Anyone had experience with Investor's Club?

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From: M O N T O


I am a newbie who has spent sometime reading this forum and am grateful with how people helped the rookies like myself a great deal and get started. Recently I came across a company called the investor's club. I live in Melbourne and they are based in QLD, being interstate and read about some hoax stories before, I can't be too cautious about anything that sounds too good to be true (positive cash flow on their IPs.) Can anyone please share some experiences if you have dealt with them, either positive or negative. If the comments can't be posted here please send me an email. I am about to sign up a deal with them, any comments from anyone will be greatly appreciated.
 
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Reply: 1
From: Alan Hill


Matt,

If you do a 'Search', you should find a few posts on your topic.


:)
 
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Reply: 2
From: Les .



G'day Matt,

Use "Search" and enter "Investor Club" then highlight "Property Investor Forum" - gives 17 hits. Also, do the same again, but instead of PI Forum, select Property Investor Archive (2 hits).

You'll see a selection of comments - some very happy with their purchases through IC, as well as a range of opinions regarding whether using IC (or any other marketing arm) is as beneficial as doing it yourself.

There should be enough there to have you form an opinion for yourself.

Good luck,

Regards,



Les


- "Eschew Obfuscation" - ;^)
 
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Reply: 3
From: Rolf Latham


Hi Matt

As with all new investment property purchases I suggest you organise your own finance at 95 % of the purchase price. That will usually ensure the lender will value the property in a realictic way.

Ta

Rolf
 
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Reply: 2.1
From: Tibor Bode


Hi Matt,

I am a member of the club and I have purchased 1 property via them. All other properties I have purchased myself. I found them helpful (good support member is very important) they offer several unique services
like No Tenant No Problem Insurance, refund of air fare, showing you around free and will get a refund of accommodation as well (only if you buy) and the DON'T try to push you to buy. They also allow you to get out of the contract on several clauses (after you signed the contract and cooling off period is gone in QLD, but you have not seen it and you don't like what you see and want to get out, no problem) Only you air fare and accomodation cost, but not an unwanted property. They do lots of research (reasonably good quality), free membership and newsletter. have a look at www.investclub.com.au site and it is worth to go to a meeting. No one tries to sell you anything. It is up to you whether you like it or not. I still have very good contact with my support member and my buy further properties via them. But be aware that you also pay (they take around 10K to 12K if I am correct) and prices are not negotiable. I agree with Les, look at it then make up your mind. I am happy with the property I bought via them, but lately they do not have deals I could not beat in the specific market I am in.
Also Kevin's retirement plan is free, but Peter Spann will give you in a seminar the same stuff for a couple of grand.

Tibor
 
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Reply: 3.1
From: Gail H


Matt,

I would also ask you why you need them. You can get all the support and advice you need here. As for finding properties, that's the fun part. You can locate interstate properties through the internet and do hours of searching at any time you want. All the main real estate agents have websites now. I have the websites saved into folders in the "favourites" section of my computer for all the areas I'm interested in. Most real estate agents will also email you digital photos of properties you're interested in.

You can arrange your own inspections. One of the members here (Robert, I think - sorry) runs a service where they will send a person out to do a report on the property (very modest fee).

Personally, I love sitting here at 3am looking for bargains on the internet. Maybe that doesn't turn you on, but I still ask why you need this group.

For interstate purchases, you can put a property that you're keen on under contract, and ask for a "subject to satisfactory inspection by purchaser clause" to go in with your "subject to finance clause". Then fly up and see it. Not every vendor will agree, but this is something you can try to do if you really can't stomach buying a house you haven't seen.

Anyway, you do have to do what feels right for you.

Good luck

Gail
 
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Reply: 3.1.1
From: Robert Forward


>
>You can arrange your own
>inspections. One of the
>members here (Robert, I think
>- sorry) runs a service where
>they will send a person out to
>do a report on the property
>(very modest fee).
>

Hi Gail,

Yes that is me, thanks for the mention. Matt you find a property that your interested in I will send someone to the property to do a report on it. The report will be back in your hands within 3 days (dependant on how long it takes to get access to the property).

Check out my website and there are a couple of sample reports you can look at too.


Cheers,
Robert

Property Inspection Reports @
http://www.creativefinance.com.au

The Sydney "Freestylers" Group Leader.
 
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Reply: 3.1.1.1
From: Anonymous


Hi Robert
Which parts of Australia do you do property reports in?

gunna
 
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The Investors Club ???

Reply: 2.1.1.1
From: Lesley .


Do you mean to say that they take 10K - 12K for themselves off the price that you pay for the property?
 
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The Investors Club ???

Reply: 2.1.1.2
From: Lesley .


I presume you are talking about "Money"? In what edition of the Money mag can the report be found?
 
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Reply: 3.1.1.2
From: M O N T O


Thank you all for your recommendations so I can make a better informed decision. From what I understand, buying through them will mean a fee of 10-12K, in return you get:
1. the pre-purchase selections
2. hand holding throughout the whole purchasing process.
It might suit the less active investors who don't have time to research themselves, or for interstaters who might not feel as comfortable about certain unfamiliar markets.

