Ian Hosking Richards from Rocket Property Group

Hi everyone, I am just checking to see if anyone knows about Ian and Rocket Property?

http://www.rocketpropertygroup.com/

Has anyone had any dealings with him? I have tried google but I have had no luck finding any reviews. Good or bad.

I saw him on the cover Your Investment Property and his write up sounded good but I want to o a bit of research first!

Anyone???
 
They offer a free service. I wonder how they can do that?

They're also only advertising off the plan appartments. It seems strange that these types of investments are the only one's recommended by groups like this.
 
The website is only new that's why there is nothing listed yet. Apparently he does new houses too and I am being offered one in Gladstone (new subdivision) a unit in Rockhampton or something in Parramatta in Sydney.

He says the way he gets paid is acting as an estate agent and the seller pays him the commission on the sale which is why it's free to me. He says he identifies good spots then finds developers (who he builds relationships with) who need to move properties to get thing going for the development so you can get them at a good price or the final few in the development so the builder can move on to the next one.

My concern with Rocket is are they really interested in me getting rich and set up or working for the developer to help their sales and make their own comms.

Thoughts?
 
a brief search found his name and photo on a website, m2 pacific, saying he was associated with a company called banabas northcote.

that company is no longer registered with ASIC, from what i can see on their website.

have another google and see.
regards
 
I did a google and I saw that but I didn't know what it meant exactly. Are you saying that he was involved in a business that went bust before?
 
no scotty i have no idea simply that on ASIC that particular company is shown as no longer registered.

you could ask him about his experience etc?

regards
 
Ian Hoskings...had a write up about him a few months ago in the Your Investment Property Magazine.

He apparently has over 40 properties and buys only new for depreciation. In the YIP Magazine he is said to be worth aobut $14m gross and $3m net.

I am not convinced now is the time to buy in North Qld....

Hope this helps.....
 
run a virus scan if you clicked the link!!!!!!!!

My virus scanner picked up a Trojan horse when i tried to click on the link in Scotty's original post.:eek::eek::eek:

RUN A VIRUS SCAN IF YOU DID THE SAME!!!!!!!!!!!!!!!!!!


cheers
UC:)
 
Developers deal with (for lack of a better term) property 'planners' before they let a REA in. That way the clients brought in are pretty much prequalified and been screened... so they arent just tyre kickers.

The properties are given to the planning groups before listing with REAs. We've got a similar 'arm' but the properties are usually located in more regional areas

Isnt Gladstone getting a bunch of LNG infrastructure put into it...?
 
Hi guys, I don't know why it has a virus? I just clicked it and the site seems to work fine. My concern with this guy is he is offering properties he already knows of so I feel he has his interest at heart not mine (like he claims). If he just told me say Gladstone was good and then WE went out looking for something to purchase I would be much happier but to suggest it and say "oh look what I have" is a little too convienient that he just happens to have access to a property (which he says he has bought 2 beside it of course) in that exact spot. See what I mean?

Hey Sash...why wouldn't you buy in Nth Qld?
 
Hello Everyone, thanks for all the interest and comments, I had no idea I was so popular! Please allow me to reply personally to some of the comments that have been posted. To Belu:The website www.rocketpropertygroup.com.au is owned by me and our brand new website, which is currently being parked in a .com address for technical reasons, will be transferred across to our regular address very shortly. PT Bear: Our new website is not completely finished yet and we have not been advertising it, although a surprising number of people seem to have found it. The properties shown are are just generic stock that we needed to finalize a template, they are not necessarily available to purchase. As REAs we are paid commissions from the vendors, hence the 'free service' for purchasers. Not quite sure what you mean by 'groups like this' - could you explain? Scott: I truly believe in a WIN WIN situation. Of course I make money, I have a fantastic ethical business doing something that I love, I have amazing clients, great staff and a lot of happy clients that have made plenty of money from using our service. Just think of the business that you are in - are you selling your product just to make money, or do you really believe in that product as I believe in what I do? Barnabas Northcote is and never was a registered Company. When I first started off my business I had a laptop, a mobile, a spare bedroom in my home and a car. Barnabas Northcote was my great great grandfather, and I registered this as a business name. As my business grew, I needed help and took on staff, and it came to a point where my accountant advised me that a Company structure would be more suited to the growing business. Whilst changing the business structure from a sole trader to a Company, there was the opportunity to rebrand, and that is what I did. Sash: Your comment 'I am not convinced now is the time to buy in N Qld' needs clarification. Exactly why not now, and where would you suggest as an alternative. What makes you qualified to advise people not to buy in this area? As you know I have been investing for a while now and have accumulated a good portfolio, many in North Qld, and I am continuing to purchase in this area. My last purchase was a 4 bedroom house and land in Gladstone, which I bought 2 days ago, and I am very excited by the potential for this purchase. My Senior Sales Manager also bought one at the same time. Hope this clears up a few misconceptions and queries. Cheers Ian Hosking-Richards
 
Ian.....I stand by what I said....Nth Qld does not offer the same potential as NSW and VIC at the moment.

