Map session

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Brian
Participant
@brian84
Join Date: 2014
Post Count: 22
December 17, 2014 - 11:08 am
Hi everyone I am new to property investing. I have just booked in with binvested in Sydney for a map session, just wondering if anyone has recently had a session done with these guys. If so how was your experience.
PHP
Participant
@php
Join Date: 2014
Post Count: 111
December 18, 2014 - 8:08 am
Hey Brian,
I personally have not been to a MAP session or have used Nathan’s BA services so I can’t say much.
For me though, a one or two hour MAP session is not enough to answer all my questions in property investing. They will apparently work out a good investing strategy for yourself and it have probably worked for a few or all of their clients. Binvested is a successful business and Nathan has really done well for his age. Kudos to him. I noticed you have also posted this on other forum and the responses there is what I am also believing.
PS. The MAP session price will go up next month apparently. Be quick! :D
Let us know how you go and what your thoughts are so other’s can benefit from your experience.
Cheers!
PHP | Mortgage Station Pty Ltd
http://www.mortgagestation.com.au
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Brian
Participant
@brian84
Join Date: 2014
Post Count: 22
December 18, 2014 - 11:05 am
Yes thanks php, I did post on another forum. I am trying to get the feel for investing so trying to get as much advice as I can so I thought $299 is much if it can give me atleast a bit of useful info. I have purchased a voucher with them so I can go anytime within 6months.
I will definitely be letting everyone know my experience. I want to purchase my first investment property early to mid next year and I think this session will give me the kick in the ass I need to get started instead of just sitting around reading and day dreaming about what could be all the time.
Catalyst
Participant
@catalyst
Join Date: 2008
Post Count: 1,404
December 18, 2014 - 4:58 pm
$299 is not a lot of money, so you are sure to get something out of it. Most reports from beginners have been positive. But as with anything there are some negative comments.
Please let us know what you think. Speak to as many like minded people as you can. That’s a great way to learn.
Nath_simonson
Participant
@nath_simonson
Join Date: 2011
Post Count: 2
January 18, 2015 - 11:32 am
BE VERY CAREFUL IF YOU ARE THINKING OF DEALING WITH BEINVESTED
My partner and I got stung bad by Nathan and Daniel. We started off with their map session which we thought was informative but we didn’t think it was worth the $300 fee.
We then proceeded to use their buyer’s agent service. We paid $10,000 for this service and was offered a 3 bedroom townhouse in Nerang on the Gold Coast. We were sent a spreadsheet with all the figures and numbers, it all added up to be positive by $6 a week. There was a discrepancy with the rent that they thought the property could achieve. The property was currently tenanted at $280 p/w but Nathan had said that it should be rented out for $300-$310. We questioned Nathan on this and his answer was that the tenant had been in there for a number of years and the rent hadn’t been increased but assured me that $300 a week was achievable because he had properties on the same complex for the same rent.
We proceeded with the purchase and Nathan’s property management service blink property was supposed to take over the property. This was an ordeal to say the least! We spoke to the property manager who was taking over the property once before settlement and where assured that it would all be taken care of, this was the last time we heard from her. After making dozens of calls around settlement time, she was in contactable. It got to the point where the current property managers where calling us to come pick up the paperwork and collect the rent that had kept coming through because they couldn’t get in contact with Blink Property either. So in the end the property just stayed with original property managers.
After about six months we went through all the bills for the property because things just weren’t adding up. After doing the sums it turns out that the property is negative by $65.50 p/w and the most we can get for rent is $290. We have had the property revalued a year after we purchased it and the property is worth less than what we paid for it.
We are as much to blame as anyone, we should have double checked the figures and not just relied on the misleading information that was feed to us. Nathan clearly doesn’t stay true to his “strategy” that he preaches to of buying positive property that’s below market value. He is quite happy to take your money and make things look good on paper to get you to do the deal. All I want to say if you are going to deal with binvested make sure you know what you are getting yourself into before your start handing over cash and singing contract. Research is key and we made the mistake of not doing ours and we are paying for it now. Just because you pay a buyer’s agent a large sum of money doesn’t mean you’re are automatically just going to get the best deal. If you want something done properly than you are best of doing it yourself!
- This reply was modified 9 years, 10 months ago by Nath_simonson.