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Discussion in 'Property Experts' started by larrylarry, 26th Aug, 2015.

  1. Travelbug

    Travelbug Well-Known Member

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    The problem with a lot of these "experts" is that they have only been around a short time. Zaki is a nice guy but hasn't even seen one property cycle.
    When you start investing in 2009 and ride the boom of course you'll make money. It doesn't mean you know how property cycles work or what to do in a downturn.
    When using BA's and the like research how long they have been around and who their team is. They target young ones because they see these young guns and think "wow they did it, so can I". I have seen quite a few young guys that started not that many years ago writing books, setting up companies etc. it's a bit scary that people hand over thousands of dollars to them.
     
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  2. benvolio

    benvolio Member

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    alot of these companies wont be around in a few years. the last 3 years have been crazy. its all FOMO.
     
    Travelbug likes this.
  3. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Plus good luck getting any equity out at 95% lend.
     
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  4. Azazel

    Azazel Well-Known Member

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    What happens with that when the IP increases in value Jess?
     
  5. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    It'll need to increase significantly, and you may be able to get equity to 90% with the right lender and good servicing.

    Even getting a investment loan for 95% in the first place is not easy.
     
  6. Jennifer Duke

    Jennifer Duke Well-Known Member

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    Their PR team is pushing them pretty strongly out to journalists. I haven't had much to do with them and am always wary of new experts when I don't have recommendations from other people I deal with, so haven't used them in any media. But I haven't heard about anything specifically untoward with them either.
     
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  7. Azazel

    Azazel Well-Known Member

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    Doesn't seem like a great strategy does it.
     
  8. melbournian

    melbournian Well-Known Member

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    that is very true. many ppl start to promote themselves as experts after making some equity gains and having seminars, selling cashflow strategies, making claims when it is just riding the waves of a boom when really anybody who bought anything would have made gains during that period of time. I prefer learning and brainstorming from experts who actually been making gains during the downturn of the cycle through building, renovation, sub division, reinvesting, understanding suburbs demographics etc. When there are fees charged for these services, the interest and objective of the person provding the service is different as there is a vested interest for the numbers to work for them.
     
    Last edited: 7th Jun, 2016
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  9. Big Will

    Big Will Well-Known Member

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    I didn't spend much time before however you are close but I wouldn't say it is even 20k equity.

    410k (purchase) + 15-20k Stamp (depending on state, assuming you are borrowing) + 30k reno = 455k-460k (depending on state)

    Add in mortgage repayments whilst reno is being done (assuming 95% LVR and at 4.9% and for 2-3 months) another ~5k so total holding cost is more like 460-465k.

    IF you got a valuation (remember banks are conservative) of 465k you still have zero equity to use.

    In some ways you might of been better off not renovating and using that 30k to purchase another one.
     
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  10. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Looks like these guys are experiencing significant growth - they are currently hiring for 10 sales rep positions
     
  11. Big Will

    Big Will Well-Known Member

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    I don't know where you got that from.

    I did however look at their team, always makes me question when you have nearly a one stop shop.

    PROPERTY SERVICES
    Initial Consultation (BDM?)
    Property Investment (Fin Planner?)
    Strategy Finance Broker (MB?)
    Property Search Service (Research?)
    Buyers Agent (BA)
    Investment Property Reports (Accountant?)
    Conveyancing (Conveyancer)
    Renovations (Builder)
    Property Management Services (PM)
    First Home Buyers Process (Fin Planner?)

    Looking at the roles of people they are (outside of usual GM, CFO, HR, BDM etc).
    Property Acquisition Manager
    Discovery Team
    Finance (MB)
    Property Management
    Conveyancing
    Financial Protection
    Depreciation
    Reno Builder
    Partnership & Client Experience

    Having a one stop shop has it +/- but if something was to go wrong with one part of the business would the other parts try and defend it?

    Myself personally I prefer to have them all separately that way if someone tells you something you can ask the other their thoughts. If they both end up with the same answer you can feel a bit more confident with what someone is proposing. Which it is unlikely the people within the same business will have conflicting views.
     
  12. Emma30

    Emma30 New Member

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    It's working for me and I already have a portfolio prior to this. I think its an individual approach god people can be critical... There strategists and everyones situations are different. well worth a free consultation how are you to know otherwise.
     
  13. Emma30

    Emma30 New Member

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  14. Emma30

    Emma30 New Member

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    What does marketing have to do with the service? Ive overall been happy, have you had a personal experience with them to make these negative comments I'm keen to know as Ive signed up hahaha cheers Big Will. Did you have a consolation - Just trying to validate you comments.
     
  15. Big Will

    Big Will Well-Known Member

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    Hi Emma,

    You may need to read the first two words of my post or 'Never used'... However if you need me to go further I have never used DDP before and I wouldn't consider using DDP personally. Remember each person is different...

    I don't find my comments negative more my thoughts, reasons for my thoughts?

    1. It appears to me they want the 'buy now', 'as seen on tv', 'featured here', there are more tactful ways of doing this.

    2. The word free is mentioned 6x on the first page, again why so many times? In my short life I have learnt that nothing is free.

    3. Like @House did with calculations it doesn't add up.

    4. Why are they targeting First Home buyers/young people/inexperienced people so heavily? I am 30 years old myself and I hardly know everything, but this turns me off as I am thinking they want inexperienced people.

    Now compare to The Property Mentors - The real reasons you need us has nothing to do with real estate, please note I have not used these guys either and also personally wouldn't use them (I am confident with my strategy and my mentor).

    Yes the word 'Free' is mentioned 2x but it is Free resource (no need to give details just download it).

    Note my thoughts are not in isolation here and there are a number of very experienced investors and people who work in the property market (e.g. mortgage brokers) who have posted similar thoughts to myself.

    I personally wouldn't use either of them but would love if you can post your feedback on how the service went with DDP.
     
  16. silverman47

    silverman47 Member

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    This entity does not hold a corporate real estate license anywhere in Australia. I don't believe any of their staff hold any individual licences either. A "true" buyers agency works solely for the buyer and is required to hold both of these. This protects the buyers interest ie. they need to be transparent and can't receive any kick backs. I can only assume they are a marketing company.
     
  17. Emma30

    Emma30 New Member

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    Hello Travel Bug. Zaki is the one who wrote the book he's not young and I dont believe team are looking to hahaha... His team have been in property for over 11 years (Or heads of department...) That's enough to see 1 cycle and then work with industry insiders whom have seen over 20years of property marketplace... Not only that - All his staff have property portfolios themselves.... Whomever hand over money are doing it because they trust the service as I did and so far with an exisiting portfolio have been the same strategies I would implement being used with DDP. I would most likely do it again. Its about facilitating a service and doing it to the best of the ability.. be it 1st time investors and or time poor investors. Anyways - We are all allowed opinion I appreciate yours. Cheers...
     
  18. Ryan Cosco

    Ryan Cosco New Member

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    What a Rant! Blatent defamation... Be careful mate.
     
  19. Lacrim

    Lacrim Well-Known Member

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    What these experts NEVER do, is tell you where and what they've bought - because more often than not, they either aren't fantastic buys or the stated market vals are somewhat inflated. Open scrutiny isn't a good thing if numbers you're purporting aren't spot on.
     
    Last edited: 28th Jun, 2016
  20. Big Will

    Big Will Well-Known Member

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    Defamation is when someone spreads false rumours about you and as a result hurts your reputation

    So are you now accusing BeefEater experience is false? Please enlighten me how you can accuse them of it being untrue.

    If you can not prove that his story is untrue I guess he could sue you for defamation as your claim was untrue...
     
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