Property mentor - Binvested Nathan Birch

skater said:
Obviously you are new here & don't know who Nathan is.

A little research will tell you that Nathan has a huge portfolio & was doing well for himself long before he started Binvested.
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I'm speaking in general terms here skater. I wasn't referring to Nathan specifically.

Nonetheless having a large portfolio "in general" doesn't mean that you are actually making money from it. Those loans have to pay themselves somehow.

There are better and cheaper ways to learn than hiring a "property guru".

I'm new to this forum but I'm not new to investing and dealing with people in the property industry.
 
I have spoken to Nathan a bit after meeting him at a party for his company Blink Property (I didn't know who he was when signing up).

He is a genuine and really nice guy and I echo the sentiments that he is not out to screw anyone over.

He offers a service for people who don't want to do it themselves. It's expensive, but like any purchase, if the numbers stack up then it can be a good deal. I have considered it, but have not gone ahead for various reasons - mostly about me wanting to do it myself. It's not without it's flaws either, but from what I have seen he tries to do the best by his clients.


My impression of Nathan is that his property portfolio has grown way beyond the deals he offers to clients. From the stuff posted to Facebook etc, he is buying entire blocks and doing developments. Deals that suit someone growing their portfolio don't necessarily suit someone with a lot more equity to play with, yet I imagine a lot more challenges with finance etc.

I think he could have retired long ago, but he is passionate about property and has started a number of businesses. It's not what I will be doing when I have enough to retire! But each to their own.
 
superAndrew said:
I'm speaking in general terms here skater. I wasn't referring to Nathan specifically.
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In general, you are correct, however this is a thread about Nathan..

Nonetheless having a large portfolio "in general" doesn't mean that you are actually making money from it. Those loans have to pay themselves somehow.
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Yes, but he does target CF+ property, so, yes, the loans in general DO pay themselves off.

There are better and cheaper ways to learn than hiring a "property guru".

I'm new to this forum but I'm not new to investing and dealing with people in the property industry.
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Again, I agree. I'd never use those services, but there are people that need to use a BA.
 
I was a client of Nathan Birches. He was my mentor and actually did help me. The first property that I bought 'from' him was a ripper and made a huge equity increase in the first month, enough to buy another property. It has continued increased in equity. The other 2 properties were not good purchases in my opinion. His business partner (Dan) bought one of the units in the complex that I bought in but I'm still hoping that it increases in equity (over a year since purchase).

Nathan is too busy now to offer good customer service, as are his other companies specifically Zinger finance. I also use Blink property agents in Western Sydney and they are good compared to other agents I've used in the past.

I would not be recommending Binvested, Zinger finance, Property Investment agents ie. Nathan Birch to anyone.

If however you do use him, his standard fee is $9900 but I never paid more than $7700.

Do some research and buy something yourself, if it's a crappy investment then work out why and try to improve on the next one.
 
I think his "MAP" sessions are worthwhile to help with setting the strategy and to give you an insight into how he went about building his portfolio, 1 or 2 hours at $300 an hour is decent value for what you can get out of it. However, from personal experience I echo's the opinions of others that the BA service is not worth the fees that they are charging.
 
He has stretched himself too thin.

I am a blink property client. Sick of rent being paid late compared to my other agents. Grown too quickly. Looking to move agencies again
 
$10k or even $5k for a BA, or mentor, or guru is not worth the money at all, when you can be here and get it all for free.

The BA is possibly only worth the money if you are a genuine case for no time/too far to travel to find your own.
 
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BayView said:
$10k or even $5k for a BA, or mentor, or guru is not worth the money at all, when you can be here and get it all for free.
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Awesome, the best thing in life are freeeeeeeeeeeeeeeeeee!!!!!

BayView said:
The BA is possibly only worth the money if you are a genuine case for no time/too far to travel to find your own.
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Bingo...this player wins a prize.$9900. Just kidding Jim..

Okay, back to serious mode.
From everyone who experience with BA in the past, what usually the competitive value between one BA to another??

So when BA company #1 charge $10k, BA company #2 charge $5k, what component usually drive the price?

How do you determine good, better and best BA ??
 
ZachAnSel said:
How do you determine good, better and best BA ??
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In my opinion best BA will make money if you make/save money.

I have helped others before to buy property.

I don't charge the buyer directly but earn my commission by negotiating a lower price.

The fee can be fixed 5-10k depending on the price (sometimes it will be less than 5k if I can't negotiate lower) or can be a % of the discount I can negotiate.

So the higher the discount I can get the better the buyer and I are off.

I'm surprised that this is not standard fee structure among other buyer agents.

That's how RE agents charge. The higher the price they can sell the better they and the seller are off. Both their interests are aligned.

Buyer's don't get the equivalent when using BAs.
 
superAndrew said:
In my opinion best BA will make money if you make/save money.

I have helped others before to buy property.

I don't charge the buyer directly but earn my commission by negotiating a lower price.
The fee can be fixed 5-10k depending on the price (sometimes it will be less than 5k if I can't negotiate lower) or can be a % of the discount I can negotiate.

So the higher the discount I can get the better the buyer and I are off.

I'm surprised that this is not standard fee structure among other buyer agents.

That's how RE agents charge. The higher the price they can sell the better they and the seller are off. Both their interests are aligned.

Buyer's don't get the equivalent when using BAs.
Click to expand...

http://somersoft.com/forums/showpost.php?p=1173267&postcount=12

http://somersoft.com/forums/showpost.php?p=1173290&postcount=23

http://somersoft.com/forums/showpost.php?p=1173311&postcount=25

http://somersoft.com/forums/showpost.php?p=1173588&postcount=44


Took less than 100 posts for the full truth to come out.


pinkboy
 
Haha detective KFC is on the case!

How would it work if the buyer is not charged but he gets a commission? Would have to be paid by the seller then.
 
I list positive cash flow properties for free on my website and I help buyers buy properties and earn my commission by getting them the lowest price possible.

Feel free to add to it.

Andrew
 
superAndrew said:
I list positive cash flow properties for free on my website and I help buyers buy properties and earn my commission by getting them the lowest price possible.

Feel free to add to it.

Andrew
Click to expand...

So who pays you then? Where does the commission come from and how is it calculated?
 
sanj said:
So who pays you then? Where does the commission come from and how is it calculated?
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From what I gather, he has 2 sides to his services...the 'free' listings on his webpage and the buyers agency side where he charges commission.

On that basis, everything he has said is still true if he is only talking about the 'free' side of his business.
 
sanj said:
So who pays you then? Where does the commission come from and how is it calculated?
Click to expand...

I explained this above:

"I don't charge the buyer directly but earn my commission by negotiating a lower price. "

The buyer does pay me but from the discount that I can get by negotiating a lower price. If I save him/her $40,000, I can a % of that or a fixed amount (5-10k depending on property price). If I only save them $4,000 then I will only get paid $4,000.

The goal is to charge the buyer the least amount possible but earn fee by negotiating the best price.

Profit is made when you buy. You're chances of making profit once a BA stacks up their fees on top of the purchase price are lower.
 

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