Forum Replies Created
OK so this company ABC is a mortgage company who profits from selling people investment properties … I have just gone through their web site
Is Bryant the underwriter of their products.
Was the SALES person a broker of fully licensed agent or financial adviser …
Joanne if you give us the sales peoples names we can check out the qualifications and personal history.
Secondly Jo your figures are misleading and that is why you have so much negative feed back … it's not that people here are negative but the experienced people on this site smee the rats very quickly and know ALL the scammers … if you came here first you will get some incredible advise and assistance …
It's your money darling and we are trying to help so give me the blokes full name … please.
D
Hi Kevin …
Firstly I see u r an accountant and a finance broker … this is a potential conflict as well i think.
Secondly this has been a past bone of contention for many years … etc
I know many accountants who refer business to other independent companies and get a referral fee … this could also be enticing or guiding the client as well. It's not just accountants it is many professional services. I don't mind the referral fee and passing on business but i personally mind double dipping and charging huge fees like "Sample and partners" and others do/did etc
Personally IF the one stop shop provided and ethical service and saved clients money and time thats fine by me.
All services should be free and all commissions and trails should be legally disclosed.
We ar currently lobbying to the respective departments to have unlicensed finance brokers selling or recommending investment properties. There is currently a new disclosure certificate being drawn up by the department of fair trading to cover this. There are still finance companies making money from investment property commissions selling for and on behalf of desperate builders … very soon every builder will have to sell via a licensed agent and every real estate CONTRACT will have a disclosure on the front page of who sold, recommended the property to them including their indemnity insurance and lic. numbers.
Things are closing in but we all kow how slow the ASIC – ACCC and Dep of FT are.
So I suggest you call the above departments and get clarity then advise us here to your findings … In short it only comes back to two things Money and Money
Sophisticated and or Unsophisticated investors … or poor mum and dads who get sucked in by hungry slick lying two faced opps haha
One stop for me "Yes" as long as all fees and charges are properly disclosed.
D
Hi Kevin … if it sounds tooooo good to be true it often is so may I inquire to the name of the other gentleman who is the land banking entrepreneur … D
Hello Simple sorry for the delay and hello again, my brother in law has been diagnosed with Myeloma (Bone Cancer) and this has thrown the family into turmoil as u can imagine. He owns 19 motels and lots of other stuff and has been an inspiration and mentor at the highest degree, no he has never done investor seminars he actually detests the people that run them, funny how indifferent people see this haha.
All the money and property in life will not keep us alive forever so embrace each day and enjoy.
As you know I work for Philip Sigglekow as a research specialist and I believe that there is some miscommunication out there.
Firstly there is a lot of talk about dropping interest rates however people fail to understand that the rates will still be above 8.5% which is up from 6.5% of recent times … there for my point is afford ability … factor in a 9% interest rate, harder valuations, tighter lending criteria and you wipe out 50% of the investors.
Secondly 30,000 people per month from Sep/July will be refinancing from fixed home loans and this smells more trouble over the next 6 months IMHO and thats just with ANZ.
Generation X and generation Y have some creative challengers coming up.
What am I doing … We are negotiating on several large sites in Turramurra, North Turamurra, Gordon, Hunters Hill for development into aged care, town houses, and large prestige homes.
I am selling down 3 investment properties to increase equity and cash flow … We do not believe that property is a long term buy and hold strategy, we believe that property like the stock market should be sold and cashed in then reinvested into bigger fish.
In the next 5 years Australia's population will grow by 1.6 million people, now this is interesting with lots of opportunities.
We are also working with a Chinese company who has developed modular housing and we are interested in Mining Towns and plus 55 housing in community titles, actually we are planning 550 at Bathurst with bowling golf and community shops.
So life is busy and hopefully prosperous … take care Simple all my best D
Hello all and an interesting read,
I know Mark personally and have been dealing with him for over 4 years … Mark has found deals for my group and we have made great profits from them and him, without his help this would not be the case.
