Hi All
I was watching “bright ideas” yesterday and they had a infomercial about the course “Utold Wealth: Success from Scratch” from Custodian Wealthbuilder (John Fitzgerald). The course is about building weatlh through property investment. Has out there purchase this course? Is it worth getting? Are there any course that someone can recommend for someone new to property investment? Would appreciate any feedback.
Drew
G’day Drew
I can’t comment on that course, but I’ve read Fitzgerald’s ‘7 Steps to Wealth’ book and suppose the course would be similar.
It is based solely on buying houses (not flats) for capital growth and heavily negatively gearing them. This means properties near the CBD.
The example is made of Logan (Brisbane) as being an especially bad place to invest due to it being a low growth outer suburb. Yet in the few years after the book came out Logan has done well.
When you retire the idea is you sell off some houses to pay debt. But what there’s been less than required capital growth? Also if you’re unemployed or have a salary drop the heavily -ve properties can reduce current living standards.
The main critics of the Fitzgerald/Wakelin growth approach are Margaret Lomas and Steve McKnight who focus on yield and cashflow.
Read all these books and devise a third strategy that’s best for you.
Peter
Hi Peter
Thanks for you reply. I have read Steve’s book and found it very good. I will check out book by Magaret Lomas.
Drew
Hi i know of a free/club type/investment/discusion/advice site that has live meetings (small seminars) all free they hold meetings in all areas go to their site and find out when the next meeting is close to you, they have been around for a long time but i have not seen a post about them, investclub.com.au
Ron
man who sits with mouth open waits a long time for roast goose to fly in
Hi AllI was watching “bright ideas” yesterday and they had a infomercial about the course “Utold Wealth: Success from Scratch” from Custodian Wealthbuilder (John Fitzgerald). The course is about building weatlh through property investment. Has out there purchase this course? Is it worth getting? Are there any course that someone can recommend for someone new to property investment? Would appreciate any feedback.
Drew
The Investors Club is a good place to learn from – although again they are focussed on negative gearing, perhaps moving a little more towards neutral now – but they also ‘sell’ their own properties. Everything they do is ‘free’ until you see the big chunk of cash they get at settlement from the developer.
They also have lots of good stories about properties that have massively increased in value, but we bought three in one year, and one year later we were lucky if they had increased by $5-10K each. We obviously didn’t get ‘let in’ on the best deals!!!
Cheers
MelAchan6, as someone who has spent more than a few dollars on seminars and on books I say that by far the better value is with the books. You can borrow them from the library rather than purchasing them if you would like to be totally focussed on saving for your deposit.
Good luck, Julian
You must be logged in to reply to this topic. If you don't have an account, you can register here.
