TMNT, don't rush into any purchases!
pinkboy
Its ok pinkboy, ive only bought 7 from him
He saved me 5k and he only took a 4.9k commission
I now have a rental guarantee in some area ive never heard of
Property mentor - Binvested Nathan Birch
- Thread starter sprightly
- Start date
Its ok pinkboy, ive only bought 7 from him
He saved me 5k and he only took a 4.9k commission
I now have a rental guarantee in some area ive never heard of
Sure about that? I just looked up Andrew Shini here and couldn't find any hits under Real Estate. Unless Andrew Shini is not your name.
http://www.fairtrading.qld.gov.au/registers/check-licence
Last edited:
I'm not buying it on their behalf or represent them.
But you need to be licensed to be a buyers agent and you're not.
Hrm, it appears that the company is also not licenced, when both the agency and acting agent require licencing in all relevant states that they operate within property.
I'm sure the QLD Office of Fair Trading would be very interested in such a situation.
I'm just going to re post this comment as it seems to answer all your questions.
Wow so much hate. Didn't expect grown ups to act like this on a forum.
Here are 15 reasons why people hate according to this website:
http://thoughtcatalog.com/keay-nigel...ters-hate-you/
1. Because you have something that they don?t.
2. Because they think you don?t deserve it.
3. Because they don't want to lose to you.
4. Because they can't get over the past.
5. Because they can't get over you.
6. Because they have nothing better to do in life.
7. Because their life just ain't as great and exciting as yours.
9. Because they can.
10. Because they are such bigots.
11. Because they are such self-righteous, moral high priests.
12. Because they are big green-eyed monsters.
13. Because they are unhappy with some things in their own life.
14. Because they need to put someone down to feel good about themselves.
15. Because they are, in general, just losers.
You know which one you are.
So far non of you have listed even one positive cash flow property. Please feel free to do so. Still waiting
I got 100's (8-20% yield, a few that go up to 30% and not in mining areas).
This is what is called disruptive technology (the application I developed). It looks like magic and most don't like it because they can't explain it so they will start hating. Expected but disappointed that a few grown ups are acting like children and are trying to bully me. I understand the term keyboard warrior now.
But at the same time excited that my technology is generating so much attention and heat from long time forum members (who by the way should know that bullying on a forum is just pathetic but asking respectful questions is more appropriate)
I came up with a new technology (which I provide for free) and a new BA fee structure that helps buyers get the best price and all I get is a bunch of envious kids trying to bully me on a forum. Good luck to you. Let's see what you can come up with.
Thank you to all of you who have subscribed to my website and who are still subscribing. Didn't expect those numbers
And also thank you to the paying users. At least 8 who have contacted me are from this forum.
Wow so much hate. Didn't expect grown ups to act like this on a forum.
Here are 15 reasons why people hate according to this website:
http://thoughtcatalog.com/keay-nigel...ters-hate-you/
1. Because you have something that they don?t.
2. Because they think you don?t deserve it.
3. Because they don't want to lose to you.
4. Because they can't get over the past.
5. Because they can't get over you.
6. Because they have nothing better to do in life.
7. Because their life just ain't as great and exciting as yours.
9. Because they can.
10. Because they are such bigots.
11. Because they are such self-righteous, moral high priests.
12. Because they are big green-eyed monsters.
13. Because they are unhappy with some things in their own life.
14. Because they need to put someone down to feel good about themselves.
15. Because they are, in general, just losers.
You know which one you are.
So far non of you have listed even one positive cash flow property. Please feel free to do so. Still waiting
I got 100's (8-20% yield, a few that go up to 30% and not in mining areas).
This is what is called disruptive technology (the application I developed). It looks like magic and most don't like it because they can't explain it so they will start hating. Expected but disappointed that a few grown ups are acting like children and are trying to bully me. I understand the term keyboard warrior now.
