Hi again
I read M.Lomas’s book. Went to Edentiny for the first free consultation. Paid nearly $400 for a Financial Report. The next step is to join as a member which will be $2500 + GST. Do I need to go that way or can I just come here for honest advice? Or, do I also have to be a financial member here to get the full benefit? I need somebody to hold my hand…[
]Hi Gavalynn
As a general rule, I don’t spend anymore than $200 on any one seminar. If I was going to spend $2,500 I might just as well go out and buy a property – that will probably teach me more than most seminars. Only when I become a bit more of a “sophisticated investor” (say 10 properties or more) will I consider spending this kind of money.
I know some people will disagree with me. They might say that I should educate myself before I purchase… not after. Well investing in property is like anything. You have to try it first. Make sure it works for you. Make sure you like it and want to continue. Only then is it reasonable (in my opinion) to spend that kind of money.
So here’s my advice. Go to 5 to 10 seminars that cost around $100 (this will teach you a lot – get many different views and strategies from different people). Then go out and do a lot of research and buy your first investment property. You’ll be surprised how quickly you’ll learn.
Good luck.
Cheers
Stu
Property & Finance News
at http://www.prosolution.com.auHi Guys,
Gavalynn, just come here for honest advice we’re not all experts (especially me[]) But theres a lot to be learnt here, no need to be a financial member, I don’t think there is such an animal.
Buy some of Steve’s stuff if you want a bit more education “Property secrets revealed” is actually the notes and a recording of one of his seminars I think, its pretty good.
Stu, I agree with you on the buying an IP to learn thing. Man what an education![] It has to be the steepest learning curve you could find.
I personally wouldn’t wait untill I had 10 properties to go out and get educated, once I knew it was for me I went and did a seminar and got heaps out of it. Make sure though that you know roughly what type of strategy you want to follow first, because that affects the type of seminar that you would attend.
One thing though Gavalynn. Don’t be discouraged when everything goes wrong, fight your way through it and you’ll be alot smarter next time (Trust me, I stuffed just about everything up, because I didn’t know any better! I know now!!!)
It all seems to be working out now![8D]Good luck,
Scott SP.S. Just do it! Once you’ve jumped in it’s too late to go back![
]“Aim for the stars and you’ll shoot the top of the telegraph pole. Aim for the top of the telegraph pole and you’ll shoot yourself in the foot!”
-anon$2500 sounds like a lot of money…… what does it actually “buy” you.
Enjoy
AD [:0)]
(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.”
Hi there Gavalynn. I too agree with the replies here. There are expensive seminars out there and there are some free seminars too but you will have to buy sooner or later (if you choose to) with or without a seminar. I have attended different seminars over the years, to get a few different ideas (some free, some paid for) but still did my own thing. Yes, I admit, if I could go back I may have done things a bit different but that is how you learn. Things like dealing with banks etc. Just decide what you want to do (i.e if property investment is for you), learn everything you can by research, take a deep breath and GO FOR IT.
Good luck
MartyTo Gavalynn,
Hope you get to read this. I`ve only just found this forum last night & love it. My Husband & I are clients of Destiny & have been for the last 8 odd years.They are reputable & honest & in my opinion are worth the money you pay to be a client. You have them there to help set up everything you need to get started in IP`s & as you already know Margaret, is very much into +C/f prop.They will then help you with the figures etc for your 1st foray into this arena.I must say that we would not be in the postion we are today if we had not had destiny help us out & guide us over the years.It is a lifetime of guidance that you are initially paying for, & , sure you will quickly learn after your first 1 or 2 purchases but i would rather have the assistance first up than make an expensive mistake. Anyway, thats just my opinion having been a long term client.
Hope this helps. Cheers
DiamondHi there,
I’ve just got to agree with Scott, there’s nothing like jumping in at the deep end and trying to swim against the current to safety! The good thing is that you can survive to tell the story…(this could be a little premature in my scenario, but I’m cautiously optimistic [
])
Maybe the lessons I’ve learnt, couldn’t have been learnt in any other way! I’ve also had the opportunity to meet some lovely people and forumites along the way [^][8D]
I do however suggest learning the basics and getting a good solid foundation in knowing the ropes of property investing, before doing it. If you are here at this forum for the first time, my suggestion (okay, I’m a little biased) is to wait until you’ve read Steve’s book before purchasing anything. See what it takes to get there and make it work.
