Opinions on Chinchilla QLD
- Thread starter Colin Rice
- Start date
Rental guarantees don't count for much when rents and capital values are going south. Whatever money you save/make with a rental guarantee in place you lose it or more in the drop in capital value. If the guarantee lasts for 5 or 10 years this is irrelevant if the capital values are dropping.
Thumbs up
Thumbs up to what FMS tried to do here. Many other brokers would've just got the commission and run. Energy is lucky to have him in his team.
Apparently Energy got a bit too emotional about the deal and ignored the signs of spruikers up-selling. The best of luck to him with his deal.
Ok. Getting his girlfriend creating an account to endorse him was lame
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Thumbs up to what FMS tried to do here. Many other brokers would've just got the commission and run. Energy is lucky to have him in his team.
Apparently Energy got a bit too emotional about the deal and ignored the signs of spruikers up-selling. The best of luck to him with his deal.
Ok. Getting his girlfriend creating an account to endorse him was lame
.rent guarantees are worthless... Just ask my father in law currently receiving about half of the 7% "guaranteed" rental return on his Port Melbourne storage units, which he no doubt overpaid for because of the yield.
What are you going to do.. sue a liquidated company? bankrupt someone? go to a Current Affair? you can go through all that cost for still potentially no return..
In reality you just have to suck it up and take the reduced yield and flow on reduction in Capital value.
What are you going to do.. sue a liquidated company? bankrupt someone? go to a Current Affair? you can go through all that cost for still potentially no return..
In reality you just have to suck it up and take the reduced yield and flow on reduction in Capital value.
http://www.thepunch.com.au/images/uploads/James-dinnison-bogan.jpg Is this you? You sound like a cashed up bogan.
Thumbs up to what FMS tried to do here. Many other brokers would've just got the commission and run. Energy is lucky to have him in his team.
Apparently Energy got a bit too emotional about the deal and ignored the signs of spruikers up-selling. The best of luck to him with his deal.
Ok. Getting his girlfriend creating an account to endorse him was lame
Thanks newbie for the Kudos.
Clients before commission 100% of the time.
Makes for a "good sleep at night" factor.
No. Energy is a legitimate client.
I am definitley not in a situation to have to resort to such practices both financially and morally.
I think we should all perhaps move on and leave this to rest as what started out as noble intentions has become farsical.
Hi Colin
I feel sorry for you mate
That property he (Energy) was on about is the other side of the Highway not town side and you buy from the builder, who then rents it back from you on a 5 year lease at $592 a week indexed each year at CPI.
Management fee charged at 8.5%
The builder then sub lease's it as stated in the contract after he has first put in a furniture package and rents it out as a fully furnished unit to individuals.
At the end of the 5 year lease it is then handed back to you as it is.
Only 1 left with a double garage the others just have room for 1 car for a minimum of 3 workers
He (Energy) wants his head testing is all I can say
Jean
I feel sorry for you mate
That property he (Energy) was on about is the other side of the Highway not town side and you buy from the builder, who then rents it back from you on a 5 year lease at $592 a week indexed each year at CPI.
Management fee charged at 8.5%
The builder then sub lease's it as stated in the contract after he has first put in a furniture package and rents it out as a fully furnished unit to individuals.
At the end of the 5 year lease it is then handed back to you as it is.
Only 1 left with a double garage the others just have room for 1 car for a minimum of 3 workers
He (Energy) wants his head testing is all I can say
Jean
Sorry this still doesn't sit well with me, that someone's broker would ask about there investment strategy?? If it was my broker I would tell him it's none of there business! After all a finance broker is extractly that! Not a financial advisor! If my broker was to ask about my financial strategies on a public forum I would tell them where to go.. End of story!
Hear what you're saying Jenko, something is a bit fishy. We do have lots of people posting on topics they're not qualified to on here anyway.
Sure the mods could check IP addresses from all 3 accounts if they chose to.
I think it's best this thread is just left to die, sorry you guys had to spend so much time and effort for someone so ungrateful.
Sure the mods could check IP addresses from all 3 accounts if they chose to.
I think it's best this thread is just left to die, sorry you guys had to spend so much time and effort for someone so ungrateful.
I think you are reading to much into it Jenko. My original post was never about Energy's "financial strategies" but about an area that I had no knowledge of and wanted a second opinion out of a genuine concern and that's as far as my intentions went.
To question someone on a public forum with such intent, on their motives doesn't sit right with me either.
