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Welcome and very well done.
Find some experienced investors to ask questions of and always check who you get you advice from, or I should say: Listen closest to those you are paying and be wary of those being paid by others. By those I mean Marketeers, Agents and Brokers.
Qlds007 wrote:Hi AmitWell if that's the case they are overcharging you.
We charge $4950 + GST irrespective of the purchase price.
One rule never changes "You only get what you pay for"
Direct Property Network or DPN
First Floor / 48-52 Cronulla Street
Cronulla NSW 2230
They claim to have offices in all states, but they don't actually rent them or have any staff there. Check out there office in Cronulla, nightclub toilets?
Shiny offices, Shiny suits & Shiny shoes, and of course great big shiny smiles. These guys are mudguards charging 7%-9% marketing Comm's.
You have to be crazy, she was Carly Crutchfield's right hand. We all know Carly knows nothing about property worth paying for, so it will be plainly obvious Yza will know about the same amount as her mentor Carly.
Why don't you do all of us a favour, write a item list for your renovation and give us some cost estimates? Less talk and more action, because I for one don't believe your numbers are even close to being real.
Don't kill yourself, just everything over $200.00, should only take 20 minutes max?
I have a warm feeling, just like someone is weeing in my pocket.
BertieB wrote:Thanks for the feedback. I've read that companies like YourShare, MyMoney, RefundEasy etc do pay part of the trailing fees onto borrowers' loans –Asking the question while knowing the answer???
The fact of the matter is YOUR SHARE is a misnamed company. They ask you to transfer your relationship from the broker who put the effort into getting your finance approved over to them. And as they have not invested any time into you, they don't have any overheads to cover, then they split your brokers trailing commissions with you. So you have paid YOUR SHARE for doing nothing and you get to pocket the rest, while you have stiffed you broker for doing nothing wrong. That makes you a dishonest customer and YOUR SHARE a bunch of backdoor merchants.
When you engage your broker would you be happy tell him upfront "hey, you do this work for me and I will get another company to rip off half your income and spilt your trailing commissions with me"
It's a bit like your boss selling your holiday pay, your super and your sick leave to another company so you wont get any of it down the track.
APerry wrote:I know Tony Hayak, the owner, personally…… For someone interested in off the plan purchases, I would suggest that Blue Wealth is about as good a company as you could deal with.APerry: I don't think UNDISCLOSED 7%-8.5% commissions are acceptable and I am sure Margaret Lomas and PIPA don't agree with you:
PIPA upholds anti-spruiker campaign
Property Investment Professionals of Australia (PIPA) has continued the call for caution in light of recent spruiker concerns, urging investors to ensure full due diligence is carried out before signing the dotted line.
PIPA chair, Ben Kingsley, says the opportunity for investment in property is 'incredibly attractive' right now.
“That being said, it’s critical investors keep a cool head. The worst investment decisions are often made on a whim or with little research, so the proper due diligence steps, including seeking out expert advice, are a must.”
“Unscrupulous operators are quick to circle around budding investors at this time, doing their best to cash in on increasing interest in the property market. Investors must be cautious to check the credentials of any person or company offering properties for sale or providing property investment advice.”In particular, he says buyers must remember to differentiate between ‘advisers’ and ‘marketers’ – and to remember not to listen to everything a sales person says. “They are after all, trying to sell you a property.”
Kingsley also stresses the importance of utilising a trusted – and qualified – adviser.
“Whether it be property investment advisors advising on suitable property investment, mortgage brokers advising on lending and loan structure, accountants advising on tax matters, or buyers agents assisting with purchase negotiations, they must all put the clients’ interests ahead of their own.”Blue Wealth sold units in a block in Campbelltown NSW, in 2009. Their main target for buyers were South Australian doctors (14) and the commissions they charged the developer was 8.5%. So on a $350,000 sale price they were paid $29,750. The units were not selling locally, so the marketeer's had to go to S.A find their target.