Forum Replies Created
Dear oh Dear
These posts just show the extent to which those concentrating on making money as their number 1 aim neglect to keep up with other issues.
Sigh.
Simon,
1. No it is not illegal.
2. Women who enjoy women-only spaces are not necessarily intimidated by men although many have reason to be. Women enjoy women-only spaces for a whole host of reasons, just as men enjoy men-only spaces. That might just be enjoying your same sex friends.3. Men still hold most of the power in most of the world in every facet of life. This is not enough for you? You still want to muscle in on organisations set up specifically for women? How greedy and, it has to be said, typically male, is that.
4. What disadvantages do women face as investors. You’re joking, aren’t you. Aside from the fact that this is not the basis of having a women-only organisation – women enjoy having other women-only spaces just as men enjoy men-only spaces and despite what you say, Simon, there are still many of those; – yes, there are significant disadvantages which women will be well aware of and the fact that you are not just shows how entrenched in your male privilege you are. You have obviously never talked to women about how it is for them, talking to real estate agents, or tradesmen, or any area of life where men think they know better than women (just about every area). Generally, men get treated with greater respect, deference and advantage than women. Many women experience this every day of their lives. Of course, there are exceptions depending on personalities and skills. But this is the general experience of most women.
Sorry, Dr X, you obviously live in a bubble of privilege that cushions you from these experiences. However, knowing a little bit about you I’m willing to bet you don’t do much separately from your husband, ie you act as a team and even if you are interacting alone, the people you’re interacting with will know you’re part of a couple. So I don’t think you’re in a position to know or to make pronouncements.
Mat, you’re behaving like an idiot and just underscore the reasons why women might want to have forums where they can meet away from idiot males like you.
Troy and Wendy, go for it. There’s a market out there.
Yep, I have a horror story…NZ Bird Dogs just sold me a lemon! Barb Griffin, aka Mini Mogul, found a duplex in NZ that looked great in the pics…only her people on the ground had failed to do a proper inspection and discover (or if they did they didn’t tell me) the downpipes stuffed full of congealed leaves; the carpets crawling with bugs eating them; the fact that the flats get no sun.
For these reasons, one flat has had no tenant for two months.
And yep, when I pointed all this out to her and asked her what she was going to do about it, she said “good luck”.
Good luck alright.
Be very very careful about using agents. Check everything. And never, ever use MiniMogul.I agree with Kay and some others. Jenman’s commentaries are very entertaining and right on the money! What I think particularly hilarious is that the post which kicked off this thread, although ostensibly written as a high moral ground post, actually commits the very sin that it rails against:
“In short, while Neil sees fit to unfairly attack people’s character to promote his business, I won’t allow the same to happen here for risk of being on the same low footing.”
Well done, Steve! How to get a free kick and appear to maintain the high moral ground at the same time! In any case, it seems to me that Jenman doesn’t attack people’s character – but their actions, which is the essence of free speech. Those who can’t take the criticism obviously have some issue with free speech. Yes, it’s fine – as long as it doesn’t question your sacred cows, the ones upon which you are building your lives and your ethics! Maybe Jenman is pricking your consciences….
CruiserHi Cazz,
I know what you mean about the risks of mining towns, but Mt Isa is still booming, with yields of over 9%, and it really depends how long the life of the mine is. I know a lot of Ed Burton and other investors bought into Moranbah three or four years ago and doubled their capital investment within a year or so. If the yield is still good and demand for rentals high, then it’s probably safe for a few years yet. You might find it expensive to build there though.Hellman, where do you suggest Chevy invest the money to get 12%? That’s quite a return.
Commonwealth Bank and AMP offer 0.5% off the SVR i.e. 6.82%, both also offer a one year introductory 6.19% rate, after which you can switch to the 6.82%. With Commonwealth you have to qualify for their wealth package which costs $300 a year, AMP says they’re currently waiving all annual and monthly fees related to the profl package.
I think a lot of the extra costs you don’t budget for are in the loan documentation – fee to attend settlement – deferred establishment fee – etc. etc. It is infuriating when they hit you with something you didn’t expect, yet signed up to in the loan contract, because the contracts are so huge you never read all of them.
I wonder if brokers examine these ‘hidden’ costs and put them into their evaluations?
Thank you muchly.
Regards
CruiserThanks Benson.
