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From: Bill T
Hi everyone
I've read with interest all the talk about the Investors Club and Property Investors Groups etc. Think the bottom line is nothing in life is free including the fees of these clubs!
I am however a little confused. Please tell me if I am off track here. If these clubs generally make it easier for you to buy property, and if you don't have the time / desire to do the 'street work' on checking out deals etc aren't these clubs of some use? I have seen some comments stating that the properties are overpriced. If you got an independent valuation wouldn't this help? The part I am struggling with is that even if worse case you end up paying slightly more, over a 10-15-20 year period that extra $5-$10k will become insignificant. (offset against that the effort involved in getting into a PI)
Jan has shown in her books how even if the price paid is a bit over what it should be, the variance in IRR is insignificant. On the other hand we have Kiwosaki telling us that Rich Dad said that the profit in propety investment is in the buying. I'm a staunch believer in Jan's teachings hoewever all of this leaves one little ol' investor a wee bit confused!!
Looking forward to your thoughts!
Bill
Hi everyone
I've read with interest all the talk about the Investors Club and Property Investors Groups etc. Think the bottom line is nothing in life is free including the fees of these clubs!
I am however a little confused. Please tell me if I am off track here. If these clubs generally make it easier for you to buy property, and if you don't have the time / desire to do the 'street work' on checking out deals etc aren't these clubs of some use? I have seen some comments stating that the properties are overpriced. If you got an independent valuation wouldn't this help? The part I am struggling with is that even if worse case you end up paying slightly more, over a 10-15-20 year period that extra $5-$10k will become insignificant. (offset against that the effort involved in getting into a PI)
Jan has shown in her books how even if the price paid is a bit over what it should be, the variance in IRR is insignificant. On the other hand we have Kiwosaki telling us that Rich Dad said that the profit in propety investment is in the buying. I'm a staunch believer in Jan's teachings hoewever all of this leaves one little ol' investor a wee bit confused!!
Looking forward to your thoughts!
Bill
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