Dear LLJackSounds to me like you didn’t spend your dollar and check the Newstext site. As for ASIC, you may recall that Henry Kaye claimed ASIC had given him a clean bill of health. And then – kapow!
As a client of the Investors Club, you have a psychological need to justify and protect your decision. I understand.
All I am saying is that anyone thinking of dealing with Mr Young needs to know a bit more about how his so-called “club” operates. For you, it’s too late; for others there’s still time.
Here’s a prediction for the New Year. Mr Young and his “club” are going to be more widely known this year. Take the hint those of you who are not involved with Mr Young.
Stay safe.
Bec
Hi Bec:
I too experienced same problem with Fibejebe. Could not find site.
I have been aquainted with Kevin Young for the three years with no complaints. All properties perfoming well. I was almost stung purchasing off two tier marketer. After doing homework, no.s didn’t stack up.
My last purchase disclosed commissions to which club receives. They have been surveyed by AC Neilson which has come out most favourable.
So I believe I have a fair idea how the club operates.
As you can see I am happy with the club and the services they provide. Like youself, it may not be the type of investment for everyone. Each to their own.
To wrap it all up, I don’t have to justify or protect any decision I have made as to your comment.My family and I sleep soundly.LLJack
The investors club and it’s spinoff WISE are there to make money. The bottom line is to do it yourself and cut out the middle man. The investors club and WISE work as time is a good healer. It’s probably better to pay someone a spotter’s fee than the huge paybacks investors club and Wise dealers get.
Hey, it’s all in Steve’s book
Spider
I have had a read the comments of Rebecca are a breath of fresh air. while I ahve not put in the hard yards and read all the info. I personally believe that there is no easy road. You need to do your own research and find the deals. No one is going to find them for you as if they did why would they tell you. Their moitve is I believe to help themselves, sell some books run some cources…mayby even sell some realestate
There is nothing worng with your local agents why no go to then directly to find a deal. If you feel you ned to travel interstate i would argue to tread lightly as distance will make it hard to monitor your investments. I personally fully manage my investments including tennancys, maintance and improvenents. yes it takes up a lot of time and is dirty, stressful and just plan hard at times but it works well and gives a good return. There are no short cuts!
Thanks again for posting Bec it is good to have a balanced view.To Brisbane southside
How sweet of you to be so kind to me. You’ll have to be quick sometimes to read my views, however, as they often get cut or deleted on this democratic forum.
Have a safe 2004.
Bec
I agree that if the deal stands up then the amount of commissions involved is irrelevant. The point is that they project an image as a club – when I attended my first meeting the message certainly seemed to be that this truly was an Investors Club – not a real estate marketing agency. Given that their agency fees are so high, you have to wonder if buying a unit on the other side of the country (sight unseen) which includes above market agency commissions can really be the best deal you are going to get. Just do plenty of due diligence and obtain your own independent valuations. Don’t let them sell you it on the basis that some unit they sold 1 year ago has gone up by some fantastic amount – as someone else eluded to, a boom market can disguise many questionable purchases, especially if you never have to verify it by actually selling the property.
You’ll have to be quick sometimes to read my views, however, as they often get cut or deleted on this democratic forum.Have a safe 2004.
Bec
I guess Steve has to protect himself from your slanderous comments that have absolutely no factual basis. Sure, you are entitled to your opinion in a democratic society. But to start and/or spread malicious gossip without foundation is not really acceptable here in Australia.
If you have genuine concerns about KY’s business practice then either show proof or quit whinging.
Fibejebe
Apologies to anyone who found my tone harsh in the previous post, but I kinda believe that if you have something to say, then say it. This dropping hints and innuendos is not really my style. We are all adults here. No way are we going to agree with everything every one says. But if you have an opinion, either express it directly or shut up. Don’t just elude to something.
Fibejebe.Huh?
Didn’t you read these words –
To Fibejebe
The articles are in The Courier Mail. The journalists who wrote them are all top notch.
Cheers
Bec
If you find that slanderous or spreading malicous gossip then my reasoning must be a bit out of whack. I am trying so hard to be a good girl. But you’re making it tough for me. Stop it, Bec. Yes love, I am coming now.I am senciung some deep hostilities and changes in opinion Bec, One question I always ask when someone tries to sell me something or offer me a service is what is in it for me…what is in it for them. The agent wants the commission, the club is funded largely throught its members so wants more, is there other funding??? This verry forum is run by people with a common interest. I have notice in my time here all are verry fond on positive geared properties (who isnt I am) Wraping is also an ongoing factor and the belief of win-win deals. I have noticed most have read books around investing some state several times hence site is created from book, users reflect book views. (of cource they bring their own views). Motivations is definitely a key factor. I have found the Forum interesting as I have a varied background in investment. I feel to be most profitable you need to cut out as many middle men as possible. Everybody has a motivation. Keep up the debate it keeps it real. Bec yoiu can contact me via e-mail if views are not up to this public’s taste [email protected]
Same old same old..YES I agree we can all find our own properties, and I really don’t think it is that hard. However, some people lack motivation, don’t have the skills required or are just too busy, or for what reason it just don’t matter.
