has anyone bought hans jakobis program, about $3000 dollars worth of video tapes and books? if so, how good is it?
cheers alfieWow,
Hans has come a long way in a few years… I met him a while ago when he had a $30 book.
He’s a nice guy, but I don’t know how much experience he’s had buying property… so I’d want to have that question answered before I forked out $3,000 big ones.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Wow. Interesting comment Steve. The way Hans tells it he’s been investing for years and years. Although I saw on the back of one of his books that he attended a Kiyosaki seminar in the early 90’s (I think) which got him ‘on the road’ so to speak.
I got an introductory pack from him and he seems to advocate the same sort of rental returns as you do.
His $3K pack is about 10 or more volumes I think, plus videos etc. It all sounded good……… but then they all do with their promises.
He also offers (if you get in quickly – apparently there are still places available though – and I first saw it before Christmas) a ‘free’ personal consultation with him worth $500.
Cheers
MelHi Melbear,
Cough, splutter…
I never got the impression that Hans owned a whole stack of property, but I may be wrong.
The question I’d be asking is: How much of it is first hand experience and how much of it is theory learned from others?
$500 bucks for a coffee sounds a bit steep.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
I recall someone on this forum Questioning Steve’s $1200 seminar[
]It’s cheaper than Hans and WAY cheaper than HK’s [8]
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Speaking of HK (which we weren’t really). The creditors voted to liquidate!! Outvoted by 3 votes.
The administrator thinks that the creditors are a bunch of idiots. I agree. They think they are ‘teaching Henry a lesson’ by liquidating, but in doing so they don’t get any money back at all.
Cheers
MelAlfi,
Please see other forum posting on HANS…
I got an email from him, detailing his updated course materials…..
Cheers
Scott
Pelican Investments
http://www.pelican-invest.comQuote:The administrator thinks that the creditors are a bunch of idiots. I agree. They think they are ‘teaching Henry a lesson’ by liquidating, but in doing so they don’t get any money back at all.Quote:How much dealings have you had with Henry Kaye Mel? If none, then why do you think you should post such a defamitory post about the victims of Henry Kaye?
I lost $15000 to this Scammer and all I want more than anything is to see him go down so he doesn’t do the same to other people that he did to me.If you have had dealing with the man then you would most probably have read the report from the Administrator, Grant Thronton? In the report it does say that if voted for Deed of Company Arrangement (DOCA) then we could get 20 – 40 cents in the dollar back and maybe more with Kayes “Personal Guarantee” (Sorry I have heard those words before). I weighed up the pros and cons and decided to Liquidate and send him down. ASIC agreed that the company should be liquidated, and both options have an equal chance of getting bugger all back anyway!
I think you should think more carefully before you post things like that Mel, there could just be someone who was stung by Kaye reading these forums!!
Jack
Jack, obviously you have not read my other posts. I attended Investment Mastery for $15K, I attended Mezzanine Finance for $12K (both with partner), and I was ‘currently’ enrolled as a Gold Affiliate at a cost of $55K. I am still paying for the last two mentioned courses, and didn’t get about $15K of ‘promised’ value, solicitor consultations out of the Affiliate Plus Program.
I have, however, from Henry’s teachings, increased my (and my partners) net equity by approx $800K in the last 2 years.
I reckon I could safely say that I have had more dealings with Henry than you have Jack.
Cheers
Mel[^]Mel
Good to see after being ‘kicked’ by HK you’re still on the horse [^]
So after all that investment..what did you learn ??
Realising that even for his bad points there must have been some worthwhile strategies or lessons learnt [
]
Hopefully others ‘burnt’ by the HK affair have also moved on to bigger and better things and my best wishes to all of them.. sometimes it’s good living in ‘the west’ where no one visitsREDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Hey Redwing
I’m still learning stuff from HK, as I’ve got all my notes, and a set of DVDs of all the seminars he has run – about 8 sets all up I think.
Basically, I guess you could say the main thing we learned was that we shouldn’t listen to a bank manager who will maybe tell us that we could probably, if we were lucky, scrape through and buy another property sometime in the next 2 years.
We learnt how to structure our finances, how to do our research on properties, and how to sell each ‘deal’ to our bank manager, so that it was ‘deal’ based finance rather than completely on our ‘borrowing power’ as defined by their computer.
It also gave me more confidence in buying off the plan (we did it quite successfully even with a couple of major hiccups), and in actually buying more than one property at a time. We bought 7 in one hit, and 3 in another. Funnily enough, the 3 have outperformed the 7 by about 100%!!
I’ve also teamed up with a group of people who are looking at deals that return a minimum of 20% per annum on our cash, and the latest deal we have been offered works out to be a 70% return in 18 months, interest and profit share. There’s no way I would have even known that these deals existed, much less how to get in on them without doing Henry’s courses.
We also learnt how to secure long term tenants, at higher than market rates, and how to improve current rentals – esp in comparison to almost identical apartments.
Quite a few other things, but this post is long enough.
Cheers
MelAs i’ve said before you can learn something from anyone, Skepticism is good cynicism is not..
I’m glad you still walked out of the deal looking at the positive aspects Melbear..i feel sorry for all those that lost $’s
From what i recall you seem to have a wealth of knowledge regarding most ‘guru’s’ and a great capacity to acquire knowledge
Wish you all the best in your projects [^]
REDWING[
]“Money is a currency, like electricity and it requires momentum to make it Effective”
Thanks Redwing. I guess I love learning, and so take a lot more in than some people who want ‘instant’ results/riches from the seminars etc.
