Myall Group

Viewing 5 posts - 1 through 5 (of 5 total)

bronte180
Participant
@bronte180
Join Date: 2012
Post Count: 1
October 3, 2012 - 7:49 am
Hi,
I am new to this forum but have purchased several properties in the past. My circumstances have changed and I am unable to devote the time needed to source properties anymore. I was wondering if anyone has had any experience with the Myall Group – based on the Gold Coast – for sourcing house/land packages for investors.
Thanks in advance for your help.
Nigel Kibel
Participant
@nigel-kibel
Join Date: 2005
Post Count: 1,425
October 3, 2012 - 9:17 am
Most companies sell house and land because generally the commissions start at about $30,000 so that the basis of the offering not whether its a good investment or not. Generally I do not think house and land is the best investment
Nigel Kibel | Property Know How
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Nigel Kibel
Participant
@nigel-kibel
Join Date: 2005
Post Count: 1,425
February 4, 2013 - 7:09 am
Of course groups out of the Gold Coast are part of the white shoe Brigade. I would not buy house and land packages in this market. There are much better investments available. I would look at investments near Brisbane. The market is full of investment companies most of which do not have the investors interests at heart.
Nigel Kibel | Property Know How
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Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
February 5, 2013 - 12:59 pm
Bronte, ask them why they only recommend new House & Land packages.
As Nigel mentioned it is because they can hide their commissions which can be 30K upwards.
They will give you the 'buy new and maximise your Depreciation / Capital Allowance deductions' spiel but remember you get the same deductions on something that is 6 months old without the in built fat commission.
New properties can provide an excellent source of in built equity but demand a copy of the valuation to ensure that the purchase price / valuation are one in the same.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
lukebex2
Participant
@lukebex2
Join Date: 2023
Post Count: 0
March 28, 2023 - 8:57 pm
I hope you didn’t go ahead. I’m just posting here so if anyone searches for Alan Myall (aka Myall group) it gets a hit.
https://www.smh.com.au/national/investors-lose-millions-20121027-28cnh.html
https://www.smh.com.au/national/battlers-the-target-in-real-estate-racket-20121027-28cax.html
https://www.smh.com.au/national/unconscionable-tactics-that-soured-investment-property-venture-20121027-28caw.html
- This reply was modified 1 year, 8 months ago by lukebex2.