Spiderman
03-10-2004, 08:56 AM
This was a 3hr freebie intended to drum up business for various services (most notably as buyers agents) and a 3 day property workshop to be held in NZ. Seminars were held around Australia. The sponsors of the seminar are Richmastery, Entrepeneurs Success Centre and Universal Solutions.
The glossy hand-out brochure was clearly of the Brad Sugars/Anthony Robbins genre so much in vogue by property gurus. This tempered my expectations of the seminar, as did prior reading about ESC/Richmastery on various forums and jenman.com.
I'm pleased that Whitton's presentation exceeded my expectations. It was about 80% substance and 19% promotion; a fair mix for a freebie or low cost event.
The remaining 1%? It was one Robbins style collective shout (cashflow is king' or similar) and one 'massage the person next to you to wake us up'.
Whitton would have been about 30 and mentioned he'd been investing for 6 years (which means that he hasn't been exposed to all market phases, but full marks for disclosing). Like many presenters, Kiyosaki & Burley were crucial to Whitton's education (Whitton was also a school drop-out). He mentioned his journey with wraps and development, before settling for buy and holding a mix of properties, with cashflow properties supporting -ve geared growth IPs. This makes his method not dissimilar from my own.
There was the usual stuff about super not being good enough, most people retiring poor, etc that you get in everything from Kiyosaki to Somers. However he mentioned property as long-term, but that even many purchasing mistakes eventually right themselves through capital growth (again like Somers). He supported interest only loans because of the additional cashflow (even if buying cf+ IPs).
The main technique was buying below valuation to make money from day one. However there was little on negotiating to do this - presumably you could use ESC's services (for a spotters fee). However later on there were some hints on maximising cashflow and how some IPs are advertised as cf+ but aren't (like McKnight, they should be cf+ before tax). A practical demonstration on relying on tax deductions was given.
There was detailed coverage of financing (ie various ways to recycle equity) and how crucial this was for your portfolio's expansion. I was very impressed with this and had not heard this information before at any other event I've attended.
When a seminar is good I take copious notes. When it is not I don't. 10 pages of notes for a 3hr seminar indicates there a lot of solid content was given. Thus for me it was a good night and I'm very glad I attended.
Regards, Peter
The glossy hand-out brochure was clearly of the Brad Sugars/Anthony Robbins genre so much in vogue by property gurus. This tempered my expectations of the seminar, as did prior reading about ESC/Richmastery on various forums and jenman.com.
I'm pleased that Whitton's presentation exceeded my expectations. It was about 80% substance and 19% promotion; a fair mix for a freebie or low cost event.
The remaining 1%? It was one Robbins style collective shout (cashflow is king' or similar) and one 'massage the person next to you to wake us up'.
Whitton would have been about 30 and mentioned he'd been investing for 6 years (which means that he hasn't been exposed to all market phases, but full marks for disclosing). Like many presenters, Kiyosaki & Burley were crucial to Whitton's education (Whitton was also a school drop-out). He mentioned his journey with wraps and development, before settling for buy and holding a mix of properties, with cashflow properties supporting -ve geared growth IPs. This makes his method not dissimilar from my own.
There was the usual stuff about super not being good enough, most people retiring poor, etc that you get in everything from Kiyosaki to Somers. However he mentioned property as long-term, but that even many purchasing mistakes eventually right themselves through capital growth (again like Somers). He supported interest only loans because of the additional cashflow (even if buying cf+ IPs).
The main technique was buying below valuation to make money from day one. However there was little on negotiating to do this - presumably you could use ESC's services (for a spotters fee). However later on there were some hints on maximising cashflow and how some IPs are advertised as cf+ but aren't (like McKnight, they should be cf+ before tax). A practical demonstration on relying on tax deductions was given.
There was detailed coverage of financing (ie various ways to recycle equity) and how crucial this was for your portfolio's expansion. I was very impressed with this and had not heard this information before at any other event I've attended.
When a seminar is good I take copious notes. When it is not I don't. 10 pages of notes for a 3hr seminar indicates there a lot of solid content was given. Thus for me it was a good night and I'm very glad I attended.
Regards, Peter