Has anyone had much experience using investment clubs with success, for example The Investors Club (http://www.tic.com.au/en-au/home.aspx)?
Investment Clubs
- Thread starter mgs4
- Start date
Hi,
I myself have not used them but a client has twice. He seems happy.
See if you can find a few people who have used them and see what their thoughts are.
Like I said; I myself have not used them so please do research before making a decision.
What is it that they offer that others don't for example?
Also what role does the club have, for example are they making money from members?
I am not saying this would be wrong but you should know so you can determine if its worth it.
Just some thoughts.
Cheers,
I myself have not used them but a client has twice. He seems happy.
See if you can find a few people who have used them and see what their thoughts are.
Like I said; I myself have not used them so please do research before making a decision.
What is it that they offer that others don't for example?
Also what role does the club have, for example are they making money from members?
I am not saying this would be wrong but you should know so you can determine if its worth it.
Just some thoughts.
Cheers,
They've been around for years. They sell people interstate properties off the plan. Their claim is that they'll help you build a portfolio and become wealthy.
When I looked into them years ago they were not disclosing how much commission they take from the developer (this may have changed since). Essentially people were paying significantly more than the property is actually worth. They sold interstate properties because I believe they were targeting people who didn't know the market they were buying into.
Don't be fooled. They're not a club, they're a business. They've left behind a lot of people with properties that aren't worth what they paid for.
If you want to invest in property, do your own research. If you can't, then pay for a buyers agent to source the property for you, don't go with a group that tells you this is part of their service. Never take advice from the person selling the property. They make an obscene amount of money by charging you too much for the property.
When I looked into them years ago they were not disclosing how much commission they take from the developer (this may have changed since). Essentially people were paying significantly more than the property is actually worth. They sold interstate properties because I believe they were targeting people who didn't know the market they were buying into.
Don't be fooled. They're not a club, they're a business. They've left behind a lot of people with properties that aren't worth what they paid for.
If you want to invest in property, do your own research. If you can't, then pay for a buyers agent to source the property for you, don't go with a group that tells you this is part of their service. Never take advice from the person selling the property. They make an obscene amount of money by charging you too much for the property.
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