I recently came back from a ‘think and grow rich in property’ seminar in melbourne.
I was interested in two speakers: Carly Crutchfield and Rick Otton.
What they were saying about vendor finance, options, ect ect ect seemed simple enough for someone with NO EXPERIENCE WHATSOEVER to get involved in property and make some money.
First: id like opinions on the speakers and whether it is a good investment in their courses
Second: any ideas/advice/suggestions for someone whos knows nothing to get started in property?
Any help would be great!sonyasalMember@sonyasalJoin Date: 2008Post Count: 421
The biggest tip is research,research, research. Read as much as you can about the type of property you are interested in, the areas you are interested in as well as the property strategy that interests you. Do you want to buy, renovate and sell? or do you want to buy and hold, or develop land? Do you want to have negative or positively geared property? as far as the courses go I have not had ant experience with either of these people so cannot comment in that regard
Im looking for some ideas in the way of property strategy, i mean the only prerequisites i hold are ‘returns a profit’ and i dont have much money to outlay to begin with. But i have time.KCMMember@kcmJoin Date: 2010Post Count: 11
I agree with Sonya, research number one, I started by getting books out of the library on investment property , eg Jan Somers, 'Building Wealth story by story', very informative of everyday peoples good and bad investments in propertys, plus other books.
Secondly I went to our accountant who gave a free investment consultation in regards to tax benefits, how to word contracts etc.
Thirdly I went to the bank to see if and what our borrowing capacity was for an investment property.
And also spoke to an insurance broker in regards to different insurances especially Income Protection as this is tax deductible as well.
All this cost nothing but time, and research, Now all I have to do is act on all I have learnt and become a First time Property Investor as well.
KCM thanks so much, that is perfect advice. I just started ‘think and grow rich’ then ill have a look for some more books.
Thanks againKCMMember@kcmJoin Date: 2010Post Count: 11
If you haven't checked out this website it is a wealth of information, go to the top of the page and click on site info – press room – this is about Steve McKnight, go to the bottom of this page and open his questionaire, it puts a whole different thinking process to positively geared property which is how he makes his success in invest property, v's negatively geared property. Very interesting.Investments_R_UsMember@investments_r_usJoin Date: 2010Post Count: 4
I have been to similar seminars which focus soley on Vendor Finance, the one I went to focused more on mining towns which would have agaurantee rents of well above mortgage payments for the first 12 months.
These can be good and bad. As Sonya has said, research is your friend. Do it right and you should be fine!quickchickMember@quickchickJoin Date: 2004Post Count: 168
I perceive that Carly is offering people the opportunity to learn her system of options, then find some options to sell to her company.
Not sure about Rick Otton.
I suggest you try reading Steve McKnight's newest book. If you find its the sort of help you are looking for, then join his mentoring programme. It is the most comprehensive education and mentoring programme for property investors that I am aware of. (I have and its working well for us. And I have nothing to gain by recommending it to you.)
@quickchick. What the name of the one you are referring to? I know he has a new one coming out but i’m thinking its not released yet.
Thanks to all for everyones comments, You’ll be seeing me get more involved after i charge through this pile of property books ive been recommended.
Sineadjeff.rParticipant@jeff-rJoin Date: 2010Post Count: 12
Just wondering if anyone has done Dean Parker's 1 Day course on renovating for profit? I am thinking of forking out 800 bucks to do it and would love to hear from anyone who already has and can vouch for it. I came close to signing up to a similar course (Renovating for Profit with property renovation king and queen Stephen Tolle and Cherie Barber) which was a bit pricier at around $5000. I know that everything they teach i could work out myself over time but i figure i can make back the money I spent on the course reasonably fast even if it were from avoiding a costly mistake I learnt from them without having to learn the hard way. I am a painter and have many connections in the buildng industry therefore the costs of renovating are of lower concern to me than say someone who knows very little about the building industry. All I need is the knowledge in how to generate profits from this and I'll be set. Any feedback on this would be much appreciated.
Also, to anyone who is well experienced in property renovation I will pay you generously to personally teach me waht you know.
Thanks.quickchickMember@quickchickJoin Date: 2004Post Count: 168
I haven't done Dean and Elise's whole day, but have heard them both speak several times on renovation.
If it is a proven system with heaps of practical tips and real life recent examples including numbers, costs and pictures you are after, this is the one.
Pretty good value at the price, I'm sure you'll find.
You could pay with 10 yrs to find it out yourself, as you said, or leverage off their experience and save some expensive mistakes!
Maybe you can even also arrange a day as an "apprentice" in their business. (not sure, but you could ask.)