peter spann

[rob paul]

Hi all

I see Peter Spann is having a seminar tommorow night, 8th oct in sydney,its only $28.00 so I presume it will be an appetiser only.
Has anybody been to one Peters seminars before.

any feedback welcome
I suppose I should go and see for myself

cheers rob

[DaleGG]

Hi

I haven't been myself, but, I am familiar with Peter Spann's ideas after a client of mine was good enough to provide me with a complete set of notes from his seminars . . . the $28 seminar is well worth a look.

Bye the way, whilst the notes were good, I would not recommend you spending that much money on a seminar.

Have fun

Dale

[Sunstone]

Dear Rob,

Have heard mixed information good and bad about Peter Spann.

However I do feel that first impressions do last.

His book appears to be about becoming an overnight millionaire and he flaunts the blonde long legs and ferrarri on the front of his book.

Quick riches is different to a long-term investment strategy.

I would agree with Dale, take the cheap bait but then concentrate on what you can learn from books and the practical input/advice you can get on this forum.

Cheers,

Sunstone.

[Les]

I agree - spend the $28 - you won't regret it. PS is not everybody's "cup of tea" - but I can almost promise you that the evening will be inspirational, and even somewhat entertaining!!! Depends where you are in the investing "learning curve".

Keep in mind that this dude went from broke to multi-m in 12 years - and is up-front enough in his "intro" seminar to say straight out "You can learn all of the info I teach in the weekend seminars by reading books - about 300 books - you choose which you would rather do" (or words to that effect..)

[geoffw]

Rob,

I went to the full $3000 course (as it was then).

At that stage, I did not have a clue about r/e shares retirement or anything.

He switched me on to a world of possibilities. I haven't gone down his recommended path- but I would not have even had a hope of going into r/e (apart from me DHA safe negative-geared property).

I guess I could have got the info from elsewhere.

But I would not havehad the knowledge (or the motivation) to move if it had not been to the seminars.

If you are self-motivated, you can pick it all up. Just the fact that you are in here means that you've got a big start.

I believe that the full Spann seminars are not going to continue for much longer in their present format.

But, that's OK- if you really want to know the techniques he's presented, there's at least several who are doing an almost exact copy.

[rob paul]

Thanks guys

As always honest sensible advice and opinions.
I will go and let you know what happens.

Rob

[Lissy]

Hi Rob
I went to Peter's intro night, and it was the best $50 I ever spent. Not sure if it's the same intro night you're going to for $28!
I say that not necessarily because of anything Peter taught, because most of it I'd heard before.
What happened for me, though, was that he talked about a way of combining investing in both shares and property, and I had light bulbs going off all over the place.
I still use elements of the ideas he talked about that night, and plan to use more of them in the future. I don't follow his system to the letter, but I know one thing - that night I got a lot more confidence that some of the things I was doing were a damn sight smarter than I'd allowed myself to believe.
I'm a big believer in finding knowledge wherever I can, as long as it comes with a small price tag. If I learn one or two ideas from an intro night like this, then to me it's been worth it.

[emac]

I second what Lissy said. I was enthused by Peter's seminar that I attended recently as it consolidated a few things that I already knew, and gave me a few more ideas to work on.

I have also been to the free teaser evening presented by HK's people and would definately say that I got a hell of a lot more from Peter's evening.

Free (or cheap) learning is good learning.

Eddie.

[geoffw]

Rob,

How did the seminar go?

[rob paul]

Hi geoff and others

I was pleasantly surprised.
He is a slick presenter,and one must be wary of someone constantly posing with his ferrari,so I was a bit wary.

The seminar was split into two parts one for r/e and the other shares
I didnt stay for the 2nd half which was shares,but did enjoy the first half.
Iit was a promo for his company freeman fox to get you as a client ,he did cover alot of real estate questions and the short tubby guy has a sense of humour.
What was refreshing was he didnt get into the pos/neg debate and handled difficult and stupid questions with the same proffesionalism.



my advice go

Rob P

[Jas]

A firend of mine went to a share traders seminar after going to Peter Spanns. The share presenter said the way Peter Spann does share trading is _Very_ risky, espically if you don't know much about shares to begin with.

