All Topics / General Property / You must be joking right?? Property Market bottomed “M.Yardney” … secrets by REIN … How to control 2mill with $x by Fitzy??

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  • Profile photo of wealth4life.comwealth4life.com
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    I don't know but can I get your opinion on this please there are a few questions below …

    1. 3 FULL sized adds in the week end papers for property seminars and some using celebrities to drag people in to sell Meriton Stock like REIN …

    2. Fitzgerald now offering you a way to control 2million in property with only $50.00 per week (sounds like Henry Kaye)

    3. Another email from Metropole Michael Yardney saying the property market has finally bottomed (only been saying this for 18 months)

    4. And the Aldi group advertising property seminars on this site … does that mean they are endorsed by Steve McKnight.

    This is so old to all the avid investors here who are I am sure so over this. This is a great site for people to learn and get educated and I believe we should discuss this and send an expert to each seminar and then discuss the deal behind the offer. I have been reading how the government is clamping down on these people who are giving advice and losing peoples money.

    I believe the market has not bottomed especially when a $2.00 per litre petrol price is going to hit into average Aussie investors … yes because of commodities prices in housing will rise, however there are some great bargains out there not associated to seminar sprookers and the answers are in these forums.

    Do any of these seminars come with a written personal and directors guarantee that if they give advice to buy a property and the property drops they will refund the difference … oh no because property is a loooooong term investment … not to Steve McKnight as when you make a profit you sell right Steve as you have done.

    Lets design a guarantee and get these people to sign it then send it to the department of fair trading as giving advice, because thats what they are doing with out proper liciences … IMHO

    No just b4 you shoot me down, I love learning new stuff and attending informative seminars … but hey boys not Chinese water torcher … why not give us a $100.00 petrol voucher to attend your next seminar because thats what it cost me to park a car and drive there not to menttion my time.

    D …

    Profile photo of Michael 888Michael 888
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    Hi D,

    you make some good points. I don't believe the market has bottomed. That may occur in another 6-12 months. BIS Shrapnel are amongst the more pessimistic of the forecasters and they are tipping a further 0.5 % rate rise this year and maybe in one hit around Sept.

    I seek my information from books, online sources, networking and attending seminars. I have to admit that I have learnt from both Michael Yardney and his events and from John Fitzgerald (I assume that is who you mean by 2. Fitzgerald), amongst others.

    Many of these companies do offer guarantees in some form such as rent guarantees if your product is not finished within contract timeline. I know for a fact that John Fitzgerald actually coughed up and finished numerous properties for his clients when a builder went belly-up a few years ago and then got re-imbursed by insurance later. He didn't have to go to such lengths, however property is a relationship business and you need to keep the customers happy. I know him personally and he is definitely not like Henry Kaye.

    Having said that any company guarantee is only as good as the $ 2.00 entity behind which it hides. Times are getting tough to move stock and so I think we will see plenty more advertising to move stale/stagnant stock or projects under completion with few buyers. There should be more opportunity over the next 18 months to be picky and choosy about what we invest in…eyes wide open……….and,   Caveat Emptor.

    Profile photo of god_of_moneygod_of_money
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    I agree with you D. However, there are few bargains out there in property market.
    Some of the investor(s) who attended the seminar might not be fully informed regarding the risk and complications associated with particular investment product. They should have a policy of written consent etc…
    I am just wondering how long the ACCC and ASIC will let the practice like continue for how long?.
    It is time to have a regulation of 'dodgy' seminar that will ripped the consumer off. It must have PDS (Product of Disclosure Statement) like any financial services.
    Do we want to wait like collapsing of Fincorp, Bridgecorp etc… when billions of dollars are down the drain for nothing?
    Where is G. Samuel, the man that being appointed for so-called 'protecting consumer rights'??
    Time will tell…………..

    Cheers

    Donald

    Profile photo of gmh454gmh454
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    ASIC is an absolute joke, as HG and Roy would say, will only ever act after the ballong goes up. Thety have become just another income collector of the gumnut.

    That  said, what you have described it counter the cycle, as public sentiment is all time low, unempolyment moving up, loans figures have slumped and building activity lowest on record (only kept since 2005). …..but these guys never let facts stand in their way before so why now..

    Profile photo of Jon ChownJon Chown
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    It's funny that when ever you guys go to sell anything you are never lost for reasons as to why it's worth as much as you think it is even if it isn't – Wish we could legislate against that!!!!

