Okay, heres one for the opinionated column!
Anyone have any positive aspects involved with the HK courses?
Any interesting theories that you found good? (all I know is that he was keen on buying OTP)
HK provided pack of information that I hardly finish it. He has the base principles called the 7 commandments to your investment success and yes I like it.
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]I have a client who didn’t regret it as it got him off his backside and he bought some properties.
He is now substantially better off than he was before the course.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Mel will be able to answer well because I think she did his course. I been to his free seminar and I liked it very much.
Cheers
[
]
PropertyGuRu
I want to be billionaire! [] I did a long post on a lot of things I got out of it in response to a question from Redwing. I’ll see if I can find it.
Cheers
MelOK. Found my post
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=7689
Hey RedwingI’m still learning stuff from HK, as I’ve got all my notes, and a set of DVDs of all the seminars he has run – about 8 sets all up I think.
Basically, I guess you could say the main thing we learned was that we shouldn’t listen to a bank manager who will maybe tell us that we could probably, if we were lucky, scrape through and buy another property sometime in the next 2 years.
We learnt how to structure our finances, how to do our research on properties, and how to sell each ‘deal’ to our bank manager, so that it was ‘deal’ based finance rather than completely on our ‘borrowing power’ as defined by their computer.
It also gave me more confidence in buying off the plan (we did it quite successfully even with a couple of major hiccups), and in actually buying more than one property at a time. We bought 7 in one hit, and 3 in another. Funnily enough, the 3 have outperformed the 7 by about 100%!!
I’ve also teamed up with a group of people who are looking at deals that return a minimum of 20% per annum on our cash, and the latest deal we have been offered works out to be a 70% return in 18 months, interest and profit share. There’s no way I would have even known that these deals existed, much less how to get in on them without doing Henry’s courses.
We also learnt how to secure long term tenants, at higher than market rates, and how to improve current rentals – esp in comparison to almost identical apartments.
Quite a few other things, but this post is long enough.
Part of an answer in same thread to Wrappack’s question
Secondly, yes, we did buy several properties off the plan, but we used cash deposits rather than deposit bonds. Some of this cash we borrowed off friends and family (and paid them a 50% return on their cash). We did also exchange on 5% or less. HK also teaches how to maximise the value of your current properties – sometimes by renovation, how to maximise the rentals etc., so I guess you could say we have made the money ‘on paper’ only. He also teaches how to get the best valuation – which is what a lot of the guys on this site have also been saying. Do your own research, provide it to the valuer, and 8 times out of 10 they will accept what you have provided – in the right format etc. of course.Structuring our finances basically means how we are set up (with loans etc.) and how it’s maximised. How you present you portfolio to the bank certainly can take a lot of the computer out of the equation. ie. To present a new property you are wanting to get a loan for, you present the proposal with a picture, a description, put in the amenities etc. etc. You put in comparable sales, comparable rentals, population of place (if not city), employment, rental vacancy rate. Then you put in your financials – perhaps with a PIA 40 year projection etc. BAsically a big folder with sooo much info that you will really come across as having done your homework. You also need to get to a person in the bank who can make decisions – not just a lackey who uses the computer.
The proposal is for any bank – but again, you need the decision maker.
Cheers
MelCheers
MelMelbear,
I readed most of your posted and enjoy it very much. You did HK’s couse and go out there do something about it. Which is very impressive.
Personally, I only went to his free seminars. Back then I don’t have that much money to do the big course. If I have money then I would have done his course as well.
I glad to see people like yourself with a lot of knowledge and spend a lot of time helping us in this forum.
Thank you and see you around.
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]No probs Chan$.[
] We only signed up on the interest free deal – paying monthly. We couldn’t have afforded it all up front either. However, we justified it to ourself by saying if we learnt enough to do one good deal, we would have more than paid for the course. We did a couple of good deals, and one not so good, but we still came out well in front.Cheers
MelHi Mel
I did the NII course last year with the exact same sentiments as you, in that if I only learnt one thing from the whole course that made me money it would be worth it. And it has certainly turned out that way.
I found the best reward I got from the course was meeting so many like-minded people who I still keep in contact with.
That’s not to say HK and NII were squeaky clean, but I don’t regret doing the course.
Brendon
Acute Mortgage Reductions
‘Better Finance for More Homes Sooner’Originally posted by melbear:No probs Chan$.[
] We only signed up on the interest free deal – paying monthly. We couldn’t have afforded it all up front either. However, we justified it to ourself by saying if we learnt enough to do one good deal, we would have more than paid for the course. We did a couple of good deals, and one not so good, but we still came out well in front.Cheers
Melyaeh, that’s what happened to my friend as well. He team up with other people and got a few good deals, but got some bad deal as well.
Anyhow he come out on top as well..
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]Mel and Geronimo,
Seems that you got in at the right time and made profits- well done :o)) But do you think some of the strategies you learned then would work in this market?
I think Mr Kaye wa into buying new properties, whereas with reduced rental returns and risimng interest rates, would you still buy new properties? Or would you move towards (cheaper) CF+ props?
kay henry
Originally posted by Geronimo:Hi Mel
I did the NII course last year with the exact same sentiments as you, in that if I only learnt one thing from the whole course that made me money it would be worth it. And it has certainly turned out that way.
I found the best reward I got from the course was meeting so many like-minded people who I still keep in contact with.
That’s not to say HK and NII were squeaky clean, but I don’t regret doing the course.
Brendon
Acute Mortgage Reductions
‘Better Finance for More Homes Sooner’it is nice to hear a success story.
Warm Regards
Chan Dollars
[The bridge between where you are right now & where you want to be tomorrow is knowledge]Originally posted by kay henry:Mel and Geronimo,
Seems that you got in at the right time and made profits- well done :o)) But do you think some of the strategies you learned then would work in this market?
I think Mr Kaye wa into buying new properties, whereas with reduced rental returns and risimng interest rates, would you still buy new properties? Or would you move towards (cheaper) CF+ props?
kay henry
As far as I read and learn from HK’s stuff, he does say of buying all new property, but yes he prefer property new or close to new with high depreciation.
Warm Regards
Chan Dollars
[The bridge between where you are right now & where you want to be tomorrow is knowledge]Hi Kay
Yes, HK does go for predominantly new properties, but he also discussed reno’s quite a bit, and how to get wholesale prices so that your reno looked the best for a cheaper amount. Also ‘older’ properties if you could get longer than normal settlements etc.
As for buying strategies, I actually do prefer a growth strategy to a purely positive cashflow. I probably wouldn’t buy for any less than a 6.5 – 7% rental yield, but wouldn’t necessarily be chasing the higher yields just to have it be positive.
I have made far more money out of holding my properties long term than I reckon I could do out of cashflow. I’m only 29, so I see that I will probably continue with some sort of ‘income generating’ work that I do myself rather than just relying on the properties.
I’m not looking to buy anything (other than Paddington) for at least the rest of this year. I’m rather highly geared (and rather unemployed[
]) so couldn’t really get a loan now anyway[V]. I’m sort of counting on the rents picking up over the next couple of years while I look at other avenues to provide the cashflow.Cheers
MelHK make million and still not bankrupt, that is the best aspect of HK.
Kind regards
Chan Dollars
[Retire Young, Retire Rich]
]
] 
]) so couldn’t really get a loan now anyway[V]. I’m sort of counting on the rents picking up over the next couple of years while I look at other avenues to provide the cashflow.You must be logged in to reply to this topic. If you don't have an account, you can register here.