Jas

[Lissy]

I think that "risk" is often a product of people's inexperience, rather than the actual truth. Most risk can be managed to an acceptable level if you're willing to spend the time and make the tough decisions.
I remember going to a presentation by a share options trader (something many many people say is too risky!) and he's done very well out of it. And yet - he only works on the buy side of options. I was doing stuff on the sell side, and he hit the panic button.... that's too risky!! hehehehe
Having said that, though, these types of strategies are extremely risky if you don't learn what you're doing before you start and can't make tough decisions under enormous pressure.

[TrevorG]

Dear Rob and others;
I have been to Peter Spann's intro seminar "Welcome To Wealth" 3 times, and have also completed the 2 day seminar "Money Magic" and will be doing the 3 day seminar "Instant Income" next month. After the first time at Welcome To Wealth I was very enthused, but still a bit sceptical and asked lots of questions about Peter Spann and his company Freeman Fox of his staff and graduates before I eventually shelled out the $4,000 for the 2 courses.
Money Magic deals with buying, renovating and renting out properties and also deals with buying and holding a share portfolio.
I have found the Money Magic seminar to be extremely informative and do mnot regret doing it, even though there is a mountain of course reference material that I now have to get through.
The bottom line is yes it is a lot of money to pay, but I think that I will be getting my moneys worth once I finsih studying all of the material and start buying properties.
I realise that this will not be the go for everyone and when push comes to shove you have to follow your instincts and as other people here have said, the information that Peter Spann gives is available from other sources. The only problem is getting it all together and acting on it.
I hope this response is of some assistance to you.
Regards Trevor

[geoffw]

Trevor,


I certainly don't regret the $3K myself.

Firstly, I was able toget myself out of a very deep tax hole by borrowing against my home.That's a subject for another story.

But, more importantly, I movedon, and learnt from the information.

I was helped by something of a boom in Canberra, I have been able to use Peter's knowledge to grow and to expand.

I have not used his full strategy in regard to shares. Yet. I've done well so far on the property strategy. I'm just dipping my toes in with shares.

I've since learnt from others- most notably Steve Navra.

But, whatever, I would not have been on this path without the Spann seminars.

[TrevorG]

Geoff;
Thanks for the feed back, it's good to hear from someone else that has attended one of Peter's seminars.
I am just getting started myself and have only completed Money Magic, with Instant Income scheduled for November.
I have nearly finished reading the manual that I got at Money Magic and have also read Peter's book Wealth Magic as well as "Rich Dad, Poor Dad" and "If you Want to be rich and happy, don't go to school" both by Robert Kiyosaki and am about to start reading The Richest Man In Babylon by George Clason.
I found Robert Kiyosaki's books to be really hard work but I did get something out of them and that's the main thing I suppose.

[geoffw]

Trevor,

I hope it goes well.

One thing, apart from the high level knowledge you get, is the low level knowledge.

It might sound basic. But, a book might tell you (for instance(, to "open a trading account... but options...") or whatever.

But Peter will tell you, step by step, exactly what to do. If you're calling an options broker, he gives a script just what to say.

The first time you do it, you're a virgin at the business. And it's scary. Really.

But the script really helps.

[bbruham]

G'day,
I booked and paid to see Peter last week, unfortunately something came up, happens everytime to me. I asked for the cost of the seminar ($28) to be creditted to a video tape($48).
No problems at all, done in seconds.
Four hours of Peter Spann is tough going, so I viewed it over two days.
Save your money, go to a couple of Investors Club nights for free.
The only difference is that The Investors Club is without charge,
and Peter wants big bucks for his.
The Investors club was one of the first to push this type of seminar. There messages are almost identical.
Bruce G.(Sydney)
:D

[geoffw]

Bruce,

I might have missed something here.

