Hi Dreamgirl
Just wondering if you have done much research into granny flats. I looked into them at an earlier point in time, and in my case, although one would increase cash-flow, it would not nesessarily add as much in CG as what it cost to build (or transport).
I'd be interested in your view!
Cheers
Locko
Just wondering if you have done much research into granny flats. I looked into them at an earlier point in time, and in my case, although one would increase cash-flow, it would not nesessarily add as much in CG as what it cost to build (or transport).
I'd be interested in your view!
Cheers
Locko
For me, I found reading up, being on the forum, researching real estate sites etc more beneficial than forking out my hard earned cash so someone can tell me what I can learn by myself.[/QUOTE]
i have not been on this site for a very long time, as the 'no more money' resulted in us taking our eye off the ball - we went to a short morning seminar last week, and we were so glad we had - it has woken us up from a long sedentary stage - most professionals update/refresh their skills if they really want to advance their careers - and I see us as know different - we are professional developers and we have always walked away from a 'property related' discussion with a new vision on something, and twice done a deal on the back of remembering that twist.
Dreamgirl, come on up to Brisbane, we have a couple of great guys up here who have very practical, advanced info on development - they walk the talk, and use experts in every field - again, it was their workshop that put a couple of profitable deals our way.
i have not been on this site for a very long time, as the 'no more money' resulted in us taking our eye off the ball - we went to a short morning seminar last week, and we were so glad we had - it has woken us up from a long sedentary stage - most professionals update/refresh their skills if they really want to advance their careers - and I see us as know different - we are professional developers and we have always walked away from a 'property related' discussion with a new vision on something, and twice done a deal on the back of remembering that twist.
Dreamgirl, come on up to Brisbane, we have a couple of great guys up here who have very practical, advanced info on development - they walk the talk, and use experts in every field - again, it was their workshop that put a couple of profitable deals our way.
I guess it depends on one's investment strategy. I'm looking to increase my income so that I can purchase more properties. So adding granny flats will fit right in to my portfolio. Besides, I'm planning to keep them long term.
I haven't gone ahead with it. Used the money towards a deposit for a new property purchase instead!
Good on you!
Perhaps PM me the details?
Hiya,
I'm considering signing up for a mentoring program. Has anyone in this forum tried it and has it paid dividends?
I feel somewhat stuck. I've reached that level when the banks are saying NO.
So I'm looking for other options to keep ploughing on.
Thanks,
dreamgirl
Hi there,
How's it going so far ? did you finally found someone that is worthwhile to learn from ?
DreamGirl, I was about to give you the same link to Tony Cordato! You mentioned you were also looking at Joint Ventures & his firm has great information on this.
If you are keen to look at lease options as a way of buying & selling property have a look at Rick Otton as an option. I have attended a number of conferences of his & also where he has been a guest speaker & found him quite knowledgeable on this topic.
Alternatively have a look for meetup groups in your area that provide a vehicle for swapping ideas with likeminded people. I have joined Brisbane Property Networking Group & SE Qld Cash Flow Positive Real Estate Development Group
Hope this helps
Last edited by a moderator:
Hi DreamGirl
As well as the groups Caroline mentioned there is the Vendor Finance Association of Australia
http://www.vendorfinance.asn.au
It has a meeting on the Gold Coast and a regular Brisbane meeting is just starting.
Cheers, Paul
As well as the groups Caroline mentioned there is the Vendor Finance Association of Australia
http://www.vendorfinance.asn.au
It has a meeting on the Gold Coast and a regular Brisbane meeting is just starting.
Cheers, Paul
I agree with RahRahPrincess check out Helen Collier-Kogtevs and her husband at Real Wealth Australia. I don't know them but from what I have heard the feedback is great, which is unusual.
You would be working with someone who has done what you want to do and it is one-on-one, you won't be working with someone who bought a franchise.
From what I have seen they genuinely give great content and information so I can only imagine their mentoring program would be well worth your while.
