[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

September 16, 2005 - 7:28 am

Acey said:

“And one of the symptoms of cult membership is a refusal to acknowledge that what you are involved with may be considered a cult.”

hehe. So if I say I am not in a cult, that merans I am in a cult? So all I have to say is that I am in a cult, and then I would not be in a cult, right? Sorry, that kind of logic is like witch burnings. If you drown, you are not a witch (but you’re drowned) and if you survive, then you must be a witch (so they’ll burn ya). It’s unwinnable either way.

An assessment on any kind of cult-like thing, or fascist state is whether the system/institution allows criticism. Anything that is democratic and allows criticism is not a cult (I reckon) and anything that constantly silences criticism is, if not a cult, well, it certainly has fascistic tendencies.

As far as cults go… well, some people are looking for heroes. If it is not a real estate guru, it will be a sports star, a god, or something else external. People will be safe from cults if they think they themselves are as good as anyone else. We all have different skills, but really, if people think money, or some other such tangible, makes someone a god or a guru, well, it’s kind of sad. The hero is self- that’s all there is, so why look outside self? you’d only get disappointed.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

September 14, 2005 - 11:31 am

I was given a free ticket from a PI.com forum member, but discovered the seminar was *absolutely* not for me (I then gave the ticket to another forum member who enjoyed it more than I did. I did try to enjoy it… Upshot was I neither laughed nor cried, but just wanted to hear some info. I found all of the dancing people in matching tshirts to be quite a distraction, and TR made everyone get up and dance all the time. [confused2] I think if someone wants to go to a kind of dancey/party “upbeat” kind of event, then they might enjoy it, but the info is really thin on the ground, and the constant talking by AR with the only break being a whoopy dance session- well, I found that quite tiring. To me, it seemed more like Hillsong than any kind of informative seminar.

If one really needs motivation, or is really down from a number of crises in their life,then this might be for them. As for me, my motivation depends on my finances: if I can afford, I do; if I cannot afford, I save. Simple.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

September 14, 2005 - 10:44 am

Good on you Mr Gatsby Long may you reign [party]

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

September 13, 2005 - 8:23 am

AussieXJ,

I am not a believer in sharing of finances. Every risk I take and buck I spend is MY worry, MY concern, MY loss, or MY profit. I don’t think a partner should be convinced or cajoled into investing with another.

I think you can invest your own money into your adventures and ventures. If you make money, then you can have time and money to travel- as is your wish. If your ventures are successful, no doubt your partner will see the fruits of your endeavours and sxhe’ll be screaming to climb on the investment cart. If you feel like you *need* her finances to fund your investments, then it seems unfair- it’s just like asking someone for a loan.

If she doesn’t want to invest with you, then I think that’s her right. I look at half the cokamamie (sp?) schemes involved in real estate and would NEVER put my money into them. It all depends on what you want to do. If you say you have a “big picture” without much focus on the details… then I am completely unsurprised she has no great desire to rush in. Also, asking forum members about their “tactics” to get someone involved in financial ventures… well, that sounds kind of manipulative to me.

I don’t think that someone who earns their money and doesn’t wanna chuck it away has some innate character flaw. A LOT of people have lost money in real estate- and if their partners stayed out of the financial investment- well, I bet the partner is lgad they did- *despite* them being told they would be missing out on great fortunes.

I really think any person should be able to spend their money- or invest it- or not- as they choose. You might make a fortune- or you may lose it all- who knows? If you lose all your money- well, sometimes it happens. I prefer to have all risk, and all profit/loss. Entangling relationships and finances… well, it’s like working with a partner- I think it’s best to split those things.

I know most people probably have more traditional relationships of sharing money… but really, if you go down and your partner still has money, at least she’ll be good for a loan [inlove]

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

September 9, 2005 - 5:25 am

WildOne,

Whilst I see where you’re coming from, I also think one is better off taking a little time and learning all one can about, for example, real estate, before jumping in and making too many mistakes. So, let’s look at it this way… your averasge person may be better off buying two properties over two years- but purchasing really well, than buying ten properties over two years, and then losing money because they rushed in.

