Chris Lang - recommendations??

[jingo]

Hi all,

I am looking for a buyers agent to source a commercial property for me. I have been reading Chris Lang's material, both on line and his book 'How Commercial Property Really Works'.

Has anyone had Chris (or his company Property Edge) source a property for them, and if so, would they recommend him to other investors?

I spoke with Chris yesterday and was impressed to be able to contact him so easily directly by phone. He spent a considerable amount of his time chatting with me and he seemed to genuinely want to help me. He seems to be a very knowledgeable and cautious man.

Before signing up and as part of my due diligence, I just thought I'd check with others on Somersoft who may have used his services. I've done a search through old threads, and everything I've read to date instills me with confidence that hiring Chris will be the correct way for me to proceed!

Looking forward to reading your thoughts.

Regards Jason.

 

[John M]

I don't know the man, but if everything you're reading about him is good, and you are comfortable dealing with him, then you may be on a winner.

Hopefully someone here who actually knows him can comment. Perhaps check out his Linkedin profile to see his recommendations.

Good luck with it all. Enjoy your long weekend!

 

[APerry]

Hi Jason,

Chris has posted on here in the past, if youi do a search you will find some threads he contributed to, it was probably a couple of years ago now. I've known Chris for a number of years and have a lot of clients who have purchased property using his service. I only have positive things to say about him, he's very thorough and has been ijn the game for a very long time, so he most defianntely knows what he is talking about.

Regards
Alistair

 

[djhaz]

Chris Lang

Hi Jason,

I bought a property with Chris Lang just over 10 years ago.
Am happy to discuss my experience with you.
Feel free to msg me privately.

Cheers,
Dave

 

[Rooster]

Hi Jason,

I bought a property with Chris Lang just over 10 years ago.
Am happy to discuss my experience with you.
Feel free to msg me privately.

Cheers,
Dave

Care to share if it was positive or negative at least?

I'm all for privacy but in the interest of the forum could you elaborate here a little?

 

[djhaz]

Chris Lang experience

Sorry, I forgot to return to this post as I was responding to people individually.

Of course I can only talk about MY experience, others have hopefully had a much better one.
Chris helped me purchase a 35m2 office off the plan in St Kilda Rd Towers, Melbourne. He charged a few thousand to select and settle and advised (with projections that I would be able to sell in 4-5 years with a good profit).
This was in 2003.
The office cost me $207K including fees. I have been trying to sell it ever since (for more than 6 years!!!). Through those years I kept getting told that it was worth more than $200k, but I never saw an offer.
There is absolutely nothing wrong with the office, I just paid way too much for it (with Chris's advice).
This was my first step into the investment world and I have been paying for it ever since - I still have a big personal mortgage and still owe the $207K on the office. It has really affected me and my family.
That has been my experience

Chris told me that he actually bought one of these offices for his mother which I guess is part of why I trusted that it was a good investment, but maybe now he too is still stuck with this bad investment?

I have just this week listed the property on Gumtree out of desperation!!!
If anyone wants to benefit from my loss and take this off my hands then please contact me!

 

[Ausprop]

Sorry, I forgot to return to this post as I was responding to people individually.

Of course I can only talk about MY experience, others have hopefully had a much better one.
Chris helped me purchase a 35m2 office off the plan in St Kilda Rd Towers, Melbourne. He charged a few thousand to select and settle and advised (with projections that I would be able to sell in 4-5 years with a good profit).
This was in 2003.
The office cost me $207K including fees. I have been trying to sell it ever since (for more than 6 years!!!). Through those years I kept getting told that it was worth more than $200k, but I never saw an offer.
There is absolutely nothing wrong with the office, I just paid way too much for it (with Chris's advice).
This was my first step into the investment world and I have been paying for it ever since - I still have a big personal mortgage and still owe the $207K on the office. It has really affected me and my family.
That has been my experience

Chris told me that he actually bought one of these offices for his mother which I guess is part of why I trusted that it was a good investment, but maybe now he too is still stuck with this bad investment?

I have just this week listed the property on Gumtree out of desperation!!!
If anyone wants to benefit from my loss and take this off my hands then please contact me!

is it leased?

 

[MTR]

Wow, I am in a state of shock, this guy has written books and apparently expert in this area, and you paid too much for the property, not good at all.

One thing that I have learnt even if you use BA you must also have evidence to support what they are saying.

Seems totally ridiculous you have to do this though.

Jingo,
Have you purchased any CIPs using Chris... just curious???

 

[djhaz]

Yeah, leased for just $7400/year (started Feb).
But I haven't actually signed the lease as I felt I was sort of forced into leasing it at a bargain. It was around $11k/year previously.

I would blame Asian Pacific as much as Chris Lang - they don't seem to care too much for my situation.
I just want to cut my losses and get out.

 

[djhaz]

I don't even know what a CIP is! So i guess not.
I am scared off buying anything since this experience - couldn't afford to anyway.

Chris seems to be a lovely guy, it just has not ended well at all for me.

 

[Ausprop]

for what you will get for it why not just keep it? the rent is dreadful against your purchase price

 

[djhaz]

Would rather just cut my losses and move on.
It's here if you want to see it...
gumtree.com.au/m-my-ad.html?adId=1024146021

 

[MRO]

Would rather just cut my losses and move on.
It's here if you want to see it...
gumtree.com.au/m-my-ad.html?adId=1024146021

Good idea. No point tying yourself up with a bad investment. Just take the loss, sell it for what its worth and move on. I have seen so many people hold a bad investment for years before finally realising the monthly negative cashflow will not be recovered any time soon.

 

[djhaz]

Yeah, whatever I get for it will give me options. Sitting on it gives me depression!

 

[Gretsch]

Well that confirms my feelings on the CIP market in general. I've been scanning the RealCommercial site for months and it appears that most of the stock has had lots of page hits but no sales !

Then you look at the for lease pages and there's literally thousands of properties on offer. I don't know what to make of it.

 

[Pianissimo]

I found your ad on gumtree. That's the link.

http://www.gumtree.com.au/s-ad/melb...ercial/st-kilda-rd-office-for-sale/1024146021

Good luck Dave

 

[Ausprop]

Well that confirms my feelings on the CIP market in general. I've been scanning the RealCommercial site for months and it appears that most of the stock has had lots of page hits but no sales !

Then you look at the for lease pages and there's literally thousands of properties on offer. I don't know what to make of it.

that you are often better margin loaning bank stocks with fully franked yields?

 

[djhaz]

Cheers! Its's the first time it has been advertised this low so hopefully I'll get some interest from bargain hunters!

 

[jonesy]

you should try selling on businesschinese.com.au

 

[Linxlot]

Hi Jonesy have you had any luck with businesschinese?