Someone mentioned earlier in the thread that there is a definite conflict of interest with Binvested's 'service'. I guess if he is able to find a property that ticks all the boxes (BMV, good cash flow, solid fundamentals), why would he not purchase the property for himself?
From personal experience I think Binvested caters mainly those who very little to no basic knowledge of property investing fundamentals, who don't really have a plan and therefore do not know exactly what type of properties will get them to their goal or how to get started in property investing. That way when he recommends properties to those clients, the clients themselves will have very little capacity to distinguish a decent property from a bad one. Indeed if that's the case then he will only offer properties to his clients that he himself would NOT purchase so that he can have his cake and eat it too.
Generally what he does is sources 'bulk deals' worth of units or strata titled properties. From memory I think he has about 20 buyers' agent clients (at 10k a pop) going at once, which means he needs to be offering at least 20+ properties at a time for clients. For 1-2 buyers agents (him and Daniel) to be searching individually for an individual brief for 20 clients simultaneously would be nigh on impossible I'm assuming. If that's the case he has to go down the route of offering large numbers of units in big complexes in order to be able to source sufficient numbers of properties to meet client demands. However, from reading it forums and 'common sense', 90% of the time, single units in large complexes (50+ units) with high strata are generally not good for investment, although in a rising market may still end up making some equity.
By extension then, the service itself is not the same as a traditional buyers' agent where I'd imagine the agent would sit down with you to discuss your needs, plans and goals and how a particular property, go and hunt for a property for your specific needs. Even though he states otherwise, Binvested finds the properties first and then effectively attempts to 'sell' the propertiese to the buyers agent clients by trying to find reasons for why they would be good purchases for that particular client. If you engage his service, I highly doubt you would be able to have a sit down conversation with him, it's mostly communication through phone calls and also template emails written by his admin staff (with one to two sentences interspersed which are actually written by him), sent around to the clients en masse. Not to mention that none of the Binvested staff will actually inspect the properties for you, they are all bought sight unseen and with the safety net being the B&P paid by the client.
So the bigger picture is, extremely good deals he will purchase for himself and the other people in his agency, and the not so good deals are the ones which are passed on to the clients, that way he gets to make money from all types of properties on the market, whether through equity or BA fees. In conclusion, Nathan is an extremely astute businessman (particularly with his other companies MyTradesPeople, ZingerFinance etc) taking out a cut at each step of the way.
