Investor Clubs

[WebBoard]

From: Mike .


WEE BIT LONELY!!
From: Bill
Date: 1/28/00
Time: 1:07:39 PM

Hello out there!

I've placed a few messages to the forum (PI Helpers, New Townhouses etc, Investors Club/ Property Investors Group) and check excitedly to see if anyone has heard my voice in the wilderness.........hoping someone can help......

ESPECIALLY THE INVESTORS GROUP QUESTION. HAS ANYONE HAD DEALINGS WITH THIS COMPANY?

Looking forward to 'hearing' a friendly 'voice'!!

Thanks, Bill

 

[WebBoard]

Ric

Reply: 1
From: Mike .


Re: WEE BIT LONELY!!
From: Ric
Date: 1/31/00
Time: 6:10:11 PM

Hi Bill

I am currently in the process of buying a property through the Investors Club. So far, its all going smoothly. I am from Tassie, and the property is in Brisbane, where, according to all the reading I have done, is where one gets best capital growth. I already have a property on the Sunshine Coast, and I have been amazed (despite scepticism from family, etc) at the financial benefits that have accrued already, mainly in the area of taxation relief.

IC are subsidising me a trip to Brisbane this week to view the intended purchase. Having bought the Sunshine Coast property through a development company, I have been impressed at the lack of pressure exerted by IC - its up to you how far you go, and there are no follow-up phone calls. They obtain new properties directly from the builders (hence cheaper), allowing top depreciation taxation relief, and have support staff that point the way to very competitive finance, property management (essential when I'm so far away), etc. They even guarantee against vacancy in the first 12 months.

I'll have a better idea in a week how it all comes together - but at the moment, I am quietly impressed with IC. By the way, they conduct seminars showing the benefits of PI - the one in Hobart I went to last month was very well done.

Ric

 

[WebBoard]

Les

Reply: 1.1
From: Mike .


Re: WEE BIT LONELY!!
From: Les
Date: 1/29/00
Time: 11:59:21 AM

G'day Bill,

You must have been so "down" you didn't check the past entries before entering the "lonely" note ... So do whip back and take a look at the IP's entry.

I can't help with your Melbourne question - too far South for me - I'm not into penguins and icebergs .... ;^)

Re Property Investment Group, I have not purchased thru them, but I have attended a couple of meetings, and had a rep attempt to sell me some Brisbane property (suits me, I'm from Brissie). I noted (and mentioned) a mistake in their valuation program which tended to put a prettier face on some of the figures .... Watch out for it if you are thinking of dealing with them - I believe it was in the area of "if you don't have a tenant" it painted a very rosey picture, but in actual fact, the Excel spreadsheet was WRONG. And, I joined and got my own copy of their software, and there it was again - WRONG.

Anyway, I ended up going my own way and not using them. A combination of factors, but lets just say I have a healthy scepticism so tend to trust myself more than others. That's not to say I wouldn't use them in the future, but I'd be checking their spreadsheet figures carefully before committing, as I do with all such offers.

Can't compare them with Kevin Young's group as I've never had figures from the latter - I tended to get a better "feeling" from the latter though - opinion only here, FWIW.

Hope others can add some value.

Regards, Les

 

[WebBoard]

Bill

Reply: 1.1.1
From: Mike .


Re: WEE BIT LONELY!!
From: Bill
Date: 1/30/00
Time: 9:36:58 AM

Thanks Les. Really appreciate your advice. I've gained a lot by reading your comments to other people on the forum. You do a great job in this wonderful world of info sharing!! Sorry about missing your earlier comment re. PI. Unbelievably I did check entries before sending my note however should try with my eyes open next time!! Look forward to future correspondence.

Cheers, Bill