Frequently Asked Questions (“FAQ’s”)
Everything we have ever been asked about Property Friends
What is Property Friends™?
We are a group of like-minded friends and colleagues who mutually share the rewards and benefits of buying great investment properties together. The combined buying power of the group enables us to negotiate incredible savings and come up with deals that simply work.
How did Property Friends™ start?
We started buying investment properties for ourselves using a very refined proven method we developed for sourcing fantastic property deals, before other investors found them. Friends could see how well we were doing by the incredibly successful results we were achieving for our own portfolio. Friends started to aks us to assist them and we started to help our friends to find similar deals.
Everything snowballed and we now specialise in helping others access the opportunities we invest in ourselves. For more information refer to the “What We Do at Property Friends™” section on this website
What does Property Friends™ do?
We source and put together property deals for investors that are too busy earning a living to spend their valuable time properly researching and investing in property. Our service specialises in selecting areas that are forecast by the experts to double in value over 7 to 10 years as well as providing excellent rental returns.
We aim to maximise both capital gain and cash flow. Instant built in equity will build your wealth quickly and allow you to build an investment portfolio much faster that you may have thought was possible……the best part is that YOU don’t do any of the leg work or research yourself. For more information refer to our About Us Page
In what areas are members of property friends buying in?
Areas that we have done exceptionally well in are North Qld, NT and regional Western Australia, but really it all depends on what is working at the time. Where ever the formula works is where we go. Our criteria for selecting the areas that we invest in is very stringent and uncompromising….therefore it’s unusual if the group is buying in more than a couple of areas at any one time.
I’ve never invested in property before, is your service suitable for someone like me?
Yes. We have first-time investors as well as experienced multi-property investors in the group. We understand that investing for the first time can be a nervous and stressful process – we started the same way!!! Please don’t hesitate to ring us for a chat so we can address any concerns and questions you may have.
What research do you do?
We have an exhaustive checklist that is diligently completed for each potential area. All the ticks have to be in the right boxes before we will even consider going any further.
The areas subsequently chosen are thoroughly researched and we travel extensively to check it out personally. it is our view that you just got to have a good understanding for what is going on in a location and that can only be done when you are physically “experiencing” an area and “pounding the pavement”
We consult with the experts that are in the business of forecasting future real estate values and town planning. We obtain historical and projected data for capital growth and rentals and meet with local developers, councils, builders, rental agents, designers, suppliers…etc.
And last but not least, remember that we ourselves are investing in these areas ourselves, we don’t put anything forward to you that we would not do ourselves.
What types of property do you source?
We tend to stick to new residential housing at or below the median price that has a high rental return and high tenant demand. We consider that we have worked out a winning formula, and why to change when you are onto a good thing.
Why do you specialize in brand new house and land packages?
The method we use accelerates the process of building equity in the investment property, thus allowing a revaluation and then use of that extra equity to buy another investment property.
Being able to buy the land separately and build a new house on it enables us to buy as a group in bulk and keep costs down. Getting in early with developers and builders means we have time working on our side as well. For example: Lock in deal with minimal deposits. Say, land settles in 12 months (during that time we have capital growth working in our favour). Say, builder takes 6 months to build a house (during that time we have inflation, building costs, labour costs all working in our favour). Of course, it all depends on each specific deal, some are “ready to go pretty much right away”, others take more time to develop.
Either way the time our property is ready to be settled the land has usually gone up and the price of the house has gone up too…, so now we have equity built into the property that we can generally use to buy another investment property.
There are other benefits of buying new house and land like: maximum depreciation allowances for tax deductions, less stamp duty, new home 6-year guarantee, more appealing for tenants, higher rent returns, lower maintenance, etc.
Do I sign a contract for the property with you?
That way you have complete transparency, peace of mind and you are in totally control. We are paranoid to distance ourselves from any “two tier marketing”. Note that we ourselves are paying EXACTLY THE SAME PRICE for our package, that you are paying for your package. Quite often we are one part of the buying group ourselves.
How do I know you are getting me a great deal?
Our results speak for themselves. We could go on about tenth of thousands of dollars gains in equity, even prior to the property being settled and rental yields of 7% plus. But perhaps rather than us conveying what my appear as bragging, we feel its better to let some of the members of the group tell you what they think about the services and results achieved by Property Friends™.
Please refer to the Testimonials section on this website.
Plus, note that as we always say – it’s YOUR MONEY – do your own research – and if you want help, we can give you references where you can do independent research. it is important that you due your own due diligence and consult your own legal, financial and other advisers.
Can’t I just go out into the market and do this by myself without your help?
Sure you can…if you have the expertise, the contacts and the time. You will get something, BUT how do you know you can get as good a deal as we do.
Remember we invest together as a group to obtain significant discounts and a jump start to building equity. We welcome you to at least speak to us first. Our service could be something that fits your requirements and provides more benefits to you than trying to do it all yourself. We actually have a great testimonial from Garry Mayer that explains it very well, go to: https://www.propertyfriends.com.au/en/testimonials/view/10-garry-mayer
In fact we go one further — our promise is that if you don’t have at least two times our fee in equity by the time that the house & land package is finished – we give you our fee back (and you transfer the property to us) – no question asked!!!
Why should I believe and trust anything that you say? How do I know you are the “real thing”?
