Anyone used Property Education program by PK Gupta?

Yes. Unless the transaction happens BA doesn't get paid. I used BA twice. One was brilliant and the other wasn't great.
I used to ask people I trust (a few from this forum) to inspect a property for me, in their local area, for a small fee. Worked well.

 

@devank - great idea re paying a small fee for a trustworthy property person to inspect for you.
If anyone wants one done in Canberra I am happy to oblige. For a small fee of course

 

Good work.

Different strokes for different folks.

My contention with locals BA's is that they need you to buy in that local area for them to get paid, so there is bias, e.g. a Buyers Agent that only works in Brisbane will always say its a good time to buy in Brisbane, even when it's not.

On the flip side a national BA won't have deep local knowledge and may not inspect the houses themselves.

There's no perfect solution.

From a DIY perspective we stay objective and consider all of Australia in terms of location selection. And investors get the local knowledge from qualified local Property Managers with the right accreditations who are just as knowledgeable as local BA's and do this for free.

Just today one client had an offer accepted and the Property Manager reminded him of some housing commission nearby and the negative impact of that on potential rental demand for the property. He then backed out of the deal after corroborating with the data. Sometimes it's what you don't buy that's just as important as what you do buy!

 

Surely your short course suggests buyers jump onto Microburbs and get a feel for this? It’s not bullet proof, but a decent place to start for DIY investors. Same deal for conducting some simple
street based ownership analysis in core logic

A BA with good local buying expedience already has a strong understanding of the streets in a given Suburb, easily distinguishing between the good and the bad. - one of the many factors that will determine the future capital growth of a property.

Having to back out of a deal doesn’t bode well for the next interaction with this sales agent.

Knowledge is everywhere. You can google pretty much anything these days. But it’s the experience of knowing when and how to apply the knowledge that really makes the difference.

 

+1

 

But but ...I am sickle carrying socialist.

Socialimo or muerto I say ... that is today tomorrow I might be flying the facist flag.

 

Micro burbs is outdated, there are better ways to do due diligence.

Backing out of a deal, especially pre contract stage is not a big deal.

I agree there’s so much information out there. It creates analysis paralysis. Transforming information into actionable and practical steps and strategies is what is required. And leaning on someone with experience is a fastrack and invaluable, a friend, family member or professional mentor.

 

Just out of curiosity and with no other intention, do you mind sharing what proportion of the 600 members signed up for your course prior to COVID? Do you think it became slightly easier for investors to get convinced buying inter state remotely during the COVID period?

 

About 60% pre Covid. People who want to work with me almost always have the borderless mindset and want to avoid buying negatively geared property in Melbourne / Sydney due to its cashflow drain and negative impact on borrowing capacity.

 

You get a new client signing up for the course roughly every 4th day. That’s phenomenal by any standards!! Takes a lot to build that kind of trust and reputation. Hats off!!

 

Are you an existing member / associate who has signed up for the course by any chance? Just checking

 

Nope. It’s strange that you ask me this question. Just check my posts in this thread earlier.

I am finding reasons not to sign up for the course…lol…and I won’t… I can’t help but admire the man’s growth.

 

Just expanding on number 1) here - if a bunch/group of investors are all targeting the same market at the same time - could this perhaps lead to unexpected results (i.e. underperforming when the data indicated better performance?) or inadvertently leading to artificially inflating the target market past the original analysed intrinsic value?

Herd Instinct

 

We’re just a few fish in the sea relatively speaking. Also there’s are dozens and dozens of suburbs we target at any one time. Also each client may have a different strategy which spreads them across different suburbs, i.e. budget, yield, value add potential, risk tolerance etc

 

Hope it's PK responding to these posts and not a bot....just joking! Always super quick with replies be it here or on FB, YT....

 

I cannot agree more. Reading for a while, registered reasonably soon. I still cannot believe what amount of valuable information is available in the forum. Thank you all for sharing!

 

Exactly what I did on my first property haha
Haven't done the solicitor since (too ceebs to deal with it
BnP - sometimes wonder why I bother (I havent really bought a grade dwellings)

 

Are you saying when you buy properties you don't engage legal advice and building and pest for houses?

 

First time I didn't - Yea sounds pretty stupid

Auction conditions - loved the location and the house was falling down. Went all smoothly (was very rigid terms and no one really played around during settlement)

Since then always used a solicitor (more out of couldn't be bothered dealing with the day to day side)

BnP when not buying land/auction/extremely rundown dwellings but even then its always come through as expected (never perfect)

Note: I do/did have somewhat of a legal background (what feels like a lifetime ago)

 

On the fence about the course as well and would definitely like to hear a response from PK around this question.