Is Right Property Group a right property group to deal with?

Discussion in 'The Buying/Selling Process' started by htopg, 13th Apr, 2012.

  1. htopg

    htopg Member

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    While doing research on property investment, I found the following
    http://www.rightpropertygroup.com.au/homepage

    They claim that "we locate and negotiate investment properties at below market prices".

    Has anyone dealt with them before?
    If so, please share your experience.

    If you have dealt with other buyer's agents, what have you been found worthwhile with buyers' agents?

    Thanks
     
  2. htopg

    htopg Member

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    By the way, a mortgage broker told me about this group.
    I was told that you pay them $7000 for them to find a property below market value.
    You get instant equity, and they get $7000, nice?
     
  3. Peter_Tersteeg

    Peter_Tersteeg Finance broker/strategist

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    Ask the broker how much commission they get from the developer selling the property to you. Also do your own research first to verify that you really do buy below market value.

    Then ask yourself if the broker is really working in your interests and consider finding another broker.
     
  4. Rob Williams

    Rob Williams Festina Lente

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    Nice for someone, that's for sure. But I doubt that "someone" is you.
    Maybe I'm just getting cynical in my old age.
     
  5. travelbug

    travelbug Member

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    Yes Rob getting cynical. Lots of people use buyers agents. Nothing wrong with that.
    Bear they are not a developer and no commissions paid. There are a few brokers that have clients that use them.

    I bought property through their buyers agency when NThan was their buyers agent.
    They don't build or sell property. What they do is find you a property. If they can find you a property that is $20k under value would you pay $7K to them? Up to you.
    The last one they found me was in Mt Druitt. 3 bed house $165k. After a $25k Reno it's worth $240kand rents for $320 . Worth the $7k to me.

    Htopg why not go to one of their fortnightly meetings at Rydges at Rosehill. For $10 you can meet them, get some info and see what you think. They will sit down with you and talk about your direction. No pressure.
     
  6. Rob Williams

    Rob Williams Festina Lente

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    I have no issue with buyers agents at all.
    However, I know some developers who do very nicely by selling their developments through a network of buyers agents and brokers, all of whom appear to be serving the best interests of the client, but that's not always the case and the research into the "best" property for the client is far from independent.
     
  7. htopg

    htopg Member

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    That success story is quite encouraging.

    I am thinking of that.
    How often do you go to their meeting?
     
  8. Sailesh Channan

    Sailesh Channan Member

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    It is illegal for a buyers agent to get commissions from both parties.
     
  9. redwing

    redwing Progress Not Perfection

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    There's a thread here "Has anyone heard of Victor Kumar" which may assist?

    They are still active in an area where some others have gone under, I also saw a write up in one of the magazines where they were using Right Group as they undertook a renovation which was a good read (from memory part 2 was recently out).
     
  10. Andrew_A

    Andrew_A Buyers Agent

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    Agreed Rob except that anybody calling themselves a 'Buyers Agent' in that scenario clearly should not be!
     
  11. redwing

    redwing Progress Not Perfection

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    With regards to Right Property Group

    Apparently Steve Waters, Principal/Director of Right Property Group has been appointed to the board of directors with PIPA (Property Investment Professionals of Australia) www.pipa.asn.au
     
  12. virgo

    virgo Always-willing-to-learn

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    Right Group

    Hiya

    Yes, it was good when Nathan Birch was there as one of their key buyer's agent.......not sure whether their deals are as good now....

    Nathan has since left and started his own agency.....why not go straight to him?

    I think he can be contacted at binvested.com.au

    All the best
     
  13. BV

    BV Think outside the square

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    From my experience they offered me entry level property which I could have found myself.
    I went to many of their meetings where they'd showed us their latest purchases, I paid the deposit but I never bought anything through them.

    Call me cynical but I often sensed a conflict of interest because they were buying properties themselves so if they found a good deal why would they offer it to someone else?
     
  14. vaughan

    vaughan Member

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    If the person is getting a commission from the vendor then they are NOT a buyers agent.

    It is illegal to receive a commission from both the seller and the buyer.
     
  15. lpool05

    lpool05 Member

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    Totally agree with virgo...I moved onto Nathan when he started his own BA. Personally happy with Nathan and his team. They have surely helped me built my portfolio.



     
  16. vaughan

    vaughan Member

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    Because acting as a middle-man between buyer and seller is a very low-risk way to make money, even if the nature of the transaction itself is risky. Also the income comes in immediately the transaction is completed, not after the investment matures.

    CommSec (as an example) makes money by charging for each share transaction, even if the transaction lost money for the seller.

    Some of the buyers agents on the Forums here have probably passed on some absolute gems of deals to their clients, who then went on to make good money after 5 years (or whatever). But nobody can afford to buy everything they see, nor can they wait the time for the investments to mature. You need the cash-flow...
     
    Andrew_A likes this.
  17. BV

    BV Think outside the square

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    I think you'll find that these guys can buy most of the properties they see. The only properties they'll pass on are those that don't interest them
     
  18. MikeF

    MikeF Finance Broker

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    Hi

    Not sure about the instant equity bit as lenders will usually value at the lower of the actual purchase price or the valuation.
     
  19. travelbug

    travelbug Member

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    That is true in the first few months but after that you can revalue.

    I used to go every fortnight but too busy now. Go every few months to catch up with people I've met there.
    While the example k gave was great all those they offer are not wonderful. I rejected quite a few. A friend bought one through them that she regrets. You still need go do your own DD.

    Once you get to a certain level the properties you purchase changes. Victor and Steve are buying multiple blocks. A house $20K under market is great for a beginner but not so much for them. They have bigger fish to fry.
     
  20. Shantaram

    Shantaram Member

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    right property group

    Hi I have bought property from this group six months ago. to me their service is below average & no value for money. I will recommend any one this group
     
    Last edited by a moderator: 16th Apr, 2013