I too found the game a little disappointing, but I factored into the game that the people on my table do things differently to me, so no planning could be done, that I was trying to get the others on my table to do the work so as to avoid it my self because of fear.
Fear I might look stupid. But when I did get into it I really felt empowered. I thought that having 4 vendors might have improved the game so some deals could actually be done. But that is supply and demand I guess.
I didn’t actually get any deals done because I wasted my time instructing others what to do, that when I finally got a chance to negotiate with Dave I ran out of time, but those few minutes really have made a difference. I am still nervous but I have been on the phone to agents trying to conquer that fear.
Look at the game and think of the positives that came out of it like, did you successfully match any of the tenants with a strategy that suited their situation. EG Sooshi was a lease-option and Brendan was a renter etc. I know I felt like I got it, at least a little bit[].
Keep your chin up that way you can see where you are going[][][] … I just made that up and think it is really funny[].
EVERYBODY CAN FIND THEM … You just need to look not just see.
I would highly recommend any of the Bradley McNight Group (Steve & Dave) reading and audio material to set you in the right direction.
By the way I have got 11 properties printed and sitting on my desk right now that either meet the 11 sec sol, blitz it or require a bit more creativity to make them blitz it. They are all found on RealEstate.com so if you are quick you might just beat me to it.[][]
best of luck, stay heartened you will find one and you will feel great when you do (even if you dont buy it).
Since Julie hasnt had her baby yet I know her and Steve will still be asleep[xx(] I’m up with my 2 year old looking at breakfast cereal.
Guy’s, I truely had the greatest time this weekend. And like many off you my head is still swimming for the abundance of information, I think if you didn’t get your answers you didn’t use your time well.
As for favourite speakers well wjo could go past the Geoff Dodgy and PaulE slick (for those at our table) what a dynamic duo, we will be up to Brisy for their cause when we get serious about Reno’s. Stuart the Gorilla, you scared my pants off buddy, I think I am only an apprentice Gorilla because my brass ball are not as shiney as Stuart’s. Lauren Burn, wasn’t she a brilliant speaker, her story was so personal and so funny very inspirational.
I met so many great people, and Shooshi and her 9 kids (4 boys and 3 girls and 2 ???) was a pleasure to meet, I regret not catching up with AD but we will another time but surfice to say Andrew your contributions are immencely appreciated. I didn’t match a lot of you up to your forum alias but I had a fabulous time talking to every person I met.
OK, at the very end of the night Steve made Del (wilandel) promise to cut her hair off if she didnt make her goal. I was thinking all night what can I lose if Matt and I dont make it to our goal, so I have decided to share our goals with you up till Dec and put my reputation on the line. We are seeing a new accountant this week (Dale GG) and setting up our line of credit next week. I am going out to our target area and spending a couple of day there doing detailed research and house hunting and relationship building mid june. We will purchase a positive cashflow property and settle no later than July 31 2003. Most likely it will be buy and hold, although we are now definately open to more options. We will then proceed to purchase 2 more positive properties by Dec 31 2003, finishing the year on 4 IP’s with the one we already own. We will then review our progress in Dec and review/plan our strategy for 2004.
So there.
My fear is fear of inaction … I am going to overcome this by ‘Just doing it’.
And finally, (sorry for being so long winded) if you didnt get to the APIM you can still learn what we now know through the other brilliant resources that Steve and Co have developed eg: Fast Track, Property Secrets Revealed, Buyer Beware and Wealth Guardian, these are a small price to pay for the wealth you gain in knowledge and someone else’s experience.
Thank you everyone, I will keep you posted on our journey.
PS: I didn’t apply for the master apprentice, because that was a hurdle to me, Matt and I are going to do it for us by us.
Cheers
Leigh K []
Sorry for the spelling I am still frazziled.
I am so glad I already have my initial appointment booked with Dale for next week, otherwise I wouldnt get in to see him with the amount of times he has been recommened here.
I see his name pop up in all sorts of forums and news letters for property investors. He seems to be highly regarded in tht industry.
Try doing a search because I posted this same question a couple of weeks ago, cant remember the detais just now. It was for the Churchill area near enough to Traralgon.
So u were saying they dont tell u anything useful about your financial situation in this free appraisal?
Not really, well not anything your bank or accountant cant tell you, at your house they gather information at their office they say eg: how much money you can afford to borrow. They tell you the virtues of negative gearing and explain how you can own 10 in 10 years.
quote:
DOes Philco sell you properties?
If you meet their lending criteria and they can get you to sign, thats their job.
We went to one of his “FREE” seminars about a year ago and “WON” the home financial appraisal – Wow how lucky[]! (Later on we found out our friends that went with us also WON! Hmmm!
Any ho, the home appraisal is the same as all the other saps we let into our home over the years in the search for knowledge. They gather ‘your’ details and recap the points from the seminar. They say we openly answer all questions, and the answer to all questions is ‘they’ we go through that for you when we have completed the appraisal on your financials. Basically!
The laugh is that you have to pay between $500 and $1000 in order to be able to go to the next stage, the office report. We never laid our money down with Philco but have with another company that I expect were no different. Our reason for not meeting with the Philco team was because the independant RE business and the independant financial broker and the Philco sales team were all part owned by Phil from Philco. I think the rest was owned by his sons, but know I am struggling to remember that bit.
In Summation, they are a bunch of people selling overpriced negative geared properties to mum and dad investors that haven’t learnt any other way yet.
You gotta get that Wealth Guardian out on the streets, I feel so fortunate[] to have received an early copy but sorry[] for those that keep asking this question.
Thanks for your funny and informative feedback. As for CGT I understand there is no CGT in NZ however, you pose an interesting point … How is a capital gain viewed in Australia when it is obtained in another country?
What about trips OS for example New Zealand, is this deductable, to view rental properties that you have there? Say visited once or twice a year if that!