Hi guys, I've been looking around a little bit lately for investor groups or such that I could join to meet some likeminded people who could help me get started in property. I came across a website called the investor club and was wondering if anybody was a member of it and if it was useful as it says there is mentoring available.
If not that I am keen to get involved with any other investor group or mentoring program, I would just like some feedback from people who have done it already. I live in Brisbane on the southside, any feedback would be greatly appreciated
Cheers
BrazyG'day Brazy.
TIC are good for info and you will learn alot but (there's ALWAYS a but, isn't there?) they still want to flog you one of their own IP's. Go, Look, Learn, then Buy what you want When you want Where you want to invest.Check out Brisbane “Meet Up” websites, you’re bound to find a few there
Cheers ALF1 will do
RenoTeam do you have a specific website that you know?
Hi, Regarding TIC. We fell for the sales pitch. Two years later still waiting for the property to be completed. When asked for an explanation a few times on their forum our questions were deleted immediately they didn't want any adverse requests on their forum. I have now realised they are an organisation working exclusively for builders to sell properties and get commissions. Of course most properties will make money in time. I gather the builder was broke didn't even own the land. He seems to be scratching along. We just are hoping an praying it gets finished. If you do anything with TIC which I wouldn't. I recommend you get a completion date written into the contract with penalties. If they won't do that then guess they can take forever.
We learnt the hard way.
http://property-investment.meetup.com/cities/au/brisbane/
Google meetup property. There may be others in your area.
I go to the meetup ones in Sydney. They are well organised (depends on the person organising) and well attended.
Go to a few free seminars in Brisbane. I have made some great friends just by talking to people at seminars.
I have decided to establish a Property Know How Club. The idea will be to provide education and joint venture projects for people to be involved in. Membership will be free. My view is that I want to use my experience and the experience of others to at least point people in the right direction. I will offer things such as mentoring but I still that the purpose of this club is to help people make money not sell them products. There will be details of my Club membership on my website by early next week
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Hi Brazy, We purchased a property through TIC. They are basically agents for builders. You could wait up to two or more years for your property. I would now purchase a property that is already built under four years old. Then you get the depreciation and can rent it immediately, and aren't at the mercy of the builder who can supply when he feels like. Also their promise of offsetting rent needs to be an agreement in writing. When the lost rent is calculated due to delays we are about $20,000 out of pocket, and that is growing as the property is still not rented nearly three years later and still paying the mortgage. We would recommend that you be very careful. Buying off the plan is risky unless you have a contracted finish date with a the builder paying the mortgage if not completed on time. They have been sued in the past for misleading projections of the values of the properties they promote. if you search you will probably be able to find those cases. One case was lodged in WA.
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