Forum Replies Created
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Could anyone refer me to any reading material about the benefits and/or the downside of purchasing property as a superannuation fund – it has been mentioned that there are considerable tax benefits in doing this?One thing I can think of is that generally u cannot borrow money when you purchase via a superfund, so you will have to put up the full purchase price.
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I remember at one of The Investors Club meetings a few years ago, someone said something like ‘I rent my son’s property, he rents mine and we both have an excellent tenant’. Seems to make sense if it is where each wants to live and you can always change back if it isn’t working out.I was at a seminar as someone asked if the “i rent from my son and my son rent from me” arrangment is okay. The presentor said the taxman keeps a very closed eyes on renting between family members, so be very careful if you want to do something like that.
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Hi ansonlauI found this article where Jenman does give his version of why Wraps are unethical:
http://www.jenman.com/NewsNews1.php?id=120
Other than that, I don’t have any comments on Jenman, except to say that he is indeed similar to John T Reed.
Cheers
MelMel thanks for pointing that out. Obviously everyone has their own opinion about Jenman, Kaye, Spann, etc. I started the topic to get something off my chest (which is what ths Soap Box is for!). Done that and that’s the end of my arguement.
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It’s weird that you say you don’t know anything about Jenman’s system but you are sick of Jenman.I was very clear in saying I was not having a go at his system, but the way he goes after other people.
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Tell me some facts about the facts he has written that you have a problem with.An example of Jenman’s article that is high on emotions and low in facts:
http://www.jenman.com.au/NewsArticles1.php?id=54
“But even if his information was free, Mr Otton’s wrap concepts would not be ethical. Wrapping is about exploiting battlers and placing them in a position of high risk… The reason is simple. Wrapping is a rotten concept, Mr Otton.”
Has he say why it is not ethical, why it is rotten? How does it exploits battlers? Never mentioned. Now “rotten” is a pretty strong word to use, I would like to see him back it up by explaining why it is rotten.
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How can you stick up for the crooks? (Unless you are one).Who are the crooks? Are you saying all the seimnar people are crooks?
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Not an ounce of thought or compassion for the victims.People who were geuinely ripped off I do have a compassion for, like if you paid money to get something and the other party ran away, or didn’t give you what they promised.
I believe people need to be responsible for their own decision. If you decide to pay substantial money to attend any of these seminar, and the seminar has taught you what they say they would cover, then it has done its job.
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If his stories are not true, why has he not been sued? Good point?You are right, his stories (where he reports people who are wanting their money back from various seminar people) are probably true.
But I ask the question: a few people not happy with the seminars and want to get their money back – does that mean it is a scam? that the seminar people are ripping you off? and that they are crooks and liars?
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Yes he promotes Ethics in Real estate however he also trains people to be proffessional real estate agents and he want the industry to be recognised as proffessionals is that a bad thing.I would like to know specifically what is so very “Ethical” about Jenman’s system.
Jenman believes agents should be professional and get the best price they can for the vendor. Nothing wrong with that.
Real estate investment people teaches investors how to become professional investors, how to negotiate better price, better terms and conditions, how to find and identify “good deals”, etc. Nothing wrong with that either.
It’s just the two sides of any transaction, you want to know how to get your best deal whether you are the vendor or the purchaser. I don’t see why one is ethical and the other is not.
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He helps stuggling agents to be more profitable.There are also people who benefit tremendously from real estate investment seminars.
Btw, I’m glad he’s helped your career.
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Once and for all you are having a go at a person and a system that you no nothing about.1. I did not have a go at the Jenman system. I don’t know anything about it.
2. Yes I am having a go at Jenman because I find the articles on his website very unprofessional, written in a way to defame other people, full of emotions and low in facts.
3. In fact, I wonder how much Jenman knows about these seminar people – has he attended some of those seminars, find out enough before having a serious go at them?
Thanks all I’m going ahead with the housing commission area deal!
thanks westan. is it correct for me to do the following:
1. ask the agent to send/fax me a copy of the contract asap.
2. have my solicitor look over the contract and make any changes to it (eg. lower deposit), subject to building inspection, etc.
3. send the contract back to the agent, and get a builder to do a building inspection.
4. sign and exchange contracts.
?
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check you have financial approval if you are getting a loan. it looks like the agent is asking for an unconditional offer this means you cannot get out of it. unlike an offer subject to finance which you can. the seller would insist on this otherwise you may back out and he has cancelled the auction thinking you will buy it.I havn’t got any pre-approval yet. I was planning to get the contract signed and then go to arrange finance. I’m buying this with a JV partner and even if I could not obtain finance she would have enough money/equity to settle it. My question is, is it too late now to put in the contract “subject to purchaser obtaining suitable finance”? Secondly should I always try to get a pre-approval? Since I don’t have a track record wouldn’t the banks want to see the contract before giving you any real approval?
Thanks.
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would you say these gurus are high on facts or retoric???I’ve listened to some seminars (live and recorded) and I actually believe a lot of these seminar people tell you their tried and used investment strategy. Problem is implementing most of these strategies takes a lot of time and for those who has a full time job, the don’t have the time and time flexibility to implement them.
Actually I want to know how people who has a full time job allocate time to do property. That’ll be a new topic.
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Ansonlau – methinks you should spend some time at the ASIC website regarding Henry Kaye. He has officially made ASIC’s sh#t list.
Yeah I read just about all the articles from ASIC about Kaye, all I can find is:1. He says he’s ASIC approved when there’s no such thing as ASIC approved.
2. He teaches Mezzanine finance which he’s not licensed to do.
Not quite as bad as what Jenman says he is?
Compare Steve’s site and Jenman’s site, you’ll see Jenman’s articles are strongly biased towards his own business, uses a lot of words which plays on people’s emotions, and aggressively puts down other people. Steve’s site contains straight info about his own strategie and business, and promotes open discussion.
aussierogue – contrary views and critics are fine, that’s what these discussion forums are for. I just think Jenman’s articles are heavy on stirring up the public’s emotions to his advantage and minimal on giving us facts, which critics should be doing.
Thanks guys for all the responses. I just felt like getting this off my chest.
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i think he is ok. imagine what the world would be like if we didnt have people who question the motives of other people / organisations etc
I don’t have a problem with people not agreeing with each other. In fact I bought Jenman’s book “Real Estate Mistake” and thought some sections are useful even for a property investor.quote:
just to prove the point ansonlau, you are doing to jenman what jenman does to the others. being critical. thats ok as long as yr points have substance. we are all part of the system.
Yes I am being critical of jenman but I am not doing what he’s doing which is defaming other people without much substance behind it. He has reported a few sad stories from other people, but if you read the articles he’s written (an I’ve read through many of them), they are simply personal attack on others, repeatedly calling others “crook”, “liar”, etc.He goes after Henry Kaye every week and yet I havn’t seen any true facts from him saying what exactly is wrong with Henry seminars. He criticise Steve McKnight’s “wrap” strategy and say it’s unethical, and when someone says to him you can structure wraps in ethical, win-win deal, his response is simply “you cannot make an unethical strategy ethical” (or something similar). No real facts to support it.