Investors Club says "Buy one of our properties". My impression was that they were all new.

Spann syas, "Buy an older property, renovate, and hold it. Buy some good solid growth shares. Here's some criteria. Write covered calls. Hedge your shares. Trade options. Use you Self Managed Super fund...".

There's nothing wrong with what IC is doing. But to say that Spann's message is almost identical to IC's I don't think does justice.

KY's aim, it seems, is for a comfortable retirement. That's fine. That would be more than 90% of Australians would achieve using traditional methods.

Spann's aim is to be much better off than comfortable. That's what I'm shooting for.

[suggo]

Geoffw, was wondering about this 90% of Australians achieving a comfortable retirement using traditional methods. All the material I've read indicates that 90% is way too high a percent to say for a 'comfortable' retirement. I don't know what you consider a 'comfortable' retirement, but according to More Wealth from Residential Property page 24 the annual retirement income for couples 82.1% is <= $30000, hardly what I'd call comfortable!
I'm not just trying to shoot you down, but I just felt the figures you quoted were a little misguiding (for want of a better word).

[geoffw]

I wasn't sure of the figures- 90% was much more optimistic than I remembered, but I wasn't sure- I opted for a conservative figure.

But I'm shooting for higher than comfortable- that's my main point. Spann shows a strategy integrating shares and property which should, he says, get you far more than comfortable. I'd like that, and I'm working towards it. Not necessarily using his methods all the way- I'm continually learning.

Investors Club is a very good starting point. But their stated intention is to provide a superannuation plan. One which will make you comfortable (that's my understanding anyway). Going with them will provide far more than most Australians will achieve in their superannuation schemes.

I'm not knocking IC in any way. Just that the Bruce suggested that you could learn no more from Spann than from going to IC meetings. That surprised me, given the number of different investment strategies that Spann teaches.

[Les]

G'day GW,

I wonder whether PS's slant might have changed somewhat (since bringing forth the Freeman Fox finance arm and property marketing arm ???) Perhaps his newer videos might tend to "push" this side more than the slant that was evident when you and I did the workshops ???

I agree with your words as I recall PS - perhaps Bruce can shed more light on his current slant - how about it, Bruce?

Regards,

[geoffw]

Les,

The last I heard, his stockbroking arm was not far off. That would bring some slant onto that side of things.

I can see why he's setting up this stuff- but, to me, it's a bit of a pity. When I went through the stuff, I felt I could take his advice over many others because he was not actually selling the commodities he was promoting, so was more unbiased.

[TrevorG]

Gidday Geoff and Les
Further to the Peter Spann discussion, Freeman Fox now has their stock broking, real estate and finance divisions up and running.
However, the last I heard was that at this stage these services are only available to members of the Freeman Fox "Wealth Club" which costs about $3,000 and upwards per year (depending on the type of membership) to be a member of subject to spaces being available.

[Mark Laszczuk]

Geez, $3,000 bucks a year? I assume that the 'members' of this exclusive club are getting the commissions that Freeman Fox would be earning from the various finance/investment groups they are putting money into? I would wanna hope so, $3,000 a year for a financial planner (which is basically what this whole deal looks like), you'd wanna be getting some pretty decent returns, I tell ya.
Just last year, I went to see a financial planning company, didn't go with them, they seemed to be interested only in people with a decent net worth. They were charging $3,000 for their financial plan, which I believe is right up there is the expense stakes. I could be wrong, I dunno, but I had estimates from other planners ranging in the $1,000 area.
So if Freeman Fox are asking for 3 grand just for the priviledge of being a member of this club, then they'd want to be doing very well, I reckon.

Mark
'no hat, some cattle'

[geoffw]

Real estate and finance are DEFINITELY not only avaliable to the select few- they certainly have been offering me those sort of services, and I don't fit into that mould!

