Positive Real Estate - Mentoring Program

[BuildingBlocks]

I have been on their free email list for a year or two now, but never bought from them.

I find it another good way to keep an eye on what is happening around the place including some new areas that people are focussing on ...at no cost

 

[nkirlew]

Positive Real Estate Just came to Darwin

PRE did their first show in Darwin as far as I know. A rattling discussion about property cycles and how PRE move from city to city at just the right time to get the bottom of the market. Not much time for questions from the audience.

I was waiting to hear how we can avoid capital gains tax as there was certainly a Houdini like ability to see past that hurdle.

We once (2008?) brought a property through PRE but it did not settle due to the vendor waiting for all the units to sell, the day we cancelled in disgust was the day just before they would have settled apparently. Anyway we bumbled on and bought elsewhere using our own noses.

I thought the presentation in Darwin was factual and only a couple of places did I think if questions where on the cards I would test that point. At the end of the night maybe 40% of the audience queued up for the personal interview, an enviable hit rate, certainly those in the audience who were willing to raise hands at key question points identified themselves as ready to be shown the light on investment principles.

We did get told that joining the mentoring program was by invitation only and my wife and I did not want to get turned down after all. This morning I did get a complimentary pass to the next workshop in my email.

 

[Newbie68]

thanks for asking the question as I too have been checking out PRE but feel somewhat sceptical about a lifetime guarantee and also not sure that one coach can service all of NSW for a lifetime!
However, their buyers agency seems good and might be worth a try.

I think the advice is very wise - try something out yourself, wet your teeth then get a coach to take things further. However I am finding it very hard to make a start as I am looking and looking and looking on the internet and just get totally confused by so many properties, trying to look at the multitude of factors, and then I am paralysed by indecision. Can anyone tell me how to take the plunge and buy the first one - I think it is fear holding me back.
I am looking for something in mid 200s, not sure where. Obviously want what we all do, good yield and growth opportunity.

 

[Propertunity]

thanks for asking the question as I too have been checking out PRE but feel somewhat sceptical about a lifetime guarantee and also not sure that one coach can service all of NSW for a lifetime!

I think you are right to be sceptical of any sort of guarantee for any type of goods or service. I've always wondered whose lifetime anyway - mine, theirs, the product ??

However I am finding it very hard to make a start as I am looking and looking and looking on the internet and just get totally confused by so many properties, trying to look at the multitude of factors, and then I am paralysed by indecision. Can anyone tell me how to take the plunge and buy the first one - I think it is fear holding me back.
I am looking for something in mid 200s, not sure where. Obviously want what we all do, good yield and growth opportunity.

You are suffering from analysis paralasis from the looks. You don't have clear criteria - and you probably don't know what the criteria should probably be.

Additionally, because of your budget, a BA's fees would be a much higher % of your availble $'d to spend, than say a person using a BA to buy a $2M property.

If you want to call me during the week, I can offer you some free time on the telephone to point you in a direction and give you some criteria to use. I recently did this exercise with a client who had a similar budget initially, but who then went on to change her strategy and spend more money (her choice).....so I still have all the research & charts etc easily to hand.

 

[Newbie68]

I didn't realise the fees for using a BA would change according to the price, I thought it was a fixed %

Thank you very much for the kind offer to call you. I will certainly do so as any tips would be most welcome.

 

[Jacque]

I didn't realise the fees for using a BA would change according to the price, I thought it was a fixed %

Thank you very much for the kind offer to call you. I will certainly do so as any tips would be most welcome.

HI Newbie

Very generous offer from Alan there- I'm sure he'll be able to help you.

Re: fees. Some BA's charge a sliding scale (fee increases with the price) whilst others charge a fixed fee, not necessarily based on the purchase price.
Best of luck with your impending purchases

 

[beachgurl]

One of my friends was up Newcastle way earlier this week meeting with a developer on his worksite and Sam was there at the same time trying to haggle a special price. He must make good money charging an agent fee, a commission on the purchase price and a cut from the developer.

