Hi All, OK, so I know I need some help on the IP Strategy and Buying process and would like to know the thoughts of those on the forum on the following organisations: - OpenCorp - AllicanceCorp - Empower - Metropole - Pure Property Investment - Right Property Group Hope you guys can help - Thanks
Are you looking for someone to hold your hand in buying IPs and don't mind paying a premium for it? And adopting their financial plan for you? Do you consider yourself taking a passive or active role in property investment? Why property?
Sorry - pretty new to the whole things and have been talking to these guys for a long term strategy i.e. capital growth vs rental yield, new vs old, property type and locations. Also need them to research, find and buy the property as I am time poor and don't have the knowledge especially for options in other states. Was hoping that people that have dealt with any of these companies could give me some insight as to their experience with them Thanks
I have used the services of Right Property Group to purchase IPs. What struck me when I first went to one of their monthly meetings, a few years back, was that there were quite a few people in the room with multiple portfolios - 1 person with 5, another with 8, one with 12, another with 16. After building my portfolio, I continue to go to their meeting each month - you can always learn something. I would suggest to visit some of the seminars/sessions that each company hold, and speak to some of their clients. A lot of people like to invest on their own, which has merit, but if you are time poor, lack the knowledge or just want to build a portfolio quickly - a buyers agent can be very beneficial.... it's like a sports team having support staff. Nowadays, there seem to be more support staff then players...
I personally would avoid those who offer a "one stop shop" ie. Finance, renovation, off the plan, etc. I've used a Buyers Agents in the past. I've found them to be better value. Alan @Propertunity and my friend has used @Jacque very recently.
Yes, and have family and friends that have followed my path. If you go to their website, you will see the details of their next meeting in August.
I agree, the one-stop shop can be fought with danger. Good to have independent/differing ideas, so that you can come up with an educated answer.
Even if you use a BA, you still need to do the DD yourself to understand why you are buying that property in that location for that price etc etc. While deciding on a BA, do plenty of research and reading into all things about owning an IP. There are a lot on here with quite large portfolios and all will agree that the purchase is only the first step.
Using one of those groups can be fine as long as you know what to look out for. For eg, a very well known and reputable investment group will x-coll all your loans - they are good at some areas of investment and poor at others. I would suggest perhaps chatting to them all about the strategy, and possibly let them help with the buying when you find one that 'fits', but get an independent, investment savvy broker and an independent solicitor to work with you, just to have a couple of non-involved eyes on the deal.
Certainly agree with @Jess Peletier . It's good to have independent services for the other aspects of purchasing. Good to talk to an independent broker first to understand borrowing and how to get, and keep, the finance right through the process. There are many threads about BAs in PC and Somersoft.
