In API mag Cameron Bird advertise heavily, on back cover and inside. They claim that the following deals are a snatch:
1. $195000 for 2 fully furbished units that net 6% – returement village proped up by Govt funding for secure rental return & large depreciation ($36142 in first 5 yeas and $143475 over life of property)
2. Cash flow positive properties in a “regional city” 4br at $345000 fully landscaped allotments etc
Like a friend of mine always says, “it reads well”, which is a provate joke between us. But seriously, Id like to get into QLD market.
Anyone got any info on this company?
Jars
I am no expert and am but a real estate novice. Where I would begin with this deal is by calling the company and sussing it out from there.
I would be inclined to find out the exact location of the property/s and proceed to do extensive research on that area/s for myself.
I would be contacting independant agents around the area as well as searching through newspapers and the internet to decifer average property values, rental values and demand within the area.
I would not take this company and all it’s claims as true without the proof. I would obtain financial estimates from the company and run rigorous checks on these (baring in mind that numbers can be manipulated to back up their claims). In short I’d want to double check all they have claimed and some, to ensure they are not taking me for a ride.
My main concern with companies such as this one is, even if all they have claimed is true, with all their advertising, developments, commissions and associated employees &/or agents, they’d have to be getting their slice of the pie. A slice which will more than likely be funded out of your pocket.
Perhaps ask them where they make their money on the deal?
So, to sum up my opinion, if your’e going to spend all that time researching the company and the deal on offer, perhaps you’d be better of searching for an independant property deal yourself? At least that way you’d be maximising your profits by cutting out the middle man!
However, having said all this, I have not looked at the deal, I am not an expert and I have never heard of or had dealings with Cameron Bird.
I hope I have helped you, if only a little, and remember “if you don’t fully understand a deal….don’t do it”. KP.
In API mag Cameron Bird advertise heavily, on back cover and inside. They claim that the following deals are a snatch:1. $195000 for 2 fully furbished units that net 6% – returement village proped up by Govt funding for secure rental return & large depreciation ($36142 in first 5 yeas and $143475 over life of property)
2. Cash flow positive properties in a “regional city” 4br at $345000 fully landscaped allotments etc
Like a friend of mine always says, “it reads well”, which is a provate joke between us. But seriously, Id like to get into QLD market.
Anyone got any info on this company?
Jars
We looked at three different retirement village lots in Qld. One of them was through Cameron Bird. We asked the sales person how much they made, I think it was $15000 per lot (or unit?). That’s a fair bit and their lots were the dearest but it sounded safe and hassle-free as far as tenants were concerned, and had a small positive cash flow. Capital gains may be modest also.
They emphasis that their village management will be through a church group with good connections to the community – a good idea. However, check out their catering and linen cost – it appeared to be double what others were charging.
Also, financial institutions appear to be wary of these properties – ours will only lend up to 65% on this property despite the valuation being close to purchase price.The rest is secured on our own home equity.
We ended up going with someone else because we got a better deal.
We felt, after research, that these were a reasonable first-time investment idea (especially psychologically – fisrt time is scary) that is low risk, with modest returns. What do others think?
In API mag Cameron Bird advertise heavily, on back cover and inside. They claim that the following deals are a snatch:1. $195000 for 2 fully furbished units that net 6% – returement village proped up by Govt funding for secure rental return & large depreciation ($36142 in first 5 yeas and $143475 over life of property)
2. Cash flow positive properties in a “regional city” 4br at $345000 fully landscaped allotments etc
Like a friend of mine always says, “it reads well”, which is a provate joke between us. But seriously, Id like to get into QLD market.
Anyone got any info on this company?
Jars
Dragon, Which company checked out best for you? Are you QLD based? Which bank was best?
Thanks
Jars
Dragon, Which company checked out best for you? Are you QLD based? Which bank was best?
Thanks
JarsSorry I didn’t reply ealier, I havn’t been on the forum for days. We went with SunnyCove, $183250 for two units at Morayfield Qld. They have no middlemen marketeers,you can check them out at sunnycove.com.au (I’m not connected in any way to them besides buying off them[
]!). I’m Victoria based and using members equity home loans (Aus. wide).
regards
DragonI basically try and avoid anything “serviced”, like the plaque, be it aged care, students or holiday.
Reasons:
1. our very first investment on Magn. Isl., serviced hotel unit lost us 100,000, and we are still payiing for it.
2. Any capital gain will be linked to the rental increase or income generated and nothing else.
3. These “serviced” units all have managers in place, extra cost to you.
The running of the institution depends entirely on the management, good or otherwise.
4. You have absolutely no control over the investment.
5. Resale may be almost impossible, you will only be able to sell to other investors.
6. Financial institutions are reluctant to loan against this sort of product.On a psitive note, this one offers a steady return, entry into the market, it is an assett and fulfills a fantastic social niche.
Jars,
I also have 2 prospectus’ from Cameron Bird on my desk…one for the same investment for aged care hostels in Toowoomba and other for a holiday apartement scheme in Cairns.
On the surface, they both look good with the exceptional returns of about 6% pa. The retirement village is not considered as serviced apartments ( even though they are and its a bit of grey area) since you get a starta title.
I was told that there is a waiting list for similar old age hostel schemes in Towoomba but Cameron Bird would not provide rental guarantees, Also showed those prospectus to my bank manager (CWB) and he did not see any problems with bank financing up to 95% of the asking price.
So..which brings me to the conclusion that if after all the expenses I am getting $90 pw of positive cash flow, I cant go wrong….however I am positive that the capital growth would be quite ordinary or even non-existent for the first few years atleast. I also spoke to soemone at the church who are developing the project, but could’nt get satisfactory answers on the rental guarantee and opportunities for capital growth..!! hmm sounds like I am more confused than you are…!!!but anyway let me know if you find anything else about the projects.Regards,
Hello there,
Ahhmmm, who’s paying for Cameron Bird’s advertising?
In fact, I just threw out another unopened letter from them.
They’re properties look like they are in lovely locations. Why are they still advertising them 12 months down the track?
I advise you to read through the letters they send carefully. Do they actually back up their statements, statistics? Be wary!Cheers
Sooshie []“Giving is a Blessing, receiving is the bonus”
]!). I’m Victoria based and using members equity home loans (Aus. wide).
]The topic ‘CAMERON BIRD, QLD – ANY HEARD OF THIS CO.?’ is closed to new replies.
