Heres a free seminar http://www.wealthwithproperty.net
SteveAlso FREE $4,000.00 on line real estate riches course at http://www.realestateedu.com.au
Thanks for the link Steve but only QLD based …
I’d considered how worthwhile these seminars are and how to evaluate which ones will be beneficial and which ones are selling snake oil. I’ve learned from experience over the years that expensive doesn’t mean better, and on that basis I’d consider paying $50 to go to a seminar and learn the basics (which I believe I’m gripping having researched the internet and just ordered my first book).
What I will likely do is read up as best I can and then get a sanity check/extra advice from a couple of different property based financial planners and make a judgement from there. I hope I don’t fall into the idiot category as I may shortly loose a lot of money!
I think badgers statement was a little pointless and not required. That said, I did have a laugh reading the responses and his evaluation the other guys website was gold. Why bother having a website if it reflects poorly on your company and you’re not expecting to get business out of it. That doesn’t sound like a good investment to me, which is worrying considering the line of business he’s in
I think the best thing for most people is to start their own private investors club with family and friends.
Set a schedule to meet once every 2 weeks and give each other tasks to complete and compile lots of infor.
Have one of the members write up a pdf and let everybody have a copy … start up a free web site to attract like minded people and give the info away for free … charge space on the site for accountants and other professional services.
Hi Wealth for life,
I agree with you to a point. It is very worthwhile to get together with like minded friends and discuss property on a regular basis, and benefit from others learning, and experiences. And talk about which books etc you have found useful.
To a point. If there is a Uni tutorial of eager students, they may well all increase each other's learning curve. But with no outside input except for their own experiences, (ie no texts, lectures, other research or studies or data etc) they will not make such rapid progress. It could become, "the blind leading the blind".
I prefer to augment my experience with that of others. eg how will setting up a family trust benefit my situation?
Then I can decide if that will work for my plans.Certainly I can agree with Badger that some seminars are just a developer's marketing ploy.
The way to choose what will benefit the individual, I believe, is to read a book that inspires you and seems down to earth, Aussie based, and applicable. Then go to the seminar that the author is running to learn more.And Badger, fair point about my saying the seminars etc are tax-deductable. Not my aim at all to increase tax deductablilty.
But a very good use of any earned money, if it improves my returns dramatically, ie by many times more than I have paid for the seminar. (And it does, in my application of my chosen education source.)Having recently tried a financial adviser, I believe the mentoring programme I'm part of is far better value for money as it applies to my strategy and my goals better, not to what they usually advise. Not that the adviser was all bad, and I'm not saying we shouldn't seek this sort of advice.
quickchick
Hi QC,
I don't think seminars are tax effective under the PAYG only if you have a business you run it through …
What mentoring program are you apart of q.c sounds as though you are happy with it …
Good luck …
Thanks wealth for life.
I am part of Steve McKnight's RESULTS mentoring programme . And highly recommend it.
And don't get paid to say so!
If you are serious about property investing, it is SO worth it.
For those who are only thinking about maybe they might like to (not committed to it) then they won't benefit from it.We hold our cashflow property in a family trust, so pay the programme (ie education expenses associated with property investing) out of pre-tax dollars.
quickchick
Thanks QC,
I think I will look into this and learn some new stuff with Steve …
What I do like about Steve is that he does charge but at a fraction of the prices like Mark Rolton, Carley Crutchfield and Jamie McIntryes group …
Good thinking wealth for life!
And you have a mentor who you can contact weekly (or when you need to) for specific advice pertaining to your proposed deal.
As well as a home study pack and group get togethers. And including access to someone who has been developing for 40+ years including residential, commercial, with engineering background. For when you need advanced help.
Great value.quickchick
Just a quick farewell to you all. And to those who were curious about what I did , here’s the breakdown of my last couple of years, which was build on a base of about $140k to start with in around mid 2005.
Part owner in an IT consulting company start up – Sold my share for $400,000 18 months ago net after CGT (60k CGT in to super).
Recently sold my remaining 2 IPs – Sold one late last year and the other settles in mid August. Both sold before the current down turn (possible crash) – 360,000 net profit after CGT.
Most recent PPR – Bought in 2007, sold in April this year – $170K net profit
Shares – Bought $200k back early last year. Sold for $240k when index was up near 5000.
I’m now leaving Australia to go back to the UK permanently with $1.3m AU in my pocket (It’s now or never with the current exchange rate). My strategy was common sense. I do not believe there is anything sophisticated with the level of knowledge required to make money in property or shares. It just takes capital, a bit of nerve and be informed. For example, only an idiot would not have seen the property downturn coming, but it’s interesting to see the herd mentality in action. Those that sold late last year and early this year did well, but the rest waited until the market had moved before they committed, now we have a bunch of property on the market with a downward trend in prices as buyers sit on the fence because they think it’ll get cheaper. And it will, for that very reason.