There is in all business people who are left out in the cold and stranded, and this is sad to have happened via Massland as some have found from reading above. I would say that Mark is taking this on board as I believe he has a good character and high values to rectify this for the sake of his future reputation.
Not everybody likes you in this business when you chose to become a leader and a prophet. If you ask Donald Trumps staff what they think of him I am sure you will get a mixed bag of reply. or "you're fired"
When you attend $49.00 seminars you will find $49 dollar people and when you attend $5k events you will find different people. You also have the choice to network with people and build your own company like Massland, which is what it's all about, 5k is cheap in this business of property developing. My solicitor just did a new put and call agreement for me which cost $8,800.00
Marks business has grown very quickly and as a result of this some pressures in administration have emerged, anyway he's a good bloke with good intentions in my humble opinion and I've made money from him. My strategy is a little different as I enjoy optioning the properties doing the conceptual planning then revalue and on selling without becoming a builder with the head aches.
Good luck with your choices, I would recommend doing his one day event to get a taste of the bigger picture. Kindest Regards to all PS.
You won't find leaders amongst the crowds, they fly out in front.
Yes great comment Jon about the Victor Mower – now they are made in China ! go figure that and if you told a person that in 1957 you would be laughed at … ha ha how about the price of a house in 1957 with times earnings to yearly wage?
Bardon you are soooooo funny that means your granny was/is a high flyer as well … hope she didn't invest her super into "Westpoint"
D
We have RP Data for all of Aussie and NZ cost is about $70,000.00 … well worth the investment
D
Hi K&R
A property is only worth what the market believes its true value is on the day … boom or gloom …
To maximize the value of a property SPEND money to make it look its very best … just like a girl does when the go to the beauty parlor …
LOL … Daniela xoxo … Karl spend of money on Rita and your value will go up!!!
Wouldn't that be great K … maybe we could eliminate Lawyers as well because they interperate the law to keep them employed IMHO … why is the family home soooooo different to other financial vehicles …. because its the GREAT AUSTRALIAN DREAM and thats the key point.
D … just kidding …
Oh by the way Mike Y … Philip is not writing these he reads this forum from time to time so you don't need to email him as a worried sole … He has given me a message for you … He said IHHO when u started out he thought what a great bloke and a fresh approach … and now what a shame another nice one has fallen victim to the trap … Michael how can you HONESTLY publically announce that the property market has FINALLY bottomed … you are on record now for 18 months saying this, maybe you will get it right soon and then say "i told you so" … OUR prediction is the market will WORSEN b4 it improves … Read the financial news from around the WORLD Mike not just from Victoria … Petrol at $2.00 a litre interest rates UP AGAIN b4 the end of the year, and other stuff only a financial analyst would understand … Mike if I bought a property under your ADVISE will you personally guarantee that by the end of this finacial year it will not drop in value … lets say a property in western suburbs of Sydney as a MIDDLE class subject and if it does drop you will PAY me the difference …
You look great for a 56 year old … and Michael your newsletters are superbly put together … keep up the good work minus the outlandish statements and yr got my vote. … D … LOL
What I can't understand is how DUMB these guys are and how they are ruining their reputation and using OLD worn out sayings to attract new wood ducks into their seminars b4 they sting them and make an over priced sale …
I wouldn't waste my time attending their rubbish and I think they are doing them selves damage posting her because for every negative response people will tell 10 others to stay away.
OPM – OPF and make a FORTUNE TODAY !! only thing missing here is the fortune cookie from the ALDIGROUP … where's my petrol voucher then i'll turn up … ha ha suckers
Hi Jon and I believe this is my first reply to you … you look like a nice man in your photo and i'm sure one of the good guys …
Jon it's like this … this industry is full of low scum bags robbers and thieves … thats the problem this industry has attracted … SLICK SALES PEOPLE … like
Bridgecorp … Fincorp … Christopher Skase … Henry Kaye … etc etc how many can we add to Jon, possibly pages and pages …
Jon these people have been scamming the unsophisticated investors (uninformed mum and dads etc) for years … people that don't have a accounting back ground or financial services qualification … this industry attracts lots of deveats … thats the point Jon.
