Hmm.
Found the Investors Club, Australian edition, on the web today.
On the face of it, it appears quite interesting. The club basically recommends properties to buy, and offers a number of property-buying and financial-juggling services aimed at those who will be buying a number of properties over the years.
Some of these even sound useful, such as the fast-tracking of purchase paperwork that would normally have to go through a stack of please-wait-four-to-six-weeks companies and agencies in your local area.
Their stated aim is to make their members property millionaires or better, which usually means equity millionaires and a portfolio of three to six million dollars of property (of which two to five million is mortgaged).
And what do they charge for this?
Oh, only six percent of every property you ever buy.
Note that this is not six percent of profit. If you have five million in property including one million in equity, and you bought it through TIC, you will have paid them three hundred thousand dollars in fees in the process.
TIC's website says they have ten thousand purchases through them so far. For an average property value of around $400K, that's about a quarter-billion dollars in fees.
Who said it's difficult to make money in real estate?
On the face of it, it appears quite interesting. The club basically recommends properties to buy, and offers a number of property-buying and financial-juggling services aimed at those who will be buying a number of properties over the years.
Some of these even sound useful, such as the fast-tracking of purchase paperwork that would normally have to go through a stack of please-wait-four-to-six-weeks companies and agencies in your local area.
Their stated aim is to make their members property millionaires or better, which usually means equity millionaires and a portfolio of three to six million dollars of property (of which two to five million is mortgaged).
And what do they charge for this?
Oh, only six percent of every property you ever buy.
Note that this is not six percent of profit. If you have five million in property including one million in equity, and you bought it through TIC, you will have paid them three hundred thousand dollars in fees in the process.
TIC's website says they have ten thousand purchases through them so far. For an average property value of around $400K, that's about a quarter-billion dollars in fees.
Who said it's difficult to make money in real estate?