Money Expo

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From: Glenn M


Just wondering if anyone went to the Melbourne Money Expo on the weekend and what their thoughts were of it....I must admit, I was rather disappointed.

Just to give you the scene, there were Property Developers trying to 'flog off' new apartments, a couple of book stalls, a few trying to push Managed Funds etc. I think that after 15 minutes I had basically seen all of the stalls...there weren't that many. I attempted to walk past 5-6 Henry Kaye representatives only once. They were ready to 'pounce' (thought I was back in Bali!!!)

Sound kind of negative don't I.....I suppose I just expected more.

Did anyone else have a look???

Glenn.
 
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Reply: 1
From: Peter Martin


Glenn,

I went to the Money Expo and also thought it was a bit disappointing, mainly because it was so small.

(I also expected entry to be free but maybe I'm just being a bit tight!)

The one thing I'll say for it was that the snake oil factor seemed pretty low - most displays looked fairly legit.

I'm new to property investing and the one stand that caught my eye was the Investor Club. Anybody had any experience with them?

Peter Martin
 
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Reply: 1.1
From: Paul Zagoridis


They seem to catch most people's eye at some point.

I suggest you go through the forum archives and search for Investors Club.

Many people have bought through them in the past. I think they are no longer as independant and neutral as they once were.

Something has to support their infrastructure.

Having said that I think you can do worse.

Dreamspinner
 
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Reply: 1.1.1
From: Apprentice Millionaire


>Many people have bought through them in the past. I think they are no longer as
>independent and neutral as they once were.
[snip snip]
>Having said that I think you can do worse.

The same comments apply to National Property Investors, an organisation which is an offspring from the Investor Club (dissatisfied active members).

Cheers
Apprentice Millionaire
(aka Jacques)
 
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Reply: 1.1.1.1
From: Grant P


Does this mean that we should steer clear of the Investors Club and National Property Investors (NPI)? I have signed up with the NPI to receive their newsletter and was contacted last night (29 May) regarding meetings etc. I didn't mind the call and it was an informal conversation with no hard selling bottom line. The details seemed to be similar to what Dave is trying to get started. Just a group of people getting together to discuss property, finance, wraps etc.

Grant
 
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Reply: 1.1.1.1.1
From: PT Bear


I've found the NPI to have some good ideas on building equity and so on, but they also have some flaws. All of the properties they've sent profiles of were also in Queensland, which sets of alarm bells (I'm in Melbourne).

In a nutshell, I think it's worth going to a seminar (especially if you're just beginning in property investment), but do a lot of research before you buy anything through them. Their strategy involves a lot of hand holding and very heavily negative gearing.

I've found that with a bit of work you can do better.

PeterT
 
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Reply: 1.1.1.1.2
From: Apprentice Millionaire


Grant,

I am on the Investor's Club mailing list as a result of attending an expo. I attended one of their meetings, and received one phone call as a follow-up. I told the gentleman I was not interested at that stage (at least 3 years ago), and haven't heard from him since. Still get the newsletter.

I also signed up with NPI to get their newsletter and attended one of their meetings. No surprise, very much the same as Investor's Club. On the other hand, when I expressed interest, I was given the hard sell. "Don't buy in your back yard". "We have excellent properties in Brisbane". "Make up your mind quick because they are selling like hot cakes". Pressure. And when I asked what sort of commission he was getting, that was a trade secret. Inflated price to cover commissions? So I said thanks, but no thanks.

Having said this, you may have a different experience. So no, it does not mean that you should stay clear of these organisations.

As I have heard over and over again on this forum: do your own due diligence.

Cheers
Apprentice Millionaire
(aka Jacques)
 
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Reply: 1.1.1.1.3
From: Felicity W.


I bought a property through NPI and found the experience very easy. I also found that even with their commissions, the property still valued up very close to the price we paid for it. I've also noticed in recent newsletters that there are properties available in Melbourne, but they're pricey (obviously!) compared to Brisbane.
I think that if you want to actively grow your property portfolio, there are more active and quicker strategies (reno, wrap etc) but after 2 years I've been very happy with our no brainer property through NPI.
Keep smiling
Felicity :cool:
 
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Reply: 1.1.1.1.3.1
From: Paul Zagoridis


These are the sort of good experiences I've generally heard from people who've used IC and NPI.

Yes there are unhappy customers. Yes they could disclose the commissions better. Yes they could be less blokey/folksy/ "we're just on your side".

But you're paying retail for a service that most people find appropriate. many of them never intend to get more than 1-5 properties anyway and are comfortable negative gearing.

I don't need to convert the world. There are even people who think shares are better than IP ;-)

Regards

Dreamspinner
 
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Reply: 1.1.1.1.3.1.1
From: Guy Wood


Paul,
I had dinner with Kevin Young ,the founder of the investors club last Sunday night. I've not bought thru them. Found him to be a very interesting fellow, really down to earth & definitely not out to "sell" you. I'd recommend anyone to them,just to broaden their education.
 
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Reply: 1.1.1.1.3.1.1.1
From: Rixter ®


Guy,
How & where did you get to have dinner with Kevin Young, founder of the investors club?
Happy Investing,
Rixter :)
 
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Reply: 1.1.1.1.3.1.1.1.1
From: Rasputin .


From what I understnad, they dont inflate the sale price to cover commissions, but rather neogtiate a cheaper price from deveolpers for bulk buying and then use this discount to pay their Commissions etc..

I too am an their mailing list , but have not bougght through them as i would prefer to be postive geared not negative
 
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Reply: 1.1.1.1.4
From: Michael G


Glen,

Knowledge is good.

Their newsletters are free and same goes for the meetings.

Its a good source to learn about the terms.

Just start thinking how to apply them yourself.

Michael
 
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Reply: 1.1.1.1.3.1.1.1.2
From: Michael G


When you get their newletter you'll some of the meets feature Kevin Young.

Michael
 
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Reply: 1.1.1.1.4.1
From: Rixter ®


Rasputin

I have bought through IC and that IP is +ve

Happy Investing,
Rixter :)
 
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Reply: 1.1.1.1.3.1.1.1.3
From: Guy Wood


Hi Rixter,
I looked up their web site "investorsclub.com.au" I think & saw that he was speaking @ one of their monthly meetings here in Newcastle. I rang the club & offered to shout him dinner afterwards, got a reply & had a really good chat (& he paid for his own meal!).
He personally owns about 130 IP's. It's great learning from people with that sort of experience, even if not actual "how to's", you learn a lot about attitudes, goal setting, focus etc.
 
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