 

[Newbie68]

I've been thinking about PRE - according to their pitch the $10k includes free access to the buyers agency i.e. no commission.
If this is the case, then the $10k is easily earned back on your first 1 or 2 properties as savings in buyers agent fees.

Is anyone a PRE client who can verify that there are no fees on top of the $10k?

 

[Suraj]

Hi Rob

Dear Rob william, I have read ur article and about ur investment strategies. I have bout six properties buy now but have not created much equity yet. I bought 2 bed appartment in 2004 in Hurstville NSW top of market at 340K( wrong time), took 6-7 yrs to grow up to 500K. in 2008 I bought one 3 bdr house in Melton Vic, which done well ( Lucky) now may be 270-280K, same time bought 2 semis in Davoren park SA ( I think its wrong decision) as it was also at the top of market. I think I purchase the Sydney and Davoren park properties in wrong time, thats why it did not grow for long and not making much equity. Based upon this view I recently purchased two, low set units each with two bed rooms one at 165K and another 175K both giving 250 Pw rent, in Logan Central Queensland. My queston to you is whats ur strategies so that ur properties grown so quick to gain equity. I would appreciate your view and advice. Recently my strategy is high yield property still not far from city.
with regards

 

[Suraj]

Hi Rob

Hi Rob

--------------------------------------------------------------------------------

Dear Rob william, I have read ur article and about ur investment strategies. I have bout six properties buy now but have not created much equity yet. I bought 2 bed appartment in 2004 in Hurstville NSW top of market at 340K( wrong time), took 6-7 yrs to grow up to 500K. in 2008 I bought one 3 bdr house in Melton Vic, which done well ( Lucky) now may be 270-280K, same time bought 2 semis in Davoren park SA ( I think its wrong decision) as it was also at the top of market. I think I purchase the Sydney and Davoren park properties in wrong time, thats why it did not grow for long and not making much equity. Based upon this view I recently purchased two, low set units each with two bed rooms one at 165K and another 175K both giving 250 Pw rent, in Logan Central Queensland. My queston to you is whats ur strategies so that ur properties grown so quick to gain equity. I would appreciate your view and advice. Recently my strategy is high yield property still not far from city.
with regards

 

[takeitnow]

Wouldn't we all love a mentor who will say do this, do that and hey.. you are a rich person!!

Unfortunately it isn't like that and we are just dipping our toes into the investment market but covering as many bases as possible. Actually we were given a link to a program that gives you a lot of background information on Australian properties. It is pricey I suppose but if you only use it for a couple of months it may be worthwhile.

The name of it is realestateinvestar and it is an Australian site - I would be interested in anyone's thoughts especially if they have used it? BTW I have absolutely nothing to do with this site, but I love the way it allows you to look a bit 'in depth' at the properties.

Sorry if I have gone a bit off-track!!

 

[SpongeBob]

I've been thinking about PRE - according to their pitch the $10k includes free access to the buyers agency i.e. no commission.
If this is the case, then the $10k is easily earned back on your first 1 or 2 properties as savings in buyers agent fees.

Is anyone a PRE client who can verify that there are no fees on top of the $10k?

Newbie,
I joined PRE a few months back now, and so far I can't complain. We purchased a near new 2/2 Apartment in Blacktown for 298K that brings in $380p/w so it's costing us very little to hold onto it. It was our first IP so being guided through the process was beneficial from our point of view. We have spoken to JamesGG - who posted earlier in this thread, and he's offered some fantastic advice so far...

We have a monthly catch up with the 'coach' in Victoria, monthly mentoring nights that cover the differing strategies etc.. and tonight I'm off to a 'coffee club' get together with other like minded investors, where two people will be talking about their own experiences. I find these events very worthwhile.

