Property Investment Seminars

[rdhopkins2]

Anyone attended any property investment seminars recently?

What company hosted it?
Was it educational?
Did you find it useful?
Was it a hard sell?
Did you follow up with the company?

If you purchased property, how are your feelings about your purchase?

 

[Deaneus!]

I worked in the industry a while back

They take enormous commissions

Build yourself if possible

 

[Pea Nut]

Anyone attended any property investment seminars recently?

What company hosted it?
Was it educational?
Did you find it useful?
Was it a hard sell?
Did you follow up with the company?

If you purchased property, how are your feelings about your purchase?

There are two types of seminars when it comes to property investment. The seminars which are usually quite expensive consist of "investors" who think everyone wants to know what they did building their portfolio, and want to get paid royally for the experience. Then there are the cheaper, sometimes free seminars which will consist of advice that narrows the focus of where to invest your money, followed by a hard sell of the product they are selling, which just happens to be the exact type of property you have just been told to invest in !!

My opinion, do your own research, keep your horizons broad, and don't waste your money on seminars.

 

[Papa G]

I worked in the industry a while back

They take enormous commissions

Build yourself if possible

Yep $20-$50k. Obscene. Don't be surprised when the bank values your property and shock horror, it's $20-$50k under value.

Govt turns a blind eye, cause you know property is great for the economy, great Australian dream and all that. Properties are sold on Tax deductions not actual capital growth (although these also tend to be wildly inflated). It's a house of cards. Absolute Cowboy industry.

 

[Deaneus!]

Yep $20-$50k. This is correct Obscene. Don't be surprised when the bank values your property and shock horror, it's $20-$50k under value.

Govt turns a blind eye, cause you know property is great for the economy, great Australian dream and all that. Properties are sold on Tax deductions not actual capital growth (although these also tend to be wildly inflated). It's a house of cards. Absolute Cowboy industry.

Yup, $20-$50K is about the standard.

Total cowboys. Had one well-known SA guy doing it with us, one of the most untrustworthy blokes I'd ever worked with. Stretched his luck too far one day and even his conveyancer, who had his own property empire and didn't need his business, sent an email to him and cc'd all the people that worked with him, saying come pick up your files, we're not working with you anymore, and listed a litany of reasons why - rude to his staff, unprofessional, etc.

Was great to read.

 

[rdhopkins2]

I'm going to attend a few for fun. Will let you know how it goes.

 

[Lyyynnnchy]

It's not that hard of a game

Buy in areas within walking distance to public transport

Buy where you can get to the closest CBD by catching one leg of transport or 2 at tops

Buy where there is gentrification going on or slated to begin (council website will list all the projects underway or coming up)

Buy near well respected schools

Buy within walking distance to decent shopping and or entertainment amenity, preferably a big centre or at least a Coles or Woolworths (more applicable to apartments)

Keep away from battle axe blocks

Keep away from oversupplied suburbs

Keep away from areas that rely on one industry to support the population

Etc...pretty self explanatory

 

[rdhopkins2]

It's not that hard of a game

Buy in areas within walking distance to public transport

Buy where you can get to the closest CBD by catching one leg of transport or 2 at tops

Buy where there is gentrification going on or slated to begin (council website will list all the projects underway or coming up)

Buy near well respected schools

Buy within walking distance to decent shopping and or entertainment amenity, preferably a big centre or at least a Coles or Woolworths (more applicable to apartments)

Keep away from battle axe blocks

Keep away from oversupplied suburbs

Keep away from areas that rely on one industry to support the population

Etc...pretty self explanatory

Agree with all you have said. Other than it's not that hard a game. I still think research is paramount to ensure you aren't overpaying or to ensure the developer is of decent quality. Many new areas are also prone to termites, so it pays to look out for that too.

 

[Lyyynnnchy]

Agree with all you have said. Other than it's not that hard a game. I still think research is paramount to ensure you aren't overpaying or to ensure the developer is of decent quality. Many new areas are also prone to termites, so it pays to look out for that too.

Of course research is paramount. You need to do research to answer all the above questions I listed. Much rather do it myself than assume someone has done it properly.

Termites, easy, do a building and pest inspection before buying or make your offer subject to

 

[Papa G]

The whole "you must buy new" to get all the depreciation and tax advantages I think is pretty disingenuous as well. What that means is that they usually sell you some "growth" area in some shithole outer suburb that is generally over supplied and won't make any capital gain for the next 10 plus years or a s**t box apartment where the running costs (body corporates, sinking funds) etc seem to magically double in the first 3 years.

Pretty much as Lyyynnchy said, you are generally better off the closer you are to the CBD or say the beach ie where people want to live. That's where the capital growth will come from. You can get good yield in shitholes of course, places like Elizabeth for example, you can buy housing trust dumps, but the rental yield can push 10% and the government is generally paying the rent.

 

[rdhopkins2]

Unless you want to flip property, I think it's fair to say that most people consider property to be a long term investment.

Unless you're a tradie, I wouldn't recommend the buy, renovate & sell strategy either. It's usually more expensive than you think to do the reno's, add on to that your stamp duty and legals and it's tough to make a quick profit on the sale. People can do it, but they are few and far between.

 

[Perth gal]

Unless you want to flip property, I think it's fair to say that most people consider property to be a long term investment.

