You must be joking right?? Property Market bottomed “M.Yardney” … secrets by REIN … How to control 2mill with $x by Fitzy??

Hi D,

you make some good points. I don't believe the market has bottomed. That may occur in another 6-12 months. BIS Shrapnel are amongst the more pessimistic of the forecasters and they are tipping a further 0.5 % rate rise this year and maybe in one hit around Sept.

I seek my information from books, online sources, networking and attending seminars. I have to admit that I have learnt from both Michael Yardney and his events and from John Fitzgerald (I assume that is who you mean by 2. Fitzgerald), amongst others.

Many of these companies do offer guarantees in some form such as rent guarantees if your product is not finished within contract timeline. I know for a fact that John Fitzgerald actually coughed up and finished numerous properties for his clients when a builder went belly-up a few years ago and then got re-imbursed by insurance later. He didn't have to go to such lengths, however property is a relationship business and you need to keep the customers happy. I know him personally and he is definitely not like Henry Kaye.

Having said that any company guarantee is only as good as the $ 2.00 entity behind which it hides. Times are getting tough to move stock and so I think we will see plenty more advertising to move stale/stagnant stock or projects under completion with few buyers. There should be more opportunity over the next 18 months to be picky and choosy about what we invest in…eyes wide open……….and,   Caveat Emptor.

ASIC is an absolute joke, as HG and Roy would say, will only ever act after the ballong goes up. Thety have become just another income collector of the gumnut.

That  said, what you have described it counter the cycle, as public sentiment is all time low, unempolyment moving up, loans figures have slumped and building activity lowest on record (only kept since 2005). …..but these guys never let facts stand in their way before so why now..

Jon are you inferring that I cannot back up what state ??????  I only deal in facts, go over my posts….

If not referring to me please don't take offense,

I agree with your comments, however to call them thieves & robbers would imply they had no CHOICE but to hand their money over, the fact is they did have a choice, and some responsibitly must lie with the investors,  It has happened before and will continue to happen, with even so called "blue chip" companies not immune.

Hang on for a minute.  The cosmetic industry makes billions and billions of dollars every year from selling products that don't work.  Should ASIC shut down all the cosmetic companies too?  What about the weight loss industry?  What about Lotto – should that be legislated against too?  After all, the television adds suggest that if you buy a ticket in Lotto you could win it yet the chances of winning lotto are far smaller than the likelihood of making money from attending and applying the principles taught in several property investment seminars.

Property investors attend seminars of their own free will.  The majority of us are not silly enough to believe that you can really control $50M in property with no money down.  If people get "sucked in" to believing the hype then they have to take some responsibility.  Most people who buy properties from seminars and lose money on the deal do so because they don't do their own due diligence.  And there is no excuse for that.

I agree that when "spruikers" deliberately steal money from people there should be some ramification but for the large part, if people to choose to spend their money on a product that suggests an unrealistic outcome then they really stop trying to blame everyone except themselves.

I spent 5 years at Uni and several thousands of dollars getting a law degree.  Yet when I finished I was working with a bunch of miserable people.  I was the ONLY person working as a lawyer that I knew who didn't hate it.  Should some regulatory body step in and ensure that the Unis offer some money back guarantee if you hate your profession at the end?  After all, they are advertising their courses with young beautiful happy faces.  I can tell you, I didn't see very many young beautiful happy faces at any of the law firms I worked at!  I saw pasty, chunky, unfit 20 – 40 something year olds who worked 16 hours a day.

Do we really want to live in a world of Big Brother where everything we do is watched over by someone to make sure that no-one will lose money over a deal?  The whole advertising industry would shut down.

I remember hearing a saying a long time ago that was something to this effect.  "If all the money in the world was divided equally amongst every person in the world, within a few seconds some people would be broke and other people would be millionaires".

Cheers

K

Thanks for admiring my good looks and my newsletter.

I'm not really sure what you read – I have not been on record saying the property market has bottomed. There is not one "property market."

Some regions have done very well over the last 18 moths – haven't they. The latest figures from Residex show that the Melbourne Median price went up 16% in the last 12 months, and similarly in Brisbane.

I wouldn't buy property in Sydney's western suburbs – would you?

Ladies and Gentlemen (The term Gents is for a toilet, not a person);

I have attended many of these conferences and continue to find them of great motivation and an excellent oppurtunity to network with other motivated players in the property industry.  That being said, I still struggle to be informed of any new 'key' information that will dramtically change my ways.

I think we all have taken a number of years to study, research and live the cycles we choose to use to make our investment dollar.  This is what I enjoy talking about whilst getting coffee in a conference break, but I am frustrated at the use of a paid event to advertise further packages and more detailed training courses.  Michael Yardney, I give you a significant amount of credit for the work you have done in educating property investors throughout Australia and the probably the rest of the world; but good Sir, can you please not use one hour of your seminars to advertise 'what Metropole can do for you'.  I have experienced this a couple of times now and I'm sure that you are not the only one in the industry who uses thisgreat oppurtunity to promote your services. I am by no means implying that many many people have not done extremely well from the use of the your companies services. Quite the opposite.  Those reading who have not heard Michael or spoken with his team, I highly reccomend it so that you find out what YOU can achieve.

I will go out on a limb here to say that Australia has one of the best property investment cultures and knowledge bases in the world.  We have been blessed with a fair taxation system that supports basic investment techniques and have a number of investors utilising it at its lowest levels.  Where we are lacking in this area is training and support for the mid level (have two properties and wan't to make something real of it).  This demographic has ready income to purchase expensive seminar tickets and are fully aware of the tax deductability of self education expenses!  But it appears that the education infrastructure beyond this level is sposored and conducted by those who serve to profit from it's teachings. 

Other options for recognised and controlled training include the Realestate Institutes and the Financial industry training. The institutes exist to further the network of Agents and Rental management within each state and territory.  Real professional development in property investment will not be gained through them, and financial services training will make you master of insurance bills and superannuation rules.  None of the supervised training courses will be much good to the aspiring 'Donald Trumps' in suburban Australia.

So what does a serious property investor need to be? A marketing specialist, social scientist, artist, negatiator, student of history and a person with self belief.  I know I can at get at least the basis of these skills from colleagues in forums like this and through my own trial and error.  I pay enough for expert advise and compliance with Government requirements, I don't need to pay to learn and then end up paying to be sold a product.

Supervision is needed in the property investment seminar industry.  A disclaimer and Product Disclosure Statement should be seen as the minimum requirement for attendance at any conference conducted by industry service providers.  After all, what product do you get for your $100?

I'm normally a positive person.

Falvs