Forum Replies Created
Hey ..I heard something like this at a Henry Kaye seminar once..
Henry used to teach ppl how to attract tenants by offering Plasma Screens to their IPs..
Then pple were asking. Where do I got the money to buy one to offer to my tenant. He used to say “You can take it out of the property”.
“But then what if my property hasnt gone up in value.” He then ignored the question” hhhahahahah
Well figures..
Vluu
Thanks for your replys.
George,
Please teach me oh master. Holy cow. Thats profiting 2 mill plus in one deal.
My hat off to you.
Sooshie,
Can you please elaborate on HKs property past.
You can email me on [email protected] if you think its not appropriate to post on the forum.
I’m very interested
vluu
Oh my God..NII. Where do I start!
Thomas whatever you do..SAVE your money. Dont be stupid and SPEND 15K on a property course when you can get the same info from books.
I also attended his course about 2 years ago. Got sucked into all of their hype.
One thing about NII is that they contradict their teachings. For example during Henrys course he keeps emphasising “Do your own Due Dilligence, its very important that you do.”
But then come a few days later after the course NII rings me up to come to a PCG meeting. There Henry is on stage and tells everyone. The market is so sharksih and ordinary investors are left with the crap properties. Let PCG do the ALL the market research for you and buy properties through PCG. You cant loose. The properties you buy through PCG literaly have doubled within 2-3 years. All it costs you is $3800 to get onto our waiting list. Once you are successful in being selected you need to pay an additional $6600 to buy a property of PCG. But its only $9800+ Deposit Bond Fees and Solicitors fees for a property that we guarantee will double within 2-3 years” hhahahahahahah
Do you see the contradiction. Do you get my point. Basically if you have an extra $25000 to throw away and see it go and burn up in smoke be my guess.
I learned alot from the NII. Basically why spend thousands of dollars when you can find the same info on online or through books.
I was looking for the magic ingredient in property as well. Turns out after attending and kissing my money good bye that there is no magic ingredient with property.
Sure there are certain aspects and criteria in choosing properties etc But really its all common sense.
Also the NII preaches about 100% no money down Finance. All it is is setting up deposit bonds and joint ventures with 2nd or 3rd parties. In order to get 100% finance, NII tells you you need to find someone with high desposable income. Let them take on the loan of the property and you setup a caveat on the contract (btw which will cost you several thousands dollars as well with your solicitor) stating that in case of selling the property you get 80% of the profit. Thats how you can settle multiple properties at once. NII preaches “Its Easy. U be a multi-millionaer in no time..just find a person with high disposable income and setup joint ventures..and u be right an..hahahah
That my friends is the crux of the course. Thats all there is too it. That is the magic ingredient of the NII which they charge you 15K for.
Basically what you can’t find in a decent book.
Hope this helps
vluu
Note: These are my views and not nessesarily the same as others I am just stating what i have experienced and thought of the time.
Diclem,
I bought in the Botanica Parks Estate. 4 bedroom. 5 Year old House. Double Electrical Garage. From comparable sales most 4 bedrooms in Botanica Park go for 400k+.
Secondly I am only buying IPs to invest.
Do you know how long it took me to lease it out?
After putting it on the market on realestate.com…2 days later we had a 12 month lease contract signed and delivered.So my point is its a boom area great for investing AND I dont understand why the CBA wont give me the IO loan on an investment Home Loan for such a high growth area.
Strange????????
Strange Indeed,
My loan is with the CBA. The postcode is an inner melbourne suburb 14ks from the city. Prices have skyrocketed in Bundoora. Good properties start at half a million now. A half decent one will cost u about 300ks +
So I dont think its because of the suburb or postcode. When I bought it I got it valuated higher than actually contract price.
I already signed up with the loan from the beginning. They rang me and told me BECAUSE I had LMI i need to get the loan below 80%.
HUH?
vluu
Does anyone have any creative ideas on how to get ‘real’ property prices in Vic.
I have been content with getting auction results. But that only covers 70-80% of the market.
Yes i have tried Residex but they seems to be only estimates and not real values..
Anyone have access to Prism or something? [
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][][]vluu
DAmn,
I missed it as well….
Thanks for all your input.
I’ll learned heaps from all your post
Teacherk6 ..wow thats exactly what i’m talking about.
Shame they still decline you.
Regards
vluu
Thanks MJK,
MMM not as simple as it sounds. But i’m really interested what strategies are out there or some people are implementing.
I also heard once all you have is a +ve geared property portfolio, this also helps.
Regards
vluu
Thanks for all your comments. Much appreciated. Learned Alot
vluu
Thanks Lucky Phil for your reply,
What kind of qualifications do I need to have?
Are you in Property Manangement yourself?
I’m thinking of starting out in a Real Estate Agency in Property Management there.
Any comments would be much appreciated
Vluu
Lawry,
Im in IT as well…Analyst Programmer….hate it with a passion
Wanna Change Career…
Wondering any property Managers out there..
Whats involved getting into the Real Estate Properety Management area.
Can someone tell me the Pros and ConsRegards
vluuCaz,
Yeah u are 100% correct. Got done by the vendor. Damn..Man what a learning experience that was.
Thanks for ur comments.
Hi All,
Damn. The vendor just rang me last night telling me he wants to settle now on Sept 1st.
After stuffing me around for a whole 2 months now he wants to settle and move out before settlement. Which gives me only 2 weeks to FIND a tenant.
Just wondering is there anyhting i should watch out for..Like he might spray paint the wall or somehting just to screw me over.
Please advice
Vluu
Dear all,
I just need your ideas.
I just saw the vendor. We both disagreed on all points. Nice person but he said worse comes to worse is that he’ll move out.
Ok. However he proposed to move the settlement to 12 months from now. That would mean that I dont have a debt for 12 months. And what if the price of the property would have risen, wouldnt I be better off.
The advantages I see is I can aim to buy a +ve property in the mean time. However I’m not sure if the bank wants to wait that long.
But what are the advantages and disadvantages for a situation like this (longer settlement). Has anyone ever gone through something like this.
Ur wisdom is much appreciated.
vluu
Someone please explain…now i’m more confused.
Hi all,
I bought Steves book yesteday..started reading it..funny he is a x-RMIT like me.
vluu
With a course costing 10k…
I dont think so…he must either be the messiah of wealth creation or have the ultimate secret.
But u know what. I have found that there are no secrets of the rich..
Anyway i cant comment on Brad Sugar but with 10k whats the diff. between Brad Sugars and Henry Kaye? (NII)
Regards
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