Hi all,
I have just returned to SA after a few years living in the USA. I have always had an interest in creative investing, especially Lease Options. However it appears SA isn’t the best state to attempt LO for legal reasons. So I figured is educate myself in straight options, and holding property for purpose of redevelopment, subdivided etc.
When searching, the names Mark Rolton & Zaffar Khan seem to be the most common, however they seem to have a high percentage of negative feedback.
I don’t mind paying for education, I just don’t want to be scammed!
Any suggestions of good courses, seminars, mentors in this field?
Thank everyone!
G'day Mark
Welcome back and thanks for the PM. As I mentioned in my answer to your PM, just because you're currently living in SA may not rule out your interest in Lease/Options. We live in NSW and now do vendor finance transactions throughout Australia so, if that's the way you want to go, don't let SA rule it out
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
In my view many of the courses that are offered are designed to sell courses and not much more. Its not that the information is bad it just a course that says you can be a property developer after a 3 day course is wrong. If you have little real estate experience it takes time to gain the knowledge.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Hi Nigel
I agree that most of these short courses have an up-sell at the end but even McDonalds came up with 'would you like fries with that' while serving you a burger
It's important for attendees to realise they are getting basic foundational information at these short courses and to investigate, before they attend, how they plan to round out their education, i.e. either via the up-sell course that's going to be offered or by another means.Unfortunately some of the subject material covered by these short courses isn't available in your local library and these courses do provide varying levels of useful information. Some I've attended sell 'all the information and support you'll ever need'
in the up-sell course. Others I've walked away from with brilliant manuals that I've been really able to get my teeth into.Like books, some are good and some aren't so good. However these courses aren't cheap and while I'd never suggest you shouldn't attend, I do suggest you respect your dollars and do some due diligence on the course that interests you.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
I couldn't agree with you more Paul. I read a $18 book on Vendor Financing that I thought contained hundreds if not thousands of dollors in educational value, yet I've done a $3000 course that was very thin on information. Also a lot depends on your expectations. If you are doing a "FREE" 3hr or 1 day introductory course then expect it to be a teaser, propbably missing much of the meat & potatoes required to implement the technique. Yet if you spend $5k+ for a course or $20k+ for a bootcamp/mentoring program you expect no stone left unturned.
DD is the key, hence I thought I'd start here collecting feedback on currect books/courses/mentors
Thanks Paul, its been a long time mate, look forward to chatting/catching up!
Hello Batts
I have actually purchased Zaffers home study and attended his 2 day workshop a couple of years ago and I found that pretty good value for the information provided, I think it cost around $497 – and yes it was a sell to a mentoring course from $5K of up to $25K depending on level of support which I declined to take up – I have seen Mark Rolton present a few times and walked out of a multi speaker event he was at last time but he still gets them in at $6K a pop – And then trains them up to be his spotters finding deals they could never do themselves on a promise of huge profit share arrangements – If the punters actually realized people get paid $100K pa plus to do that job. But what puzzles me is you say Lease options both of them deal in Property Options.
I thought Lease options were like wraps and vendor finance – iIn which case there are a number of other resources to consider like Steve McKnights book.
Trust that assists – Cheers
Oh and I forgot to mention Marty Alyes is the Adeliade subdivision specialist – he spoke at the Mega Conference – as did I on Subdivisions but I am NSW based
Cheers
MichaelHi Batts
Here is the link to someone sellig a Rick Otten homestudy course – he does lease options wraps etc not sure if that is what you are looking for
cheers
KeyStrategies wrote:Hi BattsHere is the link to someone sellig a Rick Otten homestudy course – he does lease options wraps etc not sure if that is what you are looking for
cheers
https://www.propertyinvesting.com/forums/community/buy-swap-sell/4344869
Hi Michael,
I appreciate your posts and comments regarding Zaffer & Rolton. Yes I do understand that Rolton/Zaffer are property option, as opposed to Lease Option but as I stated in my initial post South Australia isnt a very friendly Lease Option state, or any type of vendor financing for that matter. So I thought I would try and educate myself on different techniques such as straight property options.
I have actually completed a Rick Otten L/O Bootcamp several years ago, and also a couple of L/O bootcamp whilst I was living in the USA, all of which I found very interesting. I suppose to wet my toes, and with my lack of experience Id prefer to do my first couple of deals close to home, ie in South Australia. This rules out Lease Options. Trust me to move back to the most unfriendly vendor financing state in Australia!
Thanks for the tip regarding Marty Alyes, I will check out his stuff now.
Appreciate your time and posts Michael, thanks for the help!
Regards,
Mark Battersby
Hi batts,
i recently attended mark roltons property options course. i attended an intro course in perth and then signed up for the 3 day boot camp covering options plus more. for me it was worth the money, as it short cut the amount of research i needed to do, and also if i wanted an opportunity to go joint venture with Massland, Mark's company to undertake deals and with no capital i could attain deals through an option contract and get 20% of the profit depending on the project type for the first deal and 35% for subsequent deals. The course content including, cash flow techniques, property options and other strategies like SMSF, developments. using subdivisions. I total over view. As i expected there was more money to be spent ta the 3 day boot camp, with a further training course called conclave, which massland go joint venture in bigger deals, like $5million-25million worth of capital to fund projects the development project life cycle. Here the slit is 80% your cut and 20% Massland, you have to find the deals, and make the first face to face nogiation, but you have access to the team advising you all the way through
I was skeptical so, i came back and i have a lawyer reviewing the JV criteria and contract, while i educate myself on the ins and outs of options and working towards development, and then i make take the course if i need the funding.
If anything Mark Rolton is an amazing salesman, and a good motivational speaker. I dont think options ar eas easy as hes making out to be, you have to find a seller that doesnt really know the market, if you add value to a property and make a profit from it, more than likely the seller will realize what they aresitting on, and will be hesitant about signing a contract for optioning the property with a 1k. option fee – will be quite challenging. But good experience in negotiation none the less.
I have downloaded quite a bit of material, to go with the option cd set the i was provided with marks course, like Robert Kiyosaki, and other investment books.
I think Perth, there is a lot of opportunity so this is a good training ground, im am starting to network, so i can find a mentor in Perth undertaking similar strategies.
Good luck
Hi Batts,
There really isn't anything stopping you from doing your first transaction interstate if you really dont want to do lease options in SA, although from my understanding SA is fine with lease options but instalment sales are ruled out due to laws in SA. Once you do one 'remote' transaction you'll see how much easier it can be to not HAVE to see the house when sellers ask you to…
Cheers
Sheree
Yep Lease/Options are allowed in South Australia but as mentioned at Tony Cordato's http://www.vendorfinancelawyer.com.au site, 'In South Australia, Lease Options are limited to a term of 6 months.'
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
