Property mentor - Binvested Nathan Birch

[pinkboy]

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

Lets start with this:

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

nor am I charging any fees or making any type of financial gain from this other than my own investing.


You were such a good Samaritan 2 weeks ago:

http://somersoft.com/forums/showpost.php?p=1173278&postcount=17

Need I go on?

pinkboy

 

[MarkB]

Hi SuperAndrew

I hope you enjoy your time on the forum, be it longer term or (how might one say) "more transient"

In case you missed it, maybe you should read the forum terms of use page:

You subject yourself to possible suspension and/or termination from the Forum if you do any of the following:

Use the Forum for the publication of spam, explicit commercial advertising, or of material intended to solicit a person to buy or sell services, to invest in a specific enterprise, or to make donations. However, there may not always be a clear line between sharing information on investment opportunities and using the forum as a place to simply market products and services. If you think that your post might be interpreted as spam, don't post it. Furthermore, self-promotion should be by way of deeds not ads. Members should make their own assessment of what industry professionals have to offer based on the utility of their contributions to the forum, not the size of their signatures. Blatant soliciting for investment funds or investment partners through the forum will not be tolerated

 

[superAndrew]

Lets start with this:

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

nor am I charging any fees or making any type of financial gain from this other than my own investing.


You were such a good Samaritan 2 weeks ago:

http://somersoft.com/forums/showpost.php?p=1173278&postcount=17

Need I go on?

pinkboy

Yes please go on.

The website is free. There is a paid section which I put up because 3 members from this forum and 2 from another requested to buy a list of exclusive properties that I don't list on the website. The site costs me money to run if some users want to pay for it that is great because then I won't have to use ads.

Do you see me advertising my buying services anywhere on my website? Buyers contact me directly and ask me to help them. I do 2-3 clients per month max.

I did post my fee structure on here to answer the question:
How do you determine good, better and best BA ??

 

[superAndrew]

Hi SuperAndrew

I hope you enjoy your time on the forum, be it longer term or (how might one say) "more transient"

In case you missed it, maybe you should read the forum terms of use page:

You subject yourself to possible suspension and/or termination from the Forum if you do any of the following:

Use the Forum for the publication of spam, explicit commercial advertising, or of material intended to solicit a person to buy or sell services, to invest in a specific enterprise, or to make donations. However, there may not always be a clear line between sharing information on investment opportunities and using the forum as a place to simply market products and services. If you think that your post might be interpreted as spam, don't post it. Furthermore, self-promotion should be by way of deeds not ads. Members should make their own assessment of what industry professionals have to offer based on the utility of their contributions to the forum, not the size of their signatures. Blatant soliciting for investment funds or investment partners through the forum will not be tolerated

I'm in it for the long term

I provided a possible fee structure to answer this question:

How do you determine good, better and best BA ??

Do you think that my answer is spam or an ad?

 

[MarkB]

I'm in it for the long term

I guess time will tell, won't it?

Do you think that my answer is spam or an ad?

I'm not a moderator here (anymore), but imo the tone and content of your posts and your signature sail very close to the wind - even more so considering you are a new member to the forum.

There are lots of people here with links in their signatures to businesses that they run - many of them property related. However, the majority of these people also contribute and have contributed to the general knowledge on the forum over an extended period of time.

I suggest that maybe that's where your efforts are best focussed.

Enjoy your stay.

 

[superAndrew]

I'm not a moderator here (anymore), but imo the tone and content of your posts and your signature sail very close to the wind - even more so considering you are a new member to the forum.

I fully understand what you are saying but it's quite hard to respond to people when they ask you what you do without saying what you do since that will be seen as spam or ads.

 

[Corey Batt]

I fully understand what you are saying but it's quite hard to respond to people when they ask you what you do without saying what you do since that will be seen as spam or ads.

Does your paid service also flog off Cat 3 properties in rural Tas, backing onto trail lines which is also next to an airport?

 

[superAndrew]

Does your paid service also flog off Cat 3 properties in rural Tas, backing onto trail lines which is also next to an airport?

Didn't you already ask me this before? Let me give you the same reply I did last time.

The property already has a tenant in place.

You're violating one of the most important rules of property investing mate. That's the second time.

"Just because you don't want to live in it doesn't mean that others won't live in it and pay rent".

 

[Corey Batt]

Didn't you already ask me this before? Let me give you the same reply I did last time.

The property already has a tenant in place.

You're violating one of the most important rules of property investing mate. That's the second time.

"Just because you don't want to live in it doesn't mean that others won't live in it and pay rent".

Considering many on the forum have given me the nick of resident 'Slumlord', it's not so much a problem of me having overly high standards for property quality, more that I care about the investment quality. When you're flogging off properties with little capital growth perspective because of a whole host of negatives, fairly average CF returns and not much other benefits, I think it's particularly prudent to ask 'why'. Especially now that you've revealed your true motives, it's good to question where your logic falls on recommending such properties.

 

[superAndrew]

Maybe you should properly read previous posts before you comment.

I'm not flogging off any properties. Those properties are just examples to help starting investors find their own. Most of them are under contract already or sold.

Some of them are good and some will lack capital growth which sometimes can be the case with positively geared properties. That's why it's free, it's supposed to help others learn and not give it to them ready on a plate, charge a fee, say thanks and come back next time.

If you have a closer look the listings cover all states in Australia and Tasmania happens to be one of them.

Why don't you enlighten us with an example of a high grade investment property?

 

[jim1964]

Haha detective KFC is on the case!

That thinner stuff he works with is sooooooo goooood.

 

[Corey Batt]

Maybe you should properly read previous posts before you comment.