    If everybody was to believe all of the negative statements on this site we would without doubt create a self fulfilling prophecy and sell up everything we own and move to Nigeria.   Perhaps someone has to put the other side of the story after all we all understand that there are three sides to any story.   Your side – My side and the truth.

    Profile photo of gmh454gmh454
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    Jon Chown wrote:
    It's funny that when ever you guys go to sell anything you are never lost for reasons as to why it's worth as much as you think it is even if it isn't – Wish we could legislate against that!!!!

    If everybody was to believe all of the negative statements on this site we would without doubt create a self fulfilling prophecy and sell up everything we own and move to Nigeria.   Perhaps someone has to put the other side of the story after all we all understand that there are three sides to any story.   Your side – My side and the truth.

    Jon are you inferring that I cannot back up what state ??????  I only deal in facts, go over my posts….

    If not referring to me please don't take offense,

    Profile photo of Jon ChownJon Chown
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    No offense taken gmh454.  I'm all for healthy debate on relative topics which help people to make informed decisions, but  I'm just a little peeved at the negative attitude that so many on this site have towards Agents, Lawyers, Seminar Hosters, Brokers, Advisers, Property Managers,Tradespeople and in fact anyone who may make a cent out of dealing or talking about property while it seems it's their god given right to make profit at someone else's expense.

    Profile photo of wealth4life.comwealth4life.com
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    Hi Jon and I believe this is my first reply to you … you look like a nice man in your photo and i'm sure one of the good guys …

    Jon it's like this … this industry is full of low scum bags robbers and thieves … thats the problem this industry has attracted … SLICK SALES PEOPLE … like

    Bridgecorp … Fincorp … Christopher Skase … Henry Kaye … etc etc how many can we add to Jon, possibly pages and pages …

    Jon these people have been scamming the unsophisticated investors (uninformed mum and dads etc) for years … people that don't have a accounting back ground or financial services qualification … this industry attracts lots of deveats … thats the point Jon.

    You and many others may be one of the good guys, like John Fitzgerald and Peter Spann but the truth is Jon history shows that over 80% are on the news for the wrong reason … Neil Jenman right or wrong has exposed many of these people, even him self.

    The ASIC and ACCC are tooth less tigers just look at the mess over Kovlin Bangaroo … it took an angry client to drag him back to Australia where he is in JAIL for cheating and has ruined like so many a wonderful industry and made our reputations even harder … oh I have 3 diplomas – advanced certificates in 2 industries and am compliant in 3 states of Australia and i specialize in Real estate Research with a love affair in commercial.

    D … make them accountable when they make statements to the PUBLIC … put it in writing and sign it then give it to a solicitor … don't use leverage to make a sale to an unsophisticated investor … we are dealing with peoples future savings.

    Profile photo of god_of_moneygod_of_money
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    I agree with you, D. ASIC and ACCC are basically bunch of idiot and USELESS.
    Unsohpisticated are losing Billions of dollar from these spruikers trying to convince them to 'lose' money, Yet NO ACTION from ASIC or ACCC till the end.
    They are good in talking rubbish everyday in newspaper about cracking the issue of monopoly of Telstra, fixation of petrol price etc….Yet the most important job they ignore

    Profile photo of seankseank
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    I agree with your comments, however to call them thieves & robbers would imply they had no CHOICE but to hand their money over, the fact is they did have a choice, and some responsibitly must lie with the investors,  It has happened before and will continue to happen, with even so called "blue chip" companies not immune.

    Profile photo of god_of_moneygod_of_money
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    You must be joking Jon, a Cent????? VS. billions of dollar down the drain….. Did u just arrive from nigeria?

    Profile photo of LinarLinar
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    Hang on for a minute.  The cosmetic industry makes billions and billions of dollars every year from selling products that don't work.  Should ASIC shut down all the cosmetic companies too?  What about the weight loss industry?  What about Lotto – should that be legislated against too?  After all, the television adds suggest that if you buy a ticket in Lotto you could win it yet the chances of winning lotto are far smaller than the likelihood of making money from attending and applying the principles taught in several property investment seminars.

    Property investors attend seminars of their own free will.  The majority of us are not silly enough to believe that you can really control $50M in property with no money down.  If people get "sucked in" to believing the hype then they have to take some responsibility.  Most people who buy properties from seminars and lose money on the deal do so because they don't do their own due diligence.  And there is no excuse for that.

    I agree that when "spruikers" deliberately steal money from people there should be some ramification but for the large part, if people to choose to spend their money on a product that suggests an unrealistic outcome then they really stop trying to blame everyone except themselves.

