Ian Hosking Richards from Rocket Property Group

[Scotty Tav]

Thanks for posting Ian! I was wondering how long it would take to see you on here

Just doing my due diligence as I am sure you will understand and appreciate!

Btw I never got those emails from you. Hope your party was good!

Scott

 

[sash]

Ian,

Congratulations....there are very few people who advise on property with DFPs and with membership of PIAA!

I am pretty lazy...so I just buy and hold like yourself. I have a day job so...it may take a while to reach your portfolio size!

I do agree that with a portfolio your size even 3%pa growth is going to return 450k in equity! So if you did 7%...you would make over $1m....nice!

Agree with your comments on Gladstone, Sydney and Melbourne. Melbourne is an are where do to low state govt./council levies it make buying newer properties sound.

Talk soon.....

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

 

[Scotty Tav]

Hi everyone, just re-reading my previous posts I wanted to clarify a couple of things. It sounded a bit unflattering reading it back. I'm not having a go at Ian or Rocket Property. My meeting with Ian was very good and I am seriously considering dealing with his company. He is a genuinely nice guy and I hope one day to have a portfolio half his size!

I was just throwing the questions out there to get some feedback from this board as it has been a great resource so far.

Cheers.

 

[Mamaof3]

just on a seperate point about a reply someone posted about the website not being .com.au

doesn't have to have .com.au to be australian or legit....depends on what you choose. We have a website ourselves and its just .com (no au at the end) because it only costed $1/yr to register!

 

[tuo.donga]

Awesome Guy!

Met Ian a month ago, Genuinely a very very nice human being. In our discussions we talked about property which he was really knowledgeable about and also talked about what his doing to make difference in the world. We had dinner in Sydney and i discovered that he is a Genuine a kind hearted person, and i highly recommend his company if its investment property your after, cause he will find good property to invest in and you want to deal with someone who has integrity.

Thats basically what Rocket does, they do the due diligence for good growth and income prospects and recommend clients to buy them and look after your portfolio all the way. (and im not paid by Ian or Rocket to say this, based purely on getting to know the guy, his really awesome!)

I'll be buying in Gladstone very soon. $68B of infrastructure going through? crazy not to. who knows what happened with Townsville? well.. there you go.

 

[redwing]

Awesome Guy

Isn't that thumb pointing the wrong way then

Pollice Verso (Thumbs Down!)?

 

[grossreal]

hi all
for what its worth far north qld is a bit better then sydney at this point of time in my way of looking at cycles.
yes sydney is fine if you want to buy
but if you want growth and quick growth then parts of nrth qld are a bit better but its upto what you want
what I find funny in this post is most people want to find out this ian guy gets and if he makes money out of what he does.
well unless he is a charity he has to
I have heard of people wanting some thing for nothing.
but they also want to know how he makes his money.
use him or don't its upto you but please asking how people make money or how this person gets this or that tells me you have no idea.
people make money out of sales and if he qualifys the sales and you want to buy fine but don't think for a minute that there is a free lunch.
and if he makes money good on him.
what alot of people would love is a web site
that gives
an area
a property
15% min return
history of the area
growth of the area
a 95% loan
a solicitors name with the lowest cost of the mortgage and paperwork in the area of the property or within 5k
and accountant to do the paperwork with no fees for 12 months
and a list of a min 20 properties
no joining fee
and free advice
and free membership and no ongoing costs.

 

[bornfree]

Met Ian a month ago, Genuinely a very very nice human being.

Why always the first post !

 

[bornfree]

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.

Very risky strategy, one false move, you are gone !
Sash, did you ever buy outside the capitals ?

 

[redwing]

Hi everyone, just re-reading my previous posts I wanted to clarify a couple of things. It sounded a bit unflattering reading it back. I'm not having a go at Ian or Rocket Property. My meeting with Ian was very good and I am seriously considering dealing with his company. He is a genuinely nice guy and I hope one day to have a portfolio half his size!

I was just throwing the questions out there to get some feedback from this board as it has been a great resource so far.

Cheers.

Did you wind up purchasing through Rocket Scotty?

I first read about Ian Hosking Richards in the April 2009 YIP magazine.

According to the story; he was earning $35,000 p/a as a warehouse manager and started investing in property in 2000. By 2003 he was able to quit his day job and retire from full time work through his methodology of acquiring investment properties.

He had accumulated a portfolio worth over $13 million (now $14 million?). Ian is now the Chief Executive Officer of Rocket Property Group.

2007 Success & You Link

 

[sash]

Agree that buying 40 properties in one location can be a risky strategy...but it also depends on the level of equity you have to ride out things, whether you are tied to on bank, so on....

With the exception of 2 properties all my properties are in greater areas (i.e. includes outer suburbs within 35 klms) of Sydney, Melbourne, Adelaide, and Brisbane. One of two could be classified a extended suburb of Sydney as it is on Woy Woy on the NSW Central Coast.

