It came up on my facebook feed and I watched a couple, something things I agree with but some I was smacking my head going how did you not know this.
In one of the videos he was on holidays at the gold coast and he doesn't now what they were selling but they wanted him to go to a hotel for a couple of hours and they would get free tickets to movie world (or $10 tickets). He thinks it was timeshare but says be warned... I am the same age as him and I know it is either timeshare or OTP sales... Yet he says he has I high IQ?
You need to read between the lines of what he says and you will get the true story.
In the video about 'is it better to buy one house or two apartments' he talked about a 1M house dropping by 200k during a GFC. Which I agree can happen but then makes a stupid comment about the 4x 250k properites will not drop down to 50k... Umm that isn't the same % as you are in theory that the 1M property could drop by 800k (which it wouldn't happen). The 250k properties can surely drop by 50k though (which would be a total 200k)...
He also mentioned in a video and on his website (
http://nathanbirch.com.au/aboutnathan.html) he has a property portfolio of 25M with loans of 10M but owns 150 something property (he has lost count!). If I had 152 properties I would know when I bought one more (153)... Maybe he doesn't have a good memory nevertheless lets break down 25M portfolio...
$25,000,000 / 150 = $166,666.66 is the average property
Yet says buy in Syd, Melb, Bris due to infrastructure... Don't know about Syd or Bris market but in Melb I think you would struggle to find an average of 166k for apartments.
Also the rental income is over 2M (according to website) which means each property is giving him $256 pw on avg (just to hit 2M).
Lets look at some deals...
http://www.news.com.au/finance/real...o-worth-millions/story-fnd91nhy-1227051194576
Extract:
Earlier this year he bought a block of 40 units in the Blue Mountains, which he believes will earn him $400,000 in annual income.
The building was a former motel valued at $4 million, but Mr Birch?s hard bargaining meant he nabbed it for just $1.66 million.
Do these 40 units = 40 properties? Also he expects to rent each property for $200 a week for a motel room in the blue mountains and have all of them rented... Good luck!
Negotiations skills are amazing I would almost suspect gang activity to negotiate a 4M property for less than half (1.66M)!! Who in their right mind would leave 2.4M sitting on the table?
Okay lets take another one...
Extract:
He also recently bought a property in Ipswich, near Brisbane, for $35,000 when comparable properties were selling for $150,000.
The article is dated Sept 2014 so recent would be last year, where do you find a house or apartment for 150k? According to RE.com the meidan apartment price in Ipswich the lowest it has been was 250k in 2006.
Again lets skip that fact - **** this guy is amazing! He bought a property at basically 80% less than value? Holy **** get me his number and ill give him a property to buy and ill pay him 10% of the purchase price if he can negotiate 80% off...
Yet his website says 'No ********' just transparent information... Please