Unless you're a tradie, I wouldn't recommend the buy, renovate & sell strategy either. It's usually more expensive than you think to do the reno's, add on to that your stamp duty and legals and it's tough to make a quick profit on the sale. People can do it, but they are few and far between.

My sister bought property for 400 grand. Did a few basic renos, sold for 685 in two years.

 

[Lyyynnnchy]

My sister bought property for 400 grand. Did a few basic renos, sold for 685 in two years.

Can't really tell much with that. Most properties in Sydney and Melbourne have had the same growth without improvements.

Little tongue in cheek but it can very much apply

 

[Pykie]

I flip houses, it certainly can be done. You still need to buy in +growth area's as it mitigates risk.

Stamp Duty is what restricts it from being a viable big market like the US.

 

[Jammer]

Some good advice here for you RD.

I have done a few real estate seminars and the odd course when I was younger. What the guys say here is pretty much spot
on. Save yourself plenty of $. Buy some good books. Research the hell out of the areas you are interested and then if comfortable
go for it.

( In saying that I did James Dawson's commercial real estate course as I wanted to invest in this area, needed more knowledge and ongoing access
not cheap but the best I have done )

One thing I will say that when I look back at the deals I've done that worked/had a good win on..... the one thing in common with them all
was..... I bought them all before they hit the market.
This involved building good relationships with about 8 agents. Constantly keeping in touch with them. Knowing the area, market well then pulling
the trigger quickly and making the offer as attractive to owner as possible.... No conditions, 30 day settlement

 

[rdhopkins2]

Some good advice here for you RD.

I have done a few real estate seminars and the odd course when I was younger. What the guys say here is pretty much spot
on. Save yourself plenty of $. Buy some good books. Research the hell out of the areas you are interested and then if comfortable
go for it.

( In saying that I did James Dawson's commercial real estate course as I wanted to invest in this area, needed more knowledge and ongoing access
not cheap but the best I have done )

One thing I will say that when I look back at the deals I've done that worked/had a good win on..... the one thing in common with them all
was..... I bought them all before they hit the market.
This involved building good relationships with about 8 agents. Constantly keeping in touch with them. Knowing the area, market well then pulling
the trigger quickly and making the offer as attractive to owner as possible.... No conditions, 30 day settlement

What property investment books do you recommend?

 

[rdhopkins2]

Been a few months and another round of seminars is out there.

Anyone interested in attending a few free ones and getting together after to discuss thoughts?

 

[Zubat]

I have a few books by Michael Yardney at home, I always planned to read them properly but have misplaced them. He's one of those people who does talks etc, but I have not attended. He is more aimed at the seasoned investor and always recommends buying already expensive properties in areas that will always continue to go up in value and would probably suggest using his company Metropole to help you find an "investment grade" property to purchase (they are a buyers agent company). He's also very against any spruikers who encourage you to get off the plan properties.

I'd probably stick to Australian books like his over foreign books, as markets are very different country to country, state to state.

 

[bombersfan4000]

Anyone attended any property investment seminars recently?

What company hosted it?
Was it educational?
Did you find it useful?
Was it a hard sell?
Did you follow up with the company?

If you purchased property, how are your feelings about your purchase?

Ive obeen to a few & have several investment properties, the seminars designed to have people caught up in the emotion wowed by these figures and buy property through the investment company.

In saying that I find it useful to attend one every now and then, for any new info or tips. Your own research is still the best form of knowledge building

 

[The Edukator]

I have a few books by Michael Yardney at home, I always planned to read them properly but have misplaced them. He's one of those people who does talks etc, but I have not attended. He is more aimed at the seasoned investor and always recommends buying already expensive properties in areas that will always continue to go up in value and would probably suggest using his company Metropole to help you find an "investment grade" property to purchase (they are a buyers agent company). He's also very against any spruikers who encourage you to get off the plan properties.

I'd probably stick to Australian books like his over foreign books, as markets are very different country to country, state to state.

I read his books years ago and then asked if I could do work experience at there. needless to say they were very accommodating

this was circa 2013 and I guarantee you that the areas they were pushing back then have gone from strength to strength.

I also went to one if his seminars some time after and it was decent. there was a push to use there services obviously but it wasn't in your face and the information they presented was pretty good anyway.

 

[rdhopkins2]

Has anyone had any experience with any of these companies?

Infinite Wealth

Positive Real Estate

Open Corp

 

[The BIG X]

No - I havn't rdh2 - what's more I would be very wary of them and any other same type in the industry.

Reckon you are clever enough to do your own buying

 

[Gene Simmons]

I attended an information evening with Custodian Wealth Builders and had a subsequent 1 on 1 appointment... Bottom line is they do present themselves as a "hassle free, 1 stop shop", but you will save yourself a bucket load of $ by doing it yourself...

I have since come across this forum at www.propertychat.com.au which is very insightful!!!

 

[The Edukator]

I attended an information evening with Custodian Wealth Builders and had a subsequent 1 on 1 appointment... Bottom line is they do present themselves as a "hassle free, 1 stop shop", but you will save yourself a bucket load of $ by doing it yourself...

I have since come across this forum at www.propertychat.com.au which is very insightful!!!

Ssh mate. Don't let this cat out of the bag! There's so much gold in there people won't know what to do with it!

 

[maryjames]

I’ve bought properties over the years. Forget the senimars. Right now purchase in Geelong district for investment. The place is undervalued.