Anyone had any dealings with these guys or heard of how they are?
Seem to be some decent deals there: http://www.richmastery.com
Comments appreciated …
Hi Adam
Welcome to the forum.
Try using the search function for further information about Richmastery.
Regards
Hi adam
first of all before i start i should declare my hand i find properties in NZ as does richmastery.
i have never dealt proffessionally with them but have seen some of there deals, what concerns me about them is 2 things 1. they charge $3995 for finding the deal, a lot i think. considering others such as Minimogel does it for the same price we do $1200.
2. they always state the property is x amount below value, i find that really difficult to accept. i wonder how accurate the valuations are ? it means nothing if a valuation has the property at $250k yet if it was put up for sale it would only get $220k the same price that you paid for it. I wonder if another independant valuation would agree with the one supplied by richmastery ?
So the valuation they put on the property might be something you could look at, compare the property with what price comparable properties are selling for in the area. If infact the value is 20k below market value then of course a 4k charge is certainly worth the cost.
i am not seeing the NZ market as a place where you can easily pick up properties 20% below what comparable properties are selling for. unless they are more clever than me at finding deals i am sceptical.regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
hi westan,
mini here, we actually charge 1500 now. But we include title search,as it has to be done within 5 days of the contract being signed, 30-40 photographs of the property, and a lot of service. so we believe it is good value.
Adam, “I wonder if another independant valuation would agree with the one supplied by richmastery ?”
Well spotted. Exactly – you are being charged through the nose for due diligence that is not what I would call independent.
Also their contracts are unconditional I think.
No harm in contacting them and asking all the right questions……………………………………………………………………………………………………………………………………………………………………………………………..
NZ Bird Dogs. SOLD OUT! More deals coming…
Hi Mini
$1500 wow, but still over 50% below the opposition. actually half price and $500 cash. and knowing you i’m sure your service would be better than that offered by richmastery.
regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
Hey is anyone reading the forum connected to rich mastery ?
it would be great to hear your side of the story. In particular why the $3995 charge and what does that give you ?
regards westanI find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
Yeah westan, you’re undercutting us, hehe
No we had to put the prices up because our (cheap) lawyer wasn’t cutting it and we had to use a different more high powered lawyer who is a little more expensive, but gives much better service. plus like i said we include title search. So more security for the purchaser too. Also after costing out the time and the cost to source the deal and see it through to completion or at least give the client as much assistance as they want, cause as you know the after-care period for each deal is quite lengthy…anyway so far so good and we might introduce a loyalty discount system for repeat clients.NZ Bird Dogs. SOLD OUT! More deals coming…
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