Hi, looking at investing through a Investors Choice Group. Has anyone had any dealings with this company?
I haven’t heard of them – but there are hundreds of one stop shops opening up. What do they do? How much does it cost?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Never heard of them before. My advice would be to find out whether they work for clients or sell for developers. If they work for clients then they charge you a fee. Definitely finding how their fees work is very important.
If it the same Investors Choice as the one based at Logan and on the Gold Coast then it appears they make their money by receiving hefty referral fees from developer, builders etc.
As 37PG mentioned finding out how an organisation works and who pays them is important.
For example we don’t hide behind the fact that for Sourcing a property for a forum client as a Buyers Agent we charge the client a fee however for our Broking and loan structuring services we are remunerated by the lenders we deal with.
Looking thru the level of experience of the Directors it does not look appear they have too many years in property, finance, tax or accounting between them or own too many properties.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Thanks everyone for your feedback. We have met with a consultant & they have been upfront about how they make their money – via builders / supplier of the property. We have a meeting next week with a financial advisor & will have more information looking at our specific financial details & consider our options. I will post again after that.
Hi julloumar
Are you seeing a financial planner or a mortgage broker?
Is this person affiliated with the property investing company?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Yes they are affiliated, mortgage broker.
Yes they are affiliated, mortgage broker.
Oh no! This will end in tears. Be careful.
Be wary of affiliated brokers, as there have been many cases of the developers/brokers/conveyancers etc stitching up the buyer by skimming over issues (poor valuations, trying to stop clients exiting OTP contracts using sunset clauses etc).
It is much more beneficial that you enlist the help of independent advisors who’s interest is in serving you, not the parent/affiliate company.
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This reply was modified 10 years, 5 months ago by
Corey Batt.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
No there won’t be any tears he will tell you can afford it and direct you straight back to Investors Choice.
Also remember he is not a Financial Adviser unless he is licences. Big difference between a Financial Adviser / Planner and a Mortgage Broker.
Who is it you are seeing?
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Richard I have sent you details in private message.
The tears will come when you find out the valuation has come in $30k under purchase price.
Yes they are affiliated, mortgage broker.
Ok.
If you’re keen on proceeding with the purchase – at least appoint your own finance person and solicitor. This way, you’ll avoid some conflicts of interest. It’s good you’ve contacted Richard – he won’t stuff you around.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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This reply was modified 10 years, 5 months ago by
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