Has anyone heard of Victor Kumar???

[travelbug]

So one partner does the buying and renovations and his business partner flogs them of to attendees at a $10 property investment seminar.

Nice guess but wrong.

The properties they buy and renovate are for their own portfolio. They do sell some but on the open market. They have NEVER offered to sell any of their renovated properties. They sometimes show to demonstrate how others can make money buying an unrenovated property and how it values up. They show in costs, costs of the reno and profit made (or expected sale price or value (if not selling). This is great for people wanting to do the same as it shows costings, timeframes and what to look for etc.

There is a buyers agency but they sell properties on the market (not ones they renovate first). The idea is to find below market value properties. They don't want to sell there's below market (if at all).

I really don't understand this tall poppy syndrome thing at all. Why do people (read Australians) have to try to rip down everyone that gets ahead?

.

 

[grossreal]

hi all
seems that the tread is all over the place
forb a start mr banger or what ever his name is or was did not buy property he sold the same property to more then one person thats a little different then investing
I have met victor a couple of times
and he buys property and reno them
if someone wishs to get a buyer agent and they wish to pay 10 dollars to go and meet investor(remembering that the venues are not for free) thats upto the person
but for me the question was a simple question
have you heard of victor kumar
the answer is yes not only that but I have met him
now my question is why what did you want to know.
and evand I don't mind people posting stuff on a free to air board but I would ask or check thing before sticking them up on a post
for me I would not like my name up on a board saying I have taken a holiday Courtesy of the government. when I haven't
you forget one very important thing and its called google
if you google a name and a post comes up with a persons name not a board name but your real name that would or could cause a problem.
what is posted here not gross real or travel bug or toony its a real name and I would like people when posting on real names post real facts and not just a guess.
just my view it may well not be others

 

[Jacque]

There is a buyers agency but they sell properties on the market (not ones they renovate first). The idea is to find below market value properties. They don't want to sell there's below market (if at all).

Buyers agents don't sell property- we buy on behalf of clients, so Steve, Nathan and Victor must also be acting as selling agents if this is the case?

I'm assuming Steve Waters (who's had a RE licence since April 2010) is the licensee in charge and the BA for Right Group. Nathan, can you confirm this?

I'm certainly not about ripping down tall poppies here at all- I think it's great what Nathan (amongst others) has personally achieved and I enjoy all the reno stories as much as the next person on here , but I also consider it important that the correct facts are provided on a public forum such as this, when discussing services that people are going to pay for to a registered business.

 

[Nathan]

Ok I have been watching to have a laugh I will step in and speak on behalf of all mentioned.

The reason of the business being operated from that date, is because the name had a slight change and it was restructured. Not that its a really biggy. Secondly Steve has had a lisence for about 10 years from memory. Thirdly, the renovations Steve and Victor do are sold via realestate agents to the general market. Finally the properties which they present to people are ones which will fit strict criteria all being purchased below market value, and having a strong cashflow position, thus giving equity at purchase time to be able to grow portfolio and strong cashflow to support itself and not eat into ones lifestyle.

For everyone whom wants to say bad things about them, pay $10 and see what their meetings are all about, they are very knowledgeable and have no agenda, and there is no sell. They dont need to do it, they do it to help others.

 

[Jacque]

Ok I have been watching to have a laugh I will step in and speak on behalf of all mentioned.

The reason of the business being operated from that date, is because the name had a slight change and it was restructured.

OK thanks for that Nathan so what was it called before it was The Right Group?

Secondly Steve has had a lisence for about 10 years from memory.

Not according to NSW Office of Fair Trading records:
http://www.propertyservicesregister...psr/LegalEntity/view.do?legalEntityNr=1288313
Prior to April 2010 he only held a certificate here in NSW from 2004, so he would not have been able to act as a licensed real estate agent or buyers agent prior to April 2010 unless he was working under a licensee in charge. However he appears to be the only person with any RE qualifications in The Right Group, unless you have other real estate agents? Please forgive me in advance if I'm wrong here- just trying to get the facts straight.

