Any reviews on Buyers Club?

Hey all,

Planning to buy an investment property outside Sydney (considering Brisbane at the moment) and had a few chats with the guys from Buyers Club - Property Investment Companies Sydney | Buying Investment Property Sydney.


Apart from this post I found, anyone else had a chat with them or hired their services? I just want to be safe as it will be a considerable investment .

Thanks for the help,

 

Are they recommending new House and Land or existing houses?
What did you take away from the other thread you found? It's pretty recent.

 

Hey @Jose Julio ,

We've been talking for a while. They are recommending both - Existing houses and H&L packages. I'd say 80% H&L and 20% existing properties.

I haven't sad no to H&L packages tho. But I feel that is way more easier to get ripped off on H&L packages deals than existing properties. On the existing properties I can do my DD better. H&L packages, by default, the prices are already inflated.

What I took away from the thread is: Always do my DD based on recent sold prices and for the properties that are offered cashback (new or H&L packages), I should take off (at least) 20k-30k of the price as it will be inflated already by the cashback (and probably other commissions as well).

I used to like the H&L cause of the depreciation and building costs (depreciated) over time. But I don't want to overpay too much in order to have that "benefit". I don't like paying $1 to receive .40c.

What's your opinion?

 

At least they disclose their kickbacks - Linky

 

haha 'variable per property purchase' - wouldn't call that disclosing anything.

 

Don't buy a brand new H&L in SE QLD is my own opinion, different strategies for different people though.
Building brand new property just for the depreciation and neg gearing benefits is not something I personally would ever do. Those kind of purchases can severely impact your ability to grow a property portfolio in my experience. Maybe they're ok for someone paying a lot of tax, not sure.

I would ask myself this of any company like this one and this does not relate specifically to the company mentioned by the OP -
What do they offer you that you cannot do independently?

 

I totally agree with you. Thanks for your suggestion. Too expensive and overpriced. It will take years till the purchase price hits the market value.

Well, right now just facing a first home situation crises. I would expect them to point where the good suburbs (positive cashflow and capital growth) are and check their listing properties and do my research on top of them to see if they are a good deals (and try not to be ripped off haha).

I'm kinda of facing first home purchase crises as well. Not sure where I'll be better off to start. In between:

- Investment - Finding a positive cashflow ( > 6%), rental yield (> 6%) + capital growth (> 6%) being duplex or free standing house in QLD as a IP;
- Living in - Using my FHOG benefits (stamp duty and good interest rate) in Sydney. Buying an apartment (existing or new) and leave my place where I'm currently living in (650 weekly rent) and live there for a while. More likely to increase in value overtime, however, cashflow negative - but if I live there, the cashflow shouldn't matter in a short term.

Very unsure at the moment,

 

Personally think that if you are looking for an ‘expert’ to get you certain 6% yield and 6% growth, you are kidding yourself and will get ganked by spruikers.

 

It's quite common to be unsure.
May I suggest you revisit or have a think about what your investment goals are for the next 5, 10 and 15 years - when you know the end goal is, it makes it easier to decide what option suits you best

 

Samara and most of the team have previously worked at Dream Design Property (DDP), ill let you do your own research on that!!!

 

Did anyone pay buyers club $15k upfront fee and ever get it returned ? Why doesn’t buyers club have a real rate licence ? Do you have to have a real estate licence to be a buyers consultant/agent ?


Dennis

 

Yes

 

Everything about their website screams to the the experienced investor, "Run a mile".

 

I just had a free info session with them on buying under SMSF. The guy said he can show me how to reduce tax by drafting a loan contract and lend it to my wife for her to super salary sacrifice, then I can claim a tax deduction to reduce my tax (on top of my own super salary sacrifice)? I am not entirely sure how that works. I can't find any similar info on it on ATO. Anyone knows if this is legit?