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  • Profile photo of CarolynCarolyn
    Participant
    @carolyni
    Join Date: 2005
    Post Count: 5

    What a brilliant 5 days we had with Steve in the most comprehensive, intensive and inspiring training that we have completed. We have invested very significantly in education and I have recently graduated for the Property Apprenticeship in 12 months. With knowing the volume of work in the program, I thought it was impossible that Steve could do justice to the course. But Steve did not disappoint. The program across the 5 days provided a unique opportunity to identify how all the parts fit together and to clearly differentiate how important aspects such as mindset and strategy, management and selling are – areas that are often missed by other educators and from our own experience the keys to successful investing. Steve’s experience as an active and sophisticated investor having completed deals across many different strategies and confronting a wide range of experiences, allowed the sharing of practical solutions to bring light to the concepts covered. Jason did a great job in supporting Steve with teaching some of the sessions and Romy is the ultimate conductor with all going to plan. Thanks to the team in pulling together a great event.

    The energy, focus and momentum in the bootcamp were brilliant with the most advanced group of property investors that we have had the pleasure to be part of. There was a real sense of cooperation and support within the group and we are sure that there will be many new friends that we will remain in contact with.

    Would very highly recommend this program regardless of your experience level. For new investors, it’s an opportunity to get the A-Z of property investing so that you can start off applying a comprehensive approach that will set you up for success. For more experienced investors, it provides an opportunity to revisit strategy and its alignment to your goals, to reassess your effectiveness in what you have been implementing and to identify improvements to run your investing as a business. Personally there were multiple take-outs that we have from the program which I know will propel our investing to the next level.

    Thanks Steve for sharing your wisdom. It is so inspiring to see how at peace you are with where you are at and the strength of the relationship with your family. We feel very privileged to have had the opportunity to be part of the Bootcamp.

    Profile photo of CarolynCarolyn
    Participant
    @carolyni
    Join Date: 2005
    Post Count: 5

    Hi Roach
    Not sure if you are still weighing up the option of NZ, but will share with you our experience. We have several properties across 3 provincial towns (north and south) all purchased in 2011 with the objective of positive cashflow and market growth. We have found the cashflow to be marginal at best – insurance, rates and maintenance costs all seem high and any increase (like insurance premium increases or unexpected maintenance) can make it negative. And when you think about the numbers, generating a 10% return on a $100,000 property is hardly anything to write home about. Older houses(there are a lot) mean poor insulation, unexpected maintenance and cold/ damp which means that tenanting will be harder. Councils may place requirements on landlords for removal of wood burners (due to pollution) so there’s extra cost. Interest rates have started to fall but in the last 1-2 yrs there were multiple rate increases. The Reserve Bank has been playing a lot with lending policy to try to take the heat out of Auckland. But there is no stamp duty and banks will lend to you so that makes buying there easy and cheaper than here.

    On top of this, the biggest issue we have found is that there has not been the capital growth in the 4 yrs we have held most of our property. This is at a time when the NZ economy has been quite strong and Auckland has been booming. Growth was restricted to Auckland (and Christchurch post earthquake rebuild). Some of the towns closer to Auckland have recently started to get some benefit of the Auckland boom. So if you are looking at NZ (or any property market) for buy and hold would suggest that you understand what will drive the demand through population and jobs growth so that you get to ride the growth trend. More likely to have some success rather than just hoping that there will be market rises.

    All the best
    Carolyn

    Profile photo of CarolynCarolyn
    Participant
    @carolyni
    Join Date: 2005
    Post Count: 5

    Hi
    I have just completed the MAP program within 12 months after having invested significantly in other property education courses. The level of sophistication of the teaching in the MAP course is greater than any that I have completed. It is not focused on the individual property strategies (such as how to do a reno or a development) but comes from a more systematic approach as an investor as well as key pieces such as investing mindset.

    In response to Sev’s and Benny’s question re outcomes. The goal of the program when I started related to $ value of property transactions relating to the group within the year.