Thirdly, the renovations Steve and Victor do are sold via realestate agents to the general market.

I assumed this was the case- I imagine, given your schedule, the last thing you'd have time for is selling privately!

Finally the properties which they present to people are ones which will fit strict criteria...

So are these properties that paying clients for Steve's BA services view?

... all being purchased below market value

How do you establish this for your clients, Nathan?

...and having a strong cashflow position, thus giving equity at purchase time to be able to grow portfolio and strong cashflow to support itself and not eat into ones lifestyle.

Isn't this what so many investors want?! Would also guess here that the low entry price bracket areas that you're targeting provide much more opportunity here for such criteria.

For everyone whom wants to say bad things about them, pay $10 and see what their meetings are all about, they are very knowledgeable and have no agenda, and there is no sell. They dont need to do it, they do it to help others.

I've heard Victor speak and certainly admire his enthusiasm and drive, just I admire yours. For someone so young (well, compared to me anyway!) I think what you've achieved is terrific and very inspiring to other investors. I'm certainly not out to denigrate - in the interests of a public forum I'm just trying to establish facts for the benefits of all members. I'm sure you can appreciate this as a business owner.
Thanks in advance for addressing the questions so far and I look forward to your responses to the above.

 

[Nathan]

I am not 100% sure as I am not the business owner.

From my understanding is there was one word taken off name to be right group as a part of rebranding/restructuring. It was for nothing other than that.

 

[evand]

You dont have to be the business owner to know what its called. I know the names of plenty of businesses i dont own.

I am not 100% sure as I am not the business owner.

 

[Piston Broke]

For everyone whom wants to say bad things about them, pay $10 and see what their meetings are all about, they are very knowledgeable and have no agenda, and there is no sell. They dont need to do it, they do it to help others.

The only one I know about there was some young foreign (with a not so good english) inexperienced accountant giving incomplete accounting advice.

They dont need to do it, they do it to help others.

I've been doing this before you were born and I know plenty people who "dont need to do it" who choose to work and be active. I also know others who don't need it either and are as dodgy as hell. The thing is that the dodgy ones are always telling everybody "they don't need it", and the others will never mention anything and expect there work to speak for itself.
Hence anyone shouting "I dont need the money" always attracks suspicion.

Ok it's a business and they do charge $10 for the meetings. I think that's pretty cheap. Part of the business is also the Buyers agent but no-one is forced to use the service. For as little as $10 anyone can be part of the "giving".

Gee are you so naive?
Here's my take:

You hire them as BA: you pay a fee
They recommend finance: they get a commission
They recommend a lawyer: they get a commission
They recommend an accountant: they get a commission
They recommend a renovator: it's there own or they get a commission

The question being are you getting real unbiased advice or just siphoned into a commission machine.
And are these commissions disclosed.

I know if I hadn't met them I'd still be sitting on 1 or 2 IP's.

There's plenty information out there for those who want it.

 

[virgo]

Inexperienced accountant

Careful Piston Broke

If you are referring to the "Indian" young accountant who is always present at the Right Group meetings and whom Victor defers to on all things accounting related, he happens to be an ex Price Waterhouse tax manager ...how do i know? i used to work for one of the Big 8 accounting firms (in those days);and i use him personally as my accountant now....why? simply because he is also an avid property investor with more than 20 properties at last count!

btw he is not Indian but Bangladeshi!

 

[kissfan]

As per normal, the usual 'knockers' come out of the woodwork in these types of threads.

Regards
Marty

 

[Piston Broke]

Careful Piston Broke
If you are referring to the "Indian" young accountant who is always present at the Right Group meetings and whom Victor defers to on all things accounting related, he happens to be an ex Price Waterhouse tax manager ...how do i know? i used to work for one of the Big 8 accounting firms (in those days);and i use him personally as my accountant now....why? simply because he is also an avid property investor with more than 20 properties at last count!
btw he is not Indian but Bangladeshi!