They are also certified through PIAA Property Investors Association of Australia - which gives you some idea on the professional nature of their business.
I hope this helps.
Jane
You would be working with someone who has done what you want to do and it is one-on-one, you won't be working with someone who bought a franchise.
From what I have seen they genuinely give great content and information so I can only imagine their mentoring program would be well worth your while.
They are also certified through PIAA Property Investors Association of Australia - which gives you some idea on the professional nature of their business.
I hope this helps.
Jane
Why you pull back from using + RE ? the Buyers Agency team seems to be a good idea in helping you to bargain for a good property ?
I also want to sign on the program now but I'm interested to hear from other people as of why they're not go ahead with certain coach ?
+ RE comments
Hi all,
First post - figured I had to jump on and comment on experiences with PRE. Signed up about a year ago with them after finding that I was falling into the trap of being an over-educated under-acheiver. I had spent many years researching and reading books without taking the final step and purchasing our first IP. After checking out a few of them out there - destiny, custodian etc I came across PRE and both my wife and I liked their attitude and the variety of strategies they can assist with. The primary benefit that we got was the confidence to take our first step and while we haven't purchased anything from their buyers agency, we have just negotiated on our third property and going strong. If you are the type of person who needs a good mentor program that will motivate you and assist you in your investment strategies then I can definitely recommend them to help you along your way.
It makes a massive difference if you are catching up with similar minded people once a week to discuss what everyone is doing etc. Also great having someone to assist you in structuring your finances/strategies/goals and to run any potential properties past to help eliviate any concerns.
Anyway - there is my 2 cents.. Have fun out there!
Hi all,
First post - figured I had to jump on and comment on experiences with PRE. Signed up about a year ago with them after finding that I was falling into the trap of being an over-educated under-acheiver. I had spent many years researching and reading books without taking the final step and purchasing our first IP. After checking out a few of them out there - destiny, custodian etc I came across PRE and both my wife and I liked their attitude and the variety of strategies they can assist with. The primary benefit that we got was the confidence to take our first step and while we haven't purchased anything from their buyers agency, we have just negotiated on our third property and going strong. If you are the type of person who needs a good mentor program that will motivate you and assist you in your investment strategies then I can definitely recommend them to help you along your way.
It makes a massive difference if you are catching up with similar minded people once a week to discuss what everyone is doing etc. Also great having someone to assist you in structuring your finances/strategies/goals and to run any potential properties past to help eliviate any concerns.
Anyway - there is my 2 cents.. Have fun out there!
Hi all,
First post - figured I had to jump on and comment on experiences with PRE. Signed up about a year ago with them after finding that I was falling into the trap of being an over-educated under-acheiver. I had spent many years researching and reading books without taking the final step and purchasing our first IP. After checking out a few of them out there - destiny, custodian etc I came across PRE and both my wife and I liked their attitude and the variety of strategies they can assist with. The primary benefit that we got was the confidence to take our first step and while we haven't purchased anything from their buyers agency, we have just negotiated on our third property and going strong. If you are the type of person who needs a good mentor program that will motivate you and assist you in your investment strategies then I can definitely recommend them to help you along your way.
It makes a massive difference if you are catching up with similar minded people once a week to discuss what everyone is doing etc. Also great having someone to assist you in structuring your finances/strategies/goals and to run any potential properties past to help eliviate any concerns.
Anyway - there is my 2 cents.. Have fun out there!
Cool, thanks for the honest and open review mate, for a beginner like me I think it is fine to join with them for mentoring and knowledge gain. WHile as for your case you;re a seasoned expert
RESULTS Mentoring is a well established and very professional outfit. Have a look at www.resultsmentoring.com.au
Regards
Alistair
Regards
Alistair
I agree 100% that there are numerous good books covering all apsects of investing, and forums such as this are also great for gathering information or exchanging ideas. That has, and always will be, a part of my ongoing investment education.