There is no hard sell, although I do find Jason And Sam a little over the top sometimes at some of the seminars, but hey - they are sales people in the end!! and to answer your question their is no BA fee for most of their purchases (there are for some but they make that obvious to you with their detailed property descriptions). Although you'd be naive to think they don't take some cut from the deal
We get presented with a bunch of new stock each month via email, and it's entirely up to you to enter into any deal through PRE. They WILL offer you advice on anything you have in mind, so they are willing to help you. You still need to do the DD at the end of the day. So it's all part of the learning curve - but investing in education when a lot of coin is on the line is fine with me.

I can understand the majority of the responses here slaying PRE and other 'mentoring' groups, but I can say straight up that we went to Destiny Group - Margaret Lomas' equivalent, and it was 5K+ for 12 months only! I like reading her books, speaking of which I asked if I could get one thrown in - boy did that go down like a lead balloon

I've looked at CCorp also for education and yes, it does look good for newbie developers - and I get a bunch of emails from them, Yardney, Ryder, Rocket and co to keep me occupied and informed also.

Horses for courses they say.

 

[Ausprop]

I can understand the majority of the responses here slaying PRE and other 'mentoring' groups, but I can say straight up that we went to Destiny Group - Margaret Lomas' equivalent, and it was 5K+ for 12 months only! I like reading her books, speaking of which I asked if I could get one thrown in - boy did that go down like a lead balloon

they wouldn't throw in a lousy book with a $5k fee? would have told them to get over themselves

 

[wobbycarly]

*snip*

There is no hard sell, although I do find Jason And Sam a little over the top sometimes at some of the seminars, but hey - they are sales people in the end!! and to answer your question their is no BA fee for most of their purchases (there are for some but they make that obvious to you with their detailed property descriptions). Although you'd be naive to think they don't take some cut from the deal *snip*

Why wouldn't they disclose this? I would want to see where they are making their money.

 

[SpongeBob]

they wouldn't throw in a lousy book with a $5k fee? would have told them to get over themselves

It's fair to say they did not get a look in! But, who knows - they might offer some good advice?? I just saw better value with PRE. Good night tonight talking investing over a couple of frothies

 

[Melbournian]

Dear Rob william, I have read ur article and about ur investment strategies. I have bout six properties buy now but have not created much equity yet. I bought 2 bed appartment in 2004 in Hurstville NSW top of market at 340K( wrong time), took 6-7 yrs to grow up to 500K. in 2008 I bought one 3 bdr house in Melton Vic, which done well ( Lucky) now may be 270-280K, same time bought 2 semis in Davoren park SA ( I think its wrong decision) as it was also at the top of market. I think I purchase the Sydney and Davoren park properties in wrong time, thats why it did not grow for long and not making much equity. Based upon this view I recently purchased two, low set units each with two bed rooms one at 165K and another 175K both giving 250 Pw rent, in Logan Central Queensland. My queston to you is whats ur strategies so that ur properties grown so quick to gain equity. I would appreciate your view and advice. Recently my strategy is high yield property still not far from city.
with regards

Renovate, revalue pull equity, charge higher yields or sell.

 

[Felixter]

I joined as a member a few years back and have not looked back since. I believe that joining them for a small investment is worth the huge returns. It amazes me how many pp i know are "property experts" however have maybe invested once or twice before and love to give advice on how to invest in property. Also all my friends just give away hundreds of thousands of dollars - just buying their "dream home" and have debt for 30 years without really even researching what they are doing or even looking around at financial options. They just jump right in as that's how pp are groomed in Aus. I really believe - like becoming a doctor - or becoming a professional in any field - education is key - hence the philosophy behind becoming educated in property before investing. Positive Real Estate - is honestly the best and wisest decision i ever made. I truly believe that without being educated in property investing by a team like Positive Real Estate......u r just walking in blind-folded hoping to pin the tail on the donkey!!

Wow Dave, where do I sign up?

