Hi,
I have come across Quartile Property Network (http://www.quartile.com.au) which sounds like it offers quite an interesting and valuable service. They claim to do a significant amount of research and then recommend investment in specific new property developments. Much of this is based on the strategy of choosing the right time to enter the market and choosing the right area.
Has anyone had any dealing with Quartile, good or bad? What is their business model (how much do they charge?, are they objective in their recommendations or do they have a financial interest in the deals?)
Thanks,
Luke
Hi Luke,
I purchased a property through Quartile quite a few years ago, and have sold it since. I continue to receive the Quartile email newsletter.I found Quartile to be a honest, up front organisation. The group was started by the father, who is apparently quite well known in Sydney circles for the large property holdings he has. His son was running the business and I presume still is.
Their philosophy is to buy off the plan or just after completion select developments. They are negatively geared, but not highly. They aim to do a good deal with developers for their buyers. They make their money in two ways (which they are open about): they get a cut from the developer on sales, and they hope you will let them be your property manager once you have bought. I don’t recall having any issues with them as managers for the time i had a property with them.
The were two big things I liked about Quartile. They stopped recommending property altogether in Sydney when they thought it was over-priced. At one stage I recall they had almost nothing on their books on offer, but they just waited until they cound stuff in other markets (Cairns, Melbourne……east coast areas). The other positive I took from them was that (I hope) they planned to make a bunch of money out of you being the managing agent, and if they sold you junk you would be unlkely to remain with them when you found out!!
Craig.
Craig,
Thanks for your very helpful response. I have since had a phone conversation with Quartile and formed a similar opinion to yours ie overall they seem honest (although no mention of ongoing property management yet!).
I would be very interested to understand some of the details of the property they recommended to you (location of property and what capital growth you made and over what period). Also would you deal with them again?
Luke
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