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  • Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    Consider this course: http://www.resultsmentoring.com/

    I’m 1/3rd way through it. I paid $6,000 and consider it well worth the money so far. The main advantage (apart from great home study course/DVD study material is that you can ring your coach (active and experienced property investor) any time (9-5) and discuss the deals you find at whatever depth you need to.

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    I got minus 50. Is that good?

    (Dang. I know its not!)

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    Thanks for all the posts. Yes I mean every day budget (not developing/reno)

    I like the iPhone app idea but I don’t own an iPhone (resisting the expense).

    Looks like it’ll be spreadsheet then. Please email any templates to chiz AATT factplanet.com (and I’ll stick them on my server for anyone to download – assuming they’re not huge)

    Cheers

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70
    KCM wrote:
    Budget is a very important class they should place in the school economic system.

    100% agree.

    They teach kids at school how to fill in a credit card application but not the fact that all they’re doing is spending their own money that they are yet to earn (sounds obvious but they need to be taught this)

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    What? No one has a budget? LOL?

    Someone, anyone?

    Quicken? MS Money? Spreadsheet? other?

    Thanks

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    Thanks for all your hard work Sue !

    Good on ya!

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    My thoughts:

    It was my first time there and overall I thought it was awesome.

    Highlights and nugget gleamed:

    * Set a life mission statement (tick, now done)
    * Li wrapping up his speech talking about a scenario where we’re marking our own life score card on our death bed. How bitter a pill it will be if on our death bed we look at our lifes report card and realise it says: “Could have done better”.
    * Li: How much are you prepared to sacrifice?
    * Li: When obstacles appear (and they will), you have to believe in yourself even more. How much courage do you have?
    * Pat: If you fail once, keep going. If you fail twice, keep going. If you fail three times, keep going. If you fail four times, keep going. If you fail five times, keep going YOU’RE ALMOST THERE!!!!
    * The auction of “a day with Steve” (and quick thinking Steve converting it from a single $21K plus bid to two £20K bids). $40K for charity – how awesome. Did you see the director of the charity’s face! Priceless!
    * WWW doesn’t stand for world wide web – it stands for Wizdom Without Waiting (get a mentor people and surround yourself with property like-minded people). I joined the RESULTS programme. Glad people are saying good things about it.
    * Steve praying for everyone. That was great because he’s not ashamed to hide his beliefs.
    * Lawyer dude was good and knew his stuff. He wasn’t selling DVDs or a system – just getting it out there that he’s smart in this area by sharing his knowledge with his audience. I will be calling him next time I need quality documents (so his silent selling worked – so what!). Steve you can definitely invite him back.
    * Steves Q&A and final wrap-up. Motivational.
    * Networking was great. I started a friendship with a bloke I met who is much like me (45, married, kids etc) starting out in PI etc. We’ve decided to keep in contact and try to motivate each other.
    * Splash marketing: Good presenter. She made digs at both men and women (not sure why someone didn’t like her). Keywords “imagine” and humour.
    * Pat M: Wow. What a personal story. What an live wire! He deserves a place in the conference. Guy was awesome (and very funny). He made each of his “points” very powerfully (name written on that kids stomach: “where you focus your thoughts is where your future is”). I couldn’t afford his stuff because I joined RESULTS but I may buy some of his stuff next year.
    * Mr Daniels: Man he had so much good stuff to say. Encore!

    Neutral-lights
    * I actually bought the memory system from Dan White (great demo of memory). He ran out of time and had Peter Daniels (I think) coming on after so I filled in the form while thinking about whether I was going to actually hand it in. I intended to pause and give myself 45 seconds to answer this question: “Are you actually going to make time to use it”. Then they really ran out of time and demanded the forms off everyone really quickly(Steve: lesson is, a soft sell becomes a really hard sell when under time pressure). I was OK ish with this but the next day I went to talk to Ron (and he remembered my name!). He was very decent about it and gave me a full refund. Good bloke!

    Low-lights:
    Aussie Rob was a really good at presentation. I don’t know what his wife did on stage (got nothing against her). He said she was trading and then asked us to decide if she’d done well but I couldn’t see that she’d actually done anything (except look at some graphs – did she trade?). I only went to his presentation in the main hall. I spoke to someone who went to the 2nd presentation in the smaller rooms. I’m told that he explained a 2nd system that was more complex and allowed daily(?) trading. What happened if you’d already bought the monthly one!

    I can’t see how you can possibly trade by only looking at your trades once a month (sounds insane – they could be down at zero by then!). The thing I have against the system I saw presented was that he made it look so simple that even a 6 year old can trade. Maybe it is that simple but this is also a simple trading system “roll a dice each day and only sell if you get a 6” (what’s the risk verses how good the system is). Steve: I’d suggest you investigate this (the bit I just wrote in brackets) before getting him back.

    Overall
    Way more Pros than Cons. Well done to Steve, his partner and the rest of the team for bringing it all together. I’ve already booked for next year. I’m feeling motivated and have already taken yesterday off work to visit my targeted suburb for the first time and will go back at weekend for inspections.