I agree with the post above and should just let it die. More than happy for you to call me and discuss further (if that will help) rather than making conclusions based on a sincere question asked with pure intentions on a public forum that I happen to have great respect for and would never intentionally misuse, as you are suggesting.
Cheers.
When you have refinanced loans for WA clients who purchased property in QLD that they paid 400k inc. costs and vals come back at 320k one cant help but be concerned if they are overpaying.
Also had one client that came close to financial ruin both aged in thier late fifties after purchasing a property in QLD at an inflated price. It was cross collaterlised with their PPOR and the difference was hidden in the combined equity.
Could illistrate further with more examples but you catch my drift.
So to ask for an opinion on SS is a fair call. In retrospect I could have phrased it slightly differently.
Their are genuine people out there that sincerley put their clients needs above a commision payment. Its called integrity and from my experience is the best way to build a business not to mention its just plain right!
Also had one client that came close to financial ruin both aged in thier late fifties after purchasing a property in QLD at an inflated price. It was cross collaterlised with their PPOR and the difference was hidden in the combined equity.
Could illistrate further with more examples but you catch my drift.
So to ask for an opinion on SS is a fair call. In retrospect I could have phrased it slightly differently.
Their are genuine people out there that sincerley put their clients needs above a commision payment. Its called integrity and from my experience is the best way to build a business not to mention its just plain right!
We used to say in a company I worked for years ago that:
Worse than an idiot is a proactive idiot.
I still see what FMS has done as being him being the good Samaritan. I still think it's noble and has nothing to do with strategy. Energy was about to ovrerpay for a property because of a sales pitch.
If you see me about to do that, please rescue me!!!!
Worse than an idiot is a proactive idiot.
I still see what FMS has done as being him being the good Samaritan. I still think it's noble and has nothing to do with strategy. Energy was about to ovrerpay for a property because of a sales pitch.
If you see me about to do that, please rescue me!!!!
I only joined this forum to say it's a bit of a misleading statement re the two service stations moved in recently ... true two have been refurbished, re-branded and relocated by a few metres, but they're not "new" servo's to town by any means.
Caught in Chinchilla
Dear friends,
I have just joined this forum to share my experience in Chinchilla. I was very excited last year after reading all the developers selling stories and decided to build a 4 br home for $395k.
(1) First of all the builder built the house smaller than they showed me at the beginning. Their flyer said a home of 221m2, but when the sent the contract out, the area changed to 180m2 in small letters in the plans without even notifying myself. I signed the contract with good faith and they built the house 180m2. I realised after the house was built and when tried to rent out the agent said the house is too small for $550/wk. Then I checked and found the error. I contacted the builder and they said it was a human error. I would have never signed the contract if I knew the house is that small. Now I am stuck with it, however the agent managed to find someone paying $550/wk
Dear friends,
I have just joined this forum to share my experience in Chinchilla. I was very excited last year after reading all the developers selling stories and decided to build a 4 br home for $395k.
(1) First of all the builder built the house smaller than they showed me at the beginning. Their flyer said a home of 221m2, but when the sent the contract out, the area changed to 180m2 in small letters in the plans without even notifying myself. I signed the contract with good faith and they built the house 180m2. I realised after the house was built and when tried to rent out the agent said the house is too small for $550/wk. Then I checked and found the error. I contacted the builder and they said it was a human error. I would have never signed the contract if I knew the house is that small. Now I am stuck with it, however the agent managed to find someone paying $550/wk
Caught in Chinchilla
(2) then after 6 months, the tenant wanted to move out saying his company lost the contracts so he would have no job.Then I looked at all the reports again and found chinchilla growth has slowed down considerably...it used to 45 vacant properties, but now there is 188. the tenant then wanted to negotiate the price down and I have bring it down to $480 to keep the tenant. the agent told me the area slowed down a lot and plenty of properties are vacant.
So friends donot believe the developers/sellers without proper checking otherwise you will be caught like me. Can someone advice what can I do with the builder ripping me off with smaller house? can I go to court?
(2) then after 6 months, the tenant wanted to move out saying his company lost the contracts so he would have no job.Then I looked at all the reports again and found chinchilla growth has slowed down considerably...it used to 45 vacant properties, but now there is 188. the tenant then wanted to negotiate the price down and I have bring it down to $480 to keep the tenant. the agent told me the area slowed down a lot and plenty of properties are vacant.
So friends donot believe the developers/sellers without proper checking otherwise you will be caught like me. Can someone advice what can I do with the builder ripping me off with smaller house? can I go to court?