I’ve just run a search on these forums under “Richmastery” & have read quite a number of negative posts about this group, mostly from people who haven’t had much real experience with them, apart from attending a seminar or reading their website.
Well, I’m actually coming on here to go into bat for these guys. I’ve had real experience with Richmastery/ESC. I have attended their seminars, training courses & are part of their mentoring group & yes, I have purchased properties from them.
Am I stupid? Well, I’m university educated (majored in Commerce/Accounting), been working in Business Development in IT for the past 10 years selling high value services to “C” level executives & earn well into the 6 figure level. Not brilliant, but definitely not stupid nor naïve!
Sure, with every so called educator everyone needs to do their due diligence because yes, there are some shonks out there & some have been proven to be such shonks. But, this is not the case for ALL educators. Also, some educators/groups are more suited to some people than others. Not everyone will derive the same benefit from an educator as someone else will.
For me, I went to their seminars having already been an active trader on the sharemarket & was looking into property but a little hesitant to follow my accountants advice to buy a high price property, negative gear it & then wait for the price to grow.
Richmastery opened my eyes to another strategy of positive cash flow properties & taught me a LOT about property investments, structures, negotiating, etc etc. Without them, I probably would’ve followed my accountant’s advice & bought a high price property which right now would mean that I would be losing money on because it would be negative geared & with the market the way it is…
Richmastery has got me doing things I never thought possible. Right now am even looking for a change in career – giving up my IT job & entering into property.
I haven’t purchased a +ve cf property from Richmastery yet.. I chose to do this myself because I wanted to learn (but I sure wouldn’t have bought my block of units in North Queensland & making good income & having it already grown in value without the knowledge I gained through Richmastery courses). I have, however, purchased a deposit bond deal & an option deal from them, both of which are going very well & have already increased in value quite a bit, well over the finders fees. Richmastery also taught me other ways to make money on these investments.
One BIG thing to note about the properties Richmastery offer. Richmastery do NOT develop these properties themselves nor do they buy them themselves first. They get all their information from Real Estate agents. From what I know, they do a lot of work to make sure this information is as accurate as possible, but if anybody out there in property land suffers on the ethical front, its our friends the real estate agents. How many of us have had incorrect information given to us by RE Agents? I know I have many a time. Why would it be any different for Richmastery? Are they some super group which is able to eliminate all lies from agents??
One of the mentoring group members of Richmastery had this happen to them recently & when he reported it to Richmastery, they got back onto the phone to the agent to bring this to their attention. Obviously, the member didn’t have to follow through with the purchase. This is a guarantee that Richmastery give.
Am I a “one-eyed” Richmastery supporter? No! I read lots of books not by these guys & attend other seminars & I read API & other journals. And I do investment outside the scope of the group, and I question the guys at Richmastery whenever there is something that I don’t agree with. But I do know these guys gave me the foundation to do all of this & I have sure got my monies worth from them & a lot more!
To all considering Richmastery & their services, & for that matter considering anyone, its worthwhile attending the free seminars first & then asking as many questions as you can from these people to make sure what they have is right for you, because as I stated above, not all groups are good for everyone.
But don’t believe the negative posters unless they have had real direct experience with this group. I’m open to hearing from you people as to your real direct experience with them.
My 2 cents!
Colio
yadda yadda yadda yadda. Not sure i believe a word.
Colio,
Do you work for Richmastery ???
You seem to be very one-sided…..
So, are you saying you’d rather pay someone $5000 to find a deal that may take 1-2 years to pay off the fees charged, before you earn a profit ???
Come on…. If you want to be a real investor, then you need to get out there and find your own deals…… It’s all part of the education process……
The only posts I have seen from you so far have been in support of Richmastery….
Pelican
Nope, don’t work for Richmastery. Didn’t you see what I wrote? I work in IT not property.
Richmastery’s property deals business are essentially a buyers agent. There is nothing wrong with using buyers agents especially when they can get deals that the average investor can’t. What is difficult for you & I to do is to go to a developer & say that I will take 20+ units or something like that in order to get a discount but they can because they have the members to sell them to.
Yes I agree, doing your own research etc is good & saving $5k is saving $5k, but for many people they do not have the time nor the know how to get the kind of deals they do.
Pelican, you talk like everyone in the world has the same time & knowledge you do. This is not the case so their services are definitely good.
And to Yack.. what the?! Very intelligent post that one. Believe what you like really. Choose not to believe what I say. Choose not to believe the earth is round. Just cos you believe something or don’t doesn’t make it true or false.
I’ve presented my evidence which is backed by real experience, you’ve presented “yada”. Thanks!
Colio,
Sad to say you have missed my point……
It’a about you LEARNING how to do it……so that long term you can become successful in your own right…
There’s an old saying, which maybe explains it for you :
Give a man a fish, you feed him for the day….. Teach a man to fish and you feed him for a lifetime……
I sincerely hope you get to learn how to do it yourself so, that one day when you have the time, you can run with the business………
Hi Pelican
Firstly, thanks for your encouragement. If you read my post in the Tell Tale forum you will discover that I have indeed done investments myself. Not all great but some are indeed good that I am very happy with. I am in fact an active investor & am currently putting together syndicates to do things like developments of residential & commercial properties as well as purchasing +’ve cf properties.
Secondly, I think you have sadly missed MY point
I wasn’t saying that everyone should just rely on buyers agencies like the property guys in Richmastery – I definitely encourage people to learn for themselves wherever possible. BUT, for some, groups like this are a god-send. They neither have the time to both find these deals nor gain the necessary knowledge. I know HEAPS of these people – they lead very busy lives from demanding jobs to families to lots of other commitments. All of them would love the chance to do what you & I do but its just not possible. So buyers agents are excellent.My point right from the beginning was really to give positive support to Richmastery because I definitely have benefited from their services.
Hi Colio,
Firstly, I have to apologise as I did not read your post at length as it read like another plug for Richmastery, which BTW I do not have an issue with that; I just figured it was you going (as you say) into “bat” for them and left it at that!!!
I periodically receive a newsletter from Richmastery with their “hot deals” but sadly (or maybe in some people’s view, luckily) many of the deals are not in Victoria. Had they been; I may well have investigated these “deals” further. But as it stands, I just glance over them.
Their deals appear very CF+ and certainly worth a second thought, but without doing more homework I tend to treat them (the company) as another group of “buyer agents” who charge a fee for finding these deals.
I feel that investors “should” do their own homework, and not only save themselves money, but gain invaluable experience. However (as you pointed out) time is a real factor, and sometimes, it may mean that buyer advocates (although they may be costly) can save you big $$$ in the end.
At the end of the day; if you are happy, who am I to tell you you’re wrong???
Cheers,
Jo
I wasn’t saying that everyone should just rely on buyers agencies like the property guys in Richmastery – I definitely encourage people to learn for themselves wherever possible. BUT, for some, groups like this are a god-send. They neither have the time to both find these deals nor gain the necessary knowledge. I know HEAPS of these people – they lead very busy lives from demanding jobs to families to lots of other commitments. All of them would love the chance to do what you & I do but its just not possible. So buyers agents are excellent.
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