I know the above anecdote is all about motivating- as in, the one you quoted… but there is also a different side to things. The “just do it” “act now” “sign here” “write your deposit” mentality might be good for some, but how many people act before they think?

As for me, I would prefer to think before I act, ensure I have the knowledge that what I am doing will have some reward, and undertake due diligence. Shortcuts and haste might work for some, but remember the old syaing, “fools rush in…” Remember all those first home buyers who bought a place in the RE boom- who needed to “GET IN NOW- BEFORE IT’S TOO LATE!!” I wonder how many of them now wish they have have waited a while, now what prices have bottomed.

I absolutely believe in making mistakes and learning from them- we all make mistakes. But real estate is about lots of money. To me, if you take time, you don’t waste money- my motto for the day

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

September 6, 2005 - 6:14 am

Milly

I think you’re in a pretty good position, although you sound like it’s a bit tiring for you- and no wonder. Investing, working and raising 4 kids can be pretty tiring, no doubt.

You have $1 million assets, and 300k debt, so you have 700k equity- pretty good position to be in, I think. Your biggest assrt is your PPOR, but if you want money making money for you, you could sell that and rent for a while. It sounds like rents in Ipswich are pretty cheap. If you invest the PPOR money into CF+ you will be pulling in a lot more than you’re pulling in now. If you sell the IP’s, you’ll be paying CGT, whereas if you sell the PPOR, you won’t.

As far as guarantees about future growth… I wouldn’t bet on it. I think you need to go on values *now*- not some hope of potential gain in years to come.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

September 6, 2005 - 6:01 am

Mitzu,

It sounds like there were many holes in this purchase. The first thing you could have done was checkc who was tenanting the place and what date they would be vacating. It seems as if your lawyer was not communicating with their lawyer. Your lawyer sounds pretty slack. Thing is though, your lawyer is there to advise you, but you signed the contract. So the buck may stop with you. How could you both have missed such a clause? Caveat emptor. for next time.

It seems to me that targeting distressed sellers is probably causing hassles everywhere.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

August 31, 2005 - 1:54 am

I think the point is that some people have to work. It wqould be bad if we went to the supermarket and noone worked there anymore- because they didn;t want a J-O-B and had become fulltime property investors. I guess it would be a bummer too, if we went to take our kids to school and the teachers had left ther J-O-B to invest. Some people actually enjoy work- lots of people- and I guess you hope your children’s teachers like their job, so that the children enjoy learning?

I for one, am pleased that if I go to a doctor or a hospital, that there are people there to look after me, and that they’re not all too busy being full-time investors to be able to spare a minute to be an ambulance-driver.

And who would pay rents if everyone was a fulltime property investor? I think we shouldn;t be so quick to put down workers- not merely because they actually *make* society- but also because it is not good to have contempt for your bread and butter.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

August 30, 2005 - 11:08 pm

Property Passion,

I usually run ideas by my family, my ex- who is also involved in property, and a couple of close friends. I like hearing the ideas of people who know me well. Those people are not merely interested in the numbers- they are also interested in *me*. If I ewanted mere affirmations, I would be able to find plenty of them- sure, why not go for 105% loan- together with LMI… but really, that isn’t my risk profile. So I ask others about their thoughts. I think if we don’t want to hear the responses, we may as well not ask the question. I also think that the only way that some people- non-investors- perhaps family members, will feel comfortable with our plans, is to see something work out.

I think about my mother, for example- she’s 78, and doesn’t want me to be in strife. Investing involves a lot of money, and the numbers do her head in. So I have a choice- either not tell her what I’m planning, or tell her, and then listen to her misgivings. I’m ok with the latter- she’s entitled to her view, and she cares about me. There are other people I speak to who are more financially savvy than mum, and they might critique the numbers- that’s ok too. I don’t think all people who have a cautious approach are “jealous”. Some just care.

