Hi,
Just wondering if anyone has heard of or had any dealings with Property Secrets?
There is a seminar tonight they are holding and dont know wether it is worth my while going?? im a bit scepitical any help would be fabulous!Charli
If the presenter begins to tell you how to become a property investor for only $50 per week, and you can secure your future through property investment and negative gearing, then you know that they are there to try and sell you one of their properties that they are selling on behalf of a developer.
The big ‘property secret’ is that you don’t know this.
Most of these “seminars” are the same thing – just a sales pitch for properties.
The properties are overpriced, they usually offer a ‘rental guarantee’ which is built into the price and the presenters are on big commissions which are also built into the price of the property – you are paying for that.
If you go, DO NOT sign anything or leave any details.
If you want to have some fun, stand up half way through the presentation and ask if they don’t mind if you get INDEPENDENT legal advice, finance, and valuations on the properties.
This is bound to be achieve a frosty reaction, and if they baulk at this ask why not?
Cheers,
Marc.
[email protected]“we get sent lemons; it’s up to us to make lemonade”
So true Marc. There is one mob doing the rounds at the moment on our local radio station, saying how you too can get into your very own investment property for as little as $20 p/wk and we’ll guarantee the rent if its ever vacant….Yeh right come in spinner.
Charli here’s an extract of a document off our website called “Property Secrets”
THE NUMBER ONE SECRET OF SUCCESSFUL PROPERTY INVESTING IS ….That there IS NO SECRET!
We’re sorry to tell you, but you will not find any one book, CD or seminar that tells you the magic secret method of how to become successful and wealthy through property investment – BUT these sources of information can provide invaluable information, advice and ways to succeed in property investing.
So if there is no magic secret, how do property investors achieve their success? Your best approach is to read, listen and attend seminars in order to gather all the information you can, including this Website.
Ultimately your success depends on one thing – YOU!
Every property investor can benefit from the following:A plan with clearly set goals – both long term and short term
A positive belief in your abilities and a clear expectation that you can achieve them
Knowledge and research – lots of it gained through reading, seminars etc
Action!! – Don’t just sit around – do it!
… and will find it harder to achieve success by:Failing to adequately plan, research, set goals
Speculating and making decisions based on emotion and that don’t stack up financiallySome methods may be right for you and your individual circumstances, and others may not. Factors influencing your decision include your available time, cash and equity, your age, character, family situation, and your long term goals. For example, if you work long hours and have a busy social life then renovating may not be for you, or if you have a large family with little disposable household income, then negative gearing may not be your preferred option
Find a method that suits you
There are many ways to successfully invest in property, for example:Renovating
Positive cashflow or Negative gearing
Subdividing
Developing
Buy and Hold
Flipping
Wrapping
Vendor FinanceSo that’s it – all the “Secrets” you’ll need – set out for you on just one page!
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
There’s a Property Secrets group in the UK which services various countries in Europe.
The Aus one is no relation thopugh and from memory the guy Paul G was featured in API and runs a Security/Bouncer company as well as being heavily into property.
May be worth goingto for a listen as youmay learn something new (just dont sign up for anything) If you go, let us know how it went [exhappy]
“Money is a currency, like electricity and it requires momentum to make it Effective”
Online Positive Cashflow and Renovating CalculatorsI actually went to the Property Secrets seminar at Balmain last week and found it pretty good. Also went on one of their property tours on the weekend where they take you through different properties undergoing various stages of renovation.
They are essentially a buyer’s agent who will go out and buy a property as per your budget at a fee of $5000, then they have a reno done on the property valued at about $40,000 and charge $5000 to
manage the reno.They possibly have the banks eating out of their hands as they are able to get a value on the property which is at least $20,000 higher than the original cost of property + reno thus providing immediate equity.
They seem to have been able to repeat this strategy quite successfully time and again.
Most of their properties are bought out west of Sydney and are largely housing commission homes.
I’d like to hear more from other forumites if they have any first hand experience about Property Secrets – Paul G (the owner) seems to know what he’s doing but I’m waiting and watching for now.
[confused2]
Hello,
I am new here and just wanted to say that I attended the Property Secrets seminar. Basically they are buyers agents, and finance brokers – all in one.
They buy ex-commission homes in Sydney’s South West – Mt Druitt, St Marys, Willmot, Blackett, Bidwell etc.
You pay them a buyers agent fee of $5000 and they secure a property for you – under value.
They buy so many houses in the area ( 450 to date), so the agents in the area contact them first, before advertising the property.
You then pay them another $5000 and they project manage your renovation.This is optional, as you can choose do it yourself.
They then assist you in revaluing, releasing equity and buying again. Property Secrets also finance the deal for you, interest only – low docs, through their sister company called Green loans
Concerns:
There is that much crime in the area that kitchen appliances are installed, only when the tenant moves in. This is because they would get stolen otherwise.
All houses must have back-to-base alarms.
Electrical fuse boxes must have locks on them as the electrical wires get stolen.I went for a drive through the area last weekend, and got to see some scary people.
Questions:
Would you invest in the area?
Can you expect good capital gains in the next 5-10yrs?Property Secrets aim is to buy 5000 properties in the area within the next five years and then go to a builder to get them redeveloped into new duplexes. With 5000 houses, a huge discount can be organised for everyone.
????Hi all Thanks so much for your help and advice with this, I did not attend the seminar that night, guess my concerns and better judgement at the time got the better of me! [grad]
I have gained a lot from all of your comments! so thanks again.
Cheers
CharliHi I have no idea of the areas discussed as I am in Brisbane however where I live I hear in years gone by had plenty of “scary” people. However now its the Ritz place to be or so some would say.
So I guess you have to weigh up have they done their home work and see potential change for the area? and if so do your research and see if you come with the same conclusions.
It would pay to get an alternative opinion on the valuations if this is possible as has been suggested. Remember these guys are probably top sales people whom can make something pretty ordinary sound pretty good
Wayne
Mortgage Adviser
Email [email protected]
http://www.alphamortgagesolutions.com.au
First home buyers, investors, refinace, loan consolidation, equity loans, free service we come to you!
You must be logged in to reply to this topic. If you don't have an account, you can register here.
