I am just TRYING to start out and have been to a seminar about Dolf Deroos who is linked to “Rich Day Poor Day” Robert Kiyosaki. They were offering a package deal for $3,000.00 with cds, ect and also a computer package that virtually makes you money. It tracks your propertys and lets you know whether you property is a good investment and sets outs your Due diligence. Is this a scam?????
I haven’t heard of it, did you attend the seminar last weekend in Melbourne? I guess you have to start somewhere, and as long as there is some form of income to keep the bank happy, once you get a positive cash flow happening with a buy and hold, hopefully you will be on your way. There should not be any discrimination re single mums investing, go out there and show them you mean business! Good luck with your ventures.[
]I’m from the Sunshine Coast and have not got a great dal of equity in my home to start out. So I’m limited in what I buy. I have been looking at the Mackay area? Any ideas?
Hi Sunnigirl
I’m from N.S.W. and was advised to invest in the Beenleigh area in QLD. On a recent holiday to the Gold Coast I spent time in the area and was taken around by an agent. I found it fantastic and cashflow psitive. I have purchased two properties in a block of twelve for $69000 each, returning $120 a week each and hoping to return more in the near future. I am also a single mother with limited equity in my home but I know this is achievable. Best of luck to you, you can do it.
sunnigirl,
please dont buy this package. you said you dont have much equity – $3000 will go some way to helping with costs. you can learn just as much from the Kiyosaki books if you want to read and follow his philosophy. there is a wealth of information and ‘tracking’ tools out on the web for free if you just look for it. there are probably some experienced investors on this board that may have stuff they can send you as well.
personally i work things out manually. dont know why. just do. im sure you can learn how with enough research, that way you will also truly understand it. the only way the software package virtually makes money is for the people selling it.
cheers
Todd O’Neill
http://www.meteorpartners.com
‘Move to the next level’As per last comment, don’t buy it!
Overpiced and to my way a pyramid scheme, i have posted about this before.
the idea is to on-sell more packages to other suckers etc etc.
What you get in those packages is a a fraction of the cost in bookshops or even try the local library or read as many of the postings as you can.Unfortunatately its a case of get rich slowly and safely and above all, educate yourself in many less expensive ways.
I am disappointed to see dolf De R doing this as his books are really not bad.I would have thought he was wealthy enough without having to resort to this.It’s a group called Nouve Riche that are pushing the program. It’s called the REAP programme. I was really impressed with what the hade to say and agreed about investing in real estate, but I didn’t want to spend $3000 on the package, maybe if I already had property and wanted to expand and had the spare cash, but at this stage I don’t. I do agree about getting educated, which is a slow process, but I’m getting there.
Hi Sunnigirl
Dont Let being a single Mum stop you. I am a single Mum and live in Hervey Bay Qld and in the last 5mths Purchased 4 propertys with No. 5 property in the works. You just have to be prepared for people to say no you cant do what you want to do but then turn around and say Thankyou but I will find someone that can help me.
However educate yourself wisely. Rich Dad Poor Dad is good and Casflow Quadrient is another book of his. I had read these before I purchased Steve McNights Wrap secrets revealed Library. Having listened to that gave me the tools I needed to take action. Yes it comes at a price, however I think I would have paid dearly ten times over if I hadn’t had the knowledge that Steve provides. I guess you have to ask yourself are you ready to take action and way up the cost verses the benefit
Hope this is of some help
RachelDon’t sit on the fence and say YES BUT. JUST DO IT!
What’s the difference really between a the WRAP and what has been offered to be for $3000.00 they both sound very similar?
