Nathan Birch - Binvested

LOttah on 07/11/2016 - 16:27
Last edited 15/11/2016 - 08:51

I have just signed up for a 'mapping' session for $300 with binvested. Web session is on next week. Excited somewhat but also weary about my partner's response when she finds out I have spent $300 to listein to a guy talking about properties.

Wondering if anyone has gone through binvested programs and what their thoughts are?

Things I need to do:
1) Complete mapping session with Dan Young.
2) Another person will then help me decide where I am in the property journey?
3) See the mortgage broker and if I decide to buy the property Nathan Birch and his team recommend, it's $10,000 per property (finders fee).

Update 15/11/2016:
So my partner and I attended the webinar with Daniel Young yesterday. Overall we gained new knowledge on property investing. Some people will argue, it can all be found in Nathan's video etc.. no, I personally don't find many of his videos as helpful as attending the session.
I personally own handful of properties in Sydney but there were few 'statements' which Daniel Young made which baffled me enough to think in my head "hang on a sec". Binvested have different views on how to 'safely' grow your property investing portfolio than I do.

Would I recommend people to attend the mapping session? - Yes but either own few IP or have good knowledge about the IP area before attending the mapping session.
Would I recommend paying $300 to attend the session? - No, the $300 is quite steep. I think $50 would be been better. The session was quite informal.

Next step:
I did consider the buyer's agent fee - $10,000 and buying a property from Nathan's team. More I think about it, the more I'm want to avoid it. Thank you to some of the private messages regarding this. It pretty much sealed the deal for me.

We have lodged an application with the mortgage broker to see if we can purchase another property early in the new year. I have previously bought my own properties without Buyer Agents involvement and I'll continue to do this in the future.

Thank you.

Financial

Comments

- - StewBalls on 12/11/2016 - 09:30
    
    It's interesting (sad) to hear that your property on the Central Coast didn't do well, I don't have any there myself but a few friends have ones that have done really well in a few locations.
    
    Whereabouts on the CC did you buy, if you don't mind my asking?
noise36 on 11/11/2016 - 13:41

people actually fall for these scams? mind boggling.
Unified on 25/11/2016 - 14:02
The $300 session highlights:

Daniel conducted the Map Session, not a very professional looking guy but he had his flaunt behavior

Buy properties at low and keep on buying using the equity (i wonder how they can claim the equity gain will be there)

Asks questions to the attendees and pretty much everything answer was knocked down (this way to show they know the answer not who paid $300)

Advises to listen to someone who has the at least 6+ properties

Once you finish the session, they will send an email giving all other agent details

These agents like Financial Advisor, Insurance keep on calling you like they don't have any other tasks/clients; also don't give up

And keep you directing to $10k slap for each property

I wonder how these guys even run business like if they are not certified financial advisers and that is also in Aus.

I believe in self-research as that gives you heaps learning curve and you cannot go wrong in most situations unless it is absolutely bad market. I would love to hear from others as honest and responsible advise.
ARudd on 24/07/2018 - 16:09

+1

Be very careful with Nathan Birch. Too much confidence with false statements. A clear example is this recent video of his of property development which has a number of false statements:

https://www.youtube.com/watch?v=pj2szRCV40s&t=4s

The address is 40 Sunrise Boulevard Surfers Paradise QLD. He states he can rent these properties easily at $400 per week whereas he is struggleing to rent them out at $350 per week. He will most likely rent them at around $300 per week.

That gives the return on property at the following at around 4.7%. You can get this rate of return anywhere better.

Rent $600 x 52 weeks = $31,200 divide by purchase price $622,000 plus renovation of $40,000.

Onwards he claims he has DA approved on the site. There is no DA approved desite holding it for already 18months and I doubt he will be able to get it approved for 16 units. Check the Gold Coast City Council on DA applications for this address. None have ever been submitted. It is too small a block with very few new builds on this island. Also why would he be trying to rent them out if he is about to get DA approval….

You could say it is a landbanking option but that is it and I'd say given the location he will be landbanking this before approval for about 25 years…There are many other examples of this. He makes money on the buying agency and fleecing off the niave buyers. Buyer beware.

Also check out this motel he bought in Wentworth Falls:

https://www.expedia.com.au/Blue-Mountains-Hotels-Rest-Easy-M…

and promoting here as a great buy:

https://www.dailytelegraph.com.au/realestate/nathan-birch-ow…

What a shocker. Terrible reviews on tripadvisor and full of drug addicts. It is a total dump. I wouldn't recommended trusting him as a buying agent. Caveat emptor and invest wisely.
- mini2 on 24/07/2018 - 17:21
  
  Absolutely loved his number of properties owned. A lot of those magazines are probably just as guilty, I mean buying a block of flats on a single title then chopped them up (mind you, it's not easy) then presto, now you've owned an extra x properties but your yield remains the same.
- mskeggs on 24/07/2018 - 18:05
  
  From the linked article he has $50m in property for $500k profit p.a.
  
  Sydney real estate is down 5% over the past year, or a loss of $2.5m in “equity”. 5 years of profit.
  Better hope he doesn’t need to refinance any from IO to p&i or the revaluation might sink him.
RealJustice on 18/08/2018 - 16:03

+1

I agree with ARudd, be very very careful when dealing with Binvested or any of the related companies. This is coming from an existing client.

We signed a Buyer Agency Agreement with them many years back and they will hunt you down for any property that you bought from the suburbs that they recommended. Any existing client will tell you that, once you are part of their client list, they would bombard you via lots of emails with many many suburbs that they recommend, regardless of whether you have the intention to buy in the region prior to receiving their emails or not. As long as you bought any of the property in the suburbs in their list going forward, they will hunt you down and you will be liable to pay for their full buyer agency fee. Are the clauses in the Buyer Agency Agreement fair or even allowed?

Is anyone here has the same experience?

Nathan Birch - Binvested

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