After spending over a month driving around with agents in Melbourne (not exactly on top of my fun list), I've worked out that it might be too expensive to buy here. I came across CI and was convinced investing in QLD would be a better option. Not knowing the QLD area well, where can I get started if not through the IC? What suburbs are good starting points? I was told by a friend living there (as a tenant) that public transport is not too convenient and the closer to the CBD the better.
It appears the most difficult part for me so far is to find the right property, and I wanted to settle one sooner rather than later to stick to the plan. The more I know the harder it is to make a decision. When you guys first started investing did you wait a long time to do the homework first, or did you learn as it went and made mistakes on the way?
Thank you all once more for your time and effort to help.
 
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Reply: 3.1.1.2.1
From: Tibor Bode


Hi,

The investor club deal directly with developers and gets discounted prices (sometimes it can be quite good) as they can sell quickly several properties. The discount varies and they add something for their support structure. They provide pre sales hand holding and help, during the settlement, and AFTER as well. I do not want to promote them it i severyone's own judgement whether they are good or not. I personally had quite good and some not so good experience with them, but basically positive about them and in future if a deal comes along I am happy to buy via them. This is only my personal opinion. For further information visit the web site www.investclub.com.au and if you are interested attend a meeting. The most anyone can loose is their time.
For experienced investors there are just as good options like going alone after doing your homework. Regarding to QLD (I have a couple and still buying there) I use the RESIDEX QLD report, MATUSIK Insight, (both cost money) PRD REALTY from their web site(free) HTW Monthly from their web site(free),
www.qld.gov.au register and get all ministerial news releases (free) local council plannings (free), API magazine, AFR and whatever I can put my pows on.

I am Sydney based and feel very comfortable to purchase in selected areas of SEQ after some research.

Tibor
 
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Reply: 3.1.1.2.1.1
From: Gail H


I can't recommend Australian Property Investment Magazine highly enough. They tell you what the hotspots are, have charts which tell you price increases over the last year etc. Its my bible.

I did 4 months of research before buying my first property. I'm still learning every day, but the learning curve has flattened out a lot.

If you are interested in an area, moot it here on the forum and get feedback.

Gail
 
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The Investors Club ???

Reply: 2.1.1.2.1
From: Anonymous


March 2002 edition
 
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Reply: 2.1.2
From: Geoff Whitfield


Tibor,

Ross said,

"I think you'll find that most negative comments about The Investors CLub have
been deleted".

This may be because negative comments might leave the people who run the forum- or the posters- open to legal action. Regardless of whether any comments are accurate or not. Such legal action has been threatened in the past by various organisations.

You said
“Also Kevin's retirement plan is free, but Peter Spann will give you in a seminar the same stuff for a couple of grand.”

But you’ve admitted yourself that the commission you paid was $10K to $12K.

I’ve done the Spann course, and I’ve gained a wealthy of knowledge, and a whole new mindset- covering shares, options, and properties (renovating, and not just new properties). I’ve put that to very good use.

I know for me which offered better value.
 
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Reply: 2.1.2.1
From: Tibor Bode


Geoff

As I stated earlier, I do not wish to promote the IC, but to share my experiences. Obviously i did not make myself clear. I do it not. I DID NOT PAY A CENT COMMISSION TO ANYONE. The club purchases in bulk from builders at a discount, they put 10K to 13K
on the discounted price (the are upfront about it) then on-sell it to you. This helps them to provide the various services as a package. Ie. Pre inspection, legal, settlement inspection, tenanting (it is on-going if you wish and DOES NOT COST YOU A CENT), NTNP insurance (1 week rent for 40% of rent covered), several cases QS report (mine did not cost me a cent and was done without asking for it), etc. There are several people involved and some costs paid by them. Also being a commercial organisation
they can not live on air. They need money. They just do not make obscene profits out of you. Their offering might be suitable to some people but not for everyone. The idea was just to check it out as the most anyone can loose is their time. They also lobby on several issues which effects all of us a real estate investors. Check their web site if you are interested.

Regarding to Peter. I also attended his seminar and he was very proud announcing his idea about how to make wealth in R/E. I talked about it with Kevin Young and other people and was told that Peter learned it from Kevin while he was doing his research work with rich people. The entire stuff is free on the IC club web site to read for anyone who bothers. I still think that Peters course 3 years ago was good value, but this is the other site of the coin.

As far as I am concerned this is my last response about the IC. If someone does not like them, its fine. They sold over 5 years in excess of 3000 properties, have a very large membership both here and in NZ, so either they are the smartest sales people or they do something right. You can decide.

Tibor
 
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Reply: 3.1.1.2.1.1.1
From: M O N T O


I went to several large bookshops in CBD today, couldn't find a March issue of Money magazine nor the Australian Property Investment Magazine either. For the former one, does anyone have a copy which can be sold to me? The publisher has the back issue but they will take 30 days to deliver.
Also, Is there a website for the latter one?
Thanks in advance.
 
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Reply: 3.1.1.2.1.1.1.1.1
From: Lesley .


Hi Matt. I have ordered one (yes the 28 day thing was a bit hard to believe!), but I really want to get my hands on the article as the IC is currently doing some work for us. (we too, are newbies) If I get the article in the next few days (hopefully) I will let you know.
Cheers,
Lesley
 
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