You mean, I signed the contract to buy in July 04 so as long as I don’t sign a contract to sell until July 05, then I get the concession?OK, I stand corrected, but I’m surprised. Seems a bit harsh to lose everything you’ve put in.
Cheers
CruiserI agree with Robert and disagree with Qlds007. There would be a caveatable interest under equitable principles. He would be able to get back what he has put in.
Hi Gold Coast girl and others,
I recently cancelled my Gold membership too, and since this thread has resurfaced, I thought I’d share the reasons why.
After getting promotional material from Ed last year, I decided to go to the seminar because, despite the hype, he said he had 25 yrs experience as an accountant, and some serious qualifications. However, his seminar was very sketchy and very expensive as the reviewer who started this thread noted. There were some ideas which I personally had not come across before, so I got something out of it, but later I have discovered many of the same ideas in Margaret Lomas’s books, only in much better detail and explanation.
A couple of weeks after the seminar, Ed bombarded seminar attendees with hype encouraging them to become members of the “Inner Circle” – pay an unbelievably cheap $280/month and get Ed as your personal coach and mentor, plus all the inside information on the “hottest” positive real estate areas, “detailed research of specific suburbs, including findings and recommendations.” The sales letter promised that Ed’s website included “22 postcodes on our ‘buy’ list. We have looked at 182 postcodes that might fit my strategy and selected only the very best.”
Sounded good. Despite misgivings and a tight budget, I signed up for Gold membership.
Alas, it appeared that, by the time I did, Mr Burton was getting out of real estate, and was spending less and less time on the subject during the teleconferences, and more and more time on his main love, marketing. He admitted he was no longer buying property (“I mean, when do you stop?†= obviously too early, if you’re a real estate mentor). The promised research was nowhere to be found on his website, which contained very scant information, really only for use during the monthly teleconferences, which were the most useful feature of the membership because you got to hear from the other members, who, like the members on this website, had a significant amount of knowledge between them. However, Ed did not seem to like requests by people to get in touch with each other, and would insist that people only revealed their contact details through him by fax.Like others who have commented in this thread, I find his “this is God’s work, I don’t do it for the money, I only want to make you guys millionaires†line offensive and ridiculous. If he was really interested in turning members into millionaires, he would have made his website into something like this website, where people could freely exchange information.
As it was, I grew increasingly disillusioned, as month after month he spent time on matters outside the promised areas, such as marketing, was offensive and contemptuous towards members (“I mean have you ever met a smart lawyer?†“You’re an idiot.â€), and frequently cut short people who were sharing really interesting information, in order to move onto his new baby – marketing asset protection consultancies. This is what Mr Burton is pouring all his energy into currently, having been sued himself early on in his career which seems to have left him with an insatiable bitterness towards anyone seeking to redress grievances, whether justified or not – they all merit the term “scumbagâ€.
And the price tag on these “Asset Protection Consultancies†is just like his price tag on his other products. $22,000 to buy into a business of scaring ordinary people into buying asset protection measures they may or may not need, at very inflated prices due to the fact they are buying them from these middlemen Consultants, fully backed up by the Ed Machine.
During the seven months I was a Gold member, I only remember hearing Ed make one recommendation about where to buy. People would constantly ask, “Where is a good place to buy, Ed?” His continual answer: “Cairns”. “What about Tasmania?†“Can’t help you there.†“What about Moranbah and Mt Isa?†“Yeah, some of “the guys†have bought there, but I wouldn’t touch them.â€
At least he disclosed that he and his family owned dozens of properties in Cairns, but what happened to the 22 postcodes that his sales hype promised fitted his strategy? No-one ever asked him! See, by the time you get on these teleconferences, you’ve largely forgotten what all his hype material promises. Plus, there are dozens of other people on the line, treating him like Mr God (wow, he has so much money, he’s so successful). Genuine? Yes, he’s genuinely interested in making lots of money – but he insists he does it because it’s “God’s work†– and that just doesn’t add up.
The upshot is, Mr Burton’s sales material was misleading and deceptive. He did not deliver what he promised. He was rude and offensive. He also made untrue statements. One woman asked in the February teleconference, “I’m having difficulty renting out my house in Cairns (surprise surprise, after all the investor activity there) – have you heard others having the same problem?†– to which Ed replied, “No, no, I haven’t heard that at all.†Yet he had himself made reference, on two previous occasions, to other people who had also found the same problem. Too busy? Too many things going on? Got confused? Maybe. In that case, he shouldn’t be “mentoringâ€.