I did'nt refer to any nationality (nor do i care), just not a very good command of the english language and incomplete tax advice re claiming part of your PPOR as an office.
Big accounting firms? They are sausage factories full of schmucks (with a few exceptions).
Would you like to list all the bankruptcies, ponzis and fraud schemes that they sign off on?
Obviously he's making lots of money doing those presentations.
I'd rather use an accountant who has >20 yrs of experience and explains things very clearly and thoroughly.
Once again those who's sales pitch is "they dont need the money" are most likely to give less value.

There are Shepards and there are sheep.
As per normal, the usual sheep come out of the woodwork in these types of threads.

 

[kissfan]

There are Shepards and there are sheep.

As this comment WAS directed at me before being amended....my response is BAAAAAAAA.

Regards
Marty

 

[Nathan]

You hire them as BA: you pay a fee
They recommend finance: they get a commission
They recommend a lawyer: they get a commission
They recommend an accountant: they get a commission
They recommend a renovator: it's there own or they get a commission

Thats just where your wrong, no commissions....

Theres a thing called refferals, and refferals become a part of your network. Networking brings upon oppourtunity. You get places out there that would get such kickbacks, and if you do you must disclose that. As far as I am concerned getting commissions for refferals are dodgy and I dont belive in it.

 

[Propertunity]

As per normal, the usual 'knockers' come out of the woodwork in these types of threads.

Marty, that is true of almost every thread

However, there are knockers and then there are others that may have a hint of coming across as such, but really are just asking perfectly justifiable questions.

Like many on here, I admire what Nathan has achieved at such a young age on a personal investing level. He is to be congratulated.

But on a professional level, if you are going to assist fee paying clients as a Buyers Agent, then the Office of Fair Trading wants to make sure that you are properly certificated, or licenced and therefore your work is covered by a compensation fund that can pay out clients for any mistakes made etc.

A number of posters have asked questions on other earlier posts like:

No, I don't think Nathan can charge fees - Nathan, are you a Licensed Buyer's Agent?

Nathan is listed as having an expired (2007) Certificate of Registration (no licence) here in NSW on the Dept of Fair Trading site, as per the licence check above, but perhaps he is working under a licensee in charge who holds a licence? I'm sure Nathan will clarify his status anyway.

And then on this thread:

I'm assuming Steve Waters (who's had a RE licence since April 2010) is the licensee in charge and the BA for Right Group. Nathan, can you confirm this?

So far the response has been complete silence or vague, almost unbelieveable statements like:

I am not 100% sure as I am not the business owner.

which did not sit well with me or my old sparing partner evand

You dont have to be the business owner to know what its called. I know the names of plenty of businesses i dont own.

Depending on what he does professionally, Nathan may not need a certificate. For example, a property research assistant, working for a BA, who is not offering or sourcing properties to the public, probably does not need one. Even if he does, then it is not hard to obtain and keep current, providing he does courses which accrue CPD points each year and keeps his nose clean.

Deliberately avoiding answering these questions just makes people "put up their radar".

So Nath, how about putting something on the public record?

 

[Nathan]

Ok I am not getting into a grilling match here and have nothing to hide. I understand a lot of those asking questions here are buyers agents. I dont have to answer any of these questions, but I will and I will make them VERY CLEAR and then we can all hold hands and sing a song.

Quote:
Originally Posted by kissfan
As per normal, the usual 'knockers' come out of the woodwork in these types of threads.

Marty, that is true of almost every thread

However, there are knockers and then there are others that may have a hint of coming across as such, but really are just asking perfectly justifiable questions.

Like many on here, I admire what Nathan has achieved at such a young age on a personal investing level. He is to be congratulated.

But on a professional level, if you are going to assist fee paying clients as a Buyers Agent, then the Office of Fair Trading wants to make sure that you are properly certificated, or licenced and therefore your work is covered by a compensation fund that can pay out clients for any mistakes made etc.

