Forum Replies Created
Dear GOM,
I don't think the issue here is about Nelson Bay I think the issue here is getting advise from sales people greedy on getting commission v's giving advise from ethical and licensed people who perform proper due diligence for their clients …
I believe Philip said that after they looked at the property their advise is they wouldn't touch it … is that correct?
D
Dear dcn08,
You won't make money keeping secrets let alone sales.
The correct and business process is to have a "heads of agreement" or a "confidentiality" statement drawn up.
You need to talk to a solicitor to get "advise" on how you will receive a commission or fee for your service as obtaining money from a property transition.
If you become a buyers agent you can claim 3%
If you are after more money you need to "disclose" to the buyer the amount … I assume you are young and lack business skills you will need to change this quickly to become successful.
Why not disclose your full name on your post profile or are you shy … to receive a spotters fee you must have an ABN … at least Richard above has a proper signature and you are jerking him around and playing games … so exactly and precisely who are you and what is the deal.
D
Did you go to the link and if so what happened … strange question the link is there bart!
Give us the price son, are you the agent?
Need "operational works" and landscaping please asap.
D … we are a buyer so don't stuff around.
Hi Linar,
I agree and think we here should not be in a boxing fight as there are other issues.
I don't care what the name of the company is and what they are doing … I care that ordinary people are getting the correct and "legal" advise … as stated above any person giving advise on real estate investing "should" be licensed as an agent or planner.
Why don't we set up a watch dog here to help people on this site get advise from the right people, not saying that the current names are not nice people, just wondering why people who derive an income from a business in property don't want to get qualified to do so.
D
Thank you Rudiga,
I am not going to go on about this and this company as I am not a Neil Jenman …
I have looked at their web site … ask yourself this question are they are finance company or a finance company selling real estate.
DO NOT confuse PS 146 with financial planning … PS 146 is mortgage related and not financial advise related.
Please look up section 52 & 54 of the trade practices act which relates to misleading and deceptive.
Their web site has no real estate licenses and or financial planning licenses attached to it and they clearly sell real estate.
Their web site has no disclaimer on the bottom.
Their award is from a mortgage funder and not an Australian recognized award … section 54.
If you buy property from these people ask to see the PAMD 27c form that is attached to the contract and see the commission trail and total amount … if the commission is more than 5% of the price of the property price you are paying too much.
If you are visited by an in home CONsultant and they even mention the words investment property and they do not have a license to support their advise they are breaking the law … please don't believe me get an independant solicator to go through their web site of phone TDFT and give the names of the sales people for them to check out.
There are hundreds of these companies out there after the big commissions … within 3 years every person who mentions "investment" will be named and must have a liciense including the directors of the company. That is why no body has responded to this reply out of 200 hits in the last 30 hours … get a brain, get liciensed or get out of the business – accountants, solicators, agents and financial planners work and study hard to become compliant so why should you be any different.
TDFT has already set up a task force to get companies posing (misleading) as an entity and selling without the proper advise … even if you use a runner as the liciensed agent this is soon to be changed and so will youy world.
In summary it goes like this – IF you sell or recomend a property as an investment vechile for wealth creation and retirement purposes and you do not have an IPA certificate or a "financial planning liciense" you are breaking the law.
DThis now is anegative thread and i don't need this vibration in my life
Dear GOM,
Yes investors have lost another 4 billion dollars and this is my point … you say people don't care until it happens to you then it's a different story … even financial advisers get it wrong such as this investment and storm financial and many others before and in the very near future … these investments were insolvent anyway that's why the bank lost confidence as they could see the cash flow and bottom line going into overheads out stripping income … basic cash flow concepts.
The issue here is that most of these losses are from UNSOPHISTICATED investors, or people who have little experience with property and finance … what the inexperienced investor is about to learn that when it goes wrong they are powerless to get their money back, funny how storm financial has now been forgotten about …
The "answer" is education which does not stop at shool … the average person CANNOT afford to take a loss like a business owner as it can take 10 years for the average mum and dad investor to recoup their losses and then they are in their 50s and time is running out.
The Australians standards for savings at 65 is $1.800.000.00 not including health care and 95% of Australians fail to reach this target currently, oh and that doesnt include the value of the family home … retirement is a 20/25 year unpaid holiday so in your working life you need to accumulate 1.8 million dollars to retire in a dignified manor.
