Real Estate Investar - Premium Membership

Hi,

Just wondering if anyone had any experience with Real Estate Investar's 'Premium Membership'?

Last night I watched a subdivision webinar they did where it was discussed that within their $4995 'premium membership' they will basically help you acquire a suitable property, and walk you through the whole subdivision process. Their Website suggests premium membership includes:

- Assess current position
- Review finance and structure
- Create property acquisition plan
- Complete research and due diligence
- Property acquisition
- Ongoing property review

Seems unbelievably cheap if comparing to a BA's who charge ~$10k and don't manage the subdivision process after acquisition. Obviously they offer a slightly different service.

Thought it might be a good way to learn the subdivision process but think I must be missing something for this price.

I spoke to them briefly on the phone today and they are 'borderless' and mentioned they could assist in the process in Hobart where I am based (provided the numbers work).

Interested to hear peoples thoughts/experiences/suggestions.

Robbo

 

@Foxdan, seems no one is interested in this topic! Do you have any experience with RE Investar?

 

Robbo

What are you trying to achieve from this tool??

They may help with the subdivision process, but most important factor when developing is where/what you buy, what you build, market conditions at the time of buying.. they wont have all the answers?

I know this group also provides stats, which is fine but that wont necessarily give you the true picture on what is happening, you just cant rely on stats alone to get it right.

Not trying to be negative, but there are many ways to learn that wont cost you anything except your time, and sometimes it could be as simple as phoning councils, re agents, builders for costings per sqm, reading many posts on forums etc..

Its also about asking the right questions? but you learn what the critical questions are as you go along and it takes time, persistence and patience.

I guess just trying to point out that regardless whether you use a BA, this group etc. it wont necessarily be the answer.

Have I used this group no? but I have viewed many different stats they produce.
Probably the only stats that would interest me would be the sold property stats, most recent.

MTR

 

Hi @MTR,

Thanks for your reply.

This is exactly where I'm stuck! I lack patience and really want to get moving but don't feel I have even close to enough knowledge to start. I totally agree that RE Investar wont have all the answers but I am just researching a number of people/companies/DCP's that may be able to point me in the right direction. My next step is to touch base with one/multiple town planners to gauge generally subdivision costs in the local councils, whether they are working with many clients making money subdividing/developing, and crystallize exactly what is required to profit in Tassie (If it is possible ATM).

In an ideal world I will find a 'mentor' that has been there and done it and will be able to assist answer questions when needed, however, in Hobart someone like that has been impossible to find.

What do you believe are the 'right questions'? This could really help when speaking to planners.

Thanks for your post, I appreciate no BS!

Robbo

 

To offer a slightly different way to go about it, most of the brokers here will do the first 3 steps for free.

I would always suggest using an independent broker and lawyer for your deals - it helps to have a couple of different sets of eyes run over the deal to make sure you're not paying above the odds. Not saying this group are dodgy at all, just common sense more so.

Like you say, what they offer seems cheap so it does make me question where they are making up the difference.

 

Thanks @Jess Peletier,

I suppose the issue for me is getting to the stage where I am confident that I think have a deal. At this stage for me there are just too many costs I am unsure of to be able to do even a rough feasibility.

I am hoping a town planner will be able to work with me to get some well estimated numbers for basic deals which will help me judge the profitability (or lack thereof) of local projects.

Certainly once I have my eye on a deal my broker will be one of the first people I speak to. Apart from the financing side of things, what else would you suggest a broker could discuss? Surely Brokers aren't trained in studying property markets and what is a 'good buy'?

 

No that's more a buyers agent. But good, investment savvy brokers can do a finance plan for you to work out how you can acquire what you're hoping to.

A standard transactional broker is highly unlikely to do this for you.

 

I work for REI and co-hosted the webinar you are referring to Rob.

Just to put the price into context it is very deliberately set at that price to attract people to our service over a buyers agents. We have a team of seven people that work on these deals, Justin Hams and myself being the two that work heavily in that area.

One thing that would be worth highlighting is that we absolutely do not have all the answers, but we provide as much detail as possible and also have town planners look over any deals prior to us sending them out.

If you would like to know anything else at all I welcome the opportunity to speak further with you or anyone for that matter.

 

Hey @Robbo03,

Did you end up proceeding with RE Investar. I've spoke with them recently regarding the Premium Membership and would be keen to hear how it went.

 

Hi,

Nope, decided to go another way. If you decided to use them I'd be really interested in how it goes.

We thought they're presentation was good and believe they'd probably provide great benefit, just decided it wasn't for us.

Robbo

 

The good news is, that public companies like REV aka. Investar have reporting liabilities. If you open up their quarterly report, they proudly reported the increase in the number of purchases they assisted along with the commission they get. I was very disappointed to see that, and would definitely question the reliability of such adviser who receives more incentives from the other party than from me - their wanna-be client.

I am desperately looking for the trusted adviser, but will never get into a deal without making my homework...

 

Some BA's help with feasibility study info for small development sites. Most won't manage unless they also charge separately for this the DA as that is a long ongoing commitment and time. I get local consultants to manage DA's in my patch.