Distressed Property

Discussion in 'Investment Strategy' started by In-sight-ful, 18th Oct, 2017.

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Would you buy a distressed property?

  1. Yes

    29 vote(s)
    93.5%
  2. No

    2 vote(s)
    6.5%
  1. In-sight-ful

    In-sight-ful Member

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    Melbourne
    @bob shovel By RE apps, do you mean the real estate app or anything else?
     
  2. Marg4000

    Marg4000 Well-Known Member

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    Qld
    My daughter had followed the property on the internet but at first discounted it as it was well above her budget. The significant price reduction and time frame was forced by divorce proceedings. My daughter had a rapport with the RE agent who helped her a lot.

    Not sure of the other case.
    Marg
     
  3. WattleIdo

    WattleIdo midas touch

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    @In-sight-ful :) You did the course - how 'bout you share a few secrets with the forum?
     
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  4. In-sight-ful

    In-sight-ful Member

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    @WattleIdo I didnt do the course. Was there for the free 2 hour introduction seminar. The course was packaged at $10K. Didnt find it worth that amount
     
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  5. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Well it would be worth that amount if it saved you $10k on a house.
    However back to your question. I believe court lists are public information and are searchable.
    I don't follow the DG strategy as I develop properties but it is a full on process and there is a lot of work to attain the one yes from a sea of nos. You need to have a thick skin to wade through all the many rejections to find that one person who will say yes to you buying them out.
     
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  6. WattleIdo

    WattleIdo midas touch

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    Riverina NSW
    I think you're right. The kind of person who can spot a bargain and then go ahead with it won't get much out of a packaged sales pitch. :cool:
     
  7. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    BTW I'm not advocating that it's a good idea to do the course or that it's worth $10k but you seem to like the strategy but don't know enough about it to carry it out yet.
    It is mainly geared to doing multiple distressed buy outs and keep doing it as a strategy. If you just want to find one property and put that in your portfolio then the hints and guidance given are the things that we all use to try and find that gem in the rough.
     
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  8. Saw Myint

    Saw Myint New Member

    Joined:
    8th Nov, 2017
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    1
    Location:
    carlton NSW 2218
    Hi All,
    I have been Dominique student since May this year 2017.
    with the RE rescue course, which she charge around $5,000, she taught us how to find distressed properties all over australia and strategies to deals with the owners once you find them.
    if you become her mentoring student after the course then, she charge around $30,000 per year for the first year if you pay by installments. But she give you access to those properties all over Australia and also a couch. You get off market list twice a week and on market list once a week. There are too many NEW properties in every states every week.
    Strategy itself works but whether it works for you or not depends on whether this suits you.
    Cheers,
    Saw
     
    Last edited by a moderator: 8th Nov, 2017
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  9. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Location:
    Perth
    Hi @Saw Myint how are finding it putting your course into practise??

    Did you just do the course or mentoring too?
     
  10. TheOne

    TheOne Member

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    16th Oct, 2017
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    17
    Location:
    Sydney
    Hi @Saw Myint

    For $30,000 per year, what does she do in the mentoring other than the lists and access to those properties? I was told accessing the properties database costs $5000(Excuse me, I may remember the amount incorrectly.) per six months. I like to know how good her mentoring and coaching are.