Forums / Community / Opinionated! / ABC’s Media Watch gives Steve a serve.

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  • Profile photo of martinwmartinw
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    Not sure if this got in under the radar on the forum site, but Mr. McKnight took a bit of a bagging on Media Watch 5/4/04, and judging by David Marr’s response, he was not convinced with Steve’s defence.

    Read the transcript: http://www.abc.net.au/mediawatch/transcripts/s1081543.htm

    Can Steve give a better explanation here than he did to the ABC?

    Profile photo of martinwmartinw
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    I just noticed that in fact there was mention about this in the Guru forum. However, since Steve did not comment on that occasion, and in the wake of a rather flakey response to the ABC, perhaps Steve might feel the need to comment further and help others understand why they too are not even close to being in control of one property since reading his book.

    Profile photo of DramDram
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    Looks like confusion reigns supreme. If I remember correctly, Steve stated the the particpants in the MAP would control $1 million worth of property and it seems that Today Tonight said he would make them Millionaires. Two completely different things.

    Either way, it would be interesting to learn the details of their progress.

    Profile photo of martinwmartinw
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    But that’s not the point Dram. The whole premise of Steve’s book is about his claims that using his approach they are able to build up portfolio of properties worth a million (or whatever). Even with Steve at the helm this project appears to have failed the test. The outcomes, based upon the information in Steve’s book, did not meet the expectations of those that bought it.

    It was aimed at mums and dads, who did not have the wherewithal to make it work. Steve’s book made one believe that it was as easy and was sold under that pretext, and even he could not make it work with those he claimed could achieve the same results he did. That’s what’s wrong.

    Profile photo of GramyreGramyre
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    Originally posted by martinw:

    But that’s not the point Dram. The whole premise of Steve’s book is about his claims that using his approach they are able to build up portfolio of properties worth a million (or whatever). Even with Steve at the helm this project appears to have failed the test. The outcomes, based upon the information in Steve’s book, did not meet the expectations of those that bought it.

    It was aimed at mums and dads, who did not have the wherewithal to make it work. Steve’s book made one believe that it was as easy and was sold under that pretext, and even he could not make it work with those he claimed could achieve the same results he did. That’s what’s wrong.

    I am not sure if you are here because you read the book and now feel that something may be wrong with the claims made on TT.

    I am here directly through accidently seeing the program while waiting for a segment on an acquaintence’s disabled child (yes TT will grab at anything for a good story). I did not get the impression then, nor after reading the book that it is “easy”. Nor that they would be millionaires. Nor that the whole thing had finished and there has been proof positive that people don’t control $1 million in property.

    I am sure though that those that are still serious about persuing the goal will be working to achieve them and will be the inspiration for the rest of us here that are also trying to head in that direction.

    If I learned one thing from the book (which I think the MAP has breached) and that was to set my OWN goal. It is all up to me to use the knowledge I gain from these forums and the book and make it work for my situation. Whatever they (the MAPers) gain from this opportunity will be a heck of a lot more than if they did nothing at all.

    Profile photo of AdministratorAdministrator
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    Unfortunately most, if not all, of us hear something and then ‘translate’ it in our terms in the process completely distorting what the speaker or writer actually said.

    I have been around real estate for many years and have had lots of experience in both residential and retail properties.

    It is clear to me that the people who are critical of the achievements of the people in his MAP program have misread what was being said.

    I would actually be most surprised if any of those people who are so critical and condemning have any idea or appreciation what is involved in acquiring property, arranging loans and dealing with tenants.

    It all takes time.

    With the experience I have gained over the thirty odd years of having been involved in real estate I would consider the first year of those MAP people more as being a time to learn rather than a time to make money.

    So if, on top of gaining some learning experience, they happen to achieve the apparent ‘general’ goal of controlling $ 1 M worth of property well and good.

    If not, it doesn’t mean at all that they have failed as everyone works at their own pace.

    To attach blame to Steve for what ultimately is each person’s personal goal is absurd.

