Right Property Group

Hi,

Been an observer of this forum on and off.
Has anyone recently signed up with Right Property Group and if they can share their experience? Also if anyone has signed up with them several years ago, if not, longer than that and how have the properties been in terms of growth and yield as well as of any regular catch-ups with them?

Lastly, if anyone has bought with them for properties in NSW, QLD or VIC and what your thoughts on them are?

Thanks!
Thomas

 

If they claim to be BAs (in video) check they hold a real estate license for the state where the property is and where you engage them. Real Estate Licensing & BA rules are available online to check including the list at the bottom of this page. They claim to be "qualified property investment advisers." which raised a question in my mind..what does that mean ? Only financial product investment advisers hold a AFSL issued by ASIC. Its irrelevant for property as property is not regulated. Fact check this. Warning...anyone can claim to be a property financial adviser.

Remember they get paid to sell you things and the question must be asked is who pays them. Is it only you ? How ? Its their business and the team size indicates they need regular income. They wont necessarily be impartial if they are conflicted. Just like if you walk into KFC they wont suggest you buy fresh food next door. This doesnt mean they are bad..Be cautious. .Always be wary of one stop shops as they may sound very convenient but there are ways to hide truth through control of finance etc. Controlling finance is how some spruikers can disguise a bad deal. They seek equity finance from a home for deosit etc and then when a low val occurs for the IP its covered by the other debt. And you may never know because the broker is theirs and part of a team. Who works for who ? Consider independent broker support. Its not like they own a bank and can do special deals at a hidden discount.

Using a independent buyers agent is an alternative. In return for a fee they may impartially seek a property rather than steer you to specific property they have through partners they know. One thing RPG indicate is they dont sell property. That may be good but it can also disguise their alliances and I will use a exaggerated example eg TopPlace Castle Hill developments may offer a lucrative fee to sell their property. (If you dont know what that means consider checkling Google) so check all these things. Be wary of any time pressures or hard sell. Membership of BA professional bodies like REBAA can be a sign of integrity where you pay a fee but the BA works for you. It may assist to engage with a BA and compare

An initial engagemnet with them should help you learn more and ask all the right questions

 

Thanks Paul for your input!

I checked on the ServiceNSW site and they are licensed property agents (individually and as a corporation).

They are not a member of REBAA, they are instead member of PIPA.

I had a chat with them end of last week and they said they are only paid by their clients. I didn't get any bad vibe and didn't get any hint of asking me to sign up. The call was more of a get to know each other type.

I do have further questions that I will ask them on and I will talk to few other companies to compare. Per your suggestions and I seen it on other posts on this site too, I do want separate entities working for me. I am using my own broker already and will definitely find my own solicitor (another forum post I will do to ask for recommendations).

Thanks again!

 

Thank you Simon! I didn't know about Somersoft, good to know. Will go through it. I will report back if I do go ahead with them. I didn't speak with Victor, but I did with Steve Waters.

 

I have heard the name Victor Kumar before and have heard him on a few podcasts. I don't know anything about them, but you could do a search and have a listen to a few to get a better idea.

 

Thanks! Good to know.

 

I reckon they tend to stretch the truth and leave out key details, since the beginning.

They used to do presentation and a supposedly ex PWC accountant would tell people to claim a deduction for a house office with no mention of CGT implications as if it was "free money" from the gov.
Home-based business and CGT implications

Nathan Birch was working there in his early days.
Both were competing to do the cheapest and nastiest renos ever I reckon.
Notice in this thread how Nath says "They referral fees not commissions"
And how he's got no idea what his website says he does.
Has anyone heard of Victor Kumar???

Everyone I spoke to a few years ago would tell me they want a commission or referral from anyone for anything and everything.

Good luck

 

When I was starting out (2008) Nathan posted on Somersoft about Right Group monthly meetups. They were $10 and they talked about properties they were buying, strategies etc. They offered a free Blue Print meeting, whereby they looked at your situation and mapped a plan. They didn't have a mentoring program then.
I felt comfortable with Victor, Steve and Nathan. I found them to be honest and straight talking.
I signed up with them to find me a property (Nathan was their BA). I was 50 and in a hurry. My idea was to buy 1-2 properties. Seeing all these young guys buying properties spurred me on.
I bought 4 through them then had the confidence to find my own properties. I am extremely happy with the properties. Sold one last year for more than triple what I paid.
Without them I would have bought 1-2 properties and still be working.

 

Spoke to Right Property group today. They seem very knowledgeable and nice. Fee is $14,990.00 per property but they are a one stop shop who hold your hand from start to finish

 

Yes they were very nice on the video calls and no hint of selling at all. They told me they have a recommended network of brokers, property managers and conveyancers. Just like what this forum suggests however, do get your own instead for guaranteed independence.
I didn’t end up going with them though…

 

Hearing that Steve Waters one of the Co-founders of RPG has passed after taken ill last year.



Steve Waters, Founder of Right Property Group. Obituary – Cause of Death : Steve Waters, Norwest NSW Real Estate Guru, Passes Away – County Local News

Very sad...he was a nice bloke.

 

As you said @sash a vey nice bloke who was down to earth and was a no nonsense adviser,not a spruiker

RIP

 

Yes...spot on....very sad day. His funeral was today.

My deepest sympathies and condolences. RIP.

 

I used to listen and watch Steve Waters on Margaret Lomas’s tv show. He always spoke intelligently and seemed to know his stuff. RIP.

 

Anyone knows what is the illness he passed from?

It's a shame as I hear his voices for years on Podcast

 

Was shocked with this one but was wondering why he hadn’t been on some recent podcast episodes.

He always spoke common sense and was a favourite to listen to. Entertaining with a few good laughs not taking themselves too seriously.
Not a spruiker and seemed to be doing a good job as a BA for their clients.

RIP Steve.

 

Very shocking news, learned ever so much about property investing in the early days through the Right Property Group and Steve\Victor. Condolences to Steve's family and RPG.