The Great Australian Rip Off

Why is this industry not regulated, it is a blight on our law makers that this can go on for as long as it has.

Selling US property to Australians at well over market prices and getting kick backs is common practice and you the investor wear the costs.

I created my company to overcome these issues yet still see these sharks thriving in this market place, without concern for outcomes or putting the investor first just the need for a quick buck and long disclaimers when you can find them.

Let’s get down to brass tacks here and let me explain.The full disclosed address of a property allows you the investor to source critical additional data such as:-Last sold price and dateHistory of salesTaxes / ratesWho owned the propertyOther relevant data, get this information and do your homework!

Without the full address you are being screwed 100%, this information which should be available up front before ever taking the next step and contacting the company, by not disclosing the address upfront they are hiding siginificant profits.

Don’t take the numbers offered on the home as gospel check past data as anyone can list a home for whatever they like for sale on the web and it will transfer to zillow, trulia etc. It is their purchase price that you want to look for not the selling price today.

A property purchased for 20K can be relisted for 69k easily and happens all the time, check the sales history!

Buying wholesale is bullshit! I have been approached by so-called wholesalers and it is just another word to use instead of the truth (money makers). These guys want to offload overpriced property that is the fact 100%.

In my role at Cash Flow Gold I get approached to do this all the time, find me some suckers to buy these great looking “wholesale” homes and there is 8k+ in it for you….yes all the time. I got taken myself as an investor 3 years ago like this and that’s why we have CFG today.

Is it no wonder that one company will openly say there is no service fee to be paid….hello how do you think they keep afloat they have to get paid from somewhere don’t they? so why not be honest and charge a reasonable service fee, strip back the 8k in commissions and do the right thing?

Why can’t these guys be exposed? Well thanks to a great forum like http://www.propertyinvesting.com/forums it is becoming apparent who to watch out for, however there are so many mum and dad investors out there who don’t read these posts and get caught out.

SprukersNow don’t get me even started on these big groups going around calling themselves these great names claiming to have the answers and provide the rip off on a grand scale, you know who I am talking about.I have approached 2 of these so-called more reputable companies (I thought) providing a wide range of investment options to speak in regards to buying directly from the banks and was refused because they must control all of the cash, not the investor and if there wasn’t a significant kickback in it go away. Well who pays for those kick backs?

Yes you do in the cost of the property! I walked away!

Note!

Get the full address, A 10k home isn’t a bargain until you have done your homework just the same as a 220K home isn’t until the homework is completed. You maintain control!

http://www.zillow.com

http://www.trulia.com

http://www.nationalrelocation.com

http://www.finestexpert.com

These links should be provided by the seller on every property if they have nothing to hide and even more so if it is a so-called wholesale deal, showing you just how much savings they can pass onto you as a buyer.

Renovations / Rehab

Let’s look at this for a quick minute as this is another area significant profit can be hidden too. You need to know what condition the seller receiver the property in, why? Well a minimum renovation / rehab can cost as little as 2k and a major renovation should not exceed 18K and for this we are talking about a new roof and extensive repairs and all this should be shown to you with evidence such as photo’s but preferably video where possible before and after so you can see the work completed. Ensure you have certificates of compliance too.

All I would like to see is that investors start getting a fair deal and these sharks who promote “wholesale” and “no service fees” get seen for what they really are, sharks!

Put this to the test with every company you can find you will be surprised!

Thank you for your time and reading my rant.

Jason SimpsonCash Flow Gold

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