    I spent 5 years at Uni and several thousands of dollars getting a law degree.  Yet when I finished I was working with a bunch of miserable people.  I was the ONLY person working as a lawyer that I knew who didn't hate it.  Should some regulatory body step in and ensure that the Unis offer some money back guarantee if you hate your profession at the end?  After all, they are advertising their courses with young beautiful happy faces.  I can tell you, I didn't see very many young beautiful happy faces at any of the law firms I worked at!  I saw pasty, chunky, unfit 20 – 40 something year olds who worked 16 hours a day.

    Do we really want to live in a world of Big Brother where everything we do is watched over by someone to make sure that no-one will lose money over a deal?  The whole advertising industry would shut down.

    I remember hearing a saying a long time ago that was something to this effect.  "If all the money in the world was divided equally amongst every person in the world, within a few seconds some people would be broke and other people would be millionaires".

    Cheers

    K

    Profile photo of wealth4life.comwealth4life.com
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    Wouldn't that be great K … maybe we could eliminate Lawyers as well because they interperate the law to keep them employed IMHO … why is the family home soooooo different to other financial vehicles …. because its the GREAT AUSTRALIAN DREAM and thats the key point.

    D … just kidding …

    Oh by the way Mike Y … Philip is not writing these he reads this forum from time to time so you don't need to email him as a worried sole … He has given me a message for you … He said IHHO when u started out he thought what a great bloke and a fresh approach … and now what a shame another nice one has fallen victim to the trap … Michael how can you HONESTLY publically announce that the property market has FINALLY bottomed … you are on record now for 18 months saying this, maybe you will get it right soon and then say "i told you so" … OUR prediction is the market will WORSEN b4 it improves … Read the financial news from around the WORLD Mike not just from Victoria … Petrol at $2.00 a litre interest rates UP AGAIN b4 the end of the year, and other stuff only a financial analyst would understand … Mike if I bought a property under your ADVISE will you personally guarantee that by the end of this finacial year it will not drop in value … lets say a property in western suburbs of Sydney as a MIDDLE class subject and if it does drop you will PAY me the difference …

    You look great for a 56 year old … and Michael your newsletters are superbly put together … keep up the good work minus the outlandish statements and yr got my vote.  … D … LOL

    Profile photo of MichaelYardneyMichaelYardney
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    wealth4life.com wrote:
    Oh by the way Mike Y … Philip is not writing these he reads this forum from time to time so you don't need to email him as a worried sole … He has given me a message for you … He said IHHO when u started out he thought what a great bloke and a fresh approach … and now what a shame another nice one has fallen victim to the trap … Michael how can you HONESTLY publically announce that the property market has FINALLY bottomed … you are on record now for 18 months saying this, maybe you will get it right soon and then say "i told you so" … OUR prediction is the market will WORSEN b4 it improves … Read the financial news from around the WORLD Mike not just from Victoria … Petrol at $2.00 a litre interest rates UP AGAIN b4 the end of the year, and other stuff only a financial analyst would understand … Mike if I bought a property under your ADVISE will you personally guarantee that by the end of this finacial year it will not drop in value … lets say a property in western suburbs of Sydney as a MIDDLE class subject and if it does drop you will PAY me the difference …

    You look great for a 56 year old … and Michael your newsletters are superbly put together … keep up the good work minus the outlandish statements and yr got my vote. … D … LOL

    Thanks for admiring my good looks and my newsletter.

    I'm not really sure what you read – I have not been on record saying the property market has bottomed. There is not one "property market."

    Some regions have done very well over the last 18 moths – haven't they. The latest figures from Residex show that the Melbourne Median price went up 16% in the last 12 months, and similarly in Brisbane.

    I wouldn't buy property in Sydney's western suburbs – would you?

    Profile photo of Matt007Matt007
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    Interesting thread. People make some interesting points all round. 

    Jon  yes people have a negative attitude towards seminar spruikers and the like because there seem to be (more often than not) good reasons to have that attitude towards them, for example false or grossly inflated claims of potential income/wealth, grossly inflated claims or plain false claims in regards to the company and it's core business, false claims as to what they can 'do' for you in support or in fact their qualifications/experience to provide that guidance/educationd and support in the first place… they take advantage of people who don't know better using high pressure sales techniques and NLP designed to do nothing but seperate people from their money. As someone rightly pointed out above, ultimately the $2 company and trust based in Nauru is worthless when ASIC or the ACCC come knocking and write another 'stern letter'.