However, I believe that they are targeting a select group for one-on-one wealth creation strategies. For the appropriate fee. Good on them. (in the same way that IC are successful at their target market- the fullfill their own role. Good on them too).

There are so many companies with things to offer, depending on where they are at the moment.

I've been ripped off by the sharks, and it's not pleasant. And there's a lot of sharks out there.

I don't believe Spann's people are sharks. They're targeting people who have found success initially with the stratgies learnt at seminars, and who have been successful at those strateggies- and want to go further.

Investors Club is possibly suited best for those who are starting out on the IP path. And for those who have found success on that path, who want to continue.

Each company has its role, and its target market. That's the nature of a free enterprise society.

People should be protected from unscrupulous people. But legitimate companies doing a legitimate job have their place.

[Les]

Yeah, Geoff,

It's funny how it goes some times, but $3000 all of a sudden doesn't sound as "off the wall" that it once did!! I've heard of some out there who "find" properties that charge $x,000 per door - whatever that means (my houses have LOTS of doors....)

Oh well, I guess it all just gives credence to the old saying that "NO-ONE cares as much about you as you do" (or words to that effect).

From previous posts, it sounds like you're "doing OK" Geoff - good for you. Keep doing it for yourself and your family. Good luck.

Regards,

[Sunstone]

Dear guys,

Just did an ASIC search on Freeman Fox and the following comes up. Seems he has diversified. Although interesting to see that "VAUGHAN HOSKING FREEMAN FOX PTY. LTD" had an external administrator appointed.

Number Status Name

ACN 082 376 127 REGD FREEMAN FOX PTY LTD
ACN 095 224 481 REGD FREEMAN FOX FINANCE PTY LTD
ACN 095 359 292 REGD FREEMAN FOX PROPERTY PTY LTD
ACN 010 763 041 REGD FREEMAN FOX SECURITIES LIMITED
ACN 090 134 795 REGD FREEMAN FOX INVESTMENTS PTY LIMITED
ACN 009 633 121 EXAD *VAUGHAN HOSKING FREEMAN FOX PTY. LTD.
ACN 095 224 472 REGD FREEMAN FOX ADMINISTRATION SERVICES PTY LTD


Registration Dates of "Freeman Fox" companies:

ACN 082 376 127 REGD FREEMAN FOX PTY LTD
Date 22/04/1998

ACN 095 224 481 REGD FREEMAN FOX FINANCE PTY LTD
Date 28/11/2000

ACN 095 359 292 REGD FREEMAN FOX PROPERTY PTY LTD
Date 12/12/2000

ACN 010 763 041 REGD FREEMAN FOX SECURITIES LIMITED
Date 12/11/1987 Australian Public Company, Limited By Shares

ACN 090 134 795 REGD FREEMAN FOX INVESTMENTS PTY LIMITED
Date 27/10/1999

ACN 009 633 121 EXAD *VAUGHAN HOSKING FREEMAN FOX PTY. LTD.
Date 22/10/1986; 02/09/2002 018420185 5 524A Presentation of Liquidator's Account And Statement

ACN 095 224 472 REGD FREEMAN FOX ADMINISTRATION SERVICES PTY LTD
Date 28/11/2000

Seems the stockbroking arm has been going for quite sometime although the name only changed on the 26th of July this year.

Due diligence is something that always needs to be done..... with the good and the bad.

Cheers,

Sunstone.

[geoffw]

Thanks Les.

I'm "doing OK". I'm growing, learning, and creating a portfolio.

This forum is probably the most valuable information resource I have. The new format I feel encourages a lot more open exchange.

Two years ago (when I met you last- at the The Wife's Big BBQ in Canberra) I thought I was starting out OK. Shortly after that, the big tax problems started (http://www.somersoft.com/forums/showthread.php?s=&threadid=461 )

I haven't let that defeat me. It's been a rough few years. I've learnt to cut down on the things I "need" to have. And some good property prices have helped me to expand (as they have for many other people).

[brains]

Ill second that one, RichDad PoorