My wife and I were interested in buying through the club but after investigation we were turned off due to the lack of professionalism of the support members.
However, I must admit that they did get us excited and started on the property investment path. Since then we have read book after book on property investing and have grown our knowledge quite a lot since then. My wife and I are always willing to listen and learn, and then take on board what we believe is good advice. Research is good.
I love the information that we can read on this forum as well.
Now, I am not trying to say whether the Investors Club is good or bad. But here is my experience. I have bought a property through the Investors Club. I did a LOT of research, read a lot of books (including Jans), did a lot of surfing of Internet sites before even thinking of an IP purchase. I found dirt and good things regarding the Club. Before I bought my IP I rang local agents who also had the same properties for sale. I got reports from "Home Price Guide" and "Property Value". Local Agents were selling the same properties for around $13,000 more. The rent is coming in, it is cash flow positive. I really don't care how much the Investors Club are making out of a deal. I have no affiliation with them other than buying a property through them, and I feel I got a good deal, and that is all I care about! That's my two cents worth!
I agree with the last post. I spend the majority of my time overseas and used the Investors Club to purchase my first property. I had no problems dealing with them, everything to purchase this property was handled by the IC (loan approvals, property inspections, dealing with solicitors etc), all this was done via emails and faxes. Another property in the same complex was on sale for about $10000 more than I paid for mine. I have never had a vacancy as the IC had researched this property for me. I recently purchased another property on my last visit to Australia and the whole process did not go as smoothly as with the IC.
There have been many posts on the IC on the old forum, some good some bad. If you don't do your research you will have problems. I learnt a lot dealing with the IC and would use them again if I see a property that I think is worth buying.
I find it interesting that almost all of the properties sold by the Investors "club" were sold in Queensland. I think they only sold one development in Melbourne
Sure Queensland has done well in the last year, but for a number of years prio to that Sydney and Melbourne have strongly outperformed Queensland.
What criteria do they us eto choose their investment recommendations?
I have actually been told what they are by a senior "member" but I wouldn't publish them here, but they do relate to profit to the club and not the purchaser