As you probably don’t really know the house values in another town it may not be a bad idea
to spend around $ 200 on a valuation.

It may save you money.

I would also obtain a builder’s inspection.

There is likely something going to be wrong with the house.

Better to find out now. On top of that you may be able to use the building inspection report to get the price down a bit more.

I would be happy to order the valuation for you if you like so that you pay the same (discounted) price as you would if a lender ordered it.

Pisces

Hey George, why not cancel your enrolment and thence go as a partner of someone else and collect the discount. Each person will save money !!

BTW I would prefer if you don’t send that bottle of whiskey through the mail.

I would prefer to collect it in person next time I’m in Melbourne.

Regards,

Pisces

I liked what Kristine (and some others) contributed to this topic.

However, Celivia said : “ I hope so, sis!
Jenman, in his newsletter, said: “After all, not too long ago, he was Henry Kaye’s partner.”

Celivia, you are casting aspersions on Mr Allen
based on (what appears to be) incorrect information. [blush2]

That is akin to character assassination !! [wink]

Being careless can get one into plenty of trouble. If I were you I would seriously consider making a public apology on this website.

Mr Allen was talking about having multiple streams of income and, who knows, one of these may well be to take people who character assassinate him to court.

I don’t know anything about a Jenman newsletter but from an article on his website I conclude that it wasn’t Robert Allen who was a partner of Henri Kay but that Jenman is talking about one of the people who previously promoted Henri Kay and he is the one who apparently has brought Robert Allen to Australia.
.
Even then we don’t really know (or at least I don’t know) whether that person was a ‘partner’ of Henri Kay or whether he merely had a business arrangement to drum up seminar attendants.

Jenman also posted an article on his website calling it “Speaking with Robert Allen’ and he further said “What follows is, to the best of my recollection, a record of my conversation with Robert G Allen. “

Being aware of Jenman’s selective memory (at least where it concerns wrapping) I would, on principle, be very hesitant to automatically accept anything Jenman says on face value as he has lost his credibility in my mind at least.

However, that particular article didn’t disclose anything other than that Robert Allen was too smart for Jenman. He refused to be drawn into a question and answer session. Who would want to if the questioner already has made up his mind ?

John T. Reed whom I suspect is the source of some of Jenman’s information is also not quite an unbiased party.

Both Jenman and Reed could be said to have reasons to run other people down. Jenman, we reasonably can conclude that his motive is to establish himself in the public eye because that will assist him in his business of selling real estate franchises.

Reed too has motives because he himself is selling courses and articles so he too would prefer that people spend their money with John T. Reed rather than with Robert Allen.

In another article, Jenman talks about wraps and gives the following example :

The wrapper will buy a home at its true value for $150,000 and get a loan at seven per cent. The wrapper will then load the price by $30,000 and “sell” it to a family of battlers for $180,000 and charge 10 per cent interest.

If the true value of the home falls by 20 per cent – to $120,000, the battlers will still owe $180,000, which is $60,000 more than the true value. Plus the loaded interest rate costs.

My question to Mr Jenman is whether he is also suggesting to his franchisees that they really ought to stop being involved in selling houses in a falling market.

After all, to utilise some of Jenman’s own words, Thousands of battlers are facing financial slaughter by buying a property now. (the last five words are mine).

If not, Mr Jenman, why not ???

Mr Jenman is also intellectually dishonest by portraying a wrapper as a rip off merchant based on charging an interest rate higher than they themselves pay.

Is he saying the same things about the banks and the finance companies who do the very same kind of thing ?

I would be absolutely delighted if he did and mentioned lenders specifically by name. I would think that it wouldn’t be very long before he would find himself in court being cleaned out.

Alan_Chong said in his post that “He (i.e. Robert Allen) has lots of property strategies which most people on the forum would be familiar with (ie flips, options, wraps, lease options, conversions, making money on the internet, stock market trading).
You can read his book ‘ Nothing Down for the 90s’ which has good material.”

Some people on this website may conclude from Alan’s post that Robert Allen actually detailed several of his strategies in his talk.

He didn’t really, it was more a sort of promotion for his seminar.

So go and buy the book Alan_Chong mentioned (or several of such books by other authors).
It will be worthwhile and very cheap compared with the cost of a live seminar.

The seminar’s basic purpose seems to have been to go fishing for seminar attendants.
I would say that he has succeeded in that judging by the number of eager people who queyed up.

My opinion about spending big money on a seminar ?

All the basic information can be obtained by buying a number of books and/or visiting a few websites, already mentioned in several posts on this web site.

Was it a waste of time attending the seminar ?

I don’t think so as one of the valuable things Robert Allen did give away (in my opinion) was some psychological information about ACTION. Action is the ingredient absolutely necessary for success and which most people unfortunately have a lack of.

