"Positive real estate " anyone have any experience with them ?

Hi everyone
I attended a seminar that was hosted by " positive real estate" down here in Hobart
The person that is delegated to Tas said that they could enable us to buy into the Melbourne market( we want an older flat in a good location that in not too $$ , Box hill , Brunswick etc ) a lot quicker by refinancing etc
At the moment we Own our own Home ( Old Beach ) have an IP house in New Town (Hobart) and a very well located 2 brm unit in Sandy Bay. about to do a renovation on the Sbay unit in Feb.
They charge 9500 for lifetime mentoring or "special xmas offer" 7400 for lifetime !
a penny for your thoughts.
Troy

 

First question.... how long has Melb been booming? Are you buying close to peak.... easiest way to lose money.

Company? Yes I have heard of them, would not use them

 

What do you get for your mentoring? One on one time, seminars selling you things, email only broadcasts etc etc

I would dare say you can learn a lot on forums like these without spending $9500 on a mentoring package

 

I was very interested by the lifetime mentoring program plus the opportunity to network with other investors.

I saved 10k by finding all this on property chat and going to the sydney meet ups. Better mentors here too, I reckon.

 

Do they sell property as well as mentoring?

 

Save yourself $7,400 and just do your own research on here and on the internet as well and networking with others on here. I am all for mentoring (and have done plenty of all kinds) when it's for more specialized areas of investing but with what your looking for I really don't think you need to waste the money.

 

Looking for good long term 10 -15 yrs capital growth and Melbourne definitely has the population growth and future demand for housing. Perth i am not so sure about and has high vacancy.

 

Thanks Leo

 

Hey @Tassie_Troy you won't get your older style unit with these guys they are not a buyers agency. They on sell developers leftovers at a massive mark up, I have been to a couple of their events just to keep my mind sharp.

Your on the right track by the sounds of your story this could end up being a step backwards. Plenty of info on here about them so just do a bit more searching.

 

I went to one of their seminars in 2008 in Sydney. They virtually ignored me and kept running around all over the yong couples. There was another lady there who was treated the same. I filled out the form saying I had a LOC of $400K. NO-ONE rang me. I was really srprised. I thought I'd get a call the next day after they read that I had money ready to go. Then a month later they called my husband (many times) who kept telling them to ring me as I filled out the forms and knew all about it. In the end he said- are you guys stupid, she has money ready to buy something. They then rang me but I had moved on by then.
Anyway years later I got invited to another workshop. I went out of cruriosity. They were franchised then. The young guys running it had no more experience than me. So check who is running the branch. I did meet some people that were happy with the service.

 

Thanks Tom - not a fan of off the plan not enough scarcity and high strata
besides our PPR have these 2 so far
10/7 View Street, Sandy Bay, Tas 7005 - Property Details

Sold Price for 1/327 Park Street New Town TAS 7008
both are in high income areas 3 km from CBD

Troy

 

Had this place pop up on my Facebook as doing presentations currently.

Is it worth going to see what they are up to?

One issue concerns me however... read below screenshots and you will see.

There is one conversation on their page where it appears they have deleted comments addressed to someone (the comments still exist, just not the initial post), and then claimed they do not delete comments to another user.

Seems a little... concerning.

Has anyone found they remove comments that question the company, as it does deter me somewhat from signing up to one of their events.

 

Hi Troy
I have had a terrible experience with positive real estate and I would suggest to avoid them at all costs. Reason being is because they are in bed with developers where they will sell you property direct off the plan and in so called "blue chip" areas. They give bad advice and will get their sales people to call you constantly trying to sell you more property in order to access your savings and will sell the spin of negative gearing and high yield in an area where high yield does not exist. I can honestly say that this happened to myself where I am still paying for their bad advice. I have considered taking legal action against them however determined that the legal costs will out weigh the loss that I have already made because of their advice. I know numerous people that are in the same boat as me due to their bad hand. Also their so called $10k mentoring program is a joke. They did not assist us when we were in trouble due to a housing market collapse in Gladstone. They will not help in areas where you actually do want to buy. Instead they will steer you in areas where they want you to buy and preferably with a developer of their choice. They operate in the lower end of the market where their whole ethos around wealth creation through property is flawed.
I hope this info finds you well. To be honest, I would do you own research and train yourself up on this stuff before going to an agent like positive real estate. They're all sharks so look after your money.

 

I bought 5 properties from PRE and am extremely disappointed. I agree with many of the comments above including geoffro; they have an inherent conflict of interest as mentors as they are out to sell properties and make enormous money out of this. They often sell low grade house and land packages and off-the-plan apartments at inflated prices in areas that are never going to make serious money. Unfortunately I was too trusting and allowed them to persuade me to direct my property goals.
I'm monumentally upset about this and forever regretful as I'm in my late 50's and it feels too late to redirect my strategy and undo the damage. Interestingly, my mentor left the company after I had made the purchases confiding to me that the company no longer had the clients interests at heart but was fixated on making as much money as possible.
My advice is to steer clear of PRE and do your own research. There is a wealth of information available these days in magazines and online. Or if you do want to pay for a mentor, find one that isn't trying to sell you anything. I wish someone had given me this advice before signing up to PRE.

 

Totally agree with so much of this. I feel your pain Geoffro.