However, I fail to see why someone would begrudge paying for quality assistance and education in this area. Presumably, most of us are investing because we know our day jobs won't provide enough income for retirement, or because we want the freedom to give up that day job earlier or at least have a choice. And yet many of those day jobs require education through Uni, Tafe or some other institution which you have to pay for (sometimes a great deal). If you are considering investing hundreds of thousands of dollars into 1 property, let alone multiples, why would you be any less inclined to obtain the right assistance and education?
Without a doubt it is critical that you do your homework to ensure that the person giving the advice has a track record, relevant qualifications/accreditation, and transparency in their operation. If they have all that, and people are asking for their help, why shouldn't they charge for their valuable time? And if they can offer access to other services, which you may or may not be interested in, why should they not receive some benefit if you take up those other services (again transparency is important)?
Personally, I am happy to enagage a professional "fee for service" business. However I know of several ethical, professional, experienced investors who work for organisations who do not charge an upfront fee for service, but rather, make their money if finance services are required, or a property is purchased etc. Lets face it, most people don't want to pay for something if they think they can get it for free, which is fine as long as you ensure those additional, commision paying services are in accordance with your investing plan, and are moving you closer to your goals.
My 2c worth.
However, I fail to see why someone would begrudge paying for quality assistance and education in this area. Presumably, most of us are investing because we know our day jobs won't provide enough income for retirement, or because we want the freedom to give up that day job earlier or at least have a choice. And yet many of those day jobs require education through Uni, Tafe or some other institution which you have to pay for (sometimes a great deal). If you are considering investing hundreds of thousands of dollars into 1 property, let alone multiples, why would you be any less inclined to obtain the right assistance and education?
Without a doubt it is critical that you do your homework to ensure that the person giving the advice has a track record, relevant qualifications/accreditation, and transparency in their operation. If they have all that, and people are asking for their help, why shouldn't they charge for their valuable time? And if they can offer access to other services, which you may or may not be interested in, why should they not receive some benefit if you take up those other services (again transparency is important)?
Personally, I am happy to enagage a professional "fee for service" business. However I know of several ethical, professional, experienced investors who work for organisations who do not charge an upfront fee for service, but rather, make their money if finance services are required, or a property is purchased etc. Lets face it, most people don't want to pay for something if they think they can get it for free, which is fine as long as you ensure those additional, commision paying services are in accordance with your investing plan, and are moving you closer to your goals.
My 2c worth.
Thanks mate, however
www.resultsmentoring.com.au
This Domain name is registered and parked with Crazy Domains.
seems they're gone already
Definitely a good broker - I've purchased 11 in the past 5 years, and my broker was instrumental to this.
I'm also happy to offer any advice, as I've been there before. Feel free to PM me or email [email protected]
A lot has changed since I originally posted this thread in Feb 2011.
I've had a few PMs about whether I proceeded with the mentoring, so I thought I'd update this thread.
I have purchased 3 more IPs and built 3 granny flats!
And didn't end up signing for any mentoring.
Saved myself the 10K fee, which came in handy for deposits.
The last 2 IP purchased were recent.
I owe the banks' generosity to the extra income from the granny flats.
So for me, the GF path has definitely paid off.
It's a bit of a pain with regards to getting valuation, but the extra rent is helping serviceability.
Thanks to all the posters here who have helped me along the way, you're all a wealth of valuable info!!
Cheers,
dreamgirl
I've had a few PMs about whether I proceeded with the mentoring, so I thought I'd update this thread.
I have purchased 3 more IPs and built 3 granny flats!
And didn't end up signing for any mentoring.
Saved myself the 10K fee, which came in handy for deposits.
The last 2 IP purchased were recent.
I owe the banks' generosity to the extra income from the granny flats.
So for me, the GF path has definitely paid off.
It's a bit of a pain with regards to getting valuation, but the extra rent is helping serviceability.
Thanks to all the posters here who have helped me along the way, you're all a wealth of valuable info!!
Cheers,
dreamgirl
