By: choroadking
23/08/2008
1:26 pm Yahoo! Profile:
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| If you are going to invest in a property interstate, go there and look at the thing, look at other propertys equal to the one you are looking at. I do not feel any pity for people who buy from these so called property investment companies and never see the damn property. There is a rule that can be followed, buy property in the area that you know, eg around your local area. Buying in an area you know nothing about can cause you major headaches, but hey use some common sense, thats something that seems to be thrown out the window when it comes to dealing with these property scammers. |
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By: ecchi.gaijin
21/08/2008
9:30 am Yahoo! Profile:
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| Financial advisors must disclose any fees or commissions generated from their advice via third parties. Check your letter of engagemetn or contract and if there is no mention of it you may have some recourse. If it is noted then stop whining about your own stupidity. |
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By: wolframtrader
21/08/2008
7:36 am Yahoo! Profile:
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"the best financial advisors offer financial advice, not real estate investment advice"
they offer financial advice, have independent research teams, and are not linked / affiliated with any one fund manager (you don't see for example AMP or MLC on the lapels of their suit jacket, on their stationery, etc).
remember, these guys generate income. they do that from fees from fund managers or you. if they suggest that you invest in property, then you need to assume that they are in the fee food chain...
check out www.jen man.com.au (close gaps)...a great resource if you are not sure about your "financial advisor"... |
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By: wolframtrader
21/08/2008
7:30 am Yahoo! Profile:
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Commonsense / Reality Check -
Financial Planner
* are they licensed with ASIC ?
* typically receive income from you (fee for service) or commissions from investment funds, et...eg. AMP, Colonial First State, etc) that they advise you to invest in
* why are they suggesting you buy a property (assume in a state in which you do not live) ? What is in it for a "financial planner"? They are not real estate agents? Ask them if they are getting a referral fee or commission fee from any company or entity relating to this property investment ? If they say no, ask them to put it in writing, signed by them and their boss, on their company letterhead...
* were you offered a "free" flight to see the properties on offer, and appointments with laywers, settlement agents, etc?
...nothing is for free...
You -
* not knowledgeable / savvy with investments (which is why you have gone to a financial planner in the first place)
* start to wonder why they are suggesting you invest in real estate in another state ? what is wrong with your state ?
* educate yourself, don't rely on others.
the best financial advisors offer financial advice, not real estate investment advice...if they suggest that you invest in queensland or another state where you do not live, ask them for their reasons, write them down, and do you own research... |
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By: ozchickwa
20/08/2008
3:24 pm Yahoo! Profile:
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Yes my husband and I purchased an investment property in QLD using Wright Patton Shakespeare financial services and we regret that we followed through with it because we are now financially worse off than before.
I'm not saying that Members Alliance will be like WPS but make sure you do your research thoroughly before proceeding,you will more than likely find that you can invest yourselves at a lot lower cost than using a financial planner and their services,they inflate the market value of the property and you pay.If you walked in off the street you would pay a great deal less for the same property.
Good Luck and BEWARE |
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By: fang_181
13/08/2008
2:30 pm Yahoo! Profile:
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Get a second opinion from another professional but these can be good investment vehicles. Never heard of members Alliance. Find out if the planner is going to receive a kickback for the sale, it could be their motivation for recommending the purchase. Best of luck!
Steve
www.MassiveDailyProfits.c om |
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By: funksta_nicki
14/07/2008
5:08 pm Yahoo! Profile:
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| We have recently been to a financial planner who has suggested that we invest in a property in Queensland. Has anybody done anything like this before and can offer any advice. Alternatively, has anybody had any dealings with Members Alliance? |
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