I'm not flogging off any properties. Those properties are just examples to help starting investors find their own. Most of them are under contract already or sold.

Some of them are good and some will lack capital growth which sometimes can be the case with positively geared properties. That's why it's free, it's supposed to help others learn and not give it to them ready on a plate, charge a fee, say thanks and come back next time.

If you have a closer look the listings cover all states in Australia and Tasmania happens to be one of them.

Why don't you enlighten us with an example of a high grade investment property?

That would be why I was asking whether you would be flogging off the same type of quality properties to paid customers. What I don't understand is why anyone selling a service (the ability to find quality properties) would lump low grade examples on their website.

Here's an example which took all of two seconds:

http://www.realestate.com.au/property-duplex+semi+detached-sa-smithfield+plains-116703843

Sold for 150k. Rental rate of 240wk, equating to a yield of 8.32%.

Corner block, subdividable easily into 2 courtyard homes, or you can go as crazy at 3 blocks as it's zoned Regeneration, within the Playford Council.

Renovation potential to increase your val by 30-40k with a small cost, located within a rapidly changing area with uptrending median prices. In a city with a population of 1.2m and growing. Local population growth for the area is 3% p.a.

And conveniently Category 1 rating by LMI.

Not everyones cup of tea, but a lot more palatable than regional Tas, cat 3 location next to multiple price reducing entities (train lines, airports etc)

 

[superAndrew]

Here's an example which took all of two seconds:

http://www.realestate.com.au/propert...ains-116703843

Sold for 150k. Rental rate of 240wk, equating to a yield of 8.32%.

Property is not rented out so taking the highest rent properties are currently advertised in the area is not how you estimate rents.

Median rent for this suburb is $200. This property at it's current state would probably fetch less than that.

This one is advertised for $200 pw and is in a much better state than your property.

http://www.realestate.com.au/property-duplex+semi+detached-sa-smithfield+plains-404720605

It's also advertised for $155,000 not $150,000 and is under contract. How do you know the contract price? Do you have any interest in it?

Also picking properties in your area is quite easy but investors are also interested in interstate properties.

 

[D.T.]

Property is not rented out so taking the highest rent properties are currently advertised in the area is not how you estimate rents.

Median rent for this suburb is $200. This property at it's current state would probably fetch less than that.

This one is advertised for $200 pw and is in a much better state than your property.

http://www.realestate.com.au/property-duplex+semi+detached-sa-smithfield+plains-404720605

I think you'll find that 3 people i know personally own a house in that suburb, including one in that very street. There's no way a house (you linked a semi for some reason?) would rent as low as 200.

 

[Corey Batt]

Property is not rented out so taking the highest rent properties are currently advertised in the area is not how you estimate rents.

Median rent for this suburb is $200. This property at it's current state would probably fetch less than that.

This one is advertised for $200 pw and is in a much better state than your property.

http://www.realestate.com.au/property-duplex+semi+detached-sa-smithfield+plains-404720605

So I see your figures are out by quite a bit then.

I actually own properties on that street which are renting for $260wk. I have quite a few clients who have properties in the area also, with similar and higher rents. I've used quite an accurate figure. Last Thursday alone I had a valuation for a purchase for a client a few streets away, with the valued rental amount of $260wk - for a completely comparable property.

The average rent for a freestanding home unrenovated home in Smithfield Plains is $240wk. Realestate.com.au's median rent is set at 260wk for the area.

The average rent for a semi-detached home is $200wk, as they are the lowest quality type of stock for an area, so the lowest desirability.

If your figures are that far out, I'd be concerned how your figures are being presented with all properties that you spruik. Especially if you are just relying on stats spouted out from a data source, without using qualitative analysis.

 

[superAndrew]

There's no way a house (you linked a semi for some reason?) would rent as low as 200.

That's what this one is listed as. A semi.

http://www.realestate.com.au/property-duplex+semi+detached-sa-smithfield+plains-116703843

 

[D.T.]

That's what this one is listed as. A semi.

http://www.realestate.com.au/property-duplex+semi+detached-sa-smithfield+plains-116703843

Hmm maybe it was listed wrong, it's definitely a house which is subdividable.

 

[Corey Batt]

That's what this one is listed as. A semi.

http://www.realestate.com.au/property-duplex+semi+detached-sa-smithfield+plains-116703843

Error in the listing type, obviously. Do you see another house attached to it?

 

[superAndrew]

I actually own properties on that street which are renting for $260wk. I have quite a few clients who have properties in the area also, with similar and higher rents. I've used quite an accurate figure. Last Thursday alone I had a valuation for a purchase for a client a few streets away, with the valued rental amount of $260wk - for a completely comparable property.

So you have an interest in this area.

I don't know who's figures are far out.

Why would someone rent your example when they can get this refurbished house for the same price ($240 pw)

http://www.realestate.com.au/property-house-sa-smithfield+plains-413225983

 

[Corey Batt]

So you have an interest in this area.

Mate do you actually make money from the properties you invest in?

Why would someone rent your example when they can get this refurbished house for the same price ($240 pw)

http://www.realestate.com.au/property-house-sa-smithfield+plains-413225983

I make quite a tidy sum, on both the value and rent.

Connekt sell government refurbed houses and occasionally pick up the rent roll. They rent them out under market to get them flogged off quickly. In the last year where 100's of properties have been listed for rent, <10 have been these Connekt properties. Understanding these variables is a key to securing strong deals, than skimming properties and scattering gunning anything with a rental yield over 7%.

Back to my question before:

Does your paid service also flog off Cat 3 properties in rural Tas, backing onto trail lines which is also next to an airport?