You and many others may be one of the good guys, like John Fitzgerald and Peter Spann but the truth is Jon history shows that over 80% are on the news for the wrong reason … Neil Jenman right or wrong has exposed many of these people, even him self.
The ASIC and ACCC are tooth less tigers just look at the mess over Kovlin Bangaroo … it took an angry client to drag him back to Australia where he is in JAIL for cheating and has ruined like so many a wonderful industry and made our reputations even harder … oh I have 3 diplomas – advanced certificates in 2 industries and am compliant in 3 states of Australia and i specialize in Real estate Research with a love affair in commercial.
D … make them accountable when they make statements to the PUBLIC … put it in writing and sign it then give it to a solicitor … don't use leverage to make a sale to an unsophisticated investor … we are dealing with peoples future savings.
Oh great are we allowed to advertise property investment seminars on this web site …
In the week end papers I saw 3 FULL page adds for the same stuff … secrets … seminars … how to …. oh god not again isnt this the 21st century … aaahhhhhhhh!!!!!!!
This site is getting tacky if Steve allows this to go on … not very elegant and classy any more … where are all the oldies????
D
The down fall in all of this was and has been easy CREDIT … 100 percent loans for home owners and investment properties … thats what got the USA in the s..t banks and brokers greedy to make commissions and now the problem is a long term depression … sure property prices will rise again but not before there is lots of blood on the streets … yes there are always opportunities and gurus selling their stuff trying to upsell the market and keep it positive like Metropole Properties … just get these these guys to sign a letter of understanding and advise and personally guarantee any shortfall in case the market turns against their claims … remember these and many others are giving advise to the unsophisticated investors … great times ahead if you are educated and smart … lots of great comments in the thread and very good opinions …
Message ahead is to tread carefully, prepare for opportunities and seize the day … good luck and best wishes to you all reading this thread … D
yes it all comes back to financial education … 12,562 bankrupts in the last 12 months in NSW alone … yep worse to come … D
Very interesting read in the Tele on Saturday … 12,562 normal people declare bankruptcy in the last 12 months in NSW alone … financial education needed here …
D
lots of FREE eBooks on http://www.apin.com.au … regards D
Yes the world is a changing place … in times of uncertainty it always pays to go back to the basics …
I attended a seminar in Cronulla Sydney for a new network group that is setting up Network Clubs around Australia and involving the local communities to attend. One point was made that we lose of sight of the big picture and need to focus on happiueness first when investing … very interesting …
We need to build smarter housing and not huge 6 bedroom with big pools and huge mortgages …
Just a thought … D
Nope don't agree at all and you can hold me to this as well …
900,000 will be in mortgage stress by November 2008 … Fin Review … fact
Australian Credit Card debt is now 50 billion dollars which is the highest in the world … fact
It's "patchy" every where and not just in Sydney … welcome to the real estate business … very open statement
Western suburbs are being hit with RISING rates and not falling rates … petrol is closing to 160 per litre … toll ways have increased and the cost of living has jumped but wages are behind … mums and dads out west are hurting big time.
Any body can buy a block of land in Turramurra for 600k then get a 40sq/m 5 bed 3 bath Westminster built and landscaped for around 400 k and resell it for 1.3 – 1.6 million … quality North Shore suburbs always work and you don't need to be a rocket scientist to do it
There is a credit squeeze on major corporations for over drafts with drawls and administrators are having a field day, I could mention some companies but because of privilege and my qualifications I am unable to …
So I think there are some challenging times ahead … and I don't think it's getting better yet … lets see who is right and who's wrong.
Good luck to all … D
Yes brokerage fees … I think the public are getting smarter though why would I pay a 1% fee when I can go direct and not pay it …
I also see today the St George are introducing a broker performance fee structure … looks like brokers will need to get a second job soon …
The problem has always been that when you are in a competitive business people discount for business like 1% real estate fees …
D
Hello go to http://www.apin.com.au for a FREE eBook on DIY developer …
D