    On your marks, get set. GO!!!!!

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    No haven’t received them. I thought (but may be wrong) that you collect them on registration at the conference centre.

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    Woo hooo…

    its coming, its on its way :)

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    You may find someone willing to lend 90% (but I’m only guessing here) because an army salary is one of the steadiest incomes there is. I’ve never heard of compulsory redundancies in the armed forces.

    The reason to be wary of investing in hotel complex rooms is….

    Don’t look at answer yet…

    ….think about who you’re going to sell to?…..can you guess?

    …. the only person who is going to buy it off you is another investor (hence limited number of people who want to buy it)

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    J900,

    I sold a spare one last Friday. PI are not doing name transfers during May (only prior to May) so sorry, you may be out of luck even if you can find someone who is selling them. Your only option now is to buy one at full price

    If you go to the web site it says there are only 7 tickets left https://www.propertyinvesting.com/seminars/2010-conference (if I were you I’d buy one even though you’re paying a couple of hundred more than people last week – just swallow your pride and think to yourself: where else can you get 30 full hours of expert information for only $33 per hour – its still an absolute bargain!)

    Note: you collect your ticket at the conference by presenting ID.

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    Luke,

    Read Steve McKnights book “0 to 130 properties in 3.5 years”(get the updated one from 2009). It’s a FANTASTIC overview of all then various investment strategies.

    Then go to all free seminars you can and learn how they use them to sell you off the plan houses. Don’t buy anything because they are usually in areas that won’t perform too well (areas with lots of spare land, lots of supply). Learn what not to do.

    Go to all of Steves seminars (both free and paid) and then you’ll be ready to get going. Remember: One way of another, it’s going to cost you to learn this game. Do you want to learn from your mistakes or from someone else who has made them already? Get to local investor meetings. Learn, learn learn. Then go make $$$ :)

    Good luck.

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    This is the only thing I’ve seen: https://www.propertyinvesting.com/seminars/2010-conference

    Is there more information on when each workshop is (and on which day?). I emailed the P.I. office on Friday but got no reply.

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    The impression I’ve got is that there are multiple rooms with different speakers and we have to decide what to go and listen to.

    Is that the impression others have got?

    If “yes”, have they told us that workshops are on at which time yet?

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    Another smart 20 year old something. Good on you Jared. I wish someone had given me a slap when I was 20 and said “concentrate on this idea for the next 20 minutes”. I’d have been worth 10 million by now.

    So good for you – keep focused on it. Learn as much as you can and you’ll go far!

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    Reported to admins…
    <edit: thanks Chiz, offending post from above has now been removed (moderator )>

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    If it was my daughter I’d go the trust route.

    You obviously want your daughter to “keep” your gift whatever happens. Sadly, without a trust there is a way she could lose part of it.

    Examples:
    1) She gets sued (maybe by a tenant); or
    2) She gets married and then a few years later gets divorced.

    Again, sadly the second scenario is not uncommon these days. Setting up the trust now before there is any hint of a marriage is perfect timing because once she’s married, gifting a property via a trust will raise all sorts of questions from the husband (its a mine field)

    Good luck :)

    PS The reason I put “keep” in quotes is that she’d control the assets in the trust without ever owning it. If she doesn’t own it, she can’t ever lose it.

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70
    Wyeth wrote:
    …and then a 3rd property after that for me to live in with my partner and renovate..

    AROOOGA AROOOGA.Red flashing rotating lights :D

    Live in and renovate!

    Yes a good way to save and increase capital – just as long as you’re a handyman AND both of you are prepared for the stress of living in a dusty mess for a year (?)

    Not trying to be negative – just be careful to talk it through and know what you’re getting into.

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    Sold now. Thanks for inquiries.

    Profile photo of ChizChiz
    Participant
    @chiz
    Join Date: 2008
    Post Count: 70

    Hi Warren,

    If you’re even part way through Uni I’d suggest keep going – no question about it.

    One advantage of being a student (over us full time employees) is that you have a few more hours spare per week. You don’t have the income but if you can find property that is ripe for reno / developing and then partner with someone who has the borrowing capacity you should be able to make some money.

    I’ve not done this but consider this: Find a property. Post something back here that shows its a project worth considering. Get any interested parties to sign an agreement that they can’t buy the property (that you’ll reveal to them) without them owning you $XXXX (whatever your expected profit would be).

    Others may have ideas on how to do this legally.

    …but don’t give up the Uni course yet.

    I wish I was into property when I was 18. I’m 45 and only just getting going (I’ve got 20 years until retirement so its still plenty time). Your course probably will give you a better income when you finish than without it. You need a carreer in the short term (10 years?) before you can consider giving it up to do property full time (you need the best income possible so you can leverage off it with the banks – and borrow lots).

    Be patient – you’re already pointing in the right direction. Educate yourself in property (see this post – get to the mega conference).

    https://www.propertyinvesting.com/forums/community/forum-frolic/4331974

    Good luck

Viewing 20 posts - 1 through 20 (of 55 total)