If one had to pay $ 5 K for that one sentence (and the understanding what it actually means) it would have been well worth it (again, in my humble opinion).

[purple]Do I think that the people who will finish up going to his $ 5 K seminars are doing their money cold ?[/purple]

I would think that most of them (but not all) will not benefit from the information in a seminar as such because they wouldn’t be prepared to do the things necessary to do.

But what’s new about that ?

Unfortunately another problem for many people is the existence of one particular (very dominating) human trait which is that if something is given away for free (or for very little money) then its value isn’t really appreciated.

One interesting occurrence during the evening talk which I attended was that a sleazy woman stood up and said “Don’t listen to that man“ And “Why don’t you pay your creditors in America” and “Read all about him on Jenman’s website”. I think (not quite sure about that) that she also had a photographer in tow.

Personally I think that that woman was over the top and therefore cuckoo. Her little charade certainly didn’t appear to have deterred many people from wanting to sign up for Allen’s seminar.

I just realised that that crazy sounding woman whom I mentioned above may well possibly have been the president of the Real Estate Institute of (which state?) (which Neil mentioned in his post) but she surely mustn’t have seen the article on Jenman on the Real Estate Institute of Victoria’s website which carries a not exactly complimentary story about Jenman.

(Go and read it and judge for yourself how self righteous Mr Jenman actually behaves.)
It turns out that more than a hundred of his franchisees have sofar fled his organisation.

Pisces

>>I told my conveyancer I wanted it in the name of the trust, and couldn’t understand it must be in the trustee’s name.<<

A company can also act as trustee of course.

Pisces

The biggest mistake a vendor can make is to take the real estate agent in his confidence.

Avoid appearing anxious no matter how much of a hurry you are in.

Don’t tell the agent you MUST sell because it will cost you money.

Pisces

I remember, some thirty years ago, a friend was running around trying to find a backer for a Russian scientist (living in Australia) who had designed a method to break up water into Hydrogen and Oxygen and thence use the hydrogen to run a motor on.

My friend tried to set up appointments with many companies but found it very hard going.

One company he got through to arranged a meeting between their scientists and the Russian man where he would set up a demonstration.

The companies’ headchemist came to the meeting and then said ‘the place will blow up, we shouldn’t be involved in this’ whereupon he walked out.

End of demonstration.

Today I read that cars using hydrogen is a reality.

However, I believe that creating Hydrogen isn’t (at the moment) very cost effective i./e. it consumes more energy to run the process than the energy produced by the hydrogen.

I first heard about stories about new energy sources being suppressed some sixty years ago.
Yet, it would be in the oil companies interest to have new sources of energy on tap for when the time comes when the conventional sources (oil) dry up.

I also wonder what the Arabs will do when their source of income dry up ?

Pisces

>>I would recommend a Line Of Credit if you do decide to use your equity.<<

That isn’t very good advice you got there, Smooth. An offset account is infinitely better than a line of credit.

The main reason is that there could be tax complications with a Line of Credit account which can be avoided by having an offset account instead.

These detrimental situations arise when one deposits one’s wages into a Line of Credit account and one subsequently wants to draw some money out again for personal use.

Pisces

>>I have now put up a post asking for references for a decent mortgage broker. *fingers etc crossed*<<

Devilcv8, the moment you realise that the broker is a bullshit artist (for example when he makes absurd claims how he gets impossible loans by standing over lenders), run for your life as you are likely to deal with a pathological liar.

Dealing with a nutcase may cost one heaps in waste of time and costs and worse.

Pisces

>> I rarely use the No Doc or Private Lenders as I ball-bust the regular lenders until they do what I want.<<

That is your statement Rob, not mine.
You are the one who has to live with it.

The above can only be interpreted as stating that you rarely use a No Doc loan or private money because there is no need to do so as you [habitually] squeeze the balls of the lenders until they see it your suggested way.

You are now asking me what I mean ? I don’t believe one iota of the above, that is what.

You ask : >>Are you implying a lender will not change their mind?<<

A nice attempt trying to take the spotllight off your absurd claim.

Of course lenders can be persuaded to see it another way – sometimes that is, in exceptional cases -.

Not however as a matter of course which you clearly appear to state.

The only other person in the world who I could possibly imagine making a statement as outrageous as your statement about squeezing the lenders’ balls until they give in to your demand would be
Walter Mitty.

And as far as making an unsubstantiated comment is concerned I would have thought that it was you who made the absurd claim.

>>Notice the word ‘RARELY’ and how it was used before making an unsubstantiated comment.<<

Exactly. You used the word ‘rarely’ before making an unsubstantiated comment.

Nice of you to draw attention to that. What poetic justice.

Pisces