$1.3m is not a king’s ransom, but it’s enough to take advantage of all the cheep property there will be in the UKin about 12 – 18 months time, which is phase II of my strategy. I'm a millionaire in Oz, now I want to be one in the UK. Should take about another 3 – 5 years.
Good luck to you all.
Well what a disapointment that turned out to be badger. I thought maybe your were a clever investor. I guess you just dont know what you dont know. May be you better read some more books. If you are as smart as you pretend you wouldnt be paying CGT or selling costs , especially if you bought quality investment property in the first place. You should get at least 10% growth and 4% yeild. Use low intrest rates in the UK to levearage in to the UK market with a 1million deposite. To sell a property last year wasnt very smart there was no real down turn only good buying opportunities. Also if your so smart you would know the fx rate is not an issue as it can be hedged. also I dont consider putting money in to super a smart move perhaps it is ok if it is self managed , but it is too restrictive and the fees are too high. If you property prices are falling obvoiusly you were not smart enough to buy the right investment grade property , it is still growing strongly. Property is usually at least a10 year investment why puy a heap of property if you plan to sell it after less than 4 years, must be bad investments and you cant pay for it. That is the only reason you would sell property. Your strategey seems very unsophisticated to me.
crusty wrote:Well what a disapointment that turned out to be badger. I thought maybe your were a clever investor. I guess you just dont know what you dont know. May be you better read some more books. If you are as smart as you pretend you wouldnt be paying CGT or selling costs , especially if you bought quality investment property in the first place. You should get at least 10% growth and 4% yeild. Use low intrest rates in the UK to levearage in to the UK market with a 1million deposite. To sell a property last year wasnt very smart there was no real down turn only good buying opportunities. Also if your so smart you would know the fx rate is not an issue as it can be hedged. also I dont consider putting money in to super a smart move perhaps it is ok if it is self managed , but it is too restrictive and the fees are too high. If you property prices are falling obvoiusly you were not smart enough to buy the right investment grade property , it is still growing strongly. Property is usually at least a10 year investment why puy a heap of property if you plan to sell it after less than 4 years, must be bad investments and you cant pay for it. That is the only reason you would sell property. Your strategey seems very unsophisticated to me.To all those folks out there that are trying to get ahead, here is a great example of someone who believes that making money is more than it really is – quite simple. These self appointed "gurus" are the problem. Making money is not that difficult and you do not need to pay someone $5k to find out how. But these people perpetuate the idea that is it something akin to physics. The net result is a bunch of spruikers exploiting Joe Punter because punters buy into the notion that it is sophisticated. This guy is talking nonsense. It's just a bunch of words that are uninformed and are based upon some huge assumptions with no understanding of the subtleties of my situation. All he is doing is puffing himself up with some techno-babble that is designed to make him look superior.
Bottom-line – I started with $140k and ended up with $1.3m in 5 years. My advice – don't get sucked in by such b*ll*cks, it's really not that difficult. Just get a good accountant.
PS – This type of person is usually very short.
crusty wrote:Well what a disapointment that turned out to be badger. I thought maybe your were a clever investor. I guess you just dont know what you dont know. May be you better read some more books. If you are as smart as you pretend you wouldnt be paying CGT or selling costs , especially if you bought quality investment property in the first place. You should get at least 10% growth and 4% yeild. Use low intrest rates in the UK to levearage in to the UK market with a 1million deposite. To sell a property last year wasnt very smart there was no real down turn only good buying opportunities. Also if your so smart you would know the fx rate is not an issue as it can be hedged. also I dont consider putting money in to super a smart move perhaps it is ok if it is self managed , but it is too restrictive and the fees are too high. If you property prices are falling obvoiusly you were not smart enough to buy the right investment grade property , it is still growing strongly. Property is usually at least a10 year investment why puy a heap of property if you plan to sell it after less than 4 years, must be bad investments and you cant pay for it. That is the only reason you would sell property. Your strategey seems very unsophisticated to me.Crusty, if Badger is moving back to the UK and will no longer be an Australian residenrt, then he has to pay CGT on his Australian properties, whether he sells or not.
Seeing as you are so disappointed with Badger, perhaps you could explain your philosophy and current financial position. Do you have $1.3m of equity available to you?