Very risky strategy, one false move, you are gone !
Sash, did you ever buy outside the capitals ?

 

[Piston Broke]

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 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. grew, I needed help and took on sing 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

Modern PC keyboards are currently equipped with a cool little device called the enter key that actually starts a new line when typing text into your PC and is show in read for your convenience IanHR.

 

[rchad]

Ian Hosking Richards is actually a lovely man and very approachable

 

[sash]

OK......and your point is??

Ian Hosking Richards is actually a lovely man and very approachable

 

[rchad]

My belated point

My point is that Ian is a genuinly nice person - he respects that there are a myriad of ways to build wealth - I am aware that he advocates for new or near new, tends to be regionally based or offers property opportunities in fringe areas from major cities (eg Parramatta; Redbank Plains) including an educative service to new/passive investors. I on the other hand am an active investor, like to do my own research, take on board all Ian's strategies including my own from wider reading and research - for example I have also purchased an older property due to location ie. on the water and new inner city apartments in Bulimba/Hamilton in addition to some regionally based property. At no time have I experienced Ian being negative about my personal property choices - simply supportive and helpful. I think it vital to sustain a balanced perspective in property investment - I read widely and have adopted an eclectic approach taking some key learnings from many experienced investors to create my own personal strategy.

 

[Anabelle]

Rocket Property Group Ripoff

Rocket Property Group do not have their client's best interests at heart. They talked me into buying a house and land package in Gracemere ( Rockhampton) - by the time my house was built the market was vastly oversupplied. Now I am stuck with a huge dud that I can't even sell and now has very low rent. I am very unhappy and feeling totally ripped off. My advice - steer clear!!!

 

[rchad]

Experience of time

Rocket Property Group do not have their client's best interests at heart. They talked me into buying a house and land package in Gracemere ( Rockhampton) - by the time my house was built the market was vastly oversupplied. Now I am stuck with a huge dud that I can't even sell and now has very low rent. I am very unhappy and feeling totally ripped off. My advice - steer clear!!!

Hi, it must be tough if you bought into that estate now - we bought there in 2009 and it is still neg geared - very limited growth expected due to oversupply, same with their properties at Cairns esp Clifton Beach - will take more than a Casino to increase equity substantially as Cairns is too dependent upon tourism...from our experience, Rocket offers finance through Multifocus (Philippe Brach) and others, and legal services etc.. we went through our own ...much cheaper...we now have 9 properties of which the latter are doing the best (our research and choices with more experience)..do your own research and rely on nobody's word - data and facts is all that matters and at the end of the day your property is only worth what a buyer will pay for it - not the inflated hopeful dreams of prices that developers set with no negotiation

 

[Coota9]

^^^^^^^
Would agree that I looked at buying through them also but decided against them as from my research they sell OTP that are well above their market value..

 

[IanHR]

Gracemere - A Different Perspective

I apologize for the delayed reply, I do not follow forums on a regular basis and one of my investors has only just alerted me to some comments regarding Gracemere. Yes unfortunately the area has not shown much growth in recent times. This is entirely normal. No property market is capable of delivering strong linear growth indefinitely. In my experience 3 years at most of strong growth can be expected in any doubling cycle, with the remaining years much more subdued. I believe that the fundamentals that lead us to recommend this area in the first place are still sound, and that the area will rebound in time and be pulled back to a respectable long term average. Our recommendations in Gracemere were in the premium estates, and with one of the best builders in town. Unfortunately since we began to recommend Gracemere there have been number of houses of much lesser quality built in surrounding estates where the land developers have not been so selective in their choice of builder. This has had the effect of lowering the median price and median rent for the area. At the same time demand has fallen off slightly and this short term volatility has translated into the soft market that we are currently experiencing. My General Manager Lindy Lear purchased in Gracemere and her rent has dropped from $420 pw to $360 pw. At the lower rent she is still cash flow positive after her tax benefit (just!). We all have high expectations of how our properties should perform, and it is always disappointing when our expectations are not met in the short term. But when things do not go exactly according to plan, it is essential to maintain a positive attitude. I am sorry to hear that 'Anabelle' feels ripped off and very unhappy, and that she feels that she is 'stuck with a huge dud'. That kind of emotional response to short term market volatility can lead to bad decision making. I would encourage her to contact us so that we can give her some support and a new perspective.

 

[IanHR]

^^^^^^^
Would agree that I looked at buying through them also but decided against them as from my research they sell OTP that are well above their market value..

To Coota 9, just to clear up any misconceptions. Firstly, we do not only recommend OTP, not sure where you got that idea from. Would also welcome some specifics regarding your assertion that we have been offering OTPs that are above market value. We are certainly offering premium properties in premium locations, as we are targeting a premium tenant. We are looking to offer affordability and value, but I'm not interested in 'cheap'. We always look for fair market value and support this with comparables and upfront valuations. If you could tell me exactly which properties you feel were not offering good value, and give me some comparables to support your assertion I think other forum members would find this of more value than sweeping generalizations