Discussion
Now before everyone laughs at me for falling for one of these 'get rich quick' seminars, it was free and I wanted to see if there was any useful information I could take away from it!
From a quick google search it seems that it was all the sales pitch and hype I thought I got, but does it still work? I mean their ideas seemed sound, and in principal are very valid. Thing is, can they deliver?
From a quick google search it seems that it was all the sales pitch and hype I thought I got, but does it still work? I mean their ideas seemed sound, and in principal are very valid. Thing is, can they deliver?
I'm not a great believer in Property Clubs like this. Sure they claim to offer you discounts on new property, but the joining fees etc are high.
You also have to factor in that they will be pushing the same blocks of property to many other investors. If too many flats come on to that market, be it for rental or purchase, you have to accept that this will depress the value of these properties.
I think if you do your research on a given area, get to know the local agents, and prove you are a serious buyer, I think you will find better investments.
You also have to factor in that they will be pushing the same blocks of property to many other investors. If too many flats come on to that market, be it for rental or purchase, you have to accept that this will depress the value of these properties.
I think if you do your research on a given area, get to know the local agents, and prove you are a serious buyer, I think you will find better investments.
Here's the format (they all do it)
1) Attend 'Free' seminar. This seminar lasts about three hours and is nothing but a plug for you to attend the weekend intensive course. Price is usually around £2/3k.
2) Attend weekend intensive course (you're now £2/3k in the hole) where they reveal the 'secrets', and you will be shown properties at supposed reduced prices, because they're off-plan. You'll be encouraged to put a deposit (at least 10%) on the property, but the reduction you get is at least 20%, because you've bought off-plan. Hey Presto - instant equity...Only it's not because the property you put the deposit on was massively overpriced in the first place. Then you're left wondering if the estate agent and the property seminar promoter were splitting the commission. That £220k property that you bought for the bargain price of £200k is actually only worth £180k.
If you still want to go ahead, buy one of these first...
www.BargePoles'R'Us.com/onlineshop/thetwohundredfootbargepoleespeciallyforpropertyseminarattendees.html
1) Attend 'Free' seminar. This seminar lasts about three hours and is nothing but a plug for you to attend the weekend intensive course. Price is usually around £2/3k.
2) Attend weekend intensive course (you're now £2/3k in the hole) where they reveal the 'secrets', and you will be shown properties at supposed reduced prices, because they're off-plan. You'll be encouraged to put a deposit (at least 10%) on the property, but the reduction you get is at least 20%, because you've bought off-plan. Hey Presto - instant equity...Only it's not because the property you put the deposit on was massively overpriced in the first place. Then you're left wondering if the estate agent and the property seminar promoter were splitting the commission. That £220k property that you bought for the bargain price of £200k is actually only worth £180k.
If you still want to go ahead, buy one of these first...
www.BargePoles'R'Us.com/onlineshop/thetwohundredfootbargepoleespeciallyforpropertyseminarattendees.html
I agree with everything above. They are there to rip everyone off.
However, my company is looking at things differently. There are good deals to be had on some new builds and auction properties.
Our clients who are looking to invest in such property are pooling together and we are using this as leverage to negotiate with developers on their behalf, no seminars, no up front fees. The discounts you get are off what the developer thinks the future value will be on completion (up to 2 years away) but we look at it as how much your are getting off if the property was available today.
We arrange the finance, which although you would either need the 10% deposit or on new builds an exchange bond, if structured properly you could, and this does depend on future market conditions, end up buying the property and getting the deposit monies back!
Adrian
However, my company is looking at things differently. There are good deals to be had on some new builds and auction properties.
Our clients who are looking to invest in such property are pooling together and we are using this as leverage to negotiate with developers on their behalf, no seminars, no up front fees. The discounts you get are off what the developer thinks the future value will be on completion (up to 2 years away) but we look at it as how much your are getting off if the property was available today.
We arrange the finance, which although you would either need the 10% deposit or on new builds an exchange bond, if structured properly you could, and this does depend on future market conditions, end up buying the property and getting the deposit monies back!
Adrian
Yep I went to a free seminar. They did through a bunch of cheesy lines etc to join up to the 2day seminar and they did get a few!
Was merely asking about their principal i.e. to buy off-plan at below market value as it is a new idea to me but sounds very feasible.
Smirnoff your company sounds interesting, any more information?
Was merely asking about their principal i.e. to buy off-plan at below market value as it is a new idea to me but sounds very feasible.
smirnoff said:
I agree with everything above. They are there to rip everyone off.
However, my company is looking at things differently. There are good deals to be had on some new builds and auction properties.
Our clients who are looking to invest in such property are pooling together and we are using this as leverage to negotiate with developers on their behalf, no seminars, no up front fees. The discounts you get are off what the developer thinks the future value will be on completion (up to 2 years away) but we look at it as how much your are getting off if the property was available today.
We arrange the finance, which although you would either need the 10% deposit or on new builds an exchange bond, if structured properly you could, and this does depend on future market conditions, end up buying the property and getting the deposit monies back!
Adrian
However, my company is looking at things differently. There are good deals to be had on some new builds and auction properties.
Our clients who are looking to invest in such property are pooling together and we are using this as leverage to negotiate with developers on their behalf, no seminars, no up front fees. The discounts you get are off what the developer thinks the future value will be on completion (up to 2 years away) but we look at it as how much your are getting off if the property was available today.
We arrange the finance, which although you would either need the 10% deposit or on new builds an exchange bond, if structured properly you could, and this does depend on future market conditions, end up buying the property and getting the deposit monies back!
Adrian
Smirnoff your company sounds interesting, any more information?
Gassing Station | Business | Top of Page | What's New | My Stuff