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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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  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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  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
    RJS likes this.
  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.
     
    Luke T and melbournian like this.
  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
     
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  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. 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.
     
  13. 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
  14. Set81

    Set81 Active Member Premium Member

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    I went to a free consultation about a year and a bit ago , the consultant kept saying I'll get us the boardroom which he did , had fininacial channel running in the background seemed like a bit of a sell from the start , at the end I said I'll consider it and won't sign anything today , he said just sign it , I said if I'm interested I'll sign it and send it back to you , he said I don't like the mail and I can't fax it so just sign it and I'll put it to the side , I said I'm not signing today full stop , he kept saying why not what are you concerned about , I just said I'll think it over and get back to you , so he changed the subject to what I was doing on the weekend and said he might do that too and slid the form across the table and said just sign there mate , was pretty funny to watch him try so hard especially since he told me he makes $500K as a consultant , " tell ya boss to F off money " he called it ,
    I decided not to go ahead
     
  15. Travelbug

    Travelbug Well-Known Member

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    I'm not rubbishing Zaki or his team. I met Zaki in 2009 and he was just starting (as was I). He may have had 1 property then. He seems young to me. I thought he was 30? That's young. 10 years is not even one cycle. I can't comment on his staff.
    But as I said there are lots of people professing themselves to be experts, and it;'s not hard to do if you can read. All the info is out there. There was one guy on Somersoft that was asking beginner questions and one year later wrote a book and said he was retired. Turns out he was on the dole. LOL
    I've got nothing against BA's. Nathan Birch was instrumental in getting me started (and I know he got Zaki going too).
    Don't believe everything you read/hear.
     
  16. Ash

    Ash Well-Known Member

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    I agree with almost all the comments about DDP .... in fact after my first meeting DDP consultant called me a week later to check if I am interested in signing up and I said I am going to bank to get some work done and the consultant said " he is around and he can also meet me at bank with papers " ... what rubbish

    I also spoke to guys at The Property Mentors ... mentioned in the post earlier. The person who called me sound very systematic but after 2 -3 calls he sound too BOSSY and ordering me why I am not interested in investing with them .. they will scare u with last day offers .. now or never .. which is not the case in RE.... so guess problem was with person rather than company but in DDP it's the company

    BUT I must admit i have seen some good investment strategies with them
     
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  17. BeefEater

    BeefEater Active Member

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    Wow $14900. In 2013/2014 it was $9000 or $9900, I can't remember.

    If you have evidence clearly stating that they would be able to find you properties in Melbourne but then couldn't deliver this, then you could rescind the contract and get a refund based on misleading and deceptive behaviour, under the ACL.

    I would suggest you write a formal letter to DDP requesting a full refund within 14 days or you will refer to your solicitor. Chances are they will then get their lawyers involved and will refund the money but will most likely request you to sign a Non Disclosure Agreement. But you should be able to get your money back.
     
    Last edited: 22nd Jul, 2016
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  18. Ash

    Ash Well-Known Member

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    May be complain with NSW Fair Trading .. .. people should not fall into these fake promises .. :)
     
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  19. artemis

    artemis New Member

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  20. LNVic

    LNVic Member

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    Sorry all, new here! You put your $15K in to find/manage a new build buy and you get $30K cash back. Now you've got an investment property in an area 'researched' for capital growth over 7-10 and neutral/positive geared (used equity in existing IP for the new build). No outlay except for the $15K, which they give back to me. Outside of being too good to be true, what am I missing?! Much appreciated!