I’m down probably $10K from the courses, but as I said, I’ve made 80 times that by implementing my ‘learning’ so I can’t complain too much. I also could never see the benefit in buying the ‘discounted’ properties, considering we’d just been taught how to do it ourselves…..
Cheers
MelWell, it looks like in mel and jaktar are in the opposing corners of the HK camp.
Interestingly, his sister (AKA bridgecorp) was basically running HKs system after asic went after HK. What was even more interesting was that it was his sister that voted to liquidate! Imagine what sort of dealings that you would have to be put through in order to vote to liquidate your own flesh and blood.
Glad to hear you made a quid mel, but got a couple of q’s for you
Firstly, how can visa (or amex/whatever), still take your payment. I would personally fax and email, cancel the cards, etc, to set the paper trail in motion, then complain to the banking ombudman or whoever.
Secondly, how did you make such $$$ in minimal years? My understanding (which is, admittedly, very limited to newspapers and the bulletin) is that HKs scheme was to buy multiple props off the plan using deposit bonds. This is the limit to my knowledge of his system (excepting, of course, the other parts I want no part of!)
Thirdly, and most importantly, could you explain “how to structure our finances”, and “how to sell each deal to the bank manager”? Were these the regular big four? Or something a bit more colourful?
Hopefully, you will get some cash back, but unfortunately, in these things, there is a certain order that things get paid.
i)taxman
ii)liquidators
iii)secured creditors
iv)everybody else
Realistically, I dont think that whether the vote was for termination or continuation, the chances of recovering money AND having it handed back to course owners would have to be minimalAnd jacktar, I can understand your hatred of the man and the scheme that you feel ripped you off, but it is always wise to “play the ball and not the woman”, especially our heavy posters who have large knowledge
Wrappack, the people taking my money still are EZYPAY. They sent me a letter in December saying ‘Hey, you better update your VISA expiry date, or tell us new details, cos our records show your card expired 05/03’. They’ve still happily charged my card all those months though. It wasn’t until reading the administrators report that I thought I could even cancel the direct debit, so I immediately sent a fax to these guys telling them they’d best not debit it anymore, as NII was bust, and my calculations showed I was owed about what I owed (in entitlements etc.). I also said that my card had been cancelled.
Well, good old Citibank, they have cancelled my card, but they’re still letting direct debits go through!! [
] I’ve quickly contacted them to show how I told these guys to bug off, so I’m waiting to see what will happen. I do not intend paying the money though. I do not expect to get any money back through the administrator at all, and have not even asked.Secondly, yes, we did buy several properties off the plan, but we used cash deposits rather than deposit bonds. Some of this cash we borrowed off friends and family (and paid them a 50% return on their cash). We did also exchange on 5% or less. HK also teaches how to maximise the value of your current properties – sometimes by renovation, how to maximise the rentals etc., so I guess you could say we have made the money ‘on paper’ only. He also teaches how to get the best valuation – which is what a lot of the guys on this site have also been saying. Do your own research, provide it to the valuer, and 8 times out of 10 they will accept what you have provided – in the right format etc. of course.
Structuring our finances basically means how we are set up (with loans etc.) and how it’s maximised. How you present you portfolio to the bank certainly can take a lot of the computer out of the equation. ie. To present a new property you are wanting to get a loan for, you present the proposal with a picture, a description, put in the amenities etc. etc. You put in comparable sales, comparable rentals, population of place (if not city), employment, rental vacancy rate. Then you put in your financials – perhaps with a PIA 40 year projection etc. BAsically a big folder with sooo much info that you will really come across as having done your homework. You also need to get to a person in the bank who can make decisions – not just a lackey who uses the computer.
The proposal is for any bank – but again, you need the decision maker.[
]Cheers
Melhey melbear,
i know a person well who attended hk’s seminars early in the piece and he also did very well, and i have a copy of the cd’s/dvd’s also so i have access to the same materials and strategies. i also feel empathy for those that lost out in this situation at the same time however.
just on the deposit bonds which i believe he “made famous” in melbourne to some degree, one question i have and after reading steve’s book, are option contracts similar to flips, and/or are they the same thing? from studying some of hk’s materials i believe that this deposit bond/option contract teaching was a major pulling point for people attending his seminars because they could buy multiple properties with little or no money down, another expression that seems to have become very favourable with investors of late.
after finishing steve’s book this question just seemed to stick in my head and was wondering if you or anyone else could clarify it for me.
kind regards, clay.
[]Clay, Are Option contracts similar to flips?
Short answer – No.
Decent answer.Flips are a strategy of buying and selling prior to you having to settle. This can be done with a standard contract, or an Option contract.
An Option contract is a device that may help you avoid double stamp duty if you intend to onsell. The other reason that I like Options (especially for Off the Plan Purchases) is that you can delay when stamp duty is payable if you intend to keep the property. Stamp duty is due within a year of exchange if an OTP purchase. If the settlement is not due for 2-4 years, then an Option means that you haven’t actually ‘exchanged’, and so can delay doing so until near to completion, at which point you can pay stamp duty on settlement. Saves you forking out those $$$ early in the piece, when you could probably do other things with it.
The thing that I found though, when I went out to use a deposit bond, was that it’s not that easy!! You still have to either qualify for the loan and/or have to have 5 times the required deposit in equity already. Also, once you start getting more than 2 or 3 bonds, the companies are loathe to give you any more, even if you do have the equity. I think this is a good thing, and was probably in response a bit to so many people ‘learning’ this technique and applying for many bonds.
Cheers
Mel
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