A number of posters have asked questions on other earlier posts like:

Quote:
Originally Posted by Kristine..
No, I don't think Nathan can charge fees - Nathan, are you a Licensed Buyer's Agent?

I do not own or operate a buyers agency! I do however assist Rightgroup with internal operations with their day to day activity.

Quote:
Originally Posted by Jacque
Nathan is listed as having an expired (2007) Certificate of Registration (no licence) here in NSW on the Dept of Fair Trading site, as per the licence check above, but perhaps he is working under a licensee in charge who holds a licence? I'm sure Nathan will clarify his status anyway.

Steve is the licencee, not me. I dont hold a full licence.

And then on this thread:

Quote:
Originally Posted by Jacque
I'm assuming Steve Waters (who's had a RE licence since April 2010) is the licensee in charge and the BA for Right Group. Nathan, can you confirm this?

Steve has had a lisence for around 10 years. There was changes when right group was restructured last year. I dont know all the fine details as it is not my business as i earlier stated. I know that everything is to compliance, and they have a high eye for detail with the operations. It appears there are buyers agents here whom are jealous trying to bring their competitors down. Water can be thrown however it will roll off the ducks back because there is nothing wrong with the duck and no need for anything to stick.

So far the response has been complete silence or vague, almost unbelieveable statements like:

Quote:
Originally Posted by Nathan
I am not 100% sure as I am not the business owner.

As I said, I am not business owner, why dont you call them and ask every detail of their business. Before I was affiliated with Victor and Steve, the business was once sligtly different. I am not sure, and I have never asked. I got better things to do then justify myself, or anyone I know to a public forum because people havent got anything else to do with their weekends.

which did not sit well with me or my old sparing partner evand
Quote:
Originally Posted by evand
You dont have to be the business owner to know what its called. I know the names of plenty of businesses i dont own.

Depending on what he does professionally, Nathan may not need a certificate. For example, a property research assistant, working for a BA, who is not offering or sourcing properties to the public, probably does not need one. Even if he does, then it is not hard to obtain and keep current, providing he does courses which accrue CPD points each year and keeps his nose clean.

I have been active and non active in the industry over the years and the office is lisenced, I do not hold a full lisence nor do I have to hold a lisence for my affiliation within the business.

Deliberately avoiding answering these questions just makes people "put up their radar".

So Nath, how about putting something on the public record? I have responded, now recipricate and give credit.

I dont have time to get into trivial things like this hence my lack of replys.
__________________
Propertunity
www.propertunity.com.au
"Investigating Opportunity In Property"
Real Estate Buyers Agents

 

[Propertunity]

I do not own or operate a buyers agency!

Well perhaps you are giving that impression from your own website: nathanbirch.com.au where under the services tab it clearly states Nathan Birch offers a range of property related services, including; ...Buyers Agency

Steve is the licencee, not me. I dont hold a full licence.

OK fine.

It appears there are buyers agents here whom are jealous trying to bring their competitors down.

Jealous - nah, too old for that neither do I think we compete. We operate in totally different markets with totally different client mindsets. I only wish you well for your clients and yourself.

I do not hold a full lisence nor do I have to hold a lisence for my affiliation within the business.

I'm pretty sure I covered off on that point when I said

Depending on what he does professionally, Nathan may not need a certificate. For example, a property research assistant, working for a BA, who is not offering or sourcing properties to the public, probably does not need one.

I have responded, now recipricate and give credit.

Well thank you for taking the time to reciprocate - it was appreciated.

You seem a bit defensive. I only wish you well as I said. I was just wondering why you specifically avoided the questions that were put to you by other posters that related to your licence or lack thereof, yet you did have the time to answer the other questions people asked of you.

 

[Nathan]

Well perhaps you are giving that impression from your own website: nathanbirch.com.au where under the services tab it clearly states Nathan Birch offers a range of property related services, including; ...Buyers Agency

Thanks for the heads up on this, this site was put together quickly some time ago and a new site will be launched shortly which is totally different.