    I don't doubt there are one or two good ones out there, but for those one or two there are plenty of shoddy, baseless and utterly deceiptful spruikers. I can think of one in particular who's about to meet his maker as finally he pis*ed off the wrong people and now faces some legal action for fraud and deceptive conduct. Every dog has its day and I will be laughing all the way when he gets charged. I don't think what's being expressed is a negative attitude, I think it's a stance of 'prove what you say is real, prove you've done it and can do it again before I give you a single cent,' which in my book is simply called due dilligence. I dont' call that negative, I call that smart.
     

    Profile photo of FalvsFalvs
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    Ladies and Gentlemen (The term Gents is for a toilet, not a person);

    I have attended many of these conferences and continue to find them of great motivation and an excellent oppurtunity to network with other motivated players in the property industry.  That being said, I still struggle to be informed of any new 'key' information that will dramtically change my ways.

    I think we all have taken a number of years to study, research and live the cycles we choose to use to make our investment dollar.  This is what I enjoy talking about whilst getting coffee in a conference break, but I am frustrated at the use of a paid event to advertise further packages and more detailed training courses.  Michael Yardney, I give you a significant amount of credit for the work you have done in educating property investors throughout Australia and the probably the rest of the world; but good Sir, can you please not use one hour of your seminars to advertise 'what Metropole can do for you'.  I have experienced this a couple of times now and I'm sure that you are not the only one in the industry who uses thisgreat oppurtunity to promote your services. I am by no means implying that many many people have not done extremely well from the use of the your companies services. Quite the opposite.  Those reading who have not heard Michael or spoken with his team, I highly reccomend it so that you find out what YOU can achieve.

    I will go out on a limb here to say that Australia has one of the best property investment cultures and knowledge bases in the world.  We have been blessed with a fair taxation system that supports basic investment techniques and have a number of investors utilising it at its lowest levels.  Where we are lacking in this area is training and support for the mid level (have two properties and wan't to make something real of it).  This demographic has ready income to purchase expensive seminar tickets and are fully aware of the tax deductability of self education expenses!  But it appears that the education infrastructure beyond this level is sposored and conducted by those who serve to profit from it's teachings. 

    Other options for recognised and controlled training include the Realestate Institutes and the Financial industry training. The institutes exist to further the network of Agents and Rental management within each state and territory.  Real professional development in property investment will not be gained through them, and financial services training will make you master of insurance bills and superannuation rules.  None of the supervised training courses will be much good to the aspiring 'Donald Trumps' in suburban Australia.

    So what does a serious property investor need to be? A marketing specialist, social scientist, artist, negatiator, student of history and a person with self belief.  I know I can at get at least the basis of these skills from colleagues in forums like this and through my own trial and error.  I pay enough for expert advise and compliance with Government requirements, I don't need to pay to learn and then end up paying to be sold a product.

    Supervision is needed in the property investment seminar industry.  A disclaimer and Product Disclosure Statement should be seen as the minimum requirement for attendance at any conference conducted by industry service providers.  After all, what product do you get for your $100?

    I'm normally a positive person.

    Falvs

    Profile photo of bardonbardon
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    I frequently go to Michael Yardneys website propertyupdate.com.au and I have found it a very useful free resource.  I have never bought anything and dont know the guy but anyone who provides a free resource is useful in my book.  I never blindly follow what anlaysts say but I do review what thye are all saying and form my own conclusions accordingly.

    Profile photo of wealth4life.comwealth4life.com
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    Hi Bardon …

    Yes I agree with you … I believe that M Yardney for the greater part does an unbelievable job especially with his eMail news letters and information … brilliant stuff and very informative.

    I also believe that Michael like other good experts are pulling their hair out trying to disypher the current and future markets when just about every expert has a differing vantage point of it.

    My only gripe is people making statements to entice unsophisticated investors into their web … I do not believe that M Y does/did that intentionally and has genuine intentions to help people for the long term …  When I first posted this  was for that reason only and if all those people go back over ALL their marketing material over the last 12 months and read it back to them selves they will get an understanding of what I am say or was saying at the time …

    I just this morning read another one – not from M Y – saying he's worth 10s of millions of dollars in real estate … how much is that can some one here tell me and are these people really so full of them selves to make such sweeping statements … if they are genuine provide a print out of RP Data of their properties and subtract it from their debt to show us what they are "truly" worth … I just don't see Steve do that and thats why i am attracted to this site because it has some class …

    D … LOL i'm finished on this one.

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