Yeah you stick it to ’em Steve!
I saw the startings of the MAP from England via the net and have kept an ear out for it since.
It is a shame people can twist what others say so it either makes them look good or feel good. Just the fact that you started out this free site for others to benefit from shows you are definitely NOT a money grabbing freak. (No offence intended…)
And to top it off, when I ordered your book through the website from England, you even wrote me a little message in the cover of my book and signed it. I mean, how was that to grab your reader….
Keep up your good work Steve. There are too many people that support you to even contemplate the useless things others may say!
Steph Cremin.
Success is 1% inspiration and 99% perspiration.
Hi,
As one of the “misguided”[grad] ??? MAP participants…
All I can add is that everyone on the MAP program has totally grown up as investors, and we look at making money from property from many different perspectives now. Not all have achieved the $1mil magic figure, but that doesn’t matter. The “JOURNEY” of the MAP is the GREAT thing…We are all learning so much about ourselves, and our values, goals and insecurities.
We are all at different levels, and all have different day to day, family and work challenges to deal with.
YES, some people on the program HAVE ALREADY achieved the “so called” target, and others will do it before the year is up, others will go further than they would have otherwise, but I for one don’t find that $1mil figure important.
For those who insist on being negative, go somewhere else, otherwise get your facts straight! You know who you are!
Steve & Dave, we sincerely thank you for the learning experience….
Regards,
Del [grad]
del said:
“For those who insist on being negative, go somewhere else, otherwise get your facts straight! You know who you are!”
I am not gonna take that personally, because mine were straight. But I’m sure you didn;t direct it at me, del :o))
Del- who cares if you made a million bucks or not? I think it’s better if you have 500k worth of “controlled” property with 300k equity, than it is to have $1 million control of property with only $150 equity.
Control over debt is a good thing too! Best of luck with it, del.
kay henry
You’re right Kay,
It was not meant at you.. I actually missed reading yours – sorry..
I agree with your comments about controlled debt.
One thing the Map has taught us, is to always have an exit strategy when you are BUYING a property, and to continually try to keep your investments working hard for you. Don’t go for the buy and forget theory.
Cheers,
Del
Del- cheers to you too!
I made some postings on this subject in the General Property forum- you might wanna read them and then I can just take myself out to the desert
Well, you know me Del- I do like to ask questions when things don’t make sense to me. I also like to be reasoned about it )del- re your exit strategy, I don’t really know what that might mean. Does it mean that when you buy, if you want to exit it, then flip it? Or does it mean keep an eye on rental yields etc? I am a set and forgetter- but a place, get a 1-year contract for rent, and then not worry about it for a year. It would do my head in to have to worry/think about individual properties constantly.
Aren’t properties supposed to be a passive investment? Theyt work for US, not us working for THEM. Just wondering what is the theory behind being such an active investor as opposed to a passive one.
kay henry
Hi Kay,
Exit strategy – buy a place with a set goal of how long to hold it…
I will give an example – don’t stone me…[blush2]
I buy a house for $80K – just say it rents for $160pw – Not too bad return…
I might hold it until the value reaches $100K, then I sell it, and with the $20K profit and my initial funds in the deal, use that to buy 2 cheaper houses, then start all over again.To us, there is now no such thing as passive in real estate.
Hope that makes some sort of sense.
Del
>>Aren’t properties supposed to be a passive investment? <<
Ha,ha,ha, Kay.
Passive only for those fortunate souls who happened to have struck the magic pill (which we were talking about elsewhere) in their book. [whistle]
Pisces
Del, Kay, anyone,
Over the years I have run into several downs as well as ups.
I am now more and more convinced that, the moment one is able to, one ought to starrt thinking of how to play defense, defense, defense.
Whether that should include having spare funds (or access to them) or progressing a bit slower and getting a bit more equity in the properties one holds, it doesn’t matter.
Don’t think for a moment that it isn’t necessary to prepare for situations which may cause financial problems. it is (necessary).
Regards,
Pisces
Originally posted by wilandel:Hi Kay,
Exit strategy – buy a place with a set goal of how long to hold it…
I will give an example – don’t stone me…[blush2]
I buy a house for $80K – just say it rents for $160pw – Not too bad return…
I might hold it until the value reaches $100K, then I sell it, and with the $20K profit and my initial funds in the deal, use that to buy 2 cheaper houses, then start all over again.To us, there is now no such thing as passive in real estate.
Hope that makes some sort of sense.
Del
Del
I might be reaching for a boulder here [biggrin]so tell me if that is the case.
I know it was an example of yours but I would be interested in your opinion if you think that would be a worthwhile deal?
If you bought at $80K and sold at $100K, wouldn’t the stamp duty on entry, loan fees etc mean that you paid closer to $84,000 and when you sold for $100K, have to take out agents fees and CG tax.
I figure you wouldn’t be left with $20K more like $7K or $8K.
Do you go through all the pain for a $7K or $8K return? I am not saying you necesarily do that but am just interested in your thoughts.[biggrin]
‘Eat rich food, barbeque a yuppie’ [greedy]
Del- thanks for the info
I too believe that buy and hold is only for when it’s working. I sold an underperforming IP. It was never gonna perform, so why not use that CG and buy more IP’s and live a little?A plan is always a good thing. I never have one, of course, because I’m too disorganised. If I had a plan, it would be to do filingin my office! But it;s too stressful to plan, so I just plan to plan, if ya know what I mean [upsidedown]
kay henry
Hi all (again),[whistle]
Rugbyfan,
I knew my example would get someone’s scrutiny..
