IP marketing organisation

My first posting. Has anyone experience or comments on ARPP - Australian Residential Property Planners? This organisation has a head office in Sydney and a network of associated RE agents and mortgage brokers - a bit like a soft sell Investors' Club. I am currently deciding on a house and land package in Forest Lake, Qld, that they have offered to sell me and I would appreciate any views or goss. Just in case dealing with this organisation could be hazardous to my financial health!
Patrick McBride

don't know the company but there are good and bad in this industry.

Get an independent Valuation! Paying too much is a big risk. As is being promised high rental.

Cheers,

Who do they represent... the buyer or the seller ???

Hi...



Firstly, who do they represent... the buyer or the seller ???




- ROSS

They claim to represent my interests, as the buyer, by identifying IPs for sale which meet a list of criteria. I asked whether any forum members had experience with ARPP because while I am obtaining valuations and comparing similar properties as best as I can the commission situation is opaque. Apparently the 27c form which requires a statement of benefits obtained by agents for the sale of completed dwellings is not obligatory when I am purchasing a house yet to be constructed. Have any forum members been through this situation?

Patrick,
Forest Lake.imho,What is the price?
land area,rental return,never think that anyone represents your investments,
at the end of the day you are responsible for your actions......
good luck.
willairx.

Hi Patrick,

I haven't had dealings with this organisation but as long as it is free to see what they have on offer and you do your due diligence what harm can there be (besides some of your time).

Remember that they are being payed by somebody - often developers

Cheers

Hi Patrick

If you are doing your finance and legals independently you should not get onto too much trouble.

A not uncommon strategy to help you ID the real value is to initially apply for a standalone 90 or 95 % loan, let that be approved and then reduce the loan amount to whatever you require.

This ensures the lender will value the new place on its merits.

ta

rolf

G'day,

I am in the same position. I have looked at Custodian Wealth Builders and Lancer group.

Since, I have paid about $2000 to Lancer to do my looking etc. with reference to 'the criteria' (as they all say they do).

They say they are acting for you, however they get paid well!!

Both these groups make money (mostly) from the land sale. I am sure, although hard to find out, that they have plenty of mates in lending/housing/legal etc etc.(make some more money).

Lancer is meant to find the best people for the job, be it legal/accounting.... however I have found there 'best' people are not in my best interests. For example, there legal and finance costs are way over priced. I will use my own.

I am buying house and land from them though. It is two contracts - one for land, one for house with full turnkey setup.

I have looked around for land prices in the area, and found the one I have put a holding deposit ($1000) on to be typical RRP - it is $145k for 600m2 in raceview (near Ipswich) in a nearly completed estate. Some blocks in this estate are $130k for the same block size.

This is my first IP. I am learning as I go, and hope to not make it an expensive learning curve.

Some things I have found invaluable are:

1) this site
2) having friends who have used these groups
3) an excellent morgage broker
4) good accountant - from this site and a regular
5) conveyance works
etc

I would love any feedback about the 'standard house contracts' these groups offer please.

thanks,

Nic.

Patrick,
I haven't had any experience with this group. But I have had experience working in selling properties in Forest Lake with another investment group.
The area is really nice, well planned, good facilities and it is nearly finished its development, so everything is in place. In fact, I'm surprised they still have land available. I thought it had all pretty much gone.
Which part of Forest Lake were you planning to buy in? Have you been there to take a look? It is good to get an idea of where you are buying and the area you are looking in. You may get a better deal in Springfield Lakes, although it is much more like a construction site at the moment!
Our prices in Forest Lake are usually between $350 000 and $450 000 for a 4 bedroom house and land package, complete with all landscaping etc done, ready to rent out.
Check out realestate.com.au because there are lots of competing developers all doing work there, so you may be able to get a good deal. Do they have references etc you can look at?
The rental market is a bit softer than other parts of Brisbane I think, but still only 2-3% vacancy, when I last looked.
Be careful of rental guarantees - it often means the price is inflated. A good property in a good position will rent well.

Hope that helps,
Pen