Save yourself the anxiety and heartache of doing it the rough way. []
It’s a huge learning curve and if you look at a bell curve, I’m still on beginning of the climbing side before the peak.
It’s late, not sure if I’m making sense…
Night Night
Sooshie []“Giving is a Blessing, receiving is the bonus”
Hi Gav,
I did a year of research, reading, seminars, and I don’t regret any single bit of it. I personally was so super-clueless and didn’t have a single friend with investment properties (unlike now – I have all you guys!!! yay!!!) – and my parents are so not investors – that i really needed that time and education.
let alone being self-employed and hanging out with mainly musos – i was way out of my depth a year ago. the best thing I did was attend the Australia Property Masters. Prior to that I’d read ‘how to make money from residential real estate in NZ’ by dolf de roos and jan somers. A thin book which focuses on the numbers and how you can be a millionaire in ten years starting with one. (i.e. you own property worth 1.8 million but your debt to the bank is only 800k.) After that I read real estate riches by DDR and also bought his ten-cd set for $500, as the next best thing to attending it live (it’s a recording of his three day event.) I found this inspiring as it was a NZ seminar with lots of women talking about their first deals.I still craved going to a live seminar that wasn’t just a 2.5 hour overview (though they are fantastic – dolf de roos was great, as was the richmastery lot) which is when I found Steve. talk about all-in-one – i felt that he covered all I needed to know and the physical attendance coupled with seeing a whole room full of property investors which made me feel it was a normal thing to want to do rather than a ‘dream’ as I felt in my circle of friends – not to mention the challenge Steve gave to everyone to not be one of the 99 percent (whatever the figure) that go to seminars but never do anything. that was the final thing to make me take action. i repeated the course this year just because it was so much fun last year and took my dad too. It felt great following everything and not feeling at all lost.
so don’t think that everything is a rip -off – i personally don’t regret a single cent i have spent on my property investing education. even now every book i read (currently, money secrets of the rich by john burley) gives me a new ‘aha’ spin on things.
However my boyfriend thinks i spend too much on materials and tend to get ‘sucked in’ – perhaps he is right……but then again, I now have three properties and he has none….hehe
cheers-
MiniPS yes I agree, Property Secrets revealed is the best amount of info (CDs and notes) in the shortest amount of time out of all the CD sets I have. If anyone I know is interested in finding out more, I just chuck the folder at them and say ‘here you go’ – and that’s out of everything on my shelf, i think steve is the clearest, the easiest to understand, the most information at the right level (not too basic, not too full-on) for almost everyone.
The notes and recording of the Property Masters is the crem-de-la-creme delux version, but you only get that if you GO!!
I just want to back up what Diamond has to say.
I am an existing client of Destiny and can recommend them without hesitation. The cost is a one off and lasts your lifetime (they otherwise get fees from brokeridge).
They not only help with investing but with setting up your whole financial structure including all your budgeting etc. Sure, lots of people can do this on their own but it is good for a lot of people to have assistance.
Think of them as finacial planners that deal solely in positive cashflow property.
Cheers
Hi Gavalynn,
I agree totally with Mini on this one. If I hadn’t first of all gone to Geoff Doidge & Paul Eslick’s seminar this year, I wouldn’t have found the web-link to propertyinvesting.com!!![
]Once I read this forum, and Steve’s newsletter, everything seemed to click into place. I straight away bought Property Secrets Revealed, and went out and immediately bought my first 3 properties (within 2 wks of eachother). I probably only did that because I was so green!!!!!![
]We did a reno on 2 of them, and with what I had learned at Geoff Doidge’s seminar, I put it into action. It probably saved us thousands, (more than the cost of his seminar & flights), by doing things to a plan & strict budget. We then signed up for the Aust. Property Investing Masters. As Mini says Steve gently pushes you on to make a start or to continue with your investing and not be one of the 99% who become seminar statistics.
We have done this, and I’m sure that without Steve’s gentle persuasion, we’d probably still be sitting here thinking about investing again “soon”.
Basically, I feel you’d get your best value for money with “Property Secrets Revealed”, and become a regular on this forum. It’s a great starting point, and then if you feel you still need a seminar to help you – why not???
Good luck,
Del
“The only failure is the failure to participate”.
]
]) But theres a lot to be learnt here, no need to be a financial member, I don’t think there is such an animal.
] It has to be the steepest learning curve you could find.
]
]
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