Rethink Investing

Hi All,

Looking to purchase our first IP and have been considering to use the BA services provided Rethink Investing.

They were recently introduced to me through a friend, who also hasn't used their services so looking to get some feedback.

Anyone here had any experience or bought a property through them?

They claim to buy under market value and in strong rental demand areas. Wondering if this claim lives up to expectations.

Also, our main focus of the IP is capital growth, for which we are mainly looking to purchase in established inner city areas of capital cities. As per my research they are mainly focused in outer suburbs where there is a strong rental demand and a potential for capital growth.

Anyone has an opinion/experience (positive/negative) on their strategy or their BA services?

 

No idea on them... who doesn't promote BMV no days.
Look for red flags like only recommending (selling) brand new properties and rental guarantees.

 

And here I was thinking you needed to rethink your investing ... haven’t heard of them .

Most people here don’t used BA’s but there are few who do get positive feedback who specialise in certain areas .

Which area ?

Cliff

 

Haven't used them...

The founders had an article on Domain - The Gen Y couple from Sydney making $300,000 a year with 28 investment properties

The whole BMV is what they all say but when you buy/sell that is market value as the market determined that was MV.

Someone wont be leaving 100k on the table or it would be extremely rare to leave 100k on the table. E.g. house worth 500k would you sell for 400k? Even if you were distressed with a divorce or death surely you could find someone who wants to pay 450k...

Another warning bell for me is from the 64 reviews on Facebook all of them are 5 stars... They are either really good at what they are doing or it might be a little fishy.

 

You could spend several lifetimes "analysing " the rows of data-statistics-multicoloured charts-marco economic factors and still not make one cent..
How come your friend never used the above firm ,and it is sometimes very hard to as some claim to buy under market value combined with a strong rental demand,all you can do is ask the question from the above company ..

But before you do,listen too the link below may well save you a lot of money..imho.

Property investment | ASIC's MoneySmart

 

Echoing @See Change, when you look at how much you'd pay someone to do the work for you, you really have to ask yourself....If someone paid me to that fee, could I find something the same or better?

 

That old chestnut.

Some will have great experience, and want someone to hold their hand, but if you want to learn the ropes best way to learn is to get your hands dirty

The argument.... "time poor", when you are spending $400K+ I would make the time.

 

So true. Seems purchasing a property is like buying a bag of lollies these days.

 

Thanks for the insight and comments All! Very helpful.

The friend who recommended them is not new in the game, he has an existing portfolio of investment properties in Sydney and Melbourne, which he has bought using the services of other well known BAs.

He just mentioned them as an option, like some others he has recommended in the past, and also considering to use their services.

I guess people need to understand that everyone is different and has their specific circumstances, time constrains and confidence level, which can affect their actions/decisions before they delve into such an important financial decision of their life.

We as a family have been considering to get into property investment for at least 5 years and still haven't been able to take action. I acknowledge this as our shortcoming, so we've made a decision to pay someone for services then waste another 5 years and achieve nothing.

In terms of research/exploring options, I've attended seminars of Metropole, Custodian, Advanced property strategies, Rich Dad etc but still couldn't muster enough confidence to take an action.

In recent years I've read books of Michael Yardney, John Fitzgerald and Helen Collier-Kogtevs, which were really helpful in acquiring knowledge but unfortunately still not enough for us to take the action.

So keeping the above in perspective, what would you recommend?

More simply we are looking to use the services of a BA to get the first IP and as we learn the ropes and gain some confidence, we'll be able to achieve perhaps the 2nd and 3rd on our own.

At this stage primary looking to buy in Brisbane (BCC areas, 10-15 KM from the city)

 

Hi,

If you haven't already heard it, have a scroll back in the Smart Property Investment podcast episodes and you'll find two with the guys who owns Rethink Investment as a guest. He definitley seems to have done well for himself! (from what he is sharing in the podcast).

I'm in the same situation as you, I'm looking for a buyers agent for our first purchase as I live in the NT and I want an "expert" on board that I can bombard with questions Obviously also do our own due diligens on area/property but for me, I'd rather pay 10000 the first time around and then have the confidence to do it ourselves.

For me, something I would see as a bit of a negative about Rethink Investing is that the guy has only invested for a relatively short time himself. Can't remember the exact time frame. (7 or 8 years maybe?) To me, someone with 20 plus years experience, that have seen several property cycles, up and down turns in the economy etc would give me more confidence. But who knows, this guy might be great anyway, as I haven't used him I just don't know but thats just my thought

 

If you have been waiting 5 years and still can't make the commitment maybe a good BA can help you put your plans into action.
Check with your broker too what your budget is.

If looking at 10-15km from Brisbane perhaps look at property zest BA with Karen Young from Everyday Property Investing podcasts. Seems to get good reviews on here but please do your own checks as I haven't used their services.

Just beware of anyone selling you new OTP apartments as this is likely to be a spruiker and getting other commissions from developer for selling their product and not acting in your best interest.

Good luck!

 

Thanks Craig, at one stage were considering Custodian's full turn key option but soon realised that their model was not for us.

I'll explore the services offerings of Zest, have also been looking into Allen Real Estate.

 

I think you are on the right track, you certainly have the right idea for the property location and going with High growth. I used a buyers agent for the first time last year and was very happy with the decision. You will always get people argue you could do yourself and save the money but if you get a good one these guys know what they are doing and will save you a lot of time and money in the long run. When you are purchasing in high growth area's there is a lot of demand and if you do yourself you may find you keep missing out as someone beat you to it.

 

I should add i didn't use Rethink Investing myself.

 

I've bought a lot of properties in my time and I now almost exclusively buy using BA services. I have the knowledge and ability to do it myself, but for me it's a trade off between where my time could be better spent. I like to work as a team with my BA and I essentially can manage the process from afar without having to do months of ground work anymore.

Usually they have existing relationships in the market(s) in which you're buying which can make a big difference. Add in their intimate micro knowledge which you simply can't get unless you're actually stomping the ground every day in a given area, and the fee is more than worth it in my opinion. You always get better value than the fee if the process is conducted properly both from a time-cost and direct perspective. You will usually come up with a better product that has better performance prospects too. I simply view it as a cost of doing business.

 

I could not agree more with you, I think it's the way to go nowadays. It's more costly to get it wrong and waste precious time. Like you say it's the cost of doing business, I say this about LMI myself!

 

I recon they seem ok and genuine people I’ve talked to them in the past and track their Facebook page they have some really great deals with strong yeilds I have been considering using their service down the track

 

@Kurabi hi, did you end up using rethinks services?
If so, were you happy with them?
Would you use again?
Roughly what sort of time frame did they take to find you a property and how much?
Thanks for your insight, Wez

 

Heard the owner of rethink investing on the propertycouch, sounds pretty good.

Ep 230

Podcast Archives - The Property Couch

Scott, the owner of rethink, said he learnt heaps from property forums, so wouldnt be surprised if he is a member on here.

He was a pretty impressive interviewee.