MiniMogulParticipant@minimogulJoin Date: 2002Post Count: 1,414SlumLordMember@slumlordJoin Date: 2003Post Count: 51
That article is a riot; the guy is just making stuff up. I wonder how may people actually believe this?
He speaks of the Steves Wrap deals: bet he has never seen one of stsves contracts.
He says Steve only does wraps: we all know this is not true.
He talks about buying property in Sydney worth 500k each!: How many of these do you think Steve has?
It’s a completely fabricated argument.
What a wanker.
Slum LordANUBISParticipant@anubisJoin Date: 2003Post Count: 559
I think that the old adage that there are three sides to every story – your side, my side, and what really happened – applies here.
Most people at this forum are pro-wrap as an investment strategy and fair enough too. Terry Ryder is anti-wrap, as is his right. In the middle you have some people who would love a chance to own property, even if they pay much more for the privilege, and others who don’t wish to pay more than market rates.
I can see all three sides but certainly didn’t find any fabrication in the article. It certainly wasn’t balanced, but then neither are a lot of the posts on this site. This is how he makes his money – we have jobs and property to make ours.Kirby319Member@kirby319Join Date: 2003Post Count: 120
“The claim that he will make people “property millionaires” is also misleading. By this he means they will – if all goes according to plan – own property worth $1 million. But this will not make them millionaires – and it will hardly allow them to retire independently wealthy.”
I do sort of agree with this statement though. I think that the term “property millionaire” is a little sensationalistic.Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,749
This article was brought to my attention last night. I immediately called Terry to offer him the professional courtesy of getting the facts right before making claims that might be wrong (something he did not offer me).
We had a long chat and I left it that he was going to conduct further research before either standing by his claims or else issuing a retraction.
As I have not yet heard back from Terry, I am going to give him the benefit of forming a response before passing further comment.
All I can say is that, knowing what I know, Terry’s article has many factual inaccuracies and is based more on opinion than on evidence. He has added up one and one and decided that it must equal five.
Remember that success comes from doing things differently.
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
Success comes from doing things differently
Geurilla journalism!!!! very distastful!!!
No better than petty rumourmongering[!]
whats disappointing is that his previous comments have been quite insightful. this smacked of the kind of trash, sensationalistic journalism that ironically we usually see from the likes off aca and today tonight.Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,749
Here is my response to Terry Ryder’s articles which I have submitted to Neil Jenman (at his invitation) for publication on his site:
Thanks for the opportunity to comment on Terry Ryder’s articles as published on your website.
I thank Terry for his comments, as I feel his heart is trying to protect those that might be disadvantaged by (1) the wrap investment technique and (2) involvement with the Today Tonight offer.
I began investing in May 1999, and since then have achieved great success using various real estate techniques. To a large extent, I have tried to share my knowledge and experience with others in the form of a free newsletter, running seminars, hosting a website, and, more recently, writing a book.
In no way do I profess to have all the answers, nor do I claim to have any supernatural ability. Yet, in some way I do feel empowered to share my experience and to try and help other people free themselves from the need to work.
Terry makes many claims in his articles, and knowing what I know, some of them are simply inaccurate while others are nothing short of defamatory. It’s not my intention to list these issues, individually refute them, or in any way retaliate by questioning Terry’s integrity in the manner that he has questioned mine.
Ultimately the facts, which speak for themselves, need to be separated from the opinions, which can be clouded by bias.
To this extent I draw your attention to just one paragraph from Terry’s second article:
“He (McKnight) has challenged me with this question: Do I know anybody who has been ripped off by him? The answer is: No, I don’t.”
There is a way to honourably make money using real estate and it involves creating win-win deals. Wraps can be done in a way where all parties stand to gain and I have much personal experience in constructing deals which result in this outcome.
However, sadly, not all investors adopt a win-win philosophy and instead prey on the truly disadvantaged and / or break the law. These people need to be fully and completely exposed and brought to account, which is why it is both good and encouraging that the various State authorities are investigating those who offer vendor’s finance. Only in this way can those with integrity be distinguished from those who are in it for a quick buck.
Surely it is a gross generalisation and horribly ignorant to conclude that all investors who profit from wraps are immoral and terrible citizens.
I constantly challenge myself with always adopting a position of high moral integrity. I hope in my heart of hearts that my motives are not based on greed. I believe I can have a profound and positive impact on people’s lives, which is why I continue to look for opportunities to help.
I urge you to let the facts speak, and for me to be judged by my accomplishments and not by one journalist’s opinion.
Remember that success comes from doing things differently.
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
Success comes from doing things differentlyMelanieMember@melanieJoin Date: 2003Post Count: 382
Nicely handled Steve, well done.
Hmm, disappointing when this sort of hype article goes too far isn’t it. Personally I find it borderline defamatory too, as I do much of Jenman’s material.
Shame, but keep shining!
MelnavymtMember@navymtJoin Date: 2003Post Count: 14
steve tehre are more people who are saying good things about you then there are saying bad. i work in the navy and in the past week you have been a hot topic of conversation after TT. I have infact directed many of those people to view your site and see what it is all about. now they are aking me how they can do it too. well as i havnt done my first wrap yet i can only tell them what it is that i have learnt from your book and this forum. the rest they need to find here, which i dont hink there should be any problem seeing as though it is such a user friendly site and full of usefull info. cant wait to hear you speak and hope to learn heaps from you. thank you for the nudge in the right direction of life your book provided us.
i wanna be freeeeeeee
Agree with Melanie, very nicely handled.
