Does anyone have any positive or negative experiences about teh Investors Club?
Hi Hotshot,
I too have considered looking at the investors club to source property but there are a few things to keep in mind. I haven’t got any first hand experience, only some factual information I’ve been able to gather.
My concern is that they are a club that has a private enterprise at its core. A business which has relationships with developers and a real estate agency. Neil Jenman’s website has a number of articles available on the club that are worth a read. Neil is known for his ethical approach to property. The articles can be found from http://www.jenman.com.au/NewsQuestions1.php?id=176
The actual club part of the organisation seems to be quite possitive (i’ve subscribed to their newsletter), though its the businesses at the centre that are a bit dubious. Particularly given that its titled a club, which generally means, not for profit.
It would be interesting to hear some first hand experiences though.
Originally posted by Hotshot69:Does anyone have any positive or negative experiences about teh Investors Club?
Hi Hotshot69,
I too have read the Neil Jenman articles re investor clubs. Unfortunately too many of these clubs have a hidden agenda which is a developer/agent team looking to flog properties to their ‘friends’ in the club. It’s amazing that they only ever locate new properties and not existing, tried and proven ones. Beware.
My advice is form your own relationship for investing with someone you know who is like-minded, and you know and trust.
Cheers,
MarcInvestors clubs usually exist to sell people properties. There is nothing wrong with it if that is what you are looking for.
If you are just after information an investors network group may be better. We run one in Adelaide, you can join through our website or just email me!
(no properties sold there, just information)Investment Property Management
http://www.adprop.com.auMight like to do a forum search on the Investors Club as they have appeared in many a previous post.
I promise you that Kevin & Kathy Young whatever they tell you are not doing it for charity.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.Richard Taylor | Australia's leading private lender
Does anyone know if there is a group of investors who get together in Perth? Not regarding hidden agendas, just people into property?
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Thanks everybody for the comments on the Investors Club. I’ve checked out a couple of properties that are similar to the ones that the IC is putting investors into. The selling agents reckon they are a fair price – or possibly slightly more expensive. I’m not totally convinced that group is the way to go.
Thanks for Dee Dee’s post re looking for a Perth property group. I’m after a group like that too – and if there isn’t an active group in Perth, I’d like to form one. With the market at or near a peak in Perth, I’m looking at re-zoning opportunites and small scale developments. I’d prefer something more than just an information exchange – but that will do for a start and we’ll see how it develops from there. Any interest anybody?
Thanks Dazzling! First, on the IC, my impressions are similar to yours. The people are all so amateurish and innocent it suggests there couldn’t possibly be any hard sell con merchants among them – the moms and dads are most convincing sales agents to newbies because they just look so honest. But, in the two meetings I’ve attended, I’ve never mangaged to get hold of any real figures from people to assess real performances. I suspect that their successes are not as big as what they seem and they take place over longer timeframes than most people imagine. And as we all know, anybody can make money in a rising market.
Yes, I like the idea of a nice cuppa and a chat with people with interests in property at these kinds of meetings – you just never know who you will meet or what you will learn. I do wonder, however, whether I’ll get bored with it all. We’ll see. I intend to go to a few more meetings.
On your experiences of a Perth Property Group, I take your points about reasons why it didn’t work – I can just imagine how it turned out – a bit like herding cats. I’m not sure whether those outcomes are inevitable or highly probable – but whatever the case, I’d still like to have a crack at it. I’m wondering in particular whether it’s possible to set some kind of parameters up that mean only like-minded people get together; or maybe you call for particular skills, as required? The problem is that I don’t want to be too prescriptive here. It’s possible that if you have an open-ended agenda that some people would just ‘connect’ and take off in ways that were never originally envisaged. But I do think it needs focus.
Has your past experince put you off the idea completely? Instead of going for a free cuppa and chockie bikkie at an IC meeting, can I buy you one instead! I’d like to pick your brains – perhaps that’s worth more than a chockie bikkie?! Tempted?
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