This will be rectified on new site which will be live soon.

As for me being defensive, I may come across this way as the office is lisenced and protected by the compensation laws which protect everyone. If I have to bring out more personal information, I can devulge into how we ourselves have had an agent steal a few million from a trust account which we lost $30,000 from and was picked up by the compensation after drawn out legal proceedings.

I am defensive also to the point where I was being told by other members that we get commissions where actually I refer to one solicitor that Jacque refers to so Jacque will know if comissions are payable or not. Rightgroup states their comissions recived on the agency agreements, which is NIL. Who else on here has been paid a comission before? I know I have never been paid one. I know rightgroup recive none, I encourage you to get in contact with all their trades and services to confirm this and all the realestate agents out there.

I hear bad words about lots of people but let them go waist side, however Myself, Steve, Victor collectively have purchased hundreds of properties for ourselves, maybe even a thousand. And their buyers agency has purchased lots of properties. No one has ever had anything bad to say about anyone of us? Actually to be quiet frank, I refer a lot of people back to these proeprty forums from a POV networkings and expaning knowledgebase. The question I ask is has anyone ever had anything bad to say? NO. I say this because I have respect of my credibilty, and my name means a lot and I would never jepardise this so nothing to hide.

You seem a bit defensive. I only wish you well as I said. I was just wondering why you specifically avoided the questions that were put to you by other posters that related to your licence or lack thereof, yet you did have the time to answer the other questions people asked of you.

BTW

When this thread was started Victor Kumar was a mortgage broker, he is qualified lisenced broker. He doesnt operate a brokerage business, nor does he refer for comissions on this as it would be a conflict of interest. The change of name was due to this as when the partnership between steve and victor evolved, and they restructured their business. I shouldnt talk on their behalf, but hope my words have clarified a few questions as they do not post on these forums.

 

[kissfan]

The change of name was due to this as when the partnership between steve and victor evolved, and they restructured their business. I shouldnt talk on their behalf, but hope my words have clarified a few questions as they do not post on these forums.

I'd say they're (Victor & Steve) too busy walking the walk

Regards
Marty

 

[Propertunity]

..... but hope my words have clarified a few questions ......

Nathan, I think it was worth your while posting your explanations. Cheers, Alan

 

[Piston Broke]

Thats just where your wrong, no commissions....
Theres a thing called refferals, and refferals become a part of your network. Networking brings upon oppourtunity. You get places out there that would get such kickbacks, and if you do you must disclose that. As far as I am concerned getting commissions for refferals are dodgy and I dont belive in it.

You can call it a commission for procuring a sale or a referal fee, they are the same. And so is the conflict of interest, just like an MB or "Fin Adviser" (which in effect they are not.)
Call them what you will but with all due respect you came here promoting a business (TRG), then I see nothing wrong with questions about the business your promoting including what you do and how you get paid.
And i don't hide my stance on the conflict of interest, and there's plenty of reasons in the financial pages of the last decade as to the reasons.
If you offer a great value service, then I dont see the problem.
Though you could also threaten legal advice if your name is ever mentioned as that also seems to work on this forum too.
But really, what's wrong with a bit of transparency and being upfront?
I can only do any good biz a lot of good.

I know rightgroup recive none, I encourage you to get in contact with all their trades and services to confirm this and all the realestate agents out there.

Actually I did ask a while ago (when you promoted TRG meetings) and the answer was yes, though you may call them referrals and not commissions. Of course this may have changed.

No one has ever had anything bad to say about anyone of us?

Actually a few have, though i also take that with a few grains of salt, and thus ignored it.

I dont have to answer any of these questions, but I will and I will make them VERY CLEAR and then we can all hold hands and sing a song.

Great! How bout this one
http://www.youtube.com/watch?v=RBHZFYpQ6nc

BAAAAAAAA.

Thank you. That's the best and most meaningful contribution you have made thus far.