 

[Felixter]

Hi Rob

--------------------------------------------------------------------------------

Dear Rob william, I have read ur article and about ur investment strategies. I have bout six properties buy now but have not created much equity yet. I bought 2 bed appartment in 2004 in Hurstville NSW top of market at 340K( wrong time), took 6-7 yrs to grow up to 500K. in 2008 I bought one 3 bdr house in Melton Vic, which done well ( Lucky) now may be 270-280K, same time bought 2 semis in Davoren park SA ( I think its wrong decision) as it was also at the top of market. I think I purchase the Sydney and Davoren park properties in wrong time, thats why it did not grow for long and not making much equity. Based upon this view I recently purchased two, low set units each with two bed rooms one at 165K and another 175K both giving 250 Pw rent, in Logan Central Queensland. My queston to you is whats ur strategies so that ur properties grown so quick to gain equity. I would appreciate your view and advice. Recently my strategy is high yield property still not far from city.
with regards

I can't speak for Rob but my take is:

1. You said it yourself, you timed it wrong. You seem to be jumping on the hype too late. I'm not sure buying in Brisbane right now is a good idea either. Not top of the market but I think it will be flat for a few years yet. Adelaide i think has unfinished business but I question your location.

2. Suburb and location choice. Hurstville? Not a great choice in my books, but also depends on street, size of block etc. Davoren Park? ***** dump. Will get a spike if it's a "hot spot" but long term won't get heaps of growth. Logan? Also a sh*tdump. I don't think that will be moving any time soon.

I get your strategy totally:

Buy in capital cities - check
Find reasonably high yield so you can services greater quantities of IPs - check

Your timing is out but experience should be a great teacher for you. I just think you're slightly out with you locations (read: balance between yield and CG). I think in Adelaide you should have gone an old 2 bed unit in a small block close to the city. Cost you a little bit more to hold maybe but the better CG prospects make up for it. Instead of Logan I would have gone for something like this in Perth:

http://www.realestate.com.au/property-unit-wa-osborne+park-107163730

The other thing you should be looking at is buying places you can add value so you can increase your yield and get some quick CG. You have a good base to work with but I think it's really really important that you pick more winners. You could try a buyer's agent.

 

[redwing]

The name of it is realestateinvestar and it is an Australian site - I would be interested in anyone's thoughts especially if they have used it? BTW I have absolutely nothing to do with this site, but I love the way it allows you to look a bit 'in depth' at the properties.

I thought it was run by the kiwi's?

David Hows of the old Entrepreneurs Success Centre

realestateinvestar apparently offers three membership options, all of which require a joining fee of AUD$1,299 on top of monthly or yearly payments.

I've used it briefly one night with some other property investors who were signed up and with some continued use it looks to be a valuable tool in your property investing toolbox

Hows says realestateinvestar “finally” turned its first profit in the 2009/10 financial year and that annual revenue is headed for over AUD$10 million within two years.

“Our unique search engine, Investar Search, enables investors to search more than 920,000 live property for sale listings across Australia and New Zealand, analyse the financials, conduct online valuations and monitor and track their portfolio performance over time,” Hows explains. “To date our members have used Property Analyser and Portfolio Tracker to analyse and track more than $1 billion of investments.”

“What makes us different is that we don’t accept direct listings, we don’t sell advertising or property or finance,” Hows adds. “We receive no income from propery developers or real estate agents. We receive 100 percent of revenue from consumers (propery investors) and focus solely on serving their needs.”

Hows says that realestateinvestar sources its real estate listings using techniques similar to Google, and draws other data from 17 different sources from across Australasia.

“We have IT teams and servers in six countries who work tirelessly round the clock to update data hourly, daily and weekly,” says Hows. “Running a search engine with almost 1 million property listings is not for the faint-hearted.”

 

[SpongeBob]

I thought it was run by the kiwi's?
realestateinvestar apparently offers three membership options, all of which require a joining fee of AUD$1,299 on top of monthly or yearly payments.

I sat in on a webinar by investar the other night and they were offering the s/ware without the usual joining fee, and a discount on the monthly rate. I think the 'bells and whistles' option was listed at $160p/m for the first 20 new subscribers. I've sat in on a couple of these now and each time they have offered 'sweetener' deals like this. The software looks good, and tax deductible. I have a 1 year subscription with PRE, but don't get the 'valuer' options... which would be nice