Investor Clubs

Discussion in 'Original Property Investor Forum Archive' started by WebBoard, 15th May, 2002.

  1. WebBoard

    WebBoard Guest

    From: Mike .


    The Investors Club
    From: Jason
    Date: 05 Dec 2000
    Time: 21:34:41

    Hey everyone,

    I've only come across this forum in the last couple of days and I must say what a brilliant idea!

    It's great to hear from "normal" investors who haven't got a vested interest in pushing properties.

    Anyway, I would like to share a small portion of the dramas I had in my dealings with the so-called self help group - "The Investors Club". I signed an expression of interest on a unit for $150,222 (not negotiable) with the investors club on a Sunday afternoon last year. On the following Monday morning I phoned a real estate agent in the area of the IP and asked what units they had for sale. In a matter of 5 mins I had a fax stating the EXACT same property for $145,000. I ended up buying through the real estate agent for $142,000.

    I told the Investors Club what I thought of their great discount to members and never thought I would hear anything about them again. That was until I saw Lisson Pty Ltd on my solicitors settlement sheet. Lisson had received $11,000 from the sale of the property. I thought this was great coming from a self help group. I'm now getting mail from an Australian Negotiators Group that looks very familiar. If anyone knows what they are peddling could you please let me know.

    It would be great to get feedback on anyone who has had dealings with "The Investors Club" and has had the same problems as myself.

    Cheers, Jason
     
    Last edited by a moderator: 5th Apr, 2017
  2. WebBoard

    WebBoard Guest

    Lined Pockets

    Reply: 1
    From: Mike .


    Re: The Investors Club
    From: Lined Pockets
    Date: 08 Dec 2000
    Time: 15:56:51

    Are you saying that Lisson received $11K from your $142K purchase thru the RE. I know they receive a standard $11K commission on each purchase by a club member thru the club. If you had purchased the property thru the Investors Club at $150K - whose pockets are being lined???

    I almost purchased a BNE IP thru them in Canberra but declined to proceed after my own investigations (phoning REs in the area) revealed that their prices are set above the local market expectations and that the rents that they suggest are not acheivable.

    I understand that people have purchased 2000 IPs thru the club and that 1% (20 IPs) are currently NOT tenanted. That is why they offer their NO TENANT NO PROBLEM policy.

    Most interesting - it certainly pays to do your own research & purchase negotiations - don't leave it to others.
     
    Last edited by a moderator: 5th Apr, 2017
  3. WebBoard

    WebBoard Guest

    John

    Reply: 1.1
    From: Mike .


    Re: The Investors Club
    From: John
    Date: 08 Dec 2000
    Time: 14:12:39

    Jason I am very interested to hear about your dealings with "The Ivestors Club". Please call me on 03 9228 7707 or 0411 489 177

    Cheers John
     
    Last edited by a moderator: 5th Apr, 2017
  4. WebBoard

    WebBoard Guest

    Maurice

    Reply: 1.1.1
    From: Mike .


    Re: The Investors Club
    From: Maurice
    Date: 12 Dec 2000
    Time: 13:29:32

    Thanks folks. My wife and I are just about to start researching our first investment property. I just subscribed to the Investors Club newsletter and gave them my postal address. I will avoid the club and stick to this forum I think!
     
    Last edited by a moderator: 5th Apr, 2017