced investors are doing it. Although I have a feeling that the BIG ones like Steve would most likely be investing via a company format.

    Keep in mind also that there are transfer costs involved if you transfer your properties under your own name into a business or company name.

    One step at a time for me then i guess…

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