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property experts strike again

Discussion in 'Property Experts' started by Danmicb, 14th Jul, 2016.

  1. Danmicb

    Danmicb Active Member

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    People jump on a bandwagon, don't do any of their own research and DD, believe that they are the anomaly when it comes to getting rich quick, expose themselves to ++ risk, then look for scalps when their poor investment choices don't pay off. Should these customers be seen as victims?

    No Cookies | Daily Telegraph

    No Cookies | Daily Telegraph
     
  2. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    These unsophisticated investors were essentially buying Off The Plan - and builders going bust mid-project is just one of a multitude of possible risks. :(

    I hope the "Club" made those risks clear to these families who, to give them their dues, were probably only trying to provide for their retirement or kids. I wonder if they got independent advice before jumping in?
     
    bob shovel likes this.
  3. wobbycarly

    wobbycarly Well-Known Member

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    Nearly got lured in by these guys many years ago. Using the name "club" makes it sound like a friendly group of people, but I think they are really nothing more than a (probably unlicensed) buyers agent - but working for themselves, not the buyer! Perhaps more like a marketing company.

    I think you gotta feel sorry (a little bit) for these people who got burned; from memory, the "club" doesn't promote get-rich-quick, but more slow and steady. Which property can be, but usually no with OTP. They got suckered... by a 'professional' scam. (IMO - YMMV)
     
  4. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    I think the property club must be the club formerly known as the investors club - I received a marketing call from them a few months ago.
     
    Brisbane04 likes this.
  5. Balman

    Balman Well-Known Member

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    I know of one such club in the northern suburbs of Perth which shut down its doors when TIC was exposed. The same mob are now running the same sort of business using a supposedly a mentoring service selling properties that they have specifically sourced ' obviously getting kickbacks'. Its amazing how many people buy into the trust of such cons.
     
  6. melbournian

    melbournian Well-Known Member

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    What they are doing is no different to just scoping around for land, sourcing the cheapest builder etc and getting things done. This is where the margins are to be made for the investors.

    Money isn't easily made by following the herds, you have to be on the ground to see and look and feel for yourself.
     
  7. Danmicb

    Danmicb Active Member

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    @melbournian thats what I mean. They are developing through methods that they have decided employ. What I'm saying is where is the DD and risk minimisation of these so called victims. People will believe anything in the hope of becoming a millionaire with little or no effort. People like to quickly claim responsibility when their investments succeed (even when through dumb luck), however conversely try and blame someone else if it fails. Obviously it failed. Reading the mission statement and product description of this company really did make me LOL.
     
  8. Azazel

    Azazel Well-Known Member

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    Not everyone is going to make money.
    Not pleasant, but that's reality.
     
  9. BigAl

    BigAl New Member

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    Appeared in the media again recently.

    No Cookies | Daily Telegraph

    Knowing Kevin Young he'll be now threatening all involved with legal action unless they retract their comments. Can't say that any of his comments are believable. He has spent a lot of time recently threatening his critics with defamation. Anyone who has stood their ground though, soon discover he is all puff and wind.
     
  10. Azazel

    Azazel Well-Known Member

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    Should we expect him to come and complain about this post?
     
  11. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    His lawyers will probably just send a letter.
     
  12. mcored

    mcored Active Member

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    New readers, just be mindful this is not the same as Australian Property Club where Stephen Zamykal is the owner who is renowned for his book The Investment Property Plan.
     
  13. bob shovel

    bob shovel Well-Known Member

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    Nb is getting into this arena now isn't he? Anyone looked into that? Saw a youtube vid
    He's buying land in rivo (riverstone for those with teeth) at a discount for clients then building. Has he just put a new spin on this? Buy land pre boom, sell at x% less than boom prices to sound attractive and get a cut off the build ;) is that the plan?
     
  14. Big Will

    Big Will Well-Known Member

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    I saw that same video, didn't do any research into the area.

    Not part of my strategy and the numbers seemed crazy he is predicting...