The Investors club according to the West article..
The Investors club will soon celebrate its 10th Birthday , with 60’000 member families in Australia and New Zealand.
Membership is free and no fees are charged for services including help locating the right property, organising finance and ongoing support from fellow investors, monthly meetings and newsletters.
The club does this because it charges a fee of 6.6% to the vendor after settlement, so it comes out of their profit.
Vendors benefit because the club has a waiting list of up too 2000 finance qualified investors waiting to buy so they sell quickly, with reduced costs.
Property selection is critical and the club provides researchers, who focus on WA, QLD Sydney and Darwin IP’s that give good returns and CG. Near new IP’s: to take advantage of depreciation and tax relief.
They have Computer programs that estimate each member’s cash flow from day one. And they never, never sell.. Building equity and buying more.
The founder Kevin YOUNG retired at 27 with 22 IP’s and came out of retirement to teach his methods throughout the club.
There are meetings in WA in Willeton, Dianella and Kalgoorlie
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHmmm no responses?
There were a lot more at somersoft, see
http://www.somersoft.com/forums/showthread.php?t=18242I still haven’t been to a meeting, though i think it would be interesting and i agree with the last post’s and the fathers comments, the IC would be great if you knew nothing and needed assistance.
Does anyone have an opinion on the post?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi Redwing,
isn’t that what Derek is a part of?
I haven’t ventured into that arena as yet, as I’m still working on learning and saving for IP#1. Although I have a plan, I require the assistance of my father for the quick finance for the deposit and closing costs.
Are you part of it (the club) and what are your views?Cheers
C@34
Hi Redwing,
Thanks for the post. Sounds interesting as a business model. For me, the biggest issue is sourcing the right properties. I’ve got no issue with cash flow or equity, but my time is precious. If I could outsource the process of finding the right property then this would be a boon.
Worth a look for sure. Just gotta be a little careful that the properties they put forward are top shelf. Don’t mind paying a commission if they’re really that good, but 6.6% is insanely big. They’d have to be superior properties well in advance of anything I could find myself to justify that commission.
My first thoughts are, however, that they’re not going to be good enough to justify that sort of commission.
Cheers,
Michael.Originally posted by MichaelWhyte:Don’t mind paying a commission if they’re really that good, but 6.6% is insanely big.
The figure quoted represents maximum and the ‘average’ is less than this. These funds are also used to assist members immediately prior to and post purchase with services that make the investment journey smoother.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
does anyone have info on the IC in Darwin?[confused2]
I have been to a meeting of the investors club in Ashfield in Sydney, When I lived there, they seem to be a interesting bunch of people BUT they concerntrate on buying properties that are brand new and only go for alot of capital gain and depreciation( well the poeple that I met did). So its different. And you are right Redwind they do charge for their services and they charge the purchaser a percantage of the purchase rpice buty they have a minimum of approx $10K ( again just what I have read on the emails that I recieve from the group that I met) BUT what they dont tell you is that they actually work in with developers and they get a fee or “deal” from them too!, So its kinda of like having their hands in both cookie jars. ( I found this out by doing some digging of my own)
(By the way its illigal for Sales Agents and Australia to get two fees from the one deal, but they seem to be able to do it).hope this ironed a few more truths out.
HC
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