Any person giving financial ADVISE has a responsibility to the client other than being driven by a commission … the department of fair trading and ACCC are bringing in LAWS that any and every person in the sales process must be named and next to their name must be a liciense, so any person who sees an opportunity to PROFIT from the sale of a property or an investment will be held responsible for that ADVISE.
It's funny that people who have commented here have now gone undergroud which gives me reason to believe that this thread was another opportunity for free advertising and has back fired.
So here it is again … my personal and recent discussions with TDFT is that they are closing in right at this moment on "unlawful advise" which is bad news for the slick sales person and good news for the person who studies hard and obtains a liciense in their field … people with licienses will become very valuable to a builder, financece company or real estate business.
Copied below from previous.
Isn't it funny that once you mention the license word everybody runs for cover … let me give you the run down and if you don't believe me PLEASE ring the department of fair trading and the ACCC in your own state.
It is illegal for a real estate agent to give ADVISE on an investment product including real estate unless they have a financial services license or an IPA certificate … which I have.
IF you have purchased an investment property with advise or coercion from a person (finance company or real estate agency) without a license you are a complete moron. IMHO
It is illegal for a mortgage broker, a stay at home mum with xxx properties, the director of a company, an in home sales person from a telesales cold call, and yes a bus or x taxi driver to give advise and recommendations on investment real estate WITHOUT a proper license … and if thats you who is reading this look up "retrospective" your days are numbered.
Now lets see who is the first to reply and give their correct name … oh yes for those that have purchased an investment property get it revalued now from Heron Todd White(Qld) and charge the sales representative with the difference IF and only IF they do not have the respective license.
D
Hahahahaha,
Isn't it funny that once you mention the license word everybody runs for cover … let me give you the run down and if you don't believe me PLEASE ring the department of fair trading and the ACCC in your own state.
It is illegal for a real estate agent to give ADVISE on an investment product including real estate unless they have a financial services license or an IPA certificate … which I have.
IF you have purchased an investment property with advise or coercion from a person (finance company or real estate agency) without a license you are a complete moron. IMHO
It is illegal for a mortgage broker, a stay at home mum with xxx properties, the director of a company, an in home sales person from a telesales cold call, and yes a bus or x taxi driver to give advise and recommendations on investment real estate WITHOUT a proper license … and if thats you who is reading this look up "retospective" your days are numbered.
Now lets see who is the first to reply and give their correct name … oh yes for those that have purchased an investment property get it revalued now from Herron Todd White(Qld) and charge the sales representative with the difference IF and only IF they do not have the respective liciense.
D
Hello,
My accountant just bought a birth in Hope Island with a 6% 2 year rental guarantee and it's freehold … Many aren't like Sanctuary Cove …
D
Hello all,
I think I asked this previously … what is the name of the builder they use to sell the property?
What are the names of the real estate advisers for investment purposes?
What is their financial services license number?
Who in the company is the licensee – I mean director or responsible entity?
You guys are complaining back to front … if you want to catch these people out work backwards … real estate license number? … financial services number for recommending an investment product? … name of directors? … name of sales people who sold finance product and property product or house and land product …
D – IF these people are not licensed then look up "caveat emptor"
Hello SHales … I just got back from a holiday in NZ on the top of the south island … OMG just beautiful …
You can always tell a company from their web site as it's their shop front of their business … first impressions are they need a good web designer and a better script writer … this type of business is getting sooo old now and with the forecast of property investing over the next 3 years these companies will not and cannot survive.
Minter Ellison just put off 35 staff including 5 senior lawyers … all these were from the property and finance division … hello out there are you listening or reading what is going on??? also listen to Steves new video he is saying SELL …
Lifecorp have NO licienses on their web site and any peopson working for LIFECORP selling or advising people on investing in real estate are BREAKING THE LAW even the stay at home mum … just call the department of fair trading in Queensland and give the names of the people selling real estate from this company and TDFT will check out their licenses.
WARNING : TDFT in all states of Austrailia are after these types of businesses … and the ownes are PERSONALLY financial liable for any loss or non desclosure of commissions which vary between 25 – 50,000.00
Do your home work and check each person very carefully … good luck and listten to steves video.
D
Hello Simple Philip here Danielle is in NZ
Can I have permission to respond IMHO
I believe a false sense of security is happening in the stock market – 80% of the market is from unsophisticated investors "hoping" to recover some loss. Robert Kiyosaki – love him or hate him" has some insightful points in his conspiracy of the rich book which is free online, please read and reference as you like.
