Prior to creating Investn, our Founder and CEO, Scott Fraser led the establishment of another buyer’s agent service, Buyers Club. Here we look at where Buyers Club has come from and the services they now provide.
How they got their start
Buyers Club was first founded in 2018 by Investn’s Scott Fraser and another experienced buyer’s agent, Samara Metri. Before joining forces with Scott, Samara was previously part of “celebrity property investor” Zaki Ameer’s Dream Design Property (DDP) team. Most known for their rapid growth strategy, DDP promised to help everyday Australians get rich quickly through property investment.
A key part of DDP’s strategy was requiring all clients to pay almost $15,000 upfront to access their services. Their agreement allegelly stated that most of this would be refunded if a client was unable to secure an initial financial pre-approval. However, some DDP clients claimed that they never received their refund and had to pursue DDP to recover their losses.
This caused significant reputational damage to Zaki Ameer and DDP, who were both featured on A Current Affair. It also led several team members – Ali Hallak, Matthew Wilson, Brendon James to name a few – to leave DDP and join Buyers Club. And it was the slick property marketing skills they brought with them that led to much of Buyers Club’s initial success.
The Buyers Club service
Now operating out of an office in Sydney’s Norwest Business Park, Buyers Club offer a range of services.
Their core business is working with investors to grow their portfolio and they primarily sell house and land packages. That said, they will consider established properties, but usually only for buyers who need a lower price point. For example, if you only have a $25,000 deposit, they may look at existing properties in more affordable locations, like Adelaide.
Much like with DDP – and many other traditional buyer’s agents – Buyers Club clients usually need topay their agent fees upfront. These are generally close to $15,000 and cover investment strategy development, property research and selection, and purchasing support.
Buyers Club’s other main service is buying investment properties via a self-managed super fund (SMSF). Aspart of this, they partner with a range of third-party providers who can help investors set up their SMSF. If you’re considering doing this, we strongly recommend also consulting an independent licensed financial adviser about the suitability of such an approach.
Supplementing their buyer’s agent offering, Buyers Club has also established Buyers Club Asset Management and Buyers Club Projects. Buyers Club clients can alsoaccess conveyancing services through Metri Legal, a law firm operated by her brother, Matt.
How Buyers Club helped create Investn
After helping get the company off the ground, Scott Fraser parted ways with Buyers Club in 2019. This was largely because he saw the company’s offering as very similar to that of every other buyer’s agent service. And, as his main aim wasto disrupt the market, he decided his efforts were best focused on new investment models.
Specifically, he wanted to find a way to better support new investors to get into the market. And he knew that the main barrier for most people was the substantial savings traditional investment models required. Thus, Investn’s unique co-investment model was born.
By partnering with investors to purchase new and established properties, we’ve helped many people start their journey toward financial freedom. We’ve also changed how many people see the property market, making it far more accessible to everyday Australians. And our offering has been a realgame changer for those without substantial savings, opening many new and exciting opportunities.
For more information on Investn’s services and how we can help you achieve your property investment dreams, call us on 1300 446 445.