SunnyGirl here is a link from another forum re this company
http://www.somersoft.com/forums/showthread.php?s=&threadid=9164Chris
I would be a wee bit careful with Dolf De Roos teaching as he is a firm advocate of negative gearing which leaves you with less $ in your pocket and limits your ability to acquire more property – its fine if you have a high income but not if you only have one income (like me) If you are just starting out, borrow library books, search the web and ask people who you KNOW are doing well with their investments – but save your $3000 for a downpayment. Also, if you do a google search on John T Reed he has some interesting comments to make on Kiyosaki (richer from books than real estate) and De Roos. Who knows who is right
All the best and good on you!Hi Sunnigirl, I’ve read with interest the posts from our learned friends on this topic. To be frank, I expected more from the forum than most have stated. You were right to a) attend the info night & b) question it’s validity on this forum. Not one of the respondents has purchased this product known as the Wealth Building System & they will tell you for good reason. What I find offensive is that they blast it to hell without knowing it’s content. I believe the advice you have been given here is, in essence correct – research, research, research as cheaply as you can. What I suggest you do, is research parent company, Nouveau Riche and ascertain their validity & history. If you are comfortable with Networking, I believe you will not find a better product to run with. If you are not, I found out how to put $6000 cash in my pocket in the first 5 mins of the product. Guess I get some CD’s, books and crummy old software thrown in. Oh well, can’t beat bad luck. Like you, I’m a beginner and find this sight fantastic. Good luck and keep asking questions – cheers, Geoff.
Hi, I would like to speak up in Dolf’s defence.
I have some of his products and i think they are excellent.I started with Rich Dad poor Dad, then I went to see Robert Kiyosaki in person for one night, as well as Dolf de Roos, again for one night. i was really interested in going to the seminar but it cost an absolute fortune (thousands) and in the end I bought a recording of the dolf de roos 3-day seminar (available on his website) for about $500. It’s the next best thing to being there and I got a LOT out of it, as much if not more than the book. It has different information than the book,and is really really good and really really interesting, in particular for me as a chick and a Kiwi, as dolf’s seminar tape features one of his best students, Margaret, talking about her deals.
I wouldn’t say Dolf advocates negative gearing over positive gearing, in fact I would say the opposite. In fact during the ne night seminar i went to of Dolf’s, he demonstrated his software REAP (real estate acquisition programme, or something) which is a nice, easy to use, intuitive, nice looking, simple-yet-powerful way of doing your deal analysis.
Yes- an excel spreadsheet can do the same, however if you’re not an excel spreadsheet kinda person I would think it’s a great alternative. I’ve had a look at PIA and it’s functional but design-wise only a couple of steps up from an excel spreadsheet. REAP at least is a little more slick, a little more like the microsoft word of property software. Expensive….but I think I would get it if they made it for Mac. (only for PC AFAIK.)
So with the $3000 bundle, you probably got the CD set, the software, all the books, some videos, right?
I think in some way it is worth it. What I did learn from Dolf is to look for a ‘property wuth a twust’. (property with a twist, but that’s how he pronounces it.!) I.e. let’s say you have a property that is not cashflow positive, but if you bought it and subdivided, selling off half the land, you would still get the same rent but have recouped some purchase price, making it cashflow positive – well that is one kind of twist dolf talks about.
I relate this to what Steve teaches, when he says you need to
know all property investing strategies in order to know which one is going to fit a particular property.
I’ll stop raving but I don’t think there is anything sinister about Dolf selling his info, other than that because he has this whole advertising marketing rich dad thing behind him, he’s probably always going to be more expensive than a local equivalent such as Steve or the others – which is how I found the seminar. I thought, surely there’s got to be some local equivalent? Did a google search for property investing seminar australia and found this lot. Went to a seminar and never looked back. I know it’s no help to tell you I think you could just skip the Dolf and go straight to the steve, but Steve’s seminar is not going to be on for another year. You could do worse than Dolf in the meantime, though.cheers-
MiniGood call Mini,
I’ve read his books and always found them thoroughly enjoyable. I guess the question that must be asked id do I think I will find enough in this info to justify the $3000. I haven’t seen it but to my mind one deal with a Twust is worth well more than $3000.Enjoy
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(Andrew)“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.”
save ur $3K and buy a book or two. keep on the forum, research the web for 3 months at least. then come back and tell us your plan and we will further comment.
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