If you need affirmation, there will be plenty of people around who can give it to you, or give you their own opinion. Real estate is a numbers game. It would be a pity if we think someone is making a mistake- particularly those we care about, and not be able to express our caution. Also, people who know others well might express their worry about their strategies because they may have seen them make mistakes in the past and lose their money- perhaps their family’s money too. What about those people who spent 50k on Henry Kaye’s seminars? It would worry me sick if I saw someone I care about spend all their money on the latest get rich quick scheme.

Not all criticism is bad. Sometimes we need it to get grounded again. You can take other’s opinions or dismiss them- but surely it depends on who is giving it, and their motivations for their opinion?

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

August 26, 2005 - 4:54 am

X,

I hardly think this is abuse:

http://www.jenman.com/NewsQuestions1.php?id=177

And it’s published on his website, so there would be no point in anyone suggesting it be “taken to the media”- it’s already there for anyone to see.

Unfortunately, Steve, your post saying posts that degenrate Neil Jenman will be removed have, predictably, led to people degenerating Neil Jenman.

As for me, I think the guy is a person of high integrity- he’s also witheringly funny- refreshing in an industry where people can take themselves so seriously.

Thanks for posting the link to his website, X. Whilst people may criticise him, most people I know read his site- it’s good to keep up with what scams are going on. Jenman’s site and ASIC’s site are always a good read.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

August 25, 2005 - 12:16 pm

Originally posted by grossrealisation:

Not one for hitting the girls as a couple of you ladies are reasonably smart investors.

here to help

HA! [lmao]

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

August 24, 2005 - 1:50 pm

Heya Gats [hair2] Funnily enough, I just read the following article, which says that 1 in 5 Aussies work 50 hours or more- to fund an increasinly consumer lifestly (and to pay for expensive mortgage costs, no doubt). Here’s the article below:

http://www.news.com.au/story/0,10117,16368427-29277,00.html

I was just talking to a friend of mine about this last night- how Sydney used to be much more laid back before the boom- my experience was of just hanging out in Newtown, and so many people of all types going to see movies, eat dinner at one of the many restaurants, window shop… and it really seems now- post-boom- that a lot of that relaxation has disappeared- what a shame when life becomes so much more serious- culture is lost, and money becomes primary.

I also read tonight (big reading night!) that John Brogden says he will axe 29,000 public service positions if he gets into power in NSW- no doubt if that happens, that is going to send sydneysiders, at least, into an absolute crisis- and there will go the housing market. Nothing like threatening people’s jobs and livelihood to scare the market- why would you buy real estate if you are going to lose your job?

Nice to see you, by the way, Gats

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

August 24, 2005 - 11:57 am

Jenny,

Things sound a bit tough, but not having a tenant is something we *always* risk when buying a vanilla residential property. Presumably, as others have said, just keep putting the rent down, and you’ll get a tenant- meanwhile, it’s wise to have reserves. Can you pay it off if you don’t get a tenant for a year?? It could happen.

A couple of things… I think Hervey Bay was a place to purchase at 2 years ago. You only bought your property recently- probably at the peak of the boom. Probably it is never a great idea to read about a place being a boom town and then buying into it- buy into it when noone is talking about it- not when everyone is talking about it.

Another thing… you talk about “cheap” properties now flooding the market. I would say that the market has more likely bottomed- rather than just a flood of crap properties onto the market. As someone else mentioned, oversupply is now an issue, and it will affect the value of your own property.

LifeX reckons you could wrap it… well, if other properties are so cheap, I think you’d be flat out offloading this property as a wrap.

