Join Australia's most dynamic and respected property investment community

Opencorp

Discussion in 'Property Experts' started by pinewood, 6th Nov, 2015.

  1. pinewood

    pinewood Well-Known Member

    Joined:
    8th Jul, 2015
    Posts:
    94
    Location:
    Vic
    Does anyone have any experience with OPENCORP and their services?

    OpenCorp
     
  2. adrian_christian

    adrian_christian Well-Known Member

    Joined:
    27th Jul, 2015
    Posts:
    147
    Location:
    Mauritius
    There's an earlier thread in this forum about Open Wealth Creation. Same company. There's a H&L division, and a Funds Management division. The thread also has links to SS.
     
  3. House

    House Well-Known Member Premium Member

    Joined:
    13th Sep, 2015
    Posts:
    774
    Location:
    Sydney
  4. pinewood

    pinewood Well-Known Member

    Joined:
    8th Jul, 2015
    Posts:
    94
    Location:
    Vic
    Thanks @adrian_christian and @AlexH. That's very helpful. They have offered a free consult so I wanted to know what I had to be careful of. Thanks for the links.
     
  5. adrian_christian

    adrian_christian Well-Known Member

    Joined:
    27th Jul, 2015
    Posts:
    147
    Location:
    Mauritius
    I know some of the Directors socially, so difficult commenting professionally but I know they're not into the hard sell.

    The business was there to help friends and family on the property/wealth creation journeys, and have scaled it gradually over the last few years.
     
  6. S0805

    S0805 Well-Known Member

    Joined:
    3rd Jul, 2015
    Posts:
    333
    Location:
    VIC
    just finished reading old topics on them. Quite interesting & different views by SS members.

    would be interested to know how you go....
     
  7. House

    House Well-Known Member Premium Member

    Joined:
    13th Sep, 2015
    Posts:
    774
    Location:
    Sydney
    Just got this email from them

    Ricky Ponting is apparently worth $65m...
     
    pinewood likes this.
  8. pinewood

    pinewood Well-Known Member

    Joined:
    8th Jul, 2015
    Posts:
    94
    Location:
    Vic
  9. adrian_christian

    adrian_christian Well-Known Member

    Joined:
    27th Jul, 2015
    Posts:
    147
    Location:
    Mauritius
    You'll get a pretty good feel for them if you watch their WOD videos on YouTube
     
    Sonamic likes this.
  10. Jimmy D

    Jimmy D Active Member

    Joined:
    19th Nov, 2015
    Posts:
    25
    Location:
    Tas
    I have a IP through them. Built it 2 years ago. Highly recommend them, I will most likely contact them again for another.
     
    pinewood likes this.
  11. Coota9

    Coota9 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    971
    Location:
    Melbourne
    What area was it built in @Jimmy D ?
     
  12. Jimmy D

    Jimmy D Active Member

    Joined:
    19th Nov, 2015
    Posts:
    25
    Location:
    Tas
    Upper Kedron QLD
     
  13. S0805

    S0805 Well-Known Member

    Joined:
    3rd Jul, 2015
    Posts:
    333
    Location:
    VIC
    Jimmy D, are you involved in Crowd funding service with them as well?? I guess it will depend on what they are building but worth exploring....
     
  14. Jimmy D

    Jimmy D Active Member

    Joined:
    19th Nov, 2015
    Posts:
    25
    Location:
    Tas
    No I am not. Yeah it's definitely worth doing your own research into what they are developing.
     
  15. Late_Starter

    Late_Starter Member

    Joined:
    24th Jun, 2016
    Posts:
    14
    Location:
    Melbourne
    Hi @Jimmy D are you able advise how their pricing works? I spoke to someone over the phone and they said that you don't pay anything until you purchase something, but he said they would go through the costs during the consultation if I did one.
     
  16. Jimmy D

    Jimmy D Active Member

    Joined:
    19th Nov, 2015
    Posts:
    25
    Location:
    Tas
    Hi Late_Starter, Yes you pay a fee ( not sure if is % based) as part of the purchase. This fee also includes the depreciation schedule, rental guarantee and a number of other smaller things from memory. The good thing about the rental guarantee is that if the property isn't rented for any time in the first 12 months then they will pay you 80% of expected rent. Rent appraised by RE agent. The fee is also tax deductible. They are really good to deal with. My place wasn't rented for first month after build and all was sorted very easily.
     
    LoanSharkJR likes this.
  17. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,569
    Location:
    Melbourne, Australia
    As long as they don't build the rental guarantee into the price.. If it is 10k more and rent is 300 pw then you are looking at 33 weeks of paid up front rent (not including interest).
     
  18. John Ferguson

    John Ferguson Well-Known Member

    Joined:
    22nd May, 2016
    Posts:
    72
    Location:
    Hobart, Tasmania
    Glossy brochures, rental guarantees, let me guess they offer H&L packages in outer ring suburbs with plenty of land available selling the benefits of depreciation, negative gearing, the appeal of newly built homes etc. etc. I'm guessing they offer an advisory service saying how they specialise in property advice and wealth creation with no real qualifications or historical proof of their wealth creation success and of course where they invest there are plans for infrastructure, which will probably be years away if it happens at all.

    Open Corp and open wealth creation. So open wealth provide their clients with H&L packages developed by Open Corp. so they are selling you a a property from their stockist. Not sure how that could make a good investment. Will be years before any growth is achieved 90% of the time.

    Surely when investingfor long term CG you would like to see long term historical data
     
  19. Jimmy D

    Jimmy D Active Member

    Joined:
    19th Nov, 2015
    Posts:
    25
    Location:
    Tas
    The rent was quoted by the real estate at 500-550pw so made a difference. I compared sales price from them against other comparable sales in the area to gauge whether the price was acceptable.
     
  20. Jimmy D

    Jimmy D Active Member

    Joined:
    19th Nov, 2015
    Posts:
    25
    Location:
    Tas
    The house value is now +20% of purchase price since sign the contract late 2013...