Hey guys,
Just seeking some clarification after watching Steve and others on TV.
What is the goal after 1 year. I thought i heard him say it was to control $1m worth of property.
PLease correct me if I mis-heard.
If so is this a worthwhile goal, anyone with $200k equity (not much in this day and age) could borrow $800k and control $1m worth of property.
Couldn’t the aim be a bit more specific ?
It will be interesting to see the results.
Also notice Henry Kay is doing something along these lines as well, he sounds a very dodgy character from all accounts.
Ben
Hello,
I thought I heard him say $1 million between the 19 of them.
I could be wrong.
Victoria
[email protected]Reason can answer questions, but imagination has to ask them. — Ralph Gerard
I actually thought the MAPs program was to
create net millionaires. Anyway still a good program.I think the challenge should go a little more like this – Turn everyone into 100K per year passive investors in 12 months. The people selected would then use none of their own money. Boy would that be a challenge. Maybe make it a smaller group of people. aha I have a new idea for my new book
any volunteers??I have actually met many guru’s in my time and must say Steve is one of the least arrogant & credible individuals I have come accross on the seminar circuit. As for Henry Kaye I can’t comment, but I have heard some bad stories.
Maybe some of the participants will be able to let us know what the goals are.
Ben.
Forgive my ignorance as I am totallynew to the property talk, but who is Henry Kay, and if he is doing a smilar thing to Steve, does anyone feel this may affect Steve’s name due to the similar circumstance?
Millionaire Challenge
REPORTER: Rohan Wenn
BROADCAST DATE: September 8, 2003Property guru Steve McKnight.
If Steve McKnight has his way, in just a year 19 ordinary Australians will all be property millionaires. Two lucky Today Tonight viewers will also be given the chance to get with the program for a chance to strike it rich in property.Just four years ago Mr McKnight was stuck in a dead-end job he hated.
He eventually quit and with the help of good mate Dave Bradley, went into property investing.
“I lived on $400 a month when I got started, out of the grace of my wife’s salary,” he said.
But the sacrifice has sure paid off: Mr McKnight and Mr Bradley now own almost 200 properties, earning them hundreds of thousands of dollars every year.
Now Mr McKnight wants to show others how to do it, using the Millionaire Apprentice Program (MAP).
The idea for MAP came after he wrote his best-selling book “From 0 to 130 Properties in 3.5 Years”, in which he explains how he made a fortune by investing in cash-flow-positive properties, where you earn more in rent than you pay for the loan and maintenance.
While critics say you can’t find positive-cash-flow properties in Australia any more, Mr McKnight begs to differ.
“They can’t be further from the truth, because I’m doing approximately eight to 10 cash-flow deals a month,” he said.
Now he wants to prove his methods can work for everyone, so Mr McKnight has offered to mentor 19 people to prove his advice works.
Rachel Starr, one of the lucky candidates, works as a mortgage broker in a small New South Wales town called – believe it or not – Broke.
Growing up, her family didn’t have a lot of money, which she says often caused her parents to fight.
Mr McKnight called for candidates via his website http://www.propertyinvesting.com and hopefuls then had to fill out a detailed application, a task Adelaide’s John Donjerkovic took very seriously.
Mr Donjerkovic has already put Mr McKnight’s advice into practice and the results speak for themselves.
“I’ve done two deals this year …in one deal in seven weeks I’ve earned $50,000 and in another deal in three weeks I earned $60,000,” he said.
He started the program saddled with $300,000 in debt but with Mr McKnight’s help he’s planning to be ahead by this time next year.
Will and Del Jeffrey say they’re hoping the program will give them the kind of financial security their Victorian asparagus farm can’t.
The couple has already made a very big decision: they have chosen to sell their home and rent for a while so they can use that extra cash to buy more investment properties.
Meanwhile, Graham Wilson and Alanna Carysforth are hoping the program will simply allow them to spend more time travelling.
During the monthly mentor meetings, Mr McKnight will not tell the candidates what to buy or where; rather, he’ll simply help them evaluate property deals they find and teach them the financials.
If you’re keen to be part of the program, you haven’t missed the boat: Mr McKnight has agreed to mentor two Today Tonight viewers online for 12 months and they’ll also have the chance to attend one of his investment seminars free.
If you are interested in taking part in our Millionaire Challenge, click on the link at the bottom of the page and tell us in 100 words or less why you deserve to be part of the program.
Throughout the year we’ll check back with the candidates to track their progress.
And while it’s still early days, Mr McKnight says he’s confident the group has what it takes.
Hi Folks
He did say control a $mil of property, and sure they could just go and buy an $800k or $1m property but that does not meet with Steve’s philosophy which is cashflow positive.
So I can only assume as I was not there, Steve said control a $mil of property but probably clearly thought cashflow positive property. Now that is a harder challenge.
As for Henry Kaye, this site has a search function located at the top of the page use it regularly as many topics are covered on a number of occassions and you will find a wealth of knowledge, so type in Henry Kaye or NII (his company) and see what people really think of Henry Kaye. BTW Henry if you are lurking that really is an original idea!
Cheers
Leigh K[]Read, learn, grow but most of all do it.
Steve’s program soudns good.
Did anyone see henry Kayes add in the sat SMH? He is going to make some millionares in 6 months or he will donate $1mil to charity! This is in aid of clearing up the recent bad publicity.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
“Did anyone see henry Kayes add in the sat SMH? He is going to make some millionares in 6 months or he will donate $1mil to charity! This is in aid of clearing up the recent bad publicity.”
Yeah, I saw that, I think he used the term “control” $1m of property as well.
I bet he would rather lend them the money himself to buy one of his properties than donate $1m to charity !!!
i think he would go for charity as its tax deductible ! hehe
I have bought $870K of property in less than 6 months, First one settled 22 May third one should settle 23 Oct. I had about $140K equity to start with. The first one jumped 60K in value in 5 months. The second one 20K. So now im getting the third.
I just need one more positive cash flow one worth under $200K to balance my 3 negative ones and I will controll over 1 million in under 12 months, excluding my PPOR and allowing for capital growth.
I had a lucky run though.
cheers.[
]
I have bought $870K of property in less than 6 months, First one settled 22 May third one should settle 23 Oct. I had about $140K equity to start with. The first one jumped 60K in value in 5 months. The second one 20K. So now im getting the third.I just need one more positive cash flow one worth under $200K to balance my 3 negative ones and I will controll over 1 million in under 12 months, excluding my PPOR and allowing for capital growth.
I had a lucky run though.
cheers.
any volunteers??
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