Hi,

Rick Otton used to sell them a few years back. Seems he still does (click link).

Regards,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi Leo,

Actually, I think it’s important to set the record straight.

The promise made to the TT viewers (which is verified from the transcript of the TT stories) was as follows:

1. That the chosen TT viewers would receive a selection of product that I had produced;

2. That they would receive a ticket to a seminar that I was running at the time;

3. That they would receive my email address, and phone number, which they could use to contact me one-to-one, for a period of 12 months.

These items were provided in good faith. I made no financial guarantees (such as becoming millionaires). I did say that, provided they were committed and dedicated, I thought I could help them to be build a better financial future (in generic terms).

Where confusion arose was with the difference between what I was providing the TT viewers (I think the TT producers called this their ‘Millionaire Challenge’), compared with what the people in my structured mentoring program (i.e. the MAP <where the goal was to acquire $1m worth of r/e in 12 months>) were receiving.

The two ‘streams’ of people arose because Ch7 approached me to include some of their viewers in the MAP. However, because the MAP had already started a few months earlier, and because several people who applied and had followed the application process had missed out, I didn’t think it would be appropriate to include new people based on being TT viewers alone.

I felt that doing so would be unfair to those that missed out and would also damage the trust that had built up in the MAP group over the first several months. Accordingly, I declined to include more people and instead offered what is outlined above to the TT viewers selected.

The ABC article that you mention is not accurate, and I wrote to them about this. However, they did not see fit to correct their errors. I didn’t actually provided Media Watch with any comment or statement – and, as I understand it, neither did any of the TT viewers.

What the ABC did do was inappropriately hound the TT viewers to the point of personal intrusion. When no ‘dirt’ was found, they editorialised their comment.

With this in mind, have another read of the story and look out for:

1. Comments taken from the TT stories. These are one line grabs over several stories, and, of most note, they left out what I promised to provide the TT viewers with.

2. Review the misquotes taken from me as they were taken out of context… they were from another conversation altogether with another person! (see below).

3. Review their editorial comments that are used to plug the gaps and paint the least flattering picture possible.

The quotes attributed to me come from a taped phone conversation that I had with Neil Jenman and were taken out of context. Neil ‘leaked’ these comments to Media Watch as part of his campaign to discredit me, and, then, as seems his want, wrote an editorial article on his website quoting the Media Watch story as evidence to suit his purposes.

Interestingly, this type of journalism (from Neil and from the ABC) is exactly the same sensationalism for which they criticise me and Ch7.

As for being ‘lucky’ to escape prosecution. I feel that I always answered questions put to me, from both TT, from the ABC, from Neil, and from others with complete honestly. It is the context to how my answers have been portrayed where the problem lies.

Now, to answer your question….

My interaction with the three TT viewers following the story was as follows:

1. Having received the product and seminar ticket, one group decided to travel overseas and did not take up the email/phone option.

2. Another group received the product, seminar ticket and then, a few months down the track, suffered a health set-back and wanted to change focus. I told them that they could contact me at any time and I’d be there to help.

3. The third group received the product, ticket and we met regularly over 12 months as I helped them with various business interests they had.

The ABC story mentioned that they told Media Watch that they had ‘got nowhere’. I doubt this was true, as, in the very least, all the viewers received the promised product, the seminar ticket(s), and were provided access to me for them to use as they wanted.

When you take out all the hype and name calling, what you’re left with is my promise to the TT viewers which, as outlined above, was faithfully met.

Regards,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

I can vouch for Compassion as a great organisation. We regularly recieve personal letters and drawings from our sponsor child – it’s great to hear from her and to read about her life and progress.

Regards,

Steve McKnight

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Remember that success comes from doing things differently.
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Helen,

All I can say is that I think your pre-judgement of me is misplaced.

You think it can’t be done with the resources I have budgeted to use, I think it can. Let’s agree to disagree and move on with the results being the true test.

As mentioned, I take your points on board. To prevent any confusion or misconception, I will send an email to all those who have pre-registered advising them of the current situation and also my plans to recruit further mentors as the program develops / as required by participants.

Regards,

Steve McKnight

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Remember that success comes from doing things differently.
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sarge_80,

There’s quite a detailed plan behind this concept.

It raises an interesting question… as a business owner, would you hire 30 employees without any customers, or wait until you have customers and then hire employees according to their needs?

Regards,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi there,

Thanks for making the post. I appreciate the time you have undertaken to write it, and for the feedback you included.

I have received a lot of similar feedback from others who have read my first book. I find this very rewarding, as I wrote that book with the goal of getting people to think and challenge the conventional wisdom of real estate investing (i.e. negative gearing buy and hold).

I regard having to work, caused as a result of poor money habits, as a form of 21st century slavery. The first step to breaking those bonds is to strike a vision for a different life.

Thanks again for your post and best wishes for a rewarding investing future.

Regards,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

While the templates have been disigned for Australia, they are still relevant for NZ.

The only difference is in the financial template where we make allowances for stamp duty which you do not need to worry about.

Remember, you can always trial the product and then send it back within 14 days of rceiving it if you don’t feel it is what you are after.

Regards,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

I’m most worried about the following issues:

1. Negative Savings

As nations, Aust and the US (incl. our governments) spend more than they earn. At a household level, this is only sustainable once the credit card has gas and then, once maxed out, life becomes a lot harder.

We have been inching closer to our credit limit for a while now and I fear that we are using one credit card to pay off the other rather than solving the spending problem through controlling our desires.

2. Retained Wealth

Following on, it seems to me that the recent property boom changed the mix in the way that households held their wealth from ‘realised’ to ‘unrealised’ means.

That is, previously households had wealth in the form of cash or ‘real’ equity in the form of homes with low debt.

Now however, after a property boom, a lot of wealth is tied up in unrealised property appreciation that is underpinned by high equity redraws where the funds have been used for consumption.

This is again not sustainable given falling property values will expose over borrowings and result in a net asset deficit situation.

In summary, instead of owning ‘real’ wealth, people have ‘perceived’ wealth held in a notional sense.

I don’t know if a crash will occur, but the conditions are such that our available credit won’t last forever.

What should we do then:

1. Try to change the way we structure our portfolios away from a highly leveraged position into a more moderate position (well under 80% LVR)

2. Monitor world events very closely

3. Avoid enmasse long-term buy and hold positions in property given the uncertain times.

My final comment is that it is okay to predict doom and gloom, but you must also try to assist people to find safety.

Oh, and very finally, it won’t be an event that causes a crash, it will be the panic reaction to the event that causes widespread financial losses.

Regards,

Steve McKnight

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Hi there,

The mortgage of $96k comes from:

1a. Value of house one: $80,000
1b. Loan (80%) = $64,000

**Note $40,000 house increased in value to $80,000**

2a. Value of house two: $40,000
2b. Loan (80%) = $32,000

**Purchased by refinancing equity of house 1 back up to 80% of $80,000**

Total Loan: $96,000

Hope this helps.

Bye,

Steve McKnight

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Remember that success comes from doing things differently.
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