Hi , Badger and Dan Congratulations to Badger on your investing sucess. I actually agree badger on his comments on semminars and the morons who take notes on B S. May be I was reading between the lines but I was refering to comments about Tim, and comments like I am wily canny and flexible etc . that made badger sound like a smart arse but when he explained his stratetgy he didnt seem to be as sophisticated as the impression I was getting. It is good to see some robust discussion for a change and some-one finaly challenge some of the propaganda and myths pushed at semminars. My philosophy is I started with nothing and I cant take anything with me when I go, so I am prepared to go with nothing. Just enjoy the ride. I can be be happy with nothing and was, I have a property in asia where I can live on virtually nothing if if I come undone . I could make it into a back packers and make good money. I am lazy and dont like working and dont understand why people do. I am an accidental investor I would see opportunity and think I should buy that and kick my self that I didnt. So I decided I wouldnt die wondering. So when I see an oportunity I grab it, they seem to come along every few years usually in bunches of about 3 which can make it difficult at times. My second property was bought using vendor finance I found out what the vendor wanted, at a time when property was hard to sell they wanted a little more income than their pension but not too much that they lost the pension and other benefits. so they were very happy to accept a low price and a low interest rate but guarrranteed income for 20 years. 2 years ago I wanted them to take advantage of the coming property slump but I had to get them to release their mortgage, to get finance from the bank. so I went to a solicitor and got a contract drawn up I had to double what was paying each weak and instead of the loan terminating in 5 years , I had to pay for the rest of their lives. A win win situation. I immediately went and found some tennants found out what they would pay then bought one house and some land to build another. then last year bought a house, and an option on some land for development, just to day bought an option on a house with large block I hope to subdivide. I also bought a house in 1997, two blocks of ground in 2003 sold the one I was going to build on for 20% more 3 Weeks after signing contract and didnot have to pay any stamp duty. Then built on the other. The deposite was part funded by some of the 100k 1 had made on the share market by buy 5c and 25c shares in companies before they were floated. Started with$ 2000 some went to be worth $13 now about $5 My first invest was pivot shares for 50c for a while they were worth $180 now probably about $60 Now my share portfolio is probably about 300 k but l have only put in about 30k of my own money. I got into property because I didnt know how to acess money in the share market with out paying huge capital gains tax. The bank will still consider them as assets when you get a loan. I have also dabbled in commodity futures market and lost 17k.once but also made a bit. Yes I have 1.3million in equity whatever the relevance of that is.
crusty wrote:Hi , Badger and Dan Congratulations to Badger on your investing sucess. I actually agree badger on his comments on semminars and the morons who take notes on B S. May be I was reading between the lines but I was refering to comments about Tim, and comments like I am wily canny and flexible etc . that made badger sound like a smart arse but when he explained his stratetgy he didnt seem to be as sophisticated as the impression I was getting. It is good to see some robust discussion for a change and some-one finaly challenge some of the propaganda and myths pushed at semminars. My philosophy is I started with nothing and I cant take anything with me when I go, so I am prepared to go with nothing. Just enjoy the ride. I can be be happy with nothing and was, I have a property in asia where I can live on virtually nothing if if I come undone . I could make it into a back packers and make good money. I am lazy and dont like working and dont understand why people do. I am an accidental investor I would see opportunity and think I should buy that and kick my self that I didnt. So I decided I wouldnt die wondering. So when I see an oportunity I grab it, they seem to come along every few years usually in bunches of about 3 which can make it difficult at times. My second property was bought using vendor finance I found out what the vendor wanted, at a time when property was hard to sell they wanted a little more income than their pension but not too much that they lost the pension and other benefits. so they were very happy to accept a low price and a low interest rate but guarrranteed income for 20 years. 2 years ago I wanted them to take advantage of the coming property slump but I had to get them to release their mortgage, to get finance from the bank. so I went to a solicitor and got a contract drawn up I had to double what was paying each weak and instead of the loan terminating in 5 years , I had to pay for the rest of their lives. A win win situation. I immediately went and found some tennants found out what they would pay then bought one house and some land to build another. then last year bought a house, and an option on some land for development, just to day bought an option on a house with large block I hope to subdivide. I also bought a house in 1997, two blocks of ground in 2003 sold the one I was going to build on for 20% more 3 Weeks after signing contract and didnot have to pay any stamp duty. Then built on the other. The deposite was part funded by some of the 100k 1 had made on the share market by buy 5c and 25c shares in companies before they were floated. Started with$ 2000 some went to be worth $13 now about $5 My first invest was pivot shares for 50c for a while they were worth $180 now probably about $60 Now my share portfolio is probably about 300 k but l have only put in about 30k of my own money. I got into property because I didnt know how to acess money in the share market with out paying huge capital gains tax. The bank will still consider them as assets when you get a loan. I have also dabbled in commodity futures market and lost 17k.once but also made a bit. Yes I have 1.3million in equity whatever the relevance of that is.Read your post Crusty – I'm not sure the "started with nothing and can't take anything when I go" philosophy is particularly robust. Surely it's the bit in between that's most important? That's why I want to be secure.
I sort of fell asleep after that.
Badgers_R_Us
Good on you and best of luck.Even though this is the 'opinionated' forum it is necessary to keep in mind how best to state your opinion. It is great to have an opinion, and even a strong opinion, but it still needs to be communicated in a respectful manner.
Additionally, people who read and contribute to these forums have various levels of experience and knowledge and have different approaches to growing these. Please be mindful to avoid opinionating in a way that other people may feel ridiculed, intimidated or hurt.
Your help in this is greatly appreciated.
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