Who has used Binvested 3-5 years ago?

To be honest @Peter_Tersteeg i wouldnt think so,agents know the hard core
property investors about,Adelaide is not that big

 

The right buyer’s agent will have strong relationships with a wide and far-reaching network of professionals in the real estate industry, which can offer you access to a vast selection of not only off-market property, but also real estate that hasn’t been put up for sale yet.

 

I can't speak for BA's but these guys didn't have an edge. Well they did but they keep it.
Sure Nathan did all the leg work on his portfolio but the stuff his clients are buying are misrepresented. Or he gets a deal on 6 townhouses inside a gated complex in one swoop, then draws them out f a barrel to his clients. Plus they don't perform per the basis they were sold to you.
They have a major conflict of interest as they charge their clients $10k a property and under their CF, below market value strategy they target lower priced properties and get you to buy as many as possible.

 

@Justin Morris

I'd Recommend Binvested to you

They've been able to put numerous clients into achieving similar goals to what your asking (0-10 properties in 7 years), Every Facebook post ive read about them seems amazing the results they have achieved for their clients.

Not only have they sourced amazing properties for the clients as a buyers agent but their services go way past that

1) Their wisdom is #amazing, the quotes they tell which we can all share through facebook/snapchat/instagram
2) They throw awesome parties for their clients. And their not full off boring old farts.
3) Best part of using them is then we can use #Binvested and get that status everyone desires

If only I started investing with them earlier instead of taking a gap year to travel Europe and eat smashed avo on toast I would have had 10 properties by the time i was 21.

 

This will get business booming. (:

 

How's your portfolio travelling?

 

Only 10 by 21? Owned outright at the very least I presume?
#slacker

 

Awesome parties on my $10k per property fee for a shietbox.
Are you off your head mate?

 

I'm pretty sure he's(?) taking the p*ss.
(Or I've just really misread the situation!)

 

Actually....those amount/returns sound fine.

eg $220,000 purchase price (you didn't say if included costs....lets assume it did but happy to edit if it didn't).
Your mortgage is 220,000x80%=176,000 loan x 4.5% interest= $7920pa
$100pw costs (hopefully assuming management/strata/insurance/repair avg)=$5200pa

Rent is $300pw = $15600pa
less $7920 interest = $7680
less $5200 costs = $2480pa cash flow positive.
PLUS 7% capital growth $15,400 a year= $17880 return on a 20% deposit of $44000 = 40% return on your investment......sounds like a great deal
(little lower return if it didn't include stamp duty and purchase costs).

My point being is that who cares if costs $100pw in running costs.

 

7% capital growth on a gated complex townhouse? Lol... yeah right. Therin is why it is a bad investment. I would be conservative in saying the ones I've heard about have even done 2% (kept up with inflation).

 

My example was $220k purchase price and $100pw strata only. Maintenance, insurance, managing agent fees etc. excluded.

In any event the point being made was that when strata fees are ommitted the deal looks great, when you add them into the equation it's not so crash hot.

If it was a free standing house achieving those returns - different story.

 

.....sigh

I don't get why people think strata fees are any different to owning a house.

Yes there may be some "increased costs" because professional manager etc but the bulk of strata fees go on expenses you would have in a house anyway eg cut the grass, fix the plumbing, replacement of the roof etc.

Strata fees are an expense.....but no different to the expense of owning a house.

 

Difference is the ambiguity around strata fees vs say rates or insurance.
Sigh...

 

You're right, I better run back to Binvested on the strength of a youtube video and buy whatever they put in front of me without any DD regarding costs. What could go wrong.

 

What year did you buy this and what are the numbers like? We hear about a lot of their RESI buys but not much on the commercial side.