The support we get from our ever growing group must indicate we are doing something right. We suggest our record of successful results and great service show we have the “runs on the board”. We take pride in providing a totally honest and ethical service. (Just check out the testimonials).
Also, please note we are active investors ourselves in the same areas…..yes, we put our money where our mouth is.
However, most importantly we strongly encourage you to do some of your own research and checking to satisfy yourself that you are comfortable with what our service has to offer.
Is your organisation involved with the notorious two or even three tier marketing campaigns that have been used by unscrupulous people in the past? are you getting paid kickbacks from the developer, builder, agent, suppliers or any other persons?
All our dealings are totally transparent. There are no hidden commissions or kick backs from developers, agents, solicitors, marketers, etc.
All contracts entered are directly between the you, the buyer and the seller. There is NO middle man – “no one puts their hand in the tilt”
What results have you (personally) and members of the group had so far?
Without going into to much personal detail, we have been personally able to buy a large number of properties within very few years using the exact system our group uses to put together such great deals. all along the way, we are building equity and long term wealth. We are happy to discuss with you the properties we purchased and you how we do it.
Members of the group have had similar success. There are members who are already buying their fifth property through Property Friends™. it’s the system that we have developed that works – if you work it.
How long have you been providing this service?
We started buying our first investment property back in 1999 and have been providing the service for family and friends for over three years now. We now do this full time as a family business service and have been providing this service since 2003 in a FULL TIME capacity.
How do you get paid?
As previously stated we do not receive any commissions or kickbacks.
Like any service business we have a number of costs factors and overheads that are incurred. As such, we ask members to contribute to recouping these expenses. The payment for the overheads recovery is very small is comparison to what other similar services are charging.
Please understand our preference is to discuss that privately with you at the time of engaging our service……we really don’t want “the rest of the world” to know how little we charge by publishing it here.
Do you provide investment advice or finance for my property purchase?
No. We are not licensed to give investment or financial advice. We can assist with a referral to some professional services if you are looking for help in these areas. But to make it absolutely clear – it’s your money – you need to be happy with your investment decision and do your own due diligence and consult your own advisers.
How do you select the type of house and inclusions that will be suitable for tenants in that area?
We research the types of properties that are in high demand by tenants in the local area. The house design and inclusions are negotiated with the builder on your behalf, to ensure everything a tenant would want is included. We do a lot of research to make sure that “when in Rome, do as the Romans”. it is obviously important to make the inclusions and specification befitting the local environment and circumstances.
That way as soon as the house is completed, it is fully ready to be tenanted straight away.
What do I do to find out more and put my name on the waiting list?
Ring our office or send an email and we can organise a mutually convenient time to chat.
It’s a good chance to find out what you might be looking for and also give you the opportunity to ask any questions you have about our service…..all obligation free. That way we also get to know about where you are at and what you want to achieve. This is a two way street, that is best taken with mutual understanding.
How long will it take and how will I know when you have found me a property?
This all depends. Some deals can take a while due to negotiations and timings with land developments and builders availability. Register your interest and we will contact you when something comes up that fits.
In the meantime, we ask you to do your own research and get a feel for what is happening in the areas we are looking at. That way when a deal is offered to you, that we believe meets your requirements, you will be in a position to make a quick, confident decision….either way …yes or no.
How do I find a tenant for my property?
We encourage you to find a tenant yourself or by contacting various rental agents in the area. We suggest it is well worth using the services of a rental agent. They handle everything on your behalf and make sure your property is well looked after.
Due to the size of our group, we usually negotiate discounts on rental commissions for our members. We are happy to provide referrals such agents upon request. again, due to the strength in numbers in the team, we can leverage our position.
Do I need to live close to the property?
No- we are more concerned with finding a property that “works according to our formula”, then checking “whether the tenant mows the lawn regularly” – don’t get us wrong – that’s important – but it is the role of the rental agent to make sure that the property is looked after.
We have several members that reside overseas and have purchased property in Australia. it proves the point that it really doesn’t matter where you live.
How do I know the builder won’t rip me off …i don’t want to pay for a house that isn’t built properly?
We make sure the contracts include special conditions that ensure that an independent building inspection (on your behalf) can be conducted prior to settlement.
This gives all of us peace of mind and ensures that the builder not only meets the required building standards and regulations, but that we have good workmanship and quality in our investments.
Who are the builders you use?
They differ from area to area. We always select local builders that have a history of quality and excellent reputation.
Searches are conducted by us to the relevant building authorities and associations to check there is no history of “black marks” against a builders name…..both with quality and financially. We look over a builder’s previous work and speak to locals to get an informed opinion of the builder.
Over time we have built up great relationships with several builders who we have absolute trust and confidence in. And again, we are using all the same resources ourselves, we are in the boat with you so to speak, and believe us – we like quality work.
What is the next step?
We suggest you contact us to discuss your questions and needs, feel free to either give us a call or send us an email Check out the testimonials – some of our team are so comfortable with our service that they haven even given their contact details. But please, if you do decide to contact any of them, RESPECT THEIR PRIVACY AND REMEMBER THAT THEY ARE DOING YOU A FAVOUR BY ALLOWING YOU TO CONTACT THEM.
AND MOST OF ALL – LET’S HAVE FUN AND ENJOY THE PROCESS – IT’S FANTASTIC TO “KICK GOALS TOWARDS A GREAT FINANCIAL FUTURE IN A PROPERTY FRIENDS TEAM”
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