But at the same time excited that my technology is generating so much attention and heat from long time forum members (who by the way should know that bullying on a forum is just pathetic but asking respectful questions is more appropriate)
I came up with a new technology (which I provide for free) and a new BA fee structure that helps buyers get the best price and all I get is a bunch of envious kids trying to bully me on a forum. Good luck to you. Let's see what you can come up with.
Thank you to all of you who have subscribed to my website and who are still subscribing. Didn't expect those numbers
And also thank you to the paying users. At least 8 who have contacted me are from this forum.
Better forward a copy to the Office of Fair Trading too, buddy.
Cjay still waiting for you to find a positive cash flow property.
Show us your breakdown of 13 Cushen St and how it does not provide + cashflow.
He doesn't have any the same way you don't have a license.
I agree!
What would you know about cashflow positive property Cjay? I don't think its fair that you're judging Andrew without your own house being in order (so to speak)!
Just had to pop in to thank everyone for this thread which has brought some excitement to this remote worker's boring evening. Nothing to add that hasn't already been said. A timely reminder of the risks of using a BA without doing your own research and learning so that you can have a least some sense of whether or not you're being offered something you could have picked yourself, sight unseen, from the internet having networked a bit and built relationships with (and sought recommendations for) a few RE agents and a builder in the area you are considering. I've done this a few times myself and did okay by looking at the target numbers as well as all the above. I would use a BA but I would be expecting to pay for potentially better results than I can find myself and I'd have some means of working whether they are or not.
At least something positive coming from this thread. Kids pay attention. This is how grown ups talk.
Ellejay I'm not even advertising my services as a buyer agent on my website nor am I advertising them anywhere else. That's not even my main source of income.
I only proposed a new fee structure for buyer agents where the buyers and BA's interest are aligned. What are you thoughts on my fee structure?
It sounds interesting but can you please elaborate on this in a bit more detail as per a few requests on this, that would be great.
Here is a simple example:
Property advertised price: $500,000
Purchase price: $450,000
Discount: $50,000
My commission can be fixed 5-10k depending on the price of the property and will be deducted from the discount. However if I can only get a discount of $4,000 then that will be my commission. If I get no discount at all then my commission will only be the engagement fee which is $1000.
The other option is to use the % method. I get 30% of the discount I can negotiate and the buyer get's 70% of the saving. In the example above that would be $15,000.
The option we chose depends on the price range and the option the buyer wants. We decide this before we start looking at properties.
This method aligns both our interests. Most buyer agents will just flog you anything since they are getting paid either way. They just have to buy you a property.
Selling agent and seller interest are both aligned but I feel that buyers are not properly represented by buyer agents due to their fee structure.
Property advertised price: $500,000
Purchase price: $450,000
Discount: $50,000
My commission can be fixed 5-10k depending on the price of the property and will be deducted from the discount. However if I can only get a discount of $4,000 then that will be my commission. If I get no discount at all then my commission will only be the engagement fee which is $1000.
The other option is to use the % method. I get 30% of the discount I can negotiate and the buyer get's 70% of the saving. In the example above that would be $15,000.
The option we chose depends on the price range and the option the buyer wants. We decide this before we start looking at properties.
This method aligns both our interests. Most buyer agents will just flog you anything since they are getting paid either way. They just have to buy you a property.
Selling agent and seller interest are both aligned but I feel that buyers are not properly represented by buyer agents due to their fee structure.
I didn't fully understand it but thought the fee had the potential to be large. For example, I know some locations where you can easily, and should offer around $30k less than the asking price, also depends on the market etc, and of course whether or not said property has been on the market for an age as it backs onto a railway line. Does this mean the buyer could end up paying a higher fee for a undesirable property because you were easily able to get asking price down. This would end up being catastrophic for an inexperienced buyer, putting their faith in you and ending up with something hard to rent out or sell. It just doesn't sou d good for the buyer unless I'm missing something. You'd get your fee though of course. Apologies if this is not how your structure works.
I'm guessing it's not actually "deducted from the discount" but is in fact "paid in addition to the purchase price".
