Who has used Binvested 3-5 years ago?

Discussion in 'Property Experts' started by Justin Morris, 19th Mar, 2017.

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  1. Justin Morris

    Justin Morris Well-Known Member

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    I'm about to commence my investment property journey and deciding if I should work with Binvested or not.. Look forward to hearing from investors who have used them 3-5 years ago.
     
  2. Clayton

    Clayton Well-Known Member

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    I think you'll find plenty of material in the forum, my unit has gone backwards in arrears of 150k, countless headaches & sleepless nights dealing with the issues it has caused. I had a bad feeling after putting down the buyers deposit & have been regretting not saying goodbye to a couple grand & move on ever since. Do your due diligence and make sure there isn't a catch to the numbers, is it under power lines, next to train lines, built in right decade you were told it was or in an area with vacancy rates going through the roof. Goodluck!
     
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  3. Anthony Brew

    Anthony Brew Well-Known Member

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    Sorry to derail this a bit, but it really bothers me when a company says on their website "We aren’t in this for the money".
     
  4. MTR

    MTR Well-Known Member

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    That's because they are a charity:p. and they have a passion to make you rich, what a bunch of troopers;)
     
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  5. Justin Morris

    Justin Morris Well-Known Member

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    Thanks Clayton! Not good to hear anyone's bad experience. (like anything in life though at least you have learnt from this exp). Yes, I have learnt quite quickly that carrying out your diligence is very important.. Not matter who you receive advice from.

    - Arrange your own evaluation
    - Check similar properties online
    - Speak to a local Real Estate about the property you are looking to purchase.. Thoughts on the price, what it will likely rent and sell for in 5-10 years.
     
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  6. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    I did a MAP session in 2014. I asked for examples of past deals before putting down the $10k, no reply. Different people contacted me 3 or 4 times asking if I was going ahead, said I would after they sent through the examples, they never sent anything through and I let it go.

    There are a few people on the forum who went with them, I haven't come across any positive stories yet.
     
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  7. Justin Morris

    Justin Morris Well-Known Member

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    Once off fee $9900 per property
     
  8. Justin Morris

    Justin Morris Well-Known Member

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    I did MAP sesh a couple of weeks ago with Daniel.. as I'm very green I found it quite detailed, no bs, based on his own exp. Daniel also shared a couple of bad exp.

    It was good to hear a guy who has a few properties to say ' I now have realised how much I actually don't know about investing'

    After the MAP sesh I received an email from Daniel with some info he said he will share including a Mortgage Broker, Lawyer etc they recommend (I do understand they earn a comm from them). Daniel also replied to a email I sent asking for a little more advice.

    About a week also later I received an email from the receptionist who has a few properties just following up to see if had any questions and that she is here to help if I do. On this email it also had some links to some success stories by their clients
     
  9. WattleIdo

    WattleIdo midas touch

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    Who are you trying to convince? Yourself?
    Don't sign up. Read the threads.
     
  10. Justin Morris

    Justin Morris Well-Known Member

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    Agree! Of course money is in it somewhere..

    How is your property portfolio travelling?
     
  11. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    Will they refund your money if your DD shows the property isn't a good buy?


    Pretty much the exact same experience I had but there were a lot of alarm bells for me in the documents sent through regarding the buyers agent fee. There wasn't enough information in the documents and in my opinion they didn't appear to have been drafted by a solicitor.

    I thought asking for examples was a simple request to put my mind at ease. The fact they didn't send them through set off alarm bells for me and was ultimately why I didn't go with them.
     
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  12. Anthony Brew

    Anthony Brew Well-Known Member

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    Oh I have not gone with them.
    I just saw your thread and then took a look at their website and that phrase really bothered me, that's all. It would be reasonably assumed without saying anything that they are a business and as such should be compensated for providing goods and/or services, so saying they aren't in it for the money seems dodgy.
     
  13. turk

    turk Well-Known Member

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    Search for threads on Binvest here and on somersoft.com.au.

    If you still think they are for you then good luck because you will need it.

    Educate yourself by reading the posts on this site, any BS gets shot down pretty quickly.
     
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  14. Ouga

    Ouga Well-Known Member

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    "Trying is the first step towards failure" Homer
    yeah, nah, just read the many feedbacks.
     
  15. Cimbom

    Cimbom Well-Known Member

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    If the deals were so good, they'd be buying them all themselves and not sharing them with you :p
     
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  16. Justin Morris

    Justin Morris Well-Known Member

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    Have
    Have you dealt with them? How is your property portfolio travelling?
     
  17. Justin Morris

    Justin Morris Well-Known Member

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    This has def crossed my mind! How is your property portfolio travelling?
     
  18. Justin Morris

    Justin Morris Well-Known Member

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    Ok, do you just go about it yourself?
     
  19. Justin Morris

    Justin Morris Well-Known Member

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    Do you go about it yourself or use another buyers agent?
     
  20. Connor

    Connor Well-Known Member

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    Sat in on a friends MAP session about a year ago. Was the usual sales spin that targets novice property investors. Examples of previous growth stories (in NSW), buy in costs, current values, accessing equity and repeating.

    They were targeting +cashflow property's in SE QLD at the time. A few Logan suburbs were mentioned, and they were promoting their BMV approach.

    The strategy they outlined at the time needed equity growth, so you could draw it out and buy again.. Plus positive cashflow so you could keep borrowing, which doesn't really work with the new lending guidelines.

    So while sounding great in theory, in application and looking at the suburbs they were targeting. I didn't think it would work very well.

    I help my friend buy in Melb. Already seen excellent CG and close to neutral cashflow.