I dont know about Harvard Securities, I just wanted to say, that the road gets a whole lot easier over time, hang in there, try reading as many of the archives as possible, there is a whole world of information there.
~Life is a daring adventure, or nothing at all~
When I first began looking into PI I went to a seminar they were running and then had one of their representatives come to my house. Sounded great what they were telling me so I went to see them at their office to see some properties they had. Spent a good couple of hours with me and the figures "looked" excellent. Problem was the suburb that they were telling me was so great, was an outer suburb that had never heard of the words "capital gains".
Harvard produced a beautiful report which I later showed to some more experienced IP investors than myself who had trouble understanding it and told me to stay away.
Can anyone else provide more feedback on Harvard Securities?
I attended their Property Seminar 3 weeks ago and only yesterday met up with one of their representatives who is a Portfolio Manager.
They did suggest buying off the plan properties that they acquire from developers.
I made it very clear that I was not interested in their properties. I want to find and choose my own.
What I was interested in was some of the other services they provide, eg:
Property Management (even though they charge 10% which is higher from the average 6%)
and Portfolio structuring (which I will use until I fully understand how to do it myself).
Mate my alarm bells are going off here. There is enough info in the other people's postings on this topic that says...'stay away' no matter what is being touted or offered.
You have no need to go rushing into any investment, especially property! There is bucket loads of info in the current forum and all the 'archived' forum. Signing up in any way, shape, or form with these development type groups IS NOT THE WAY TO LEARN!!!...unless you want to do your dough.
You are off to a positive and fortunate start by simply having come in here and asked the question...well done! The people have responded with good intention....heed the warnings Mannie!! Too often someone comes in here seeking information on how best to handle their situation whereby they have been screwed by not having done any research before buying their dud investment property.
Mate there is no need to rush....try and divorce yourself of the B.S hype on Money and Investment Property type programmes and Hot Auction dribble on tv. You can still buy a great IP by doing some basic ground work in your preferred suburban, or whatever, area. Forget about the hyperbole of 'Property Boom' and 'Property Collapse'. My immediate suggestion would be to simply get along to any of the meeting groups that have since come to being from this forum site...such as Freestylers, Cash Flow Meetings and so on...you'll find states and dates in the section called 'Meeting Point'. If it costs you a few bucks to join, GREAT! It means you are going to get to access real information to help you purchase something which will confirm that membership fee as money very well spent!
The best thing here for you at this point Mannie is that there are plenty of people who are experienced in IP and are very willing to share thoughts and ideas with all of us...i'm no expert but I am a hell of a lot wiser from this forum and three years of regular reading (and sometimes posting) of it.
Property is not a get rich quick toy! Make sure you know what you are doing!!
Haven't bought anything in the last couple of months. Still looking though. Have made some offers at prices where the numbers work for me. Unfortunately it seems that everyone else is working by a different set of numbers and is willing to pay a lot more than I am. *sigh*.
In chapter 4 of Jan's new book, More Wealth from Residential Property, the role of financial advisors is covered. "...most financial advisors are not trained in the area of property investment. The Diploma of Financial Planning (DFP) tertiary level course provided by the Financial Planning Association (FPA) for advisors wishing to attain the highest level, titled Certified Financial Planner, does not include the study of investment in property."
Jan suggests seeking advice from financiers/ mortgage brokers, real estate agents and other property investors (at this site!!!)
Why not invite some of the banks and smaller lenders to advise you in your own home! Mortgage brokers are also an invaluable source of information as they teach and learn from property investors daily.
Before purchasing my first IP, whenever I needed financial advice, help or reassurance, I would visit this forum and my very own "financial advisors" would answer my questions.
Thanks to all the forum members (financial advisors) who have helped and are helping me to become a successful property investor!
Good Luck Mannie,
If anyone is still interested, given this string in the forum has been idle for 7 months, I visited Harvard Securities last Wednesday, to attend a job interview(I've been out of work almost that long but not looking the whole time). Well they certainly spent someone's money on their offices as they look like something out of a future Star Wars film.
My brief was to sell new developments via a set in house presentation (had to be mostly at night so that both 'decision makers' are likely to be home. Those of you familiar with US author Tom Hopkins would know that his style of sales pitch is like showing a blank poster then slowly showing partially filled posters with gee whiz facts and figures until unsuspecting buyers hopefully say 'where do I sign?' and the salesperson avoiding mention of cost until the end.
I really wanted to be a portfolio manager of IPs so that I could advise when they could perhaps expand their portfolio without being constrained by pushing them to new properties. I had to decline the job, I'm more of a marketer than a direct salesman (I've dealt in impex trade finance in banking sector, I don't go door-to-door to clients touting business, and follow word of mouth leads, and dealing with corporations is far different to relatively novice property investors).
There are dangers aplenty with not only buying such an IP (probably overpriced) but in blindly accepting the tenancy guarantees Harvard offers (from their 9.8% management fee c/f normal Victorian RE agent's 7.0%)although I haven't studied the 'guarantee' I just relied on my interviewer.
Further note-if anyone has heard of Latrobe Property Research they are with Harvard(now) one and the same. Apparently they have pulled out of the seminar business citing that they don't want to be associated with the 'dodgy' seminars going around.