anyone interested in sharing RP Data for SA (Adelaide)?

[babushka]

I posted this thread under the recent SIG meeting on 23 July 2007 with Peter Koulizos as the guest speaker. But, there was no reply to my post. So, I thought I would re-post it as a separate thread here - just in case any forumite might be interested in my suggestion.

Since we are interested in checking out properties in Adelaide in the next few months, I thought if a group of us are interested in the same thing then we can share the cost of RP Data subscription. I am not sure if anyone would be interested in doing this, but I thought I would raise it here just in case. Equally, I am happy to join a group if someone has already done this. Over a year ago when we bought our IP in Brisbane, I found a person who organised this and joined him (at very reasonable cost) and it saved us a lot of time and effort before we inspected each property.

The subscription cost is for the whole of SA and the same as outlined in this thread http://www.somersoft.com/forums/show...highlight=data. If there is a group of us interested in doing this, then RP Data invoices one person (who collects money from everyone) and sets up a login and password. Access hopefully should not be a major problem as each person in the group is likely to log in at different times. The same procedure worked well for me when I was in the Brisbane group - I did not have many problems when I was doing the searches.

However, if anyone who currently has RP Data subscription for Adelaide and would like to reduce its cost then let me know, I will consider paying you for some access. Thanks in advance.

 

[ralph wiggum]

Do you have any idea what the costs would be to do this? Also, is it legal?
Cheers

 

[babushka]

Do you have any idea what the costs would be to do this? Also, is it legal?
Cheers

I have spoken to a sales rep at RP Data and he said it would be OK if there is a group of investors who want to do this - however, there has to be only one contact person so this person will be responsible for the payment of invoices. I guess this person will be at risk if others do not pay him / her in joining the group. There will only be one login so the system will operate on a courtesy basis. The arrangement I joined when we did the searches for our IP in QLD was that if I was in and someone else logged on I would be kicked out. As a matter of courtesy I would wait for 10 or 15 mins for that person to do his / her search then I could log back on. To be honest for the year I belonged I was kicked out once. Most of the time it is not likely that everyone in the group would be logging in at the same time. People just logged in, did whatever had to be done (print, download reports) then logged out. If you are a new user then it would take you a bit longer to get used to the system. The login and password have to be protected by people within the group - no free rides.

The costs are $200 to set up an account, $52 a week for unlimited access to all data, reports, mapping and even "on the market" for the whole of SA (not just Adelaide - this is different for each state). These are the same as the ones in the link I provided. All subscribers pay the same - even RE agents. The contract is open ended, but there is a minimum of 4 months, with one month termination notice. So, if we want the minimum period then you subscribe for 4 months and after 1 month give termination notice.

When I joined the Qld group it was for a year, but I only used it for 5 months - I bought my IP within this period. It was a very useful tool. After we bought I did not use it for the remaining period, except to check that the property has our name on it etc.

Hope the above answer your questions.

 

[harrywyborn]

I have just posted a thread this morning asking for exacltly this. May i ask you to message me with some details of your qld group please as i would be interesteed in joining them if they still had the need.

 

[babushka]

I have just posted a thread this morning asking for exacltly this. May i ask you to message me with some details of your qld group please as i would be interesteed in joining them if they still had the need.

Hi Harry

I have sent you a PM with the details for the contact person for the QLD group.

May

 

[ralph wiggum]

So on the prices you mentioned, it would be a touch under 3k for the year. How many investors would you be looking at to get this off the ground and not be too costly?
Cheers

 

[Buffalo]

So on the prices you mentioned, it would be a touch under 3k for the year. How many investors would you be looking at to get this off the ground and not be too costly?
Cheers

Just for reference the cost in NSW is just under $200 per week.

 

[babushka]

So on the prices you mentioned, it would be a touch under 3k for the year. How many investors would you be looking at to get this off the ground and not be too costly?
Cheers

Hi Ralph

That's right about 3K for the year for SA (costs are different for each state). So far, less than a handful have expressed an interest. If we can get 10 to form a group then I will be happy to do it for a year, otherwise I may only go for 6 months - hopefully during this time we would have found and bought something. The only problem is that I will be away overseas for a month from mid-August to mid-September so I may not organise the subscription until after mid-September. Unless, someone else would like to volunteer to organise the subscription. I have the details of the contact person at RP Data to call for subscription. I am happy to join the group straightaway if someone else organises it to make things easier for everyone.

Regards
May