hi all
i attended one of Henry Kaye’s free seminars(the presenter was Steven not Henry himself) and have been to 99 Forbes St. to have a face-to-face talk with one of their consultants. anyway his companies went into receivership before i made up my mind as whether i should pay so much money to get educated.anyway it came to my awareness that ACCC and ASIC didn’t mention anything about HK’s personal achievements. In his ad, HK said he secured hundreds of millions worth(i can’t remember the exact number though) of properties with 4 years or so…
was that true and provable? did he know some “secrets” that most people don’t know which empowered him to do so?
thanks
hisshoHi,
It’s not hard to ‘secure’ property.
Pay a few thousand for the option to buy it at an agreed price and, hey presto!, you’ve secured it.
I’d imagine that HK did as he proclaimed, as the ACCC must have investigated this on the basis of if it did not occur then it would be false and misleading advertising.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
thanks Steve
yes it’s not hard to “secure” one property, but is it a walk in the park to secure properties worth hundreds of millions? what was Henry Kaye’s secret, if any? i’m just a newbie and have to admit that i don’t know…
happy new year Steve!
hisshoHi Hissho,
Happy New Year Back…
Well, call me a cynic, but let’s say that you have a property with a maket value of $1m.
I come to you and say “Here’s what I’ll do… I’ll pay you $10 for the right to buy the property for $1.5m, open for the next six months.”
What would you probably say to a boffin wanting to pay 150% of market value? Yep – done!
Then what I do is run a seminar and sell the property I’ve secured the right to buy for $10 on the basis that it will be 5 new A-Grade apartments.
My budget profit, even after paying the inflated price, is substantial – provided I can find the people to buy from me after value-adding. When demand drops what do I do, maybe run some more seminars…???…
The bottom line – I have tied up $1.5m worth of property (after all, if I paid that for it it must be worth at least that) for just $10.
If I can’t sell the concept then all I lose is $10.
Starting to get the picture?
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi Hissho & Steve,
Though also what HK did was, offered 5 years guaranteed rent. Because the property was X amount over valued. The rent over 5 years was built into the New Selling Price, in actual fact, he was just paying you back the X amount of rent that was pre caculated on top of the selling price.
Also if you were the buyer, and HK offered you guaranteed rent for 5 years…. would you be fooled to take that offer….. Many people did…
cheers,
s.i.sThe other thing is – it did not look like you were buying HK’s property. It was a separate company who ‘dealt with developers’ and negotiated discounts by taking out the developments etc. – students were offered the chance of a ‘finders’ fee if they could find a good site for this company to then tie up – giving even more ‘credence’ to the fact that they were a separate company etc.
It wasn’t until early last year that I really twigged that they were selling HK’s own properties when they started selling ‘Oasis’ in St Kilda Melbourne – which were the units he secured for $88.2M using ‘none of his own money’. I was never interested in their properties anyway – but they keep ringing me – even a couple of weeks ago! – and this just sold it for me that I was right not to want their ‘discounts’ (hah!)
Cheers
Melthanks a lot folks. very much appreciated.
cheers
hissho
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