Well done Steve.
WaynefulloutMember@fulloutJoin Date: 2003Post Count: 233
I read an article on him on the AGE newspaper few weeks back in Melbourne.
He seems to be claiming that all property investing seminar coaches or authors that encourage people to invest in property are cons. Thats a VERY VERY BIG GENERALISATION, Terry. He doesnt get the facts and simply shoots remarks here and there, just because he has written some books about how shocking real estate agents or property deals can be.
He put good teachers like Brad Sugars, and Richmastery in the same category as the guy who taught people to do ‘flipping’, oh yeah, Henry Kaye his name.
Brad and Richmastery are very conservative in their approach, and they teach people to do their homework, and dont do deals where it has possibilities of backfiring.
Terry get a life!George2Member@george2Join Date: 2003Post Count: 13
Yeah Yeah Yeah I have heard it all before and as far as any story goes Bad news sells, it doesnt matter if it is true or not just that it sells. Just look at the news and you will see misery loves company. yet there are people who want to help and create win win situations. Positive is always better than negative. I have just changed my job from PI (Private Investigator) to PI (Property Investor) In my old job i was told that they would kill me, burn my house down and murder my family. dont worry about what one person says steve this is nothing. I think he makes money on selling loose loose storiesMiniMogulParticipant@minimogulJoin Date: 2002Post Count: 1,414
brilliant reply Steve.
I was actually so mad at that little twerp for saying what he did that I stayed up until 3am last night writing this mad rebuttal which i was gonna email him as well as post here. now I don’t need to because you’ve done it so eloquently not to mention elegantly and with the higest possible ‘vibration’.
So I am glad i saved it as a draft and didn’;t send it in the heat of the moment cause now I’m just gonna delete it.
but i also agree with the fact that if you have people saying you’re dodgy it’s far harder to redress the damage, which is a severe bummer.
I can see why steve is upset at the comments as some of the statements made are patently untrue, others I can sympathise with. I personally would not get involved with wrapping as I feel that you are taking advantage of other people, others may not feel this way and I have no problem with them conducting business in this way its just not for me.
I think it is fair to say that Steve is attempting to make a buck out of selling himself as a property expert, listen to what I have got to say, buy my books, attend my seminars and you will prosper. The property millionaire thing is a bit sensationalist and probably dosn’t endear him to people such as Terry Ryder who consider themselves to be the traditional purvayors of sensible and credible information on property.
One question always springs to mind when people who purport to be experts in a field and claim to be able to make such riches from their knowledge, why waste time flogging books and seminars and all the other products when their is so much money to be made in property deals.
Could it be that the income from these activities is greater than that of what allowed the person to gain fame in the first place ?
Also questionable is whether a system that was succesful in one set of market conditions is successful in another, ie are you following the last big thing instead of the next big thing ?
I like the majority of you do not know steve, for all i know he may be the most generous selfless man that has ever walked the earth, he could also be someone who is going to milk this ride till the death to gain what he can.
As always the truth probably lies somewhere in the middle.
benson – you make some good points.
maybe steve doesnt know 100 pct his motivation either. ive never met anyone who does (if they are truely honest)
one thing leads to another and if you can make a buck from it you do.
these things ten to take on proportions of their own. hopefully steve is well too aware he is fallable despite being surrounded by true believers…..
christian beliefs can be good at keeping you grounded – as long as they are not used to promote legitimacy in the eyes of the consumer. that can be cynical at its worst.
if it was me i would welcome the critisism as it provides the necessary check and balances that we all need. (accounting metaphore)
I personally would not get involved with wrapping as I feel that you are taking advantage of other people,
As one considering doing this type of business I must confess to being somewhat perturbed by this argument. Undoubtably some unscrupulous wrappers are indeed doing nasty things to the less fortunate.
But lets not throw out the baby with the bath water,eh!
A few quick parallel arguments:
A doctor makes money fixing people when they get sick
A panel beater makes money fixing peoples smashed up cars
A mechanic fixes your motor when you’ve put a piston through the block dragging your mate off at the lights.
I could go on ad nauseum but you get my point.
All of these professions make money from people in unfortunate circumstances….in some cases great wads of money (brain surgeons etc)
After thinking about this somewhat I am now rather amused when this “taking advantage of others” argument is presented.
Surely an ethically constucted and executed wrap contract can only be a positive thing, as it is fulfilling an important need in society – home ownership for “credit rating challenged” individuals.
A financial doctor, if you will.
Lets just make sure we do it right
wayne – excellent points
thats why the article was unfair. it was judgemental and subjective.
Through reading many of the excellents posts by the Mortgage Brokers on this site, I am under the impression that credit through traditional means is available to a vast majority of people who may not realise this. The point being that they could achieve their dream by purchasing the same property at a cheaper price and a lower interest rate than in a wrap. Would you advise your potential wrapee’s to let one of the mortgage brokers on this site explore this possibility before you went into a deal with them ? Or would the dash for cash cloud your thinking.
There may be genuine cases where wrapping benefits both parties I agree, it is just not an area I would like to get into.
The topic ‘Terry Ryder off Steves Xmas card list’ is closed to new replies.