Hi to you all
I have read all the threads about property clubs and I find it very informative. I have bought a few properties two of which have come from the same club. I started buying last year. I was very concerned with the amount of information/ deals that were about and whether they were any good. I had a long chat with the lady at RW Properties who went through everything with a fine tooth comb. The one thing I learnt was that the deals which tend to have low money down and fees paid, tend to be slightly over priced and also the dicounts aren't so good. It's therefore a choice between money up front and a cheaper / better rate mortgage or little money down and higher mortgage payments. Also it will be a longer period of time before you start drawing increased equity out of the property.
There are so many companies about all offering so much sometimes its difficult to make a decision and it becomes easy to get drawn in to low money down deals because on the face of it they look good, but they may not be such a good deal in the long run.
I have no affinity to any company but I would suggest RW Properties every time. Don't judge them by their un flash web site. They are just very honest, even to the point that they went through a deal with me that i got from Challenor. They did my cash flow and worked out the actual yeild, which really is never as good as you think! Why would they need to do that when I'm buying the property from another company.
They really were brilliant.
Give them a go.
Ed
