Hi Investors,
I just finished Day 1 of Investors Prime Real Estate Fast Track seminar and here are my honest opinions.
In terms of content it is no different from watching their videos on their YouTube channel. Even the PowerPoint slides they are presenting are the ones used on their videos, down to the words their are presenting.
So if you have watched all their videos then you probably would not find anything new or different on Day 1.
1. Day 1 was pretty much all about introduction to Property Investing. They showed a lot of graphs and charts talking about median prices and how property prices have gone up and up. How experts have got it wrong and the prices are not crashing. He refered quite often to his upcoming book.
As a sales professional, I completely understand. He disclosed that he is a Real Estate agent and he makes commissions off property developers. He is not a Buyers Advocate.
The seminar is Free because it was sponsored by Service providers – Savvi Accounting, Loans Australia and a Real Estate Agency (I cant remember the name)
2. He focus mainly on the topic of Financing albeit it was pretty basic (I guess its fair – you can’t teach this stuff in a 8 hour seminar). It’s more about explaining the concepts of how you should use leverage, debt and property to increase your wealth over time. They did mentioned the perils of using cross collateralisation which I think is important.
3. He did touch on the subject of location specifically focusing on areas with high median income, low stock (property supply), high demand, top schools. He loves the bayside, eastern, south eastern suburbs. His rational is that yes its expensive but these suburbs have more potential to double in prices because of the types of buyers that buys – High income, white collar, professional. He mentioned to stay clear of the growth corridors of the north and west. Yes, great population growth, cheap but too many supply of stock which in turn drive down prices and capital growth over the long term.
4. One presenter that came up to talk was the accountant from Savvi Accounting. She talked a lot of about the importance of setting up proper structures to protect your assets via Trust. This is the most important point that I got from Day 1. I am going put priority when it comes to the structures of my investments.
5. Overall if you are new to property investment and have not watched his videos, I think its good to attend. He gives you an idea of how property investment should be. It is also a good opportunity to network and talk with like minded people and most importantly to get the contacts of professional service providers (accountants, brokers etc). Konrad will provide the names of these providers that he recommends at the end of Day 2.
Ok that is my opinion on Day 1
Day 2
This is the bus tour. They will be taking us out on a tour to visit Townhouse development sites of key suburbs. We will be given a tour inside some of the properties that have completed I think.
(I guess this is where the money is made :)) Konrad have a selection of key properties that he recommends to get.
We will start at
Yarraville
Brunswick
Brighton
Edithvale
Frankston
And finish at Mornington
For a free trip I think its worth spending my 2 weekends :)
Then back to the city to finish up.
Cheers,
Merv
mliew.
