Yale Property Solutions

[Dean1972]

We just finished having a presentation from Yale Property Solutions and whilst I didn't get any initial bad 'gut feelings' about the meeting, I don't fully understand how my outlaying $60 a week could get me an IP.

As I have not found much in the way of reviews about Yale Property Solutions, has anyone dealt with them before? (good or bad)

As with researching for our solar system, what other companies in Perth would people recommend we use?, and

What are realistic costs associated with buying an IP? To me, if $60 is all it took, everyone would be doing it.

Thanks in advance for any assistance or advice you can provide.

Deano

 

[Rolf Latham]

We just finished having a presentation from Yale Property Solutions and whilst I didn't get any initial bad 'gut feelings' about the meeting, I don't fully understand how my outlaying $60 a week could get me an IP.

As I have not found much in the way of reviews about Yale Property Solutions, has anyone dealt with them before? (good or bad)

As with researching for our solar system, what other companies in Perth would people recommend we use?, and

What are realistic costs associated with buying an IP? To me, if $60 is all it took, everyone would be doing it.

Thanks in advance for any assistance or advice you can provide.

Deano

Hi Dean

what are thye suggesting you do ?

ta
rolf

 

[Dean1972]

First of all, a big sorry guys for posting in the wrong area, first time post and I thought I was creating a new topic to be discussed.

Rolf,
Their first question before asking about our finance situation was how much can we afford a week, which is where the $60 came from. They were suggesting that I pay $770 membership fee of which financial professional would come and look at our mortgage etc, look to re-finance and then use the equity from our house to purchase an IP, of which they would find tenants, do all the taxes and all we had to do was give them $60 a week and the house would be negatively geared. After 5 years, you would then add a second IP, third at 10 years until we had 5 houses. Being the newby that I am, I have no idea if this is a good deal, bad deal like Amway re-sellers and if $60 is all we would be out of pocket.

Will have to do a lot more research on negative/positive gearing before I sign up for everything, too many horror stories out there where people get done over by companies such as this buying off the plan.

Dean.

 

[Terry_w]

First of all, a big sorry guys for posting in the wrong area, first time post and I thought I was creating a new topic to be discussed.

Rolf,
Their first question before asking about our finance situation was how much can we afford a week, which is where the $60 came from. They were suggesting that I pay $770 membership fee of which financial professional would come and look at our mortgage etc, look to re-finance and then use the equity from our house to purchase an IP, of which they would find tenants, do all the taxes and all we had to do was give them $60 a week and the house would be negatively geared. After 5 years, you would then add a second IP, third at 10 years until we had 5 houses. Being the newby that I am, I have no idea if this is a good deal, bad deal like Amway re-sellers and if $60 is all we would be out of pocket.

Will have to do a lot more research on negative/positive gearing before I sign up for everything, too many horror stories out there where people get done over by companies such as this buying off the plan.

Dean.

hmmmmmmmm,

 

[Peter_Tersteeg]

First of all, a big sorry guys for posting in the wrong area, first time post and I thought I was creating a new topic to be discussed.

Rolf,
Their first question before asking about our finance situation was how much can we afford a week, which is where the $60 came from. They were suggesting that I pay $770 membership fee of which financial professional would come and look at our mortgage etc, look to re-finance and then use the equity from our house to purchase an IP, of which they would find tenants, do all the taxes and all we had to do was give them $60 a week and the house would be negatively geared. After 5 years, you would then add a second IP, third at 10 years until we had 5 houses. Being the newby that I am, I have no idea if this is a good deal, bad deal like Amway re-sellers and if $60 is all we would be out of pocket.

Will have to do a lot more research on negative/positive gearing before I sign up for everything, too many horror stories out there where people get done over by companies such as this buying off the plan.

Dean.

This is setting off quite a few alarm bells.

* They sell you the property.
* They give you the finance and legal advice.
* They rent the property on your behalf.

They're acting for both the buyer, and the seller. There's a very clear conflict of interest in this sort of service. You're not actually receiving advice from an independent party.

Instead of trusting them to take your money at every turn, you'd probably be better off by reading the forum and educating yourself, go to some of the meetings organized through the forum and read some of the recommended books.

It's also kind of telling that they think people can only buy one property every 5 years. We've got clients that have bought 4 good quality cash flow positive properties in the few months.

The best thing you can do is educate yourself, it enables you to forge your own path.

 

[Hodge]

First of all, a big sorry guys for posting in the wrong area, first time post and I thought I was creating a new topic to be discussed.

Rolf,
Their first question before asking about our finance situation was how much can we afford a week, which is where the $60 came from. They were suggesting that I pay $770 membership fee of which financial professional would come and look at our mortgage etc, look to re-finance and then use the equity from our house to purchase an IP, of which they would find tenants, do all the taxes and all we had to do was give them $60 a week and the house would be negatively geared. After 5 years, you would then add a second IP, third at 10 years until we had 5 houses. Being the newby that I am, I have no idea if this is a good deal, bad deal like Amway re-sellers and if $60 is all we would be out of pocket.

Will have to do a lot more research on negative/positive gearing before I sign up for everything, too many horror stories out there where people get done over by companies such as this buying off the plan.

Dean.

I would be very careful. If I was in your shoes I would not proceed. Seems to me they will create a web of trouble. Probably will cross coll all the properties. Stick with the forums, within 6 months you'll be armed with enough information to proceed on your own.

Most of the time companies like these are just looking for the next sucker.

 

[Jamie M]

Will have to do a lot more research on negative/positive gearing before I sign up for everything, too many horror stories out there where people get done over by companies such as this buying off the plan.

Dean.

Hi Dean

Take your time and don't rush into anything.

There's so many property marketing companies out there professing to offer an all in one shop which generally involves overpriced property and too many middle men making big commissions.

As has been mentioned - educate yourself first. Stick around the forum - read up and ask questions. There's heaps of great books out there too.

Cheers

Jamie