You're too positive in your posts TPFKAD.... Stop being so chipper, why not try some sarcasm?
Warning; Investors Club
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You're too positive in your posts TPFKAD.... Stop being so chipper, why not try some sarcasm?
"the club" should read "the marketing company"
Some simple research here and http://www.invested.com.au/ can give some understanding on how LOE can work for some. There are plenty of LOE exel spreadsheets to help, again all free and allow you to put in realistic numbers.
Of course you can put in unrealistic numbers and see the graph shoot to the moon making even the worst investment look great..................if this in some way makes you feel better about it
Good oh, if people are to stupid to use re.com, look in a paper and do at least some very basic DD, i suppose they deserve to then pay $38k too much for a property.
Explain how this is the road to a financially secure future again?
Yeah, I and many here had a far better platform than a lot of investors
, we had a newspaper, a pocket calculator and a phone.Sophisticated stuff
Now we have the internet, woo hoo, but at least it alows us to easily compare (TIC) properties against others in the same area.
Do I really have to show how paying $38k too much for essentially the same property and thinking that rental will be $50-$70/week more than reality will stuff up the numbers?
What financial education has TIC got?
Anyone, anyone at all.
Dave
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You're too positive in your posts TPFKAD.... Stop being so chipper, why not try some sarcasm?
Oscar Wilde, the Irish playwright, poet and author of numerous short stories and one novel, also known for his wit, declared that
Or was it
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The Web said:
Stop using acronyms then, or is it a Russian name TPFKAD sounds southern Siberian or Nothern Mongolia?
Boat boy some good answers to my basic questions. I am getting a better understanding how this Investors club works now. Have you used them before or had dealings with them. I never knew they mark up their properties so much.
I would rather use my own research also as you stated at looking at realestate.com etc and do some basic research.
Thanks for the input everyone.
I would rather use my own research also as you stated at looking at realestate.com etc and do some basic research.
Thanks for the input everyone.
No I haven't used them, but do receive their emails and get to access their site and listings of properties for sale and the rental they expect so as to compare them against others on RE.com.
I do have some relations that got into the PI game, they chose not to do the research themselves and instead got suckered into a "club" as they refer to it (TIC ???).
I suggested at the time when shown what the deals were that they were ridiculous, and got the "what would I know" treatment.
When they needed a renewal of lease on these properties they saw what the rental market reality was and decided to sell as it wasn't all "sunshine and lollipops" like the spruikers made out.
Then they found out what the actual value of the property was, not just what the friendly "club" recommended Valuer and financier said it was.
Dave
I would suggest that having just those two conditions would not necessarily be enough to throw in the job. Someone is using some pretty optimistic assumptions if they "advise" you to leave the job at that level.
Keep an eye out - you may soon see those advisers back in paid employment pretty soon!
BoatBoy - kudos for the good work in this thread - given a choice between your own research (with SS to help!) and TIC for newbies the choice is pretty obvious...
How can we get Kevin Young on this site to inform us all how he is making all these millionaires. I would be happy to hear his view on how sell his properties through the "Club". Anyone think he would be interested?
I have dealt with this mob....I remember going to a meeting a couple of years ago to get this woman from the club off my back.
Any the story goes like this.....she was giving me the spiel about all the risk and all the things they give you for free. Then she carried on about all the Millionaires uncle Kev was going to make.
She then asked me how many properties I had....and it was interesting to see her face! Then I she told me about Melton and how it was going...and I said I already had one there...she then "accused" me of stealing club research...blah...blah..blah...I think this was when I lost it.
Needless to say I won't bother with them. I find most of their clientele pretty unsophisticated.....they simply want to be lead like sheep...mostly baby boomers panicking about their retirement. The have this millionaires club as something to aspire to......something to pull people in socially.
I also think people loose credibility when they carry one about the crooks in the Reserve Bank....that shows the level of sophistication. Since when could the TIC influence a country's montetary policy!!!
Any the story goes like this.....she was giving me the spiel about all the risk and all the things they give you for free. Then she carried on about all the Millionaires uncle Kev was going to make.
She then asked me how many properties I had....and it was interesting to see her face! Then I she told me about Melton and how it was going...and I said I already had one there...she then "accused" me of stealing club research...blah...blah..blah...I think this was when I lost it.
Needless to say I won't bother with them. I find most of their clientele pretty unsophisticated.....they simply want to be lead like sheep...mostly baby boomers panicking about their retirement. The have this millionaires club as something to aspire to......something to pull people in socially.
I also think people loose credibility when they carry one about the crooks in the Reserve Bank....that shows the level of sophistication. Since when could the TIC influence a country's montetary policy!!!
I wouldn't use the word "fantastic" when it comes to TIC but they were the organisation that got me started in property investing. They held my hand, taught me basic principles, provided services which I knew nothing about. They gave me a rental guarantee, linked me to a credible quantity surveyor, gave me names of solicitors, insurers etc.
I, like many other investors, needed a catalyst to get going. 10 years ago, TIC was that catalyst and I'm forever grateful for them.
I had a chance to talk to a few different property clubs like this over the last few years... and they do give you a little bit of info which helps, but when they bugged me till i came in to talk they tried to convince me to sell the 2 IPs i have now and buy 1 single room appartment closer to the city.
From that point i couldnt undertstand why i would sell, 1 is CF+ and the other just CF- by only Hundreds of dallars a year. this prompting me to buy my 3rd as we speak.
I said ok and listened to there theory to go into more detail on how this all worked, how could selling and paying CG tax and sales commissions and all the toher fees be worth it.
I asked, so how do u get paid. They then said the RE pays them and costs me nothing.
I kept at them and found they were asking $5000 for each sale and $10 000 for the purchase of the new one.
And then they tried to get me into there own life insurance packages, etc.
As soon as i said im looking to buy a 3rd, but not sell my other 2 they went on the why did you waste our time, the emails stopped suggesting seminars, the phone calls stopped and they just dissapeared.
From that point i couldnt undertstand why i would sell, 1 is CF+ and the other just CF- by only Hundreds of dallars a year. this prompting me to buy my 3rd as we speak.
I said ok and listened to there theory to go into more detail on how this all worked, how could selling and paying CG tax and sales commissions and all the toher fees be worth it.
I asked, so how do u get paid. They then said the RE pays them and costs me nothing.
I kept at them and found they were asking $5000 for each sale and $10 000 for the purchase of the new one.
And then they tried to get me into there own life insurance packages, etc.
As soon as i said im looking to buy a 3rd, but not sell my other 2 they went on the why did you waste our time, the emails stopped suggesting seminars, the phone calls stopped and they just dissapeared.
Aussie, I think xcesiv was talking clubs in general - not specifically TIC. Xcesiv, can you clarify which particular club said to sell?
Property Planning Australia I beleive it was.
I wanted to sit and discuss exit strategies and building on my current portfolio i left there with a bit more knowledge and knowing not to go through these types of companies
SS has done more for my knowledge and the success of my portfolio than any company has.
I wanted to sit and discuss exit strategies and building on my current portfolio i left there with a bit more knowledge and knowing not to go through these types of companies
SS has done more for my knowledge and the success of my portfolio than any company has.
that makes it about $65m of commission in WA alone? no wonder the guy with the hat is always smiling and travelling around on junkets.
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