Is this another self promotion or have I missed something … Caveat Emptor … Buyer beware.
I have stumbled across this post rather late…
Those who are happy to pay a group to help them buy, no problems.
Many of us would like to buy independently and not pay commission before we've even made any cash from the deal!If you want to buy thru a group, as the post says, first check the licence.
Then research the area buy and sell prices before you sign, so you know how much they are making from your purchase.
I recommend financing independently (cynical but realistic! Your bank won't fund it if the buy price is too high.)And always have a good conveyancer or solicitor check the contract BEFORE you sign. Their contract does not have to be the one you sign!
As always, buyer beware. Do your own due diligence and then, buy if you are still happy to.
quickchick
Hi Garry,
Have just received an invitation to my first LifeCorp seminar. Having had previous dealings with Phil, I'm somewhat wary of his latest venture but like you, always keen to see a project for what it's worth. A single mum, looking to rebuild, I've begun the research process on LifeCorp and was keen to hear of your experience some 12 months now after your first purchase…
Would appreciate reading 'where you're at'…
Sorry 'Rebuilding' for taking so long but after the attacks I don't visit here too much (I don't need crap or to justify myself to know it all cynics & hypocrits).
Anyway, 'where I'm at' – I now have 1 'Lifecorp' provided property which is cashflow +'ve and is everything promised. I have gone halves with my daughter in another (both in regional NSW and both appreciating and cashflow +'ve), I am awaiting the call for my deposit on a 3rd (an 'off the plan' development) and my son has just put a holding deposit on another (different to mine) 'off the plan' development in Sydney.
Yep, I'd say we're happy with Lifecorp. They've delivered on everything they said they would and THE DECISION TO BUY WAS MINE. There was never any coercion to buy. It has been exactly what I called it – a lazy man's (or womans) buying group where all you need do is your due dilligence on what's offered.
BTW – about 24 Lifecorp members just had a social get-together on Hamilton Island. Not 1 unhappy investor amongst us.Hi,
I have just attended a Phil Anderson event in Melbourne. I wanted to hear from anyone who has any experience with him. I can see the last post was very positive. I would love to know how 'volitans' feels after another 14 months.
Phil comes across as a very genuine, non-flashy, non-pushy person. I am considering joining Lifecorp for 3 years with my sister so it will cost us about $4000 each. There is alot of help, hot-spotting masterclasses, phone calls, etc. so I think it is financially worth it. Plus he is not a developer or financier, they don't contact you about what to buy as it is up to you to decide and they give back $7000 with your first property purchase. I can't recall his exact words, but I think he receives a small commission from developers the group buys property from. Fair enough I say for all the hard work.
Yes I could do it myself, but I have 2 little kids and don't have time.Any helpful comments or details of experiences with Phil would be appreciated so I can make an informed decision to sign up or not.
Thanks
Hi there,
I am planning to buy a property anytime from now to March 2011 via a reliable buyer agent/organization. Time is precious for me so I don't mind to pay some commissions so long as the agent does a good job. Lifecorp and OzInvest are two companies that I am researching on at the moment. So Garry, Rebuilding and Parknine, please do not get discouraged with those negative feedback but continue to share your precious experience with people like myself who need your advice.
GrowingIll give my 10 cents worth on commission as an active marketer of residential investment property.
The back story…
I have been a small developer over the years and generally budget say $25,000 for the marketing and sales commissions of my developments… its pretty standard practise in the industry (I also used to fund development projects).
So.. other developers often have 2.5% of the purchase price up their sleeve… built into the feasibility of the project to market & sell it.
I take my share of that and pass a marketing referral fee along… its just business… as long as the property holds up to an independent valuation I don't see its an issue at all, its how I feed my 3 young children.
parknine wrote:Hi,I have just attended a Phil Anderson event in Melbourne. I wanted to hear from anyone who has any experience with him. I can see the last post was very positive. I would love to know how 'volitans' feels after another 14 months.
Thanks
Well it's not quite 14 months but as I don't get on to this forum as much as I should I can tell you that the only change in my attitude towards Phil & Lifecorp is greater satisfaction.
I have had 1 L/C originated property for about 2 years and a second for just over a year. Neither has broken any growth records but both HAVE appreciated in value. Both have met every criteria that Phil said it would. I continue to attend L/C meetings (though these have changed direction from 'recruiting' members to education and increasing wealth of existing members) and recently went to one discussing 'hot spots'.
I did have some small builders problems with the 2nd property but by speaking to L/C they intervened and had immediate rectification work done, something which the builder/developer (who incidentally is independent of L/C) had evaded for a while when my property manager attempted to have the faults fixed.
Sorry to rain on the doubters parade but again I promise you apart from being a satisfied L/C client I have no affiliation with Phil or L/C and I would (will) use them again as soon as soon as I am more 'liquid'.
Hi Garry,
Thank you for your detailed reviews and opinions about LifeCorp. A friend just mentioned them to me recently and I wanted to find out more about them.
The great thing about the forums is the ability to watch how things have played out over time. It is now a few years down the track since your first property / interactions, right? How is everything tracking?
Hi Did you go ahead with Lifecorp we are looking inot joining them and so far it looks good but I’m very cynical but so far so good. We are ready to go ahead with a SMSF and purchase 2 properties, what have your experience been like with them assuming you did go ahead with them
-
This reply was modified 9 years, 7 months ago by leeg.
Most of these posts are from a few years back – I too am interested in Lifecorp and wondering if there are any more recent experiences in dealing with them.
-
This reply was modified 9 years, 7 months ago by
You must be logged in to reply to this topic. If you don't have an account, you can register here.