I agree with Gladstone...as there is alot of infrastructure going in.

I have never been a fan of new property as there is a price premium built in.

As for you querying what makes me qualified to advise...I am not as I have no formal qualifications. What are your qualifications. By the way...the comment I made was not personal...just my thoughts. However, I have reasonable portfolio which has low LVR - 33%.

Since you are happy to offer clarifications, I would be interested to know the following:

1. In regards to the new properties you have bought...what sort of CG growth have you had on these in the last 2-3 years? I buy old stuff...some of them have had 45% CG.

2. What sort of yield are you getting on the newer properties you and your group are buying in N Qld? I am close to 10% on some of my purchases from 2-3 years ago.

3. Since you are in a business...how are you compensated for assisting people with purchases?

4. I note that your portfolio is heavily geared.....i.e. over 75% LVR ($3.5M in equity with $15m in total property holdings - according to YIP)...would be curious to know how you got financing for this? Will it work in the current credit environment? I still have some financing left but it is getting harder even thought my portfolio is less than 33% LVR.

5. Do you feel that there is any risk in investing in over 40 properties in one are of the country? I invest around the country - i.e. Sydney, Adelaide, Melbourne, Brisbane ot mitigate this risk.

I look forward to your response...


Sash: Your comment 'I am not convinced now is the time to buy in N Qld' needs clarification. Exactly why not now, and where would you suggest as an alternative. What makes you qualified to advise people not to buy in this area? As you know I have been investing for a while now and have accumulated a good portfolio, many in North Qld, and I am continuing to purchase in this area. My last purchase was a 4 bedroom house and land in Gladstone, which I bought 2 days ago, and I am very excited by the potential for this purchase. My Senior Sales Manager also bought one at the same time. Hope this clears up a few misconceptions and queries. Cheers Ian Hosking-Richards
 
I believe that Nth Qld is still correcting...as prices there have tripled even quadrupled in the last 10 years. Also the flow of migration there has slowed as the resources boom slowed and retrenchments slowed.

My feeling is that is is Sydney's and Melbourne's time....current results show that the markets are the strongest there. Further...Sydney has the most upside as it had low or negative growth for the last 6 odd years.

Hi guys, I don't know why it has a virus? I just clicked it and the site seems to work fine. My concern with this guy is he is offering properties he already knows of so I feel he has his interest at heart not mine (like he claims). If he just told me say Gladstone was good and then WE went out looking for something to purchase I would be much happier but to suggest it and say "oh look what I have" is a little too convienient that he just happens to have access to a property (which he says he has bought 2 beside it of course) in that exact spot. See what I mean?

Hey Sash...why wouldn't you buy in Nth Qld?
 
Hey Sash, that was a quick reply! And detailed. For the record, I hold a Diploma of Financial Planning, and am an accredited member of the Property Investors Association of Australia, which qualifies me to prepare SOPIAs (Statements of Property Investment Advice) which is basicly a financial plan for investing in property. Sounds like you really know what you are doing, and have a very successful strategy. I have met many successful investors, so I realize totally that my way (buy new etc) is not the only way. I have spoken to many who have gained financial independence by buying old properties, doing subdivisions, renovating, developing etc. I just like to make things easy! 10% is a fantastic yield, especially if you are on a variable interest rate at the moment. However I am more concerned with net yields than gross yields,and new properties allow me to much better anticipate my cash flows. Without knowing the specifics of your portfolio, it is obviously harder to comment. 45% in 3 years - you obviously have the gift and I congratulate you - those results are awesome and I cannot pretend to be able to equal that kind of growth. I would like to think that over one or two doubling periods I would be averaging around 10% growth per annum, but do my modelling on a 5% yield to be conservative - even at this level my portfolio is sufficient to support my future needs. I think it was mentioned elsewhere that I am compensated by the vendor of properties listed through my real estate agency (although I prefer to think of myself as a serious property investor and not a REA, I need the license for compliance issues.) I agree with you that it has become much more difficult to obtain financing in the past few months, and I will not be able to continue adding to my portfolio as aggressively as I have been in the recent past, nor do I need to. Despite having the majority of my property portfolio in Queensland, I am a big advocate in geographical diversity! Although I have just bought in Gladstone (couldn't help myself!) you are spot on with your tip for Sydney and Melbourne. Sydney (I have 2 properties there) has been flat-lining for quite a while now and is looking really undervalued compared to other areas. Melbourne is also a great spot, with the much lower Council infrastructure charges for new developments assisting affordability. Great to have chatted with you, we seem to both be getting great results from quite different strategies. Now I have to go back and do some work - look forward to chatting on the forum again soon. Have and awesome week. Ian Hosking Richards
 
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