    For me during the program, the focus has been on repositioning our investments to secure a higher return from a property portfolio that was already of a significant size. The focus of too many other programs is on buying property however they lack the focus on measuring, monitoring and managing performance and determining when to sell. So this is what I have done in the last year – I have systems that are in place so that my investing is now managed as a business; I have sold/ am selling property to redeploy funds to achieve a higher return and I am more confident about what the next property purchases need to achieve to hit my goals. These purchases will be for lump sums and not passive income – I have gone down the passive income route and the speed (low returns) or risk (mining towns) means as Jason has highlighted that it is difficult to achieve a reasonable passive income without a very significant portfolio (or level of risk).

    So I didn’t rush out and buy a whole lot more property as a result of doing MAP – but I believe that the changes I am making to the portfolio and how I manage investing through the insights achieved through MAP, will set me up to be a more sustainable investor which is the outcome that I am looking for. This is knowledge that I wish I had when I started investing but I am grateful that I have acquired it now through MAP.

    Profile photo of CarolynCarolyn
    Participant
    @carolyni
    Join Date: 2005
    Post Count: 5

    Hi Rach
    The Nov session with the RESULTS team is a great idea – I'm sure that you'll get tons of info from it to further cement your thinking. You'll also be able to get a feel of the coaches themselves and make a call from this as to whether they are a team who you can have confidence in to mentor you. Good on you for thinking of starting investing young and before you get in debt to your PPOR.

    We did sign up to Early Bird last year – but we didn't pull our finger out anywhere near early enough to make the most of this. We wish that we had this time again as it would have allowed us to have fast tracked our involvement in the program proper. It meant that when we could access our coach from July, we were still reading – not ideal! The guys focus a lot on goal setting at the start and breaking down your longer term goal into your 7,30,60,90 days as well as the strategy that will get you moving toward these. Another learning from our end – we didn't apply these disciplines systematically for quite some time – and have noticed how our investing has really started to take off with the focus that we now have really through goal setting and an accountability team that we are part of.  We're very much on the property investing journey still rather than being established already – and we are still making some mistakes  and learning from these.  We're having lots of fun doing it all – which is great!

    With living in Coff's it will mean travelling to Syd or Mel for the Get Togethers (4 in total a year alternated between cities). It means that there is additional cost but the benefit of being able to catch up with the coaches for the session and the broader RESULTS community outweighs this in our view. For access to your coach, you can do this all by phone (which is what we have done). People involved in the program are scattered everywhere across Aus (and a few fom NZ)  so I wouldn't let the regional area put you off.

    Have a great time in the November session
    Carolyn

    Profile photo of CarolynCarolyn
    Participant
    @carolyni
    Join Date: 2005
    Post Count: 5

    Hi Edmund

    We too were looking about 18 months ago about how we broaden our understanding of property investment after only having purchased a negatively geared property.

    We signed up to the RESULTS program starting July 2010. Since then we have purchased multiple positive cashflow properties in NZ, Australia and the US. But more importantly we have walked away from many deals because from the program we know what will be a lemon. We know how to complete due diligence – which comes back to the numbers but involves much more than this.  We can contact our coach if needed to walk through our analysis and thinking.

    The RESULTS program is one year’s duration and we’ve also signed up to the graduate program for this year based on what we have got out of it.  The program involves access to a coach as well as self-paced learning supported by webinars and quarterly get togethers. The coaches are active property investors with a range of skills between them. You get a designated coach with access also to an expert in property development if this is the strategy that you are using.

    A few things that we thought we'd mention specifically from our experience:

    – The goals and the mindset that you have play a large part to your success and we have found that our confidence and focus continue to increase with the program

      You get the skills to do to the work yourself. The coaches will not do the work for you however will support, question, guide and challenge you so that you make the calls that work based on your goals.

      The program focuses on education rather than the coaches securing commissions or kick backs for referrals or things that they on-sell to you. This gives us a real level of confidence about the integrity of the program.

    – The Get Togethers are great – both from a content perspective but as importantly in getting connected with like-minded people. The group inspires us enormously (you get to hear about the deals that some of them are doing) and helps to push your thinking or action further along.

    – The program is big on accountability – we have formed an accountability group with a few participants from the program so that we can provide each other support as well as track our progress against our goals and actions. This has helped to further boost the success we have had.

    Their website is http://www.resultsmentoring.com – there are several testimonials on the site which will give you different impressions beyond ours. From our experience, we feel that we have got a return on the investment that we made through the program many times over.

    Good luck in your investigations and property investing.

Viewing 5 posts - 1 through 5 (of 5 total)