I have lawns in my yard and if I don’t get time to mow them I hire some else to do it and gladly pay them for their time.
I’m sure every one in this forum has hired some one for what ever reason be it a plumber, electrician mechanic, etc etc, I was once the type of person that did everything myself to save money, but later in life realised it was costing me money as my time was more valuable spent in other areas.
Dont judge others for the way they choose to live differently to your own life.
Regards Bear
I am senciung some deep hostilities and changes in opinion Bec,Not so much hostility, more like frustration I would say. I just haven’t got the time to play games. If you have an article of interest to others then give the URL of the article. As I have mentioned, I looked for the article Bec was referring to and the search returned the response “No articles found. Please enter another search.” I haven’t got time to waste looking for a needle in a haystack.
Keep up the debate it keeps it real.I am all for debate, but I feel in this thread we have nothing substantial to debate at this stage. Long time since I was at high school, but in those days (in the debating team I was in) we had to provide evidence to back up our argument. That is what distinguishes a legitimate debate from a verbal brawl (in my opinion.)
Fibejebe
heheheheh Fibejebe I to was on the school debate team not to mention the captain of it ..LOL, im told there are still videos used at that school of me debating to teach the students of today..LOL OMG I don’t know if I like that or not, however I remember the teachers use to take great pleasure in making me debate things I felt strong about but on the opposite side to my beliefs. That was a great teacher for me in early life to realise there are 2 sides to every argument and both sides can actually be right.
Regards Bear
I remember the teachers use to take great pleasure in making me debate things I felt strong about but on the opposite side to my beliefs. That was a great teacher for me in early life to realise there are 2 sides to every argument and both sides can actually be right.
Regards BearAwww Bear,
What are you suggesting here? That we should ask Bec to debate the positive aspects of wrapping?? []I think the best thing about debating at school was that it made you go out and do the research. Probably one of the few things we were actually taught that followed thru to adult life. Guess it equates with the term due diligence. And yes, the fact that I don’t have to be wrong in order for you to be right is the win/win principle.
Fibejebe.
Fibejebe,
Heheh I knew u weren’t just another pretty face.
Hmmmmm maybe im saying that us bikers are just argumentative ..PMSL[:0)]
Regards Bear
I think win/win is not about right and wrong… it’s about finding commonalities between people- it’s not saying both are right… bullying- also known as a few people ganging up on another- is tedious for others to watch, by the way.
An article from the bulletin mentioning kevin young states the following:
Lack of regulation has forced ASIC into a situation where it has to nibble at the limbs rather than go for the jugular. In March, it had a minor success in the Queensland Supreme Court against The Investors’ Club and its directors, Kevin and Kathleen Young, forcing them to drop a couple of their schemes, Joint Venture Projects and the No Tenant? No Problem? Program, which were unregistered managed investment schemes. The Queensland-based property club offers members throughout Australia and New Zealand property investment opportunities and services, including the two now outlawed. “This does not affect our únormal club business,” Kevin Young wrote in the club’s April newsletter.
http://bulletin.ninemsn.com.au/bulletin/EdDesk.nsf/0/B7EF9A573E009A1ECA256D270009B77B?OpenDocument
kay henry
In March, it had a minor success in the Queensland Supreme Court against The Investors’ Club and its directors, Kevin and Kathleen Young, forcing them to drop a couple of their schemes, Joint Venture Projects and the No Tenant? No Problem? Program, which were unregistered managed investment schemes.Thanks for the link Kay Henry. I was aware of the schemes they had to drop. There is a link in my first post with a more detailed history on it. https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=3199 (Rowan W’s post) Are you aware of any other problems with “The investors club” and Kevin Young? As other’s have mentioned, like all investments, do your DD and get independent valuations.
The remainder of your article posted was also very interesting. Looks like there could be huge ramifications – especially with a major bank being accused. It said it should be finalised by the end of the year. Are you aware of any conclusions to date?
Fibejebe.
naaa Fibejebe, I’m not privy to anything else about the topic. I just looked up “kevin young real estate in google.com (australian sites only). I often look stuff up
kay henry
Totally off topic (again) [
] but it pays to periodically look yourself up on a good search engine. I use web ferret. I gave a deputation to council last year and a couple of months later did a search on my name and found they had put my details on the net – without my permission. I phoned them and asked them to remove it, which they did.Fibejebe.
Fibejebe,
I look myself up on google when I’m *really* bored- a bit of self-stalking is good for the old self-esteem
kay henry
There is nothing worng with your local agents why no go to then directly to find a deal. If you feel you ned to travel interstate i would argue to tread lightly as distance will make it hard to monitor your investments. I personally fully manage my investments including tennancys, maintance and improvenents. yes it takes up a lot of time and is dirty, stressful and just plan hard at times but it works well and gives a good return. There are no short cuts!
] but it pays to periodically look yourself up on a good search engine. I use web ferret. I gave a deputation to council last year and a couple of months later did a search on my name and found they had put my details on the net – without my permission. I phoned them and asked them to remove it, which they did.You must be logged in to reply to this topic. If you don't have an account, you can register here.
