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I am a Future and Options trader at an investment bank in Sydney. The only way you make money on Options in any market is by getting the option to buy something at discount or sell something at over and above its actual price. Anything else is just a bet and hoping the market will go your way.
In the property market, its has to be moving fast in one direction to be able to make money on options…. or to get someone stupid enough to be on the other side of the transaction.
So put in plain and simple, unless the market is moving fast or suddenly jumps in one direction up or down. The only chance you really have of making profits in Property Options is to get some foolish person in on the deal…. if they dont realise how much their property is worth then you have the upper hand….
I attended the 5 day seminar in Mellbourne with Steven Molnar. The course information was very good and covered many topics useful to property investment. However the main aim of the seminar was to get you to buy properties from join venture of Empowernet & PlayGround Contructions via the "Property Search" product that costs $4850 to join.
We are trying to get our money back on the "Property Search" product as it is just a rip off and they do not provide anything that was stated in the original statements by the company. They quoted us that we would be able to save up to $30,000 on any of the properties they were promoting via the "Property Search" product. When the first development came out they started offering land blocks with 2 years settlement on the Ecoville estate for $189,000 for only a $1000 deposit. They didnt have any interest from anyone, so they dropped it to $159,000. Still no luck so they dropped it to $139,000. Finally in a last ditched effort to sell the land they offered $119,000 with 4 years settlement and $1000 deposit.
When they called me to ask whether I was interested in the development, I asked them why they had reduced the land down $70,000…? They told me that it was because the Victoria Government were going to release more land in the area. I informed them that I knew about this, but the news was issued to the public after the drop from 159 to 139. I told them i did not want to deal with such a dishonest company.I would highly recommend everyone stays away from the Empowernet/Playground Constructions venture as you will not make any money out of it. You are going to be ripped off from day one…!