    From what I understand from talking to someone who is in the MAP program, yes, it is true that Steve selected the MAP participants (though I don’t have any idea what criteria he used – perhaps he just put their names in a barrel who knows ?).

    I was also told that apart from providing the venue and apart from talking a lot during the very first meeting neither Steve nor his partner at any subsequent monthly meeting speaks for more than ten minutes and the balance of the meeting consists of everyone sharing their experiences and ideas with each other during that day.

    I also note that the meetings are held in Melbourne and some people travel from interstate to attend !!

    However, Steve as such has no control over the ultimate performance as the individual’s personality, motivation, smartness and ability and preparedness to work hard are all inputs which haven’t got anything to do with Steve as such.

    I have no idea how they, as a group, have performed. I only know what was shown on the TV program recently.

    That showed (I think) that one party of two (husband + wife team ?) had over the previous six months already acquired $ 1 M worth of properties.

    Another one had bought a property with about 24 rooms in a town of about 30,000 people for $ 340K (I think), found a tenant and stands to clear, after making P&I payments, some $ 600 per week.

    Not a bad effort, is it now ?

    The others in the program, I have no idea but, anyway, they aren’t competing with the other people so much as competing with themselves, to do the best job they can.

    Yes, some have dropped out (for whatever reason). No shame on them either.

    The results sofar are excellent the way I see it. So what is there to bitch about ?

    BTW, at last night’s meeting at Five Dock (NSW) one new member showed up sharing with us that less than two years ago he bought a unit in London for 140K Pound Sterling with payments (including management fees and maintenance) coming to 700 Pound Sterling a month.

    He bought that unit without any prior experience, was brave (read ‘foolhardy’) enough to buy it with no deposit (with the assistance of a personal loan) and, more than anything else, was a bit creative in making some changes to the unit.

    The rental income is about 1,600 Pound Sterling thus giving a surplus of 900 Pound Sterling a month.

    Not bad for an investment of about A $ 280,000 which was bought with a bank loan and a personal loan for the deposit and NO cash input.

    Just one $ 280,000 property and about enough surplus to live on. Oh, he is only 22 years old !!

    Pisces

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    Martin,

    Sorry to say this, but I think you better read the book again….

    Nowhere is there any reference to this being EASY…..

    People believe what they want to hear….. why do you think it’s so easy for so many gurus to sucker the greedy/hopeful/ignorant into paying thousands of $$$ for a get rich quick scheme….

    It’s because as a whole people have become lazy, expecting everything to be handed to them on a plate……

    Many of us here, have worked damn hard, and are controlling millions of dollars worth of property. BUT you don’t hear us shouting “I’m a millionaire”

    It’s not necessarily about the money…. Do you know what my goal out of all this is ? This is gonna make you laugh…… It’s not the $$$, but the ability to be around all the time with my 4 kids, taking them to school, going for holidays…. and being able to run a business at times that suit me….

    QUALITY, not quantity…. If you are Rich and you die, you’re dead….. you can’t take it with you……

    Profile photo of AdministratorAdministrator
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    Scott (Pelican) said : ‘Nowhere is there any reference to this being EASY…..’

    But Scott, when one buys the book doesn’t it come with a magic pill ?

    You know, the one which one swallows and everything will just fall into place and into your lap.

    Pisces

    Profile photo of pelicanpelican
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    Pisces,

    I think I must have lost my magic pill…. [lmao]

    Cheers

    Scott

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    Scott, perhaps Steve only inserts a magic pill into every twelfth or so book ?

    How many did you buy Scott ?

    Steve, do you sell the pills seperately ?

    Pisces

    Profile photo of pelicanpelican
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    Pisces,

    I only bought one book….. Maybe I better send it back to the bookshop and ask them where my magic pill is ??

