Gday
Well, Im back from the seminar, and I must say, I did enjoy it. It was my first time to a seminar by Steve, and I must say, Im impressed by his professionalism and sincerity. Great tips, I was at a point of review, and it was timed beautifully.
TIPS I took away at first impression:
– Know when to sell! Sell to enhance your velocity of money
– Solve problems – makes great $$
– Is it a must, or a maybe? This is a big one for me, because if its a maybe, I can make excuses! Every single ‘must’ Ive done in my life, including turning my business around from losses to million dollar net profit within a year, was all about must! And I havent succeeded like that as well since, coz it was all a ‘maybe’ after that…
– take a position on the marketLoved hearing from the mappers – pls come to next Melb forum, that was borne out of today, that Frank is organising for us.
Look fwd to Next November seminar where I hope to get my brother on board.
Cheers
Jars
PS. Dave, scrub up on the preso mate, youve got more to offer than meets the ear and eye! Didnt get anything out of your presentation.
Doesnt anyone wish to ask a question?
Humpf
Ok.
Mini Mogul and Richmond,
great to meet you both and put a face to an avatar! (pity is wasn’t until the end).
Kind regards,
“GUTSBY!”Gatsby
Thats harsh, I thought you looked perfectly fit and worthy of the pic!
Jars
Cheers Jars!!!,
Sorry I didn’t get to meet you (or did I?). Also Simon, great to meet you also this morning!
Cheers
‘GLADIATOR (?)!’Keep working on the pecs and delts gatsby and the gutsby won’t be so noticeable (if you think it’s a problem that is)
cheers
rI enjoyed it, the mappers were very good, fantastic characters with some interesting info,
It was great to meet & put faces to Richmond and Mini, I also enjoyed catching up & sharing a couple of coldies with Gatsby at the Cricketors Arms after the event,
Cheers
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi all
well it all sounds like fun, i’m disappointed i couldn’t make it.
what else can you guys share about the day.
regarsd westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
I agree Westan; so far it sounds like it was a very pleasurable (albeit costly at $400ish) “tea party” get-together type do!!!
Surely, SOMEONE can share what value they took away from it other than the ability to put a face to a name on the screen!!!
Anyone?????? [blink]
Before I meet Richmond I like to take him to the ring for a real challenge, but after met him yesterday at the seminar I like to withdraw my challenge. Nice to meet you Richmond…I will train as hard as I could and will ask you for a challenge next time…LOL
Putting face to avatar was the hardest task for me. SIS, MortgageHunter, Richmond, Minimugol, Gatsby, LeighK and Wilandel are all look so different to their avatar, but the hardest one was CastleDreamer…LOL. Nice to see you guys/gals.
Sell…Sell…Sell
.
Velocity of Money
.Kind regards
Jet Dollars
[Retire Young, Retire Rich]
Share Investing Forum: http://www.aussiestockforums.comI agree with Monopoly. I do like to hear stories of people meeting etc, but I would like to hear an in depth “review,” so to speak of the actual day.
Would you go again? etc
Cheers
“Looking forward to the day when I can tell the boss where to go”
Originally posted by Myydral:I agree with Monopoly. I do like to hear stories of people meeting etc, but I would like to hear an in depth “review,” so to speak of the actual day.
Would you go again? etc
Myydral,
I’m not entirely sure this is the right place for such an objective discussion.
Regardless of how open these forums are for people to express their mind (and I feel that the owners & moderators are very open), many people would feel somewhat uncomfortable making any critical statements about Steve’s seminar in Steve’s forum.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.– Jan L.A. van de Snepscheut
Originally posted by Monopoly:I agree Westan; so far it sounds like it was a very pleasurable (albeit costly at $400ish) “tea party” get-together type do!!!
Surely, SOMEONE can share what value they took away from it other than the ability to put a face to a name on the screen!!!
Anyone?????? [blink]
It was a free invitation by Steve to go to his seminar by way of say thank you as a moderator. So it does not cost me anything except the flight, taxi and accommodation.
As you are a modertor, you should get that invitation as well.
Kind regards
Jet Dollars
[Retire Young, Retire Rich]
Share Investing Forum: http://www.aussiestockforums.comSteve didn’t have to invite anyone if he didn’t want to, but he did, and I’m grateful for it.
I’d never been to a seminar before and was pleasantly surprised…
I was happy to see Steve taking a very level headed approach, certainly didn’t give the impression that anyone can become a millionaire in 5 minutes, and that it’s often a good idea to sell to realise profit. He was quite clear that he thinks the market is slowing down rapidly and that people should tread very carefully, and that the 11 second solution is pretty much redundant in today’s market. Basically reinforced what I’ve been thinking for a while.
Dave also spoke a bit about investing in NZ.
The stories of the Mappers were great, and a good kick up the backside to get going and do more. Well done guys, you’ve achieved some remarkable things.
Cheers to all, thanks again for the invite Steve.
R
PS Jet, anytime you want to “dance in the square circle” I’m ready.
PPS Monopoly… I’ve never been to a seminar before, and I didn’t pay for this one, but I’d hardly call $500 expensive, compared to some of the others going around.