We are in the bottom of a cycle however I haven't touched the base yet in my opinion, the top end will hurt more as time goes on as I believe most of the big boys and girls holding onto expensive real estate are in a state of denial, but that will change.
Mosman, Hunters Hill Peninsular, and the whole Eastern side of the north shore in Sydney is hurting really badly, and I believe after August 2009 the true values will start to emerge. HHP has dropped from 6.5 million to about 4.4 million dollars to give you an idea and that is from my personal research and is where I live also, ouch.
Yes I have two mercs, not to brag, recently a friend of mine in Brisbane purchased a 2 year old E55 merc for 38K the car was sold new at just under 250k … these deals are around and more are coming.
Steves new budget video is possibly conservative as a declining market can also create a negative or reverse vortex or implosion … possibly a depression if the G20 are not careful god forbid that ever happening …
New markets for the next 3 years, medical, plus 55, aged care, imaging centers, food, internet income business and on line shopping, gold, oil cotton etc.
Biggest concerns are borrowing money and job losses.
Read as much as you can, educate yourself in every area and invest wisely … god bless and good luck.
PS
Hello all time is a funny thing …
Is the economy improving?
Banks are tightening up lending criteria.
What will happen to interest rates up or down?
Will properties rise or fall?
D
Hello,
Yes you have a case …
You can access old council plans that will show public open space …
Go to the archives of LEP of the council …
If the council sold the public land without consultation you can sue them …
Get a good barrister and go for it …
D
Hello all very funny post,
Firstly who is the builder they are using … ?
Secondly what are the names of the sales people advising investing in property and I will give the link to have them checked out for you.
Thirdly who are the directors and are they liciensed to give financial advise to sell investment properties?
What is their financial services licience number.
Lastly ANY person buying real estate and getting advise from unliciensed people deserve to be conned and desereve to lose your money … caveat emptor.
Really people are you that stupid … listen to experienced people here … you can buy a cheaper property 6 months old in the same street and get the same tax benefits and save $40,000.00 in two tiered fees, go to realestate.com.au or Domain …
I can't believe people are so DUMB to believe an UNLICIENSED sales advisor – just report their names to the department of fair trading and remember
THEY ARE FINANCIALLY LIABLE FOR ANY FINANCIAL LOSS "AT LAW"
D
From a womans point of view who had several new kitchens …
I hate Corian … it stains and cracks …
Give me stone (marble) or granite any day … it looks expensive and very s.xy and thats why the TOP architects and designers use it … every thing else is second.
Do you drive a Holden or a Mercedes.
D
Hello,
My brother owns 19 motels … exactly what is your question.
Monolopy sell 4 houses buy 1 motel … it works
D
Hello,
Well the reason is that we are now in a world wide financial credit crisis and the banks (don't tell anybody) don't have a lot of money.
You are also young and your first lesson is to understand that markets change.
If you were a bank looking at your profile would you lend yourself the money and why.
Banks are a business and what they are really saying if you are listening is something like this ….. S..t the market is going to get worse, there are less companies with money securing funds with us, 80% of businesses are now trading insolvent, people are losing their jobs in the multiple thousands so lets make it harder for people to borrow money … whoska !!!
25 years ago I bought my first property and paid a 35% deposit from my SAVINGS so why should you be any different … i am not being harsh i am telling you the truth … learn to read between the lines and you will become rich.
D
So what do you think about this JImmyjim as your first post to the PI forum … most new people put a comment in with a link … welcome aboard if you are new.
D
Yes I agree,
This is what the unsophisticated investor is not seeing … we are living in a 90 year financial credit crisis crunch that will change the way we borrow and spend money.
BANKS are cutting back every where on businesses and commercial lending, they are pulling out folks read the papers.
Yes buy little cash flow positive properties or little shitters because that is where the money is.
Look at the number of quality builders going to the wall … we will neot feel this effect for another 6 months yet …
IF the market miraculously fixed itself tomorrow and properties went up 30% … where are you going to get the money and who are the buyers … CHINESE and other overseas nations are flooding our shores and buying the best properties at bargain prices …
10 years from now where do you see Australia … In fact the whole globe is changing so fast its hard to keep up with it.
This problem started with Nixon and it's not over yet … if you are aged between 18 – 28 your next 10 years will be very interesting.
The gurus are still preaching "its the bottom" or "the boom is near" if you believe these people god help you.
As a suggestion whatever they say get them to put it in writing and personally guarantee their financial advise because that's what they are giving you "unlicensed financial advise"
D