    Scott

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    >>I only bought one book….. <<

    Well that explains it all. just goes to show you one cannot, shouldn’t, do things on the cheap. [evo]

    Pisces

    Profile photo of TinkerbellTinkerbell
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    I am only 20 and have quite an interest in property investing. I got my first at 18 but i worked so hard to get the deposit that i thought it would take many years before i could afford to save for another deposit again. It was then that i started to read everything that i could find on property investment and am slowly starting to understand how i may make this work. Though banks are usually a little reluctant to lend to a full time uni student working casually in a bar. Then one day my boyfriend bought home Steve’s book. NO: Definately not easy!!! I consider myself a smart enough person, but i read it 3 times before i felt i had any idea what he was talking about. It inspires me to try harder, think diferently and suggests a few helping hints on the way. For those who think that it should be easy and someone should tell you exactly how it’s done are daft! Then everyone would do and then who do we get to rent out our properties!!? :) As my mum always says… you can’t have everything handed to you on a silver platter.
    Tink [blush2]

    Profile photo of pelicanpelican
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    Tink, Well put….. no such thing in life as a free lunch…

    Keep at it…. I applaud you for starting so early !!!

    Cheers

    Scott

    Profile photo of RugbyfanRugbyfan
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    Originally posted by Pisces:

    >>I only bought one book….. <<

    Well that explains it all. just goes to show you one cannot, shouldn’t, do things on the cheap. [evo]

    Pisces

    Well I only bought one book and it came with the ‘get rich’ pill. I found it pretty hard to swallow though!

    ‘Eat rich food, barbeque a yuppie’ [greedy]

    Profile photo of JetDollarsJetDollars
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    I bought the pill, but not the book. Why waste your time reading the book if you can just swallow the pill and get rich.

    Kind regards

    Chan Dollars
    [Retire Young, Retire Rich] [strum]

    Profile photo of redwingredwing
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    No Pill in mine.. i looked twice !![angry2]

    Off to Dymocks 2mw to ‘sort’ through the books..I’ll get one of those little suckers yet !!!

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”

    Profile photo of ADAD
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    Those pills are rare.

    Enjoy
    AD [:0)]
    (Andrew)

    It is good to have an end to journey toward, but it is the journey that matters in the end.

    Profile photo of Rebecca1Rebecca1
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    Golly, look at this. A gal goes away for a few days and misses all the fun in here.

    Just read the transcript and saw the clips. Oh dear, how embarrassing. Poor Steve. Just forgot that a millionaire is supposed to mean a million dollars. But, hey, never mind, that David man sounds jealous, that’s all.

    Bec xxx

    P.S. I did have some fun myself. Next time you’re in Paris try the Hotel Voltaire on the Que de Voltaire. Oscar Wilde stayed there. And so did Bec – and, for moi, it was wild without the E. Or maybe with an O.

    Oh-oh, that’s enough, don’t wanna get censored. Just feelin’ great, that’s all.

    Profile photo of Steve McKnightSteve McKnight
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    Hi,

    Since everything that I say on this topic seems to be misquoted and taken out of context, the only comments I have to make are:

    1. 4 people in the MAP have acquired more than $1m in r/e in well under a year. This was mentioned to MediaWatch, but they decided not to use it because it blows their argument out of the water. Others in the MAP, with less real estate, have nevertheless substantial profits.

    2. The three people selected by TT as part of their ‘Millionaire Challenge’ (their title, not mine) are entitled to the following:
    A. Online mentoring for a year
    B. A ticket to one of my seminars
    C. A selection of products that I have written

    They are in fact NOT part of the MAP!

    3. Due to personal circumstance, the TT online mentoring began in late Jan 03, and given Media Watch rang up at the start of March – that’s why not much had happened to date on that front.

    4. Media Watch told half truths and then pick and chose their way through the answers to mount an argument that was high on hype and low on substance. But why let the truth get in the way of a good story? Hypocrites!

    5. I’m now writing my second book that takes the story of the MAP and presents it in its full, warts and all, glory. It is due for release later this year.

    Bye,

    Steve McKnight

    P.S. No pills for you!

    **********
    Remember that success comes from doing things differently.
    **********

    Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
    https://www.propertyinvesting.com

    Success comes from doing things differently

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