Inside Track/Instant Access Properties

Jorgan_2

Theres different types of companies out there. Some will sell you a course & reveal all the secrets of buying property, others will actually buy the properties themselves or on behalf of their members.

With the first one, there don't appear to be many 'secrets', just a bit of lateral thinking. For example 'how to buy a property with no money down.' You find a vendor or new build willing to discount the property for 15 -20%, offering this incentive as a cashback, contract price is the 100% figure, you in effect have a 15-20% deposit, as long as the figures stack up, you can buy the proprety with no money down.

In the second case scenario, the company approach a a developer wishing to purchase, say 10 apartments in a development of 30 apartments, they get a discount for buying in bulk. Some of this will be passed to the members when they buy the property.

hethmar

Im sure you must in your heart know that if its seems to good to be true ...........

These people make a fortune out of others who dont question and dont want to work hard to sort things themselves. If you are happy to do that - but it would break my heart to pay £119 per month for someone to just scan estate agents lists.

Stick with your local area so you know what is worth money and what areas are no-go.

BobProperty

Kaminari wrote:

I think Russ Whitney has tapes/CD's. He is American and runs a company like Inside Track so be careful of the whole "give me £2000 and i will give you billions" rants but i have found his books and motivational work to be helpful.

I am just concerned that you do not seem committed enough to do the work involved to create a successful portfolio and looking for a get rich quick method. Successful property investment is generally good and stable as long as you build strong fondations and have long term goals. You must have the ability to research and understand the numbers even if you buy through sourcing companies, remember that it is their job to sell so it is even more important to do the numbers. If you can't be bothers or don't have the time then i think you might be better down the bookmakers.

Russ Whitney - I know that name http://www.johntreed.com/ReedonWhitney.html
Oh dear :eek:

samspam

I wouldn't buy from Instant Access if I were you, as someone else mentioned you will be in rental or re sale competition with the other instant access purcahsers, as with any of those investment portfolio companies.

We have sold properties to Instant access and I have dealt with the purchasers afterwards. Many of them don't have a clue what or where they have bought and don't even collect the keys. If it a large block of apartments then most of them remain empty, thus dropping the potential rental and I know that some of them have had to sell for less than they paid.

If you want a deal on a new build, go to the sales office directly. There are always year end / site end deals to be had. I sold the last remaining 4 bed houses on my last site for as much as 30k less than the first ones had been sold for. And they came with carpets, turf and lightfittings and weren't necessarily bad plots.

clutton_2

Inside Track used to get a lot of criticism on https://www.singingpig.co.uk (which is an excellent property/shares/business financial freedom discussion website).

Inside Track threatened the owners with court action if these criticisims were not removed. Why would an honest upright company be scared of poor feedback from a few customers ?

There are many many folks who have bought new-build, off-plan and regretted it - some are now subsidisiing their own investments, as the rent does not pay the mortgage (where is the sense in that ?) This works in a fast-rising market, its not that now. Inside track makes most of its money from seminar fees, rather than property. There are NO secrets to buying property.

As someone else said, if you can't shift yourself and make an effort, then you will have no one else to blame if it all goes pear shaped.

I researched, networked, read, asked questions, joined forums, looked at property for over a year before i bought my first one. Then i worked 14/7 for well over another year !!! no one makes a lot of money without a lot of input !

property is a people/negotiation business - if you like both - go for it , do some research and enjoy it.

You will NEVER get the same satisfaction if you pay someone else to do it for you, AND you may get rippped off

Jim_B_3

http://money.guardian.co.uk/property/buyingtolet/story/0,,1832405,00.html

Huzzah for the Grauniad.

clutton_2

Tony Levene has been writing articles about Inside Track for the past 4 years, good look to the man. IT has THE most litigious lawyers in London, and many journalists/newspapers are afraid of them. GOOD ON YA TONY !!!!!

mystic_trev

Will_it_make_me_rich wrote:

This company didn't sound too bad as they find you properties that should be good investments.

Good investments maybe......but for whom?

From todays Guardian

"The latest accounts filed at Companies House show Instant Access made pre-tax profits of £12.1m in the year to April 30, 2005, up from £8.2m the previous year. The company paid £5m in dividends to its four shareholders"

mikeyw

Well i've just been on the same seminar today and really enjoyed it but they use examples of people over the past 4 years when lets face it my grandmother could have made a quick buck on houses.

A lot of what they said was common sense ie buy property with other people's money not your own and don't bust a gut to pay your house mortgage off use that equity to make money on other 'boxes' (as he called them)

I'm still going to buy another property as a tidy up then BTL as I don't think over 5 -10years you can go wrong but will do so under my own judgement.

As for the impending crash / correction we're all still waiting....in 12months time will I be ble to buy property cheaper than now ?...i'd be very surprised.

I think people joining inside track now may find it not as easy to make the money people may have done over the past few years.

Norbert_Colon

http://www.johntreed.com/ReedonWhitney.html

John T Reed's site is an excellent read, I like his dry wit and the way he argues that honesty is the most profitable policy.