Would have been terrific back in 1998 – but for now it is soooo outdated, no matter what you are told. Very similar concept to the '11 second solution' – great in it's time. Invest the $2.5k in some real estate! all the best.
Thanks for the info, Just trying to get to understand +CF so i am reading lots and googling heaps. I have seen a few sites offering 2 day courses with so called experts but i hesitate at the cost of these courses with most going for $2000 per person, how much information can they pass on to you which you can retain. From what have read they are just there to get more money out of you.
So far I have read Steve's book 0 to 130 properties and Margaret Lomas pocket guide to +CF Property. Any other books anyone can recommend to read as i build up some capital to fund my second IP.
I have read in one of the forums that you can't learn it from a book or siting in fron of the computer but at this stage i am trying to get a foot in the door.
There are many good (and not so good) property books out there. I have read numerous good ones, and one that I read later on in my investing career is by Michael Yardney, "How to Grow a Multi Million Dollar Property Portfolio – in Your Spare Time." If there was only one book I could recommend that encapsulates most of the factors of how to grow your asset base, this would be it. Very well written and easy to read.
Anything by Jan Somers, Craig Turnbull, Steve McKnIght, John Fitzgerald and Reno Kings are also worthwhile. Just remember that you may read differing views as each author usually has their preferred method of investing. You need to be exposed to much and varied information and make your own mind up about which strategy is for you. Good luck and happy reading.
I spent money on the home study course. Cost me $4000. I didn't have any idea on what I wanted to do and how I wanted to do it. It gave me some knowledge, but I didn't implement Hans strategies at all. If I could go back again, I wouldn't have spent the money on this course and would have spent it on books. (I did that too). At least it made me proactive and I have finally made some purchases.
He advises in this course to find CF+ properties within decent distance to major town centres, which are extremely hard to find these days.
As Steve says, you need to create CF+ nowadays and that isn't part of Hans strategy. He advises you should buy CF+ from day one, which are even hard to find in regional centres these days, let alone close to major cities.
Steve's 11 second solution and Hans RTP formula are both just formulas to quickly calculate a 10% gross yield, meaning that you will not have to pull any money out of your pocket to hold the properties. With rates the way they are going at the moment, even now this formula may not work in the way they advised back when it was written.
Read as many books as you can find. It will take you the same amount of time and give you a broader view of what strategy suits your situation, but it will cost you less than 10% of the cost of Hans course. Hans course is only one strategy and as I found, it may not be the one for you and you may kick yourself for not spending that money more wisely.
I did a search on the net and sent away for the free dvd, even searched on the asic website to see if the company was legit. I hadn't bought any books at that stage and thought that it might be the wonder course but now that i have read a few books they all have there litle spins on +CF IPs and as long as I take way from the book the general ideas and put them into place then i should be doing better. I just wondered about the age of the package and how much would be relevent to todays markets. With that in mind i am trying to get books that have been published either 2007 or 2008 so that they are up to date.
Yeah even though I have not done any courses, I cringe when ppl advertise workshops/3 day seminars/ weekend seminars and ask for $2K for the course. How could anyone justify that? I mean we are talking about 1000's of dollars here. I for one cannot justify that no matter what angle I look at it.
True – you can learn a lot more from talking to like minded people, the odd cluey broker, real estate agent, or odd bod that has an interest and some experience in property investment, and just 'feeding' on a variety of opinions. I have only ever been to one 'seminar' – and it was a 'special price' one – and I can tell you you only got generalities there, and the amount of people that streamed up to the back of the auditorium to buy 'seminar specials' and 'bootcamp weekend limited courses' and 'mentoring opportunities in a group' and all the other stuff was truly incredible. All for learning, but we are talkign thousands and thousands of bucks here – deposits for some properties! The theory of all these similar course IS terrific – but as others have mentioned are truly 'outdated' in the real world. The idea of reading, learning, and 'getting out and about' as you have time is a great way to go. Check out Margaret Lomas, Chris Gray, Craig Turnbull, Michael Yardney, Rachel Barnes, just to name a few. Different ideas and techniques, but people who have blazed a trail before you are all great to learn form – cheaply via ther books/experiences etc.
all the best – PLEASE let us know when you get your next / first IP -I'm sure it will be soon !
I agree with Michael and highly recommend Michael Yardneys book. Also well worth a read are "How to achieve Wealth for Life through Property Investing" and "How to Legally Reduce Your Tax" by Tony Melvin and Ed Chan.