Suffice to say I got very little out of those sessions. One other Gold member accurately commented that about 10 percent of what was said during the teleconferences was useful. $280 for 10 percent of 90 minutes, i.e. 9 minutes. Nice work if you can get it. And oh, those one-to-one telephone calls with Mr Burton? Unless you’re unemployed and have time to redial fifty times, forget it. If you’ve got a day job and you can spare only a few minutes, you will likely not get through, because Mr Burton has so many members all trying to get through on the nominated days, that the phone is constantly busy. And even if you do make it through to him, prepare for him to be rushed, he won’t explain concepts properly, he’ll give you broad brush strokes and a lot of verbiage that leaves you feeling confused.
The final straw was the following conversation, where I dared stick out my neck, despite the hordes of Ed devotees on the teleconference in February. Mr Ed told followers that his wife Kath had dispensed with the services of a Cairns real estate agent because he wouldn’t, or couldn’t, rent out one of her houses.
Ed: “If Kath doesn’t think a managing agent is performing, she doesn’t stand for it.â€
Me: “What would she do?†(bearing in mind she’s signed a legal contract with the agent).
Ed: “Piss off!â€
Me: “I beg your pardon?â€
Ed: “Piss off! Can I make it any clearer?â€
Me: “Er, yes. Do you mean she would rescind the contract with the managing agent?â€
Ed: “Well I can’t give legal advice…â€
Me: “I’m not asking for legal advice, I’m asking what Kath would do.â€
Ed: “Well fax me tomorrow and I’ll tell you.â€
In other words, spend more time and money than you’re already outlaying, in order to get the information I promised to give you for $280.
In short, I would never have entered the twelve-month contract with Mr Ed for Gold membership, had I known how far short it would fall of his marketing hype.
Seven months through, I cancelled the contract, and Mr Ed accepted the cancellation. I only wish I could have got a refund, but that was something he did not offer.What remains with me, is the gullibility of so many people out there, who continue to allow people like Ed to get away with not delivering on their promises.
So Gold Coast Girl, if I were you I wouldn’t waste one second on regrets. The only thing I miss is the contact with other members, but as that was seriously limited by Ed anyway, this is a small loss, and I can more than make up for it by making contacts through this site.
As for Ed’s material – it’s worth nothing to me. Anyone out there who wants to pay the postage, can have his manual and 7 months of CDs for free. I reckon Mr Ed has already been paid handsomely for the effort he’s put into it.
Regards,
CruiserA bank can discriminate on any grounds it likes, except those existing in the anti discrimination acts. those grounds include age. the bank will tell the bfso they are discriminating on teh basis of ability to repay. You can still try a complaint to the BFSO but I don’t think you’d get far.
Banks get it from the other side, people like me complaining that they have lent $ to those who can’t afford to repay.
The BFSO will probably find they are being responsible.Me too, David. I also know some other people in Coffs who would be interested.
CheersTerry,
are you saying that because you presume so, or do you have Jakobi’s stuff?
CruiserHi Jaco
I have an IP in the Isa. You can find heaps of IPs there on realestate.com.au. Am happy to share info with you if you want to email me.
CruiserYes, I’ve seen the property. What happened, the vendor agreed to reduce the price to $190,000 as long as I accept responsibility for outstanding requisitions.
regards
CruiserI think all you guys are far too harsh on Jenman! All he is doing is drawing attention to the times where Steve has sailed close to the wind – and been called to account. That is surely a good thing. Wrapping can indeed be a bad thing for some people. And if gurus are being misleading in their claims, they need to be reined back in.
Even if it’s Steve.Regards
CruiserHi Jenny. Sounds like just a few minor hitches there. Yes, I have a real horror story, involving using a buyers agent who didn’t do her job properly, bought IP 3 flats remote Qld town, building reports OK, have subsequently spent thousands of dollars on doing needed repairs; plus, one tenant broke her lease early and put in replacement tenants from hell who trashed the place; made insurance claim which covered most of it; finally, no real estate agent wants to manage the flats so I have to get it done privately.
If you ask me, you sound like you’re doing great!Cruiser
Tony,
Just explain the last part? – “that $150k property will create $253k equity”?I find the PIA is largely a waste of money, it’s just rubbery figures. The calculation formulaes in Margaret Lomas’s book are much more helpful. She also has free calculation software you can download if you buy her books.
