just wondering if anyone has had any experience with the cashflowcapital.com.au people?
They certainly seem to have a lot of CF+ properties available.Are they buyers agents (it isn’t clear on the website).
I appreciate hearing about anybody else’s experiences.
Thanks
RLI have just found that website too. I googled Spiro Kladis’ name and found an Industrial Relations Case he was involved with but that is it.
i also found another fourm question from Ollie on this website but can’t find the replies in past forums.My concern with any of these types of sites is what the rent demand is like in the area they have a property for sale. I couldn’t find any stats on the abovementioned site regarding rental demand. They mention rental income as a criteria for a good investment, but that’s it. I suppose I can do some reswearch on the area to find this out, but if I’m doing that, I may as well find my own properties!
For example; I found several cfp properties in rural Vic 18 months ago, maybe could have bird-dogged them for a couple of gees each I guess, but you wouldn’t touch the area with a barge pole as the towns were all but dead. Good luck getting another tenant when the current one moves out, or at the same figure.
Add to that the fee they charge for finding the property for you and I feel these are packaged investments for the not too motivated to do it themselves (lazy), or the time challenged (too busy), and you pay a premium for that.
You give up control and this makes the deal more risky in my book.Cheers,
Marc.
[email protected]“we get sent lemons; it’s up to us to make lemonade”
Hi,
I have talk to Spiro and to a few other sales type people. They are buying agents, located in sydney and they charge 2% of purchas price. that is on top of….
also they changed recently and now charge you or ask for $500.00 up front…
Spiroseems to be a nice guy. I myslef prefer to do my own due dilegince…. that way you learn while you earn…Happy Days
Beck[hair2]
Hi I have spoken with Spiro some time back and yes there is a $500 up front fee which I thought was a minimal loss amount if chose not to go any further. The rest from memory is paid on settlement.
He also informed me that the properties on the web site were only a part of what he has access too. At that time he also claimed that at times has properties from developers that he does not charge for as is paid by the developer, I gather this is off the plan type purchase but did not follow up on it any further.
Yes he is a buyers agent
Wayne
Mortgage Adviser
Email [email protected]
http://www.alphamortgagesolutions.com.au
Refinace, Loan Consolidation, Owner Occupied or Investment Finance. Free Service we come to you!They certainly aren’t very good at returning emails. I made enquiries on several properties last year and didn’t get a response? I also would prefer that they provide more detail on the location and price of the property.
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
I subscribed to the email list just to see what’s going and for ideas. I did notice a couple of places advertised that I was already aware of myself. One was a unit on the Gold Coast which had advertised large rental returns, though from my figures was based on the potential holiday letting of the unit with a very high occupancy rate, which just doesn’t happen in reality. The other was brand new units about 2 kms from a brisbane university which was clearly designed solely for OS students. For those who know the area the location wasn’t particularly good and the block would see limited capital growth given the asking price and surround properties. I also believe the advertised return was somewhat overinflated. It seemed to me the units were aimed at interstate “investors” looking for something in QLD.
However, there is still some merit in looking closer at some of the places they advertise, but only within areas you have already familiarised yourself with. IMO anyway.
There doesn’t seem to be many truly CF+ IP’s on the site. Those that are there, are sold already. If you have to use some negative gearing then i don’t think they are really CF+. Your thoughts?
When I sent them an email recently, I had a phone call from Spiro to follow up within a couple of days (which I thought was good – actually, I didn’t have initial high expectations about getting any response at all!).
A key thing that seems to be missing in these forum answers is that Spiro said that the properties that are displayed on the website are EXAMPLES only, often already sold (although some are still available), and intended to give the visitor to the site the ‘flavour’ as to what they have available in their folio. The really good ones, and the ones still for sale, and the ones that, apparently, they will actively source for you once you pay the subscription, are only available once you have actually paid the subscription. There are new deals coming in daily, that you will never see on the website.
I am time poor. I earn more per hour than I wish to put into learining <every single detail> about property investing that I would want to learn before I act. In other words, I fully believe in 110% due diligence and research, however I am prepared to pay a premium for an expert to do some of this for me. If Cahsflowcapital can offer this (and I don’t know yet that they can), then I’m prepared to stonrgly consider using their service. Just because you don’t do everything yourself, doesn’t mean that somehow the deal isn’t a good one. Perhaps this method is even smarter than those who decide to do everything themselves?Afterall, even Steve McK says that you should surround yourself with a good team, not just be a one-man band. Why shouldn’t this team include a buyers agent such as these guys? I will always cross-check their recommendations, but if they can do the bulk of the ‘grunt’ work for me, to me that just sounds efficient and smart?????
As far as their commission goes, I reckon there is a fair chance that you would end up paying less overall if they acted on your behalf than you would by buying through a traditional agent. At the end of the day, you are still in control, so you wouldn’t sign anything unless you had squared it away.
Finally, you could always trial the purchase of a ‘small’ place through them to start with, and see how it all worked out. No need to spend six-figure sums off the bat…
I’d be keen to hear from someone who is actually a member, and has bought properties through them, and how they are going, than further speculation from non-subscribers. In other words, some testimonials from a source other than their website.
Any volunteers (please)?
Hi,
I have spoken to Spiro a number of times this year, trying to work out whether his service would add value to my portfolio.
At all times he has been reasonably quick to respond, quite helpful and easy to talk to. I am 90% of the way to becoming a member, just need to bed down another couple of other projects first before I finalise membership with Spiro (if I do).
Initially I asked him to provide me with 5 contacts that he had sold QLD property to ( as that is my area of interest).
It seems the man’s enthusiasm is infectious as 2 of the 5 I spoke to had actually signed on to become part of his business since december 06. A third has become a mortgage broker and now associates his business with cashflow capital. In each case this came about after initially having purchased through cashflow capital in the preceding 12 months.
A chicken and egg situation. were these people so genuinely happy with their experience that they became part of the business. Or now that they are part of the business, does it seriously compromise their opinion of it??????? Quite frankly the jury is out.
The other 2 contacts had differing investment goals, differing exposure to property investment and one lived in WA.
All were quite happy with the service they had recieved and all 5 said that their first contact with Spiro had arisen due to their desire to buy a property and their contacting him through his website.
The appeal for me is three fold
Firstly Spiro apparently provides reams of up to date information, websites, RP data reports etc on the particular area you are interested in. It gets me a long way in front with my DD, if someone has already compiled a host of relevant info. Particular points of interest I naturally cross reference.Secondly, if his network is as good as he says it is, there is a time advantage in that you could well find out about the property before the broader community is aware it is available.
Thirdly, there is the time and money component, I live in remote queensland. To fly out of this place at the drop of a hat, will cost me no less than $800 more likely over $1000 and once I get there I need accommodation, food, and transport. Then if what I see is not what wanted or my offer fails then that is all just dead money. the tax man isn’t going to give me a discount either. Using Cashflow Capital or someone similar reduces the liklihood of this happening.
Is his service, all he says it will be? I have no idea. If I do go ahead with this I will be sure to put an update on the forum
cheers
Rav
On a more personal note; I have met Spiros on several occasions about 3 weeks ago through mutual friends in Greece and I consider him to be full of integrity, enthusiasm and wisdom.
The moment I launch my business in Australia, he will be the one person I will contact.I wouldn't hesitate for a moment to recommend Spiros to anyone in my personal and/or professional network.
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