Hello all, great to hear that those who attended forum enjoyed the event. Wish I could have attended.
Can I just get to more of the nitty gritty. With change in market can anyone share more info on ideas/strategies that Steve is now promoting.
Cheers[biggrin]Hi Guys
Richmond said:
and that the 11 second solution is pretty much redundant in today’s market. Basically reinforced what I’ve been thinking for a while.Dave also spoke a bit about investing in NZ.
I would like some elaboration on these two statements please?
Regards
G’day again
Working flat out at mo, but will take a few mins out to give some detail, as I can see no one else is going to do it!
Ok, seminar centered around the following objectives:
1. That cash flow properties are not bought, they are MADE, and its all in how the deal is structured. Examples of this were given.
2. The Advanced 11 second solution was confusingly presented, but I think I got it right in the following:
Rental Yield % = Annual Rent/PP x 100
PP = Annual Rent/rental yield%
Navra put this one up also.
3. Steve’s approach when investing
– Multiplication by Division covered
– Velocity of money: Basically, how to access your profits as soon as possible (payback period), given your strategy, but sell if you need to, to fasttrack your investments and trade up.4. NZ
– Dave, mate, what can I say. Sign me up to do a junket with Steve in NZ.
Basic tips from Dave:
– language used in NZ property, terms, etc
– NZ lenders only do 70% LVRAppears that Steve and Dave are in market to sell their properties, and if you get an agents list, Im sure most of theirs would be on there.
5. Mappers key points, from their investing
– Its not easy….. its not easy….. keep going
– Lot of renovation and subdivision examples
– Great NZ tips from Mapper purchases, including real estate agent attitude and statements
– you can be $400K in debt and still trade $9 million in deals within 12 months! Amazing story.6. Understanding the market & taking a position always and dont become passive.
Steve talked about the fact that you should be clear on 2 things, taking a position on what the market will do and thus being clear on your strategy (are you in the market, out of market, or confused).
Understanding the market was simple economics, such that in interpreting events or factors that affect the market (e.g. Govt removing -ve gearing tax relief, introducing NSW style double stanp duty, FHOG, US interest rates, etc) to think this through, and ask the question, is this Demand stimulating or Demand stifling, and being either one will drive your position and opinion on the market and how you will proceed. He looked at a lot of Demand stifling and demand stimulating factors and how that can effect your portfolio. These were also shown graphically, as well as analysing the market trends and the fact that after a boom, there is often, for instance in melb, has been followed by long flat period. He also talked about Home affordability and how this was an issue, that when interest rates were at 17% mark, home affordability was higher than today.
If your look at your current portfolio today, if you look back on what you have done, and if you feel you could have done better, then potentially you were working against market sentiment. Did your portfolio grow due to market growth (i.e by default, due to market condicitons at time) or as a direct result of your efforts and your strategy?
7. Personal, what Steve called, “a-ha” moments:
Problem (property had trouble selling, on market for a while due to …) + Solution (your effort) = Profit (best deals, in quite a few cases). If you buy solutions and sell problems, you lose money.Im spent. This is surely my longest post.
Hope that helps set the scene for the day, was great, and I LOVE my stress house toy. [strum]
JetD,
Although I am no longer a moderator (my choice) at the time Steve announced his seminar, I was not one of them who was extended an invitation (as I understand in error). Nevertheless, I have no issue with this at all, and was merely enquiring as to how the day’s events unfolded.
Richmond,
No, you’re absolutely right $500 is not a lot of money in the scheme of things; certainly not expensive for a seminar. However for the sake of just a “get-together” it could have been a lot cheaper to hold a BBQ at the local park or book the bistro at the local pub. Basically it was just my way of saying, yeah that’s cool that everyone had a good time (I am pleased to hear fun was had, friends met and made etc) but DID people feel that they actually gained value for their money???
Where is the harm in asking that??? Chill guys, I am not asking for any deep secrets to be divulged or restricted information to be freely conveyed to the rest of the forumities who couldn’t be present for whatever reason. I meant no disrespect to Steve or anyone else in asking this, and if anyone took offense, I wish to apologise accordingly!!!
Cheers,
Jo
P.S. Thanks for the elaboration of the days teachings Jars11, although I was not expecting such a detailed review. Sorry, I edited this (post) after I noticed you had put up your thesis!!!! [lmao]
Jo
You beat me to it. I met one person only (you know that) and that was it. For me, I wasnt in it for putting face to name, though seeing Gatsby, I became very shy having seen his bod shots first, but no, the day for me, as most days are for me, was business only! It was worth more than that, or else I wouldnt state it. I would consider myself a pretty upfront, straight up kind of girl, and I thought it was very good. I was a little suss re the NZ property thing and I found Dave a very poor presenter (all talk no content), he would know that from my posts, but I was overall very very happy. Sorry Dave, Im compelled to tell truth. Youre on a winner anyway so Im sure my opinion would mean diddly squat!
Cheers
Thanks Jars,
Your honesty is appreciated, as is your open-mindedness and understanding that I had no sinister motive in asking (what was IMHO) a very simple question.
I am pleased you took away vital information which will help you to work towards your goals.
I hope the same can be said for all who attended.
Cheers,
Jo
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