Positive Real Estate with Sam Saggers

A friend is considering using the above people to get into her next IP and is wondering whether their $8K mentoring program will be of much use.

I would not recommend but said I would put this query out to the good people here. Is anyone here their member or used their Buyer's Agency arm to secure property ?

Appreciate your responses.

Thanks,
Amelia
 
Investors will always pay for knowledge, either with time / cash / experience, so I guess it's up to them which they can most easily afford to part with. Beyond that, it's a matter of where to spend it.

There were a few threads about this group a little while ago. See here, and my post (#2) links to a few others.

I made comment in one or two of those threads that I have a professional involvement with the group. No longer so, although we share some mutual clients and their Melbourne franchise does lease office space from me. So, take my thoughts with a grain of salt and assume that I'm biased somewhere along the way.

Their buyers agency does come up with good deals from time to time, but the benefit can quickly be eroded as they will still charge ~$10k (from memory) per property found. So, plenty of research is required to make sure that there is good value in the deal. That cost is by no means included in the 'mentoring' fee - which, I think, is now $9k.

Their mortgage broking arm has now broken off to be an independently owned company, and from what I've seen often prefers to use lower-tier lenders. They have a good handle on investment strategy finance but nothing has jumped out at me as being better than any of the brilliant brokers on this forum.

As for the mentoring itself... I deal with people who use PRE's guidance to buy an average of two or three properties a year. They tend to be good at pushing (rightly or wrongly) people into investing; buyers agency optional and commissions not necessarily the main motivation. They like to see clients achieving results - this is, of course, the best way for them to attract more people into the program.

Generally speaking, if the investor is self-motivated and self-educated, the PRE program won't offer a lot beyond the deals sourced in the buyers agency (which gives priority to the mentoring students). If guidance and education are needed, then such things need to be acquired by some means. $9k may be the price there; it isn't exactly small change for most small investors, so careful consideration is certainly a good idea before parting with the hard-earned.
 
Thanks James, that is extremely useful and quite in line with my thoughts.
I will get Anne to peruse all these posts and she can then make an informed decision.

Appreciate your timely inputs.
 
sorry to say but they are crazy why part with 8k for something you can do

yourself most of these so called experts just use realestate.com.au anyway

to find the deals they just look harder imho save the 8k for the purchase surely they have an hour a night to dedicate on the net researching ips:cool:
 
sorry to say but they are crazy why part with 8k for something you can do

yourself most of these so called experts just use realestate.com.au anyway

to find the deals they just look harder imho save the 8k for the purchase surely they have an hour a night to dedicate on the net researching ips:cool:

Are you speaking about Buyers' Agents in general James? I think you will find that they do quite a little more than research re.com.au.

I wouldn't hesitate to use a BA should I wish to buy interstate or in an unfamiliar market. Time saved alone could be money well spent.
 
Agree with Minx.

James...I used a BA to buy interstate (Elizabeth Downs) in 2007and have been pleased with my purchase there. They recommended the area and the property.

Horses for courses, I reckon.
 
i dont know why people consider these insane fees, 8k for every thing you can learn on here,
But now, i know how sam saggers gets to have pos IP's
 
I think if a GOOD buyer's agent really does the work he/she has earned the $8k or 9k fee, when compared with what your average RE who charges an arm & leg for doing very little, it is money worth spent simply by saving you time, and possibly save/make money.
 
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It does depend. Some of these deals come through being in the industry and knowing builders, developers, financiers, etc. I currently looked at a deal yesterday with a client and will probably end up purchasing one or two of the units at a heavily discounted price for myself. If I was to introduce the deal to another client or friend then I could receive a commission if I chose to. Given that the person would purchase the property at a discount to valuation, with the knowledge about the builder, profitability of the project, etc then these fees are par for the course. It is why accountants and lawyers come across some amazing deals because they are there at the inception of everything, can see the numbers and whether the deal stacks up or not. Maybe this group is offering the same sort of proposition for their clients. These sort of things rarely come onto a public forum and so in those cases the "fee" is appropriate if you want to be introduced to something that you ordinarily wouldnt.
 
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