You asked have others made mistakes- yes, absolutely- I made heaps. Thing is, I don;t expect my properties to make money *yet*, particularly if I have just bought them. Property is a long-term investment. I reckon try and sit with this place you bought and just try and pay it down- tenant or no tenant. I think it would be a mistake to flog it off now, particularly given that other properties are so cheap now in HB- try and hold it and be patient. [confused2] And pay EXTRA onto your mortgage if you can, in case it becomes overwhelming later.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

August 24, 2005 - 7:13 am

i doubt anyone ever pays anything for these tickets- so I think the “normally $895” is bogus, but anyhow, as I said, it’s free- one can’t complain.

X, as far as apologising on my behalf- hehe- please don’t.

I am happy to go along to anything at any time- unless I feel it’s obviously unethical (and I don’t think NLP is) but it doesn’t mean I think it will change my life. Basically, I think I have the inner tools to change my life if I want to- but funnily enough, I kind of feel ok about my life, so why would I want to change it so desperately?

vidi, please tell me this weekend is not one of those ra-ra dance on the spot gigs, a la, tony robbins… I feel *really* uncomfortable about the Hillsong-type raise your hands hoopla. Show me the ideas, but don’t make me dance for them like some poor dancing bear. [mickey]

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

August 22, 2005 - 10:37 pm

Simon,

So far as I can see, the upsell is to become an NLP practitioner/instructor etc. It’s a free weekend thing. I have tickets- dunno if I’ll go yet, but I quite like culty stuff Lots of people get hooked on NLP just as they get hooked on religion, etc. Anyone would be mad to go for the bigger upsell unless they intend to become one of those “life coaches”. Anyhoo- free stuff is fun stuff- I’ll probably go along

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

August 12, 2005 - 4:41 am

One person’s conman is another person’s guru. sometimes, people are outraged at ripoffs; and at other times, people are abused for pulling down tall poppies, being negative naysayers, being jealous of another’s “success”… hehe. It all depends on which side of the guru one stands.

Thanks for the heads up, Techno, One can also read up on this fellow on jenman.com.au

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

August 12, 2005 - 1:56 am

hehe celivia- hilarious reply

How do these companies “approach” people? How come I am not approached by wealth coaches as I walk along the streets? Is it because I look like this? [mad]or is it because when I see them coming, I do this? [curtain]

ahh well, at leat the company got some free advertising from this thread [gossip]

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

August 12, 2005 - 1:10 am

Can’t find jamie? Try these sites:

http://www.universalwealthcreation.com/
http://www.lifetimewealtheducators.com.au/
http://www.prosperitylink.com.au/
http://www.21stcenturyacademy.com/
http://www.21stCA.net
http://www.21stCenturyAcademyDVD.com
http://www.wealthymindset.com.au/
http://learntoberich.com.au/
http://www.renovateyourfuture.com
http://www.essential-wealth.com
http://www.AbundantWealth.com.au
http://moneymachineonline.net/
http://www.sawleyenterprises.com/

Did I miss any? *groan*

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

August 11, 2005 - 10:57 pm

X,

I think the thing to do would be to find out if anyone has ever done one. Gurus can market them and say how great they are, but in my reading, they are really not actualised. One can market anything, and people can even get tenants to buy into them, but how many actually come off, with the tenant actually buying the place?

Check out rick otton’s forum- you can read all about lease options- but as I said, theory is great, but who has ever done one and had it work?

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

August 11, 2005 - 10:26 pm

Perry said:

” ASIC is after Jamie becoz he wont play by the rules thats all.”

Perry, people HAVE to follow the rules- laid down by the Corporations Act, the Trade Practices Act, etc etc. If you’re dealing with money and “advising” others about it, then you have to.

Anyone who blindly follows gurus is pretty gullible. I have no doubt that Henry Kaye still has his sycophants too. Where is that dude anyhoo? [baaa]

Actually, Perry, it’s a bit of a sad indictment when one of Jamie’s “graduates” admits that the fellow doesn’t play by the rules. Really, surely potential investors in his program would rather hear Jamie is scrupulous and DOES play by the rules, rather than flouting them, right?

kay henry