Nathan Birch

This is what I was trying to figure out but rather than a 'loop hole' I thought it may be a highly refined strategy whereby only a few clients were taken on at a time.

I viewed a few examples of previous buys, I asked for the figures and addresses (the only figures provided were purchase price and rent, I wanted body corporate and reno costs if applicable) but they were never provided. Each time I receive a follow up call I tell them I am happy to use their service but I would like the figures and addressess of some of their previous buys first so I can make and informed decision.

Last call was a few months back, I was ready to buy in QLD, I asked for the same info, it still hasn't been provided.

We are more than happy to pay a BA because we are time poor but first I want to know what they have done for previous clients and what I can expect out of that fee.

 

I can understand that sort of 5% variance, we have had a 10% variance on a property between Aussie and CBA (in fairness to CBAs valuer I challenged the value, they acknowledged some errors and they brought it to within <5% of another value I had)

The variances were 20% plus: e.g. the strategy was buy at 500k, value a few months later at 600k and pull out 20% for next purchase and repeat again.

Absolutely brilliant if you can find those deals! I will gladly use your service and pay the BA fee but please provide some examples I can verify before I make payment.

 

@Tim & Chrissy yeah mate I think those types of deals are far and few in-between. You would really need to buy BMV big time, or buy something that you can add good value and then get it revalued with a nice profit margin.

 

Which I'm happy to do, I love a good reno!

Honestly I'm dissapointed it hasn't worked out. I really did want to use binvested and I had faith in their ability to sniff out the good deals!

But it's not blind faith, just like my love of @bob shovel isn't unconditional - despite being one of my first intro replies on PC (sorry bob ).

If you make a claim and you want me as a customer, give me a few details so I can verify and we're good to go!

 

You're assuming an independent valuer even looked at the properties!

 

Innocent until proven guilty!

 

Mate are you just too busy to look for deals yourself?

 

We have 4 kids, they are our number one priority and there isn't much spare time inbetween work, school, sport, tutoring, dancing and birthday parties.

We signed contracts on one a few days ago, just going through DD. It was tough, took it's toll on our family time and if given a choice I would have been happy to use a BA to get the same deal.

 

I charge 10k for the " love package ". I'll book you in for a map session

 

Done!

Is your office still at Panthers and drinks included?

 

Massage All Parts session...

@bob shovel nice business venture mate

 

You have to play to your strengths! Once the court case is finished it all action!

 

I've found all the answers I need. See ya later property chat!

 

this is my view

to get true BMV in todays market, you have to be

1. very lucky
2. have a lot of connections, even if you do, you may not get a bargain , see point 1
3. buy in a crappy market
4. buy in ultra regional where demand is low

since, the market is pretty hot overall, I can only deduce that the heaps of properties offloaded to clients are either not very good deals or have misleading valuations attached to them,
as someone mentioned the valuations are official vals or just verbal vals provided by someone with an agenda or benefit

 

Perhaps for those who used him for Syd market at the beginning of 2012-13 they were able to access quick equity, once the herd jumped in then it would be difficult to source these deals. IMO don't use BA when a market is hot, there is no point to it.

Also, if an absolutely amazing deal comes along some BA will be buying it for themselves, more money in it than a fee. It does happen, I know that one.

MTR

 

Perhaps for those who used him for Syd market at the beginning of 2012-13 they were able to access quick equity, once the herd jumped in then it would be difficult to source these deals. IMO don't use BA when a market is hot, there is no point to it, from experience they don't have the hours in the day/time and they have clients competing with what you want, how does that work??? sit in a queue and take a number.

Also, if an absolutely amazing deal comes along some BA will be buying it for themselves, more money in it than a fee. It does happen, not a crime, just something to remember.

MTR

 

I agree, its important to know the downsides and the upsides.

As long as the negative feedback isn't just people having a whinge.

Often, the negative feedback on websites etc gets deleted and leaves the newbies open and vulnerable. Surprisingly there is not a lot of regulation in the property education industry, I know someone whose been trying to bring in regulation for 9 years. It won't stop everyone getting burnt, but will put hurdles in place to stop the speculative, greed driven marketing and promotion that gets people into trouble in the long run.

 

Lolz, someone posted this to Birch

 

very funny and well put together from a poetic perspective

but stinks of sour grapes and jealousy from whoever wrote it

 

Really? I didn't think that at all, possible the author may just be mad... Madness is under appreciated you know