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Real Estate Investment Support?

Discussion in 'Real Estate' started by ilori, 18th Nov, 2008.

  1. ilori

    ilori Well-Known Member

    Joined:
    27th May, 2007
    Posts:
    75
    Location:
    Mt Macedon, Vic
    I'm looking for someone who can help with real estate investment and general investment - wondering if anyone has a suggestion from their experience?

    Want someone who is balanced, understands finance, understands investment, no hidden agendas. Generally I'm not keen on people who are focused in particular areas, such as buyers advocates (ex. agents? - investment understanding may not be there), finance brokers (focus on selling loan - don't care what you buy), financial planners (focus on commission investments - don't like direct real estate). I know they are generalisations and there are exceptions.

    Examples of companies/people that seem good are:

    * Destiny Financial Solutions (Margaret Lomas) - costs to get into the program but seem to be good solid advice with no agendas except that would like to organise the financing (fair enough). They seem to understand real estate, the investment process, structure, finance, realistic (unhyped) expectations.

    * Steve Navra - don't know much about him but seems to be an original thinker who clearly understands property, shares and the investment process. Is able to articulate reasoning well, thinks outside the box. No seminars in Melbourne for some reason however.

    * Metropole Property (Michael Yardney) - Michael clearly has heaps of experience and has a lot of experienced support staff - can assist with passive investment or development. Experts on Melbourne property in particular. Understand property cycles and the overall process very well.

    Does anyone have any others they have come across or feedback on the above?

    Thanks and regards,
    Ilori
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

    Joined:
    9th Jun, 2005
    Posts:
    4,623
    Location:
    Sydney, Australia
    Are you looking for someone to do the work for you ? Are you looking for advice on choosing a property ? Or something else ?

    My first advice if you are using someone else to help you buy is to always understand how they are getting paid. Many property "education" or "advice" organisations are not much more than sales people who will help you buy property that they want you to buy. Make sure you know where they source their property from and realise that if they have a stake in the property you are buying, the advice you are getting is not independent.

    What is it you actually need help with ?
     
  3. ilori

    ilori Well-Known Member

    Joined:
    27th May, 2007
    Posts:
    75
    Location:
    Mt Macedon, Vic
    Thanks Sim,

    Completely agree, people's advice skewed to how they make their money.

    Good tips, good questions.

    I've dealt with property a little (some renovate, some hold) and have a general understanding of it, but no-one to concur with. Maybe I could have made better choices had I been able to talk to someone knowledgeable and trustworthy. This feeling is amplified when I hear stories of people doing well with little effort - whereas I feel I've made sacrifices and worked harder. Not boasting - need to be smarter going forward.

    Generally I'm not looking to be spoon-fed, prefer to do the work myself and be in control of my affairs, but good to have someone to discuss with and make suggestions. Areas such as:

    * overall strategy - what is the overall strategy that suits me? discuss things like cap growth vs. higher rent properties; do we have a share portfolio with property? General structure of the basic investments.

    * specific deals - having found a property, good to discuss it with someone - does it meet a selection criteria? does it fit with the overall strategy? is it in right geographic area? are demographics ok? etc.

    * financing strategy - such as need to finance with various lenders and kept below thresholds, ensure no one lender has too much influence etc.

    * structure - usual things like Trust, Pty Ltd, individual names etc. - trouble is most people are pushing their own agendas (as you suggest) and they with happily stitch you up with a structure that they want to sell regardless of whether it's right or not

    I guess it's a bit like we read in some books, people like Robert Kiyosaki, Peter Spann refer to people who guided them in the earlier days and got basic attitudes, structures, processes, plans etc. (I'm sure there is some poetic licence (fabrication?) with what these people write but there probably was a person they looked to for sensible input.)

    I've tried to find people in the past - some were simply not what they claimed to be, some were simply flogging things they dreamed up, some were unable to deliver on what they spoke of, some were unethical and slippery.

    The names I mentioned in first post - Lomas, Navra, Yardney - I have no particular insight to, but they seem to be solid and try to do the right thing.

    I put this post in the real estate forum because I see property as the most fundamental investment and main thing to get right. However, on from there a sensible share-based investment, working in conjunction with property is good - enhances the overall investment model. (Seems be an advantage that Navra has over many, least he can see both sides of it, most are in either shares or property.)

    If any overall suggestions would like to hear. Generally I'm completely open to any feedback though. I think Peter Spann said everything we need to know about investment is already written - maybe it's just a matter of reading the right books :) (What are the right books in that case?)

    Thanks for your feedback so far.

    Regards,
    Ilori
     
  4. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Hi Ilori

    Wouldn't we all have loved the opportunity of having a personal mentor on our investing journey? Life, however, isn't that easy, hence the birth of so many specific industries that cater for the diversity that investing involves ie: financial planners, mortgage brokers, real estate and buyers agents, accountants, conveyancers, solicitors, developers, fund managers etc etc

    Reading as much as you can is essential, and mixing with other investors, learning and sharing knowledge is the key if you're to truly educate yourself along the way. This site is a great tool, so fire away with specific questions, or use the search option to explore what others before you may have already asked and hopefully been assisted with.

    We are all at different stages but the learning never stops. Looking forward to hearing more from you.