Anyway, I guess my answer to the “hypothetical example” would be –
I’d only sell in that example if the next deal was going to be bigger and better.
I feel like a politician!!
I did recently sell one IP that we had under a year which we paid $80k, rented at $165pw, and 5 mths later sold it for $120K, less $3K agents fees.
We used the money for 8 smaller deals, which are doing much better!
Nite all,
Del
Interesting Question Rugbyfan but my question is if you could make $7K or 8K for a weeks work wouldn’t it be worth it. Not saying this is the only way to do it but why not make a little cash. It depends on your cicumstances but $7K in your pocket is $7K more than last week. IF you reinvest that money and it keeps wokring for you it could be a good thing. Inmy mind Velocity of money is the key. I don’t hold anything that doesn’t achieve at least 20% returns in a year.
By the way you guys should listen to Wilandel as they are doing the dream and doing it well. I have a lot of respect for them. Well done guys.
Enjoy
AD [:0)]
(Andrew)It is good to have an end to journey toward, but it is the journey that matters in the end.
Thanks Andrew.
Hey, $7 grand is $7 grand for me too. Don’t get me wrong, I would love that for a weeks work.
I thought it may have been a few months work but I guess a 1 week exit strategy is still an exit strategy isn’t it?[biggrin][biggrin]
And anyway it was an example so it could have even been a flip!
‘Eat rich food, barbeque a yuppie’ [greedy]
To Steve McKnight
Your arguments in defence of this Millionaire rubbish only make you look ridiculous.
You are wriggling like a worm on a hook, twisting and turning every which way. Definitions, contexts, hypocrisy, conspiracies, innuendo – it’s either incredibly naive of you or, well, I can’t say what else it means. Surely, you must know how this is panning out for you.
If you didn’t want to create the impression that you could make people into REAL millionaires in a year, then why, for heaven’s sake love, did YOU ever choose the word ‘millionaire’ for your Millionaire Apprentice Program?
Why didn’t you just call it Investors Apprentice Program?
I’ll tell you why – because that would not have sold so many of your seminar tickets to others who were duped into believing they could become millionaires. And yes, I know what you are going to say – it’s their own fault if they misunderstood. Read the fine print – it’s the old con trick, Steve.
From reading the Media Watch transcript it is clear that they could have been a lot harder on you. I think you got off very lightly indeed.
To now turn around and make out that the most respected and trusted TV program in your country is misleading people, is, itself, the height of buffoonery.
To call the Media Watch people “hypocrites” makes you look ridiculous.
And I am being kind.
Wake up, Steve. You are making things worse for yourself.
Bec
Bec, from my experience in the psychiatric field
there has got to be a void, a problem, in your life.I so want you to realise that the whole world isn’t against you. People aren’t out to ‘get you’.
Now it is a bit hard (for anyone) to diagnose you long distance so I seriously suggest you get some health advice, quickly.
That is if you want to enjoy the rest of your life instead of being bitter and trying to take it out on someone else, so don’t delay.
It, is after all, your happiness which is at stake.
Let us know, will you, what the eventual outcome is ?
In the meantime, so as motivate you to get some medical help, try to refrain from posting please until you have actually gone and seen a shrink.
Pisces
Bec,
Whatever…
Go on believeing what you will – I’ll worry about the business of helping people create wealth.
Have a nice day.
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
Originally posted by Rebecca1:To now turn around and make out that the most respected and trusted TV program in your country is misleading people, is, itself, the height of buffoonery.
Sorry Bec, which respected and trusted TV program would that be:
Today Tonight – chequebook journalism, never let the facts get in the way of a good story
OR
Media Watch – a known tall poppy lopper.
Media Watch is hardly unbiased and should be on a commercial chanel as it is no different to TT or ACA. It twists words into whatever it wants them to say.
From SMH, Jan 17th 2003:
‘Importantly, the judge found that Media Watch itself had been unfair, “because it did not acknowledge the evident diligence and trouble which the 60 Minutes team had gone to procure historic footage, to visit and interview ‘talent’ and to visit and film sites illustrative of the massacre. This effort made it Richard Carleton’s story (and, hence, that of 60 Minutes), not a BBC or CBS story.”
Essentially, the judge thought that if anyone was guilty of “lazy journalism” it was Media Watch because it had not thoroughly checked the facts before attacking Carleton rather too excitedly.’
Yup I trust what they say!
‘Eat rich food, barbeque a yuppie’ [greedy]
Steve, RugbyFan,
We are all wasting our breath trying to talk sense to Bec.
Until she has straigthened out her problems we are wasting our time and effort.
What is the saying again ? Oh yes, it goes like ‘None are so blind as those who don’t want to see’
Pisces
pisces – yr personal, condescending attack on bec says more about yr state of mental health than hers. if you cant win question there sanity – grow up
As Rugbyfan said,
Media Watch is hardly unbiased and should be on a commercial chanel as it is no different to TT or ACA. It twists words into whatever it wants them to say.
He’s spot on, Media Watch is a joke…
Cheers
r
Well, you know me Del- I do like to ask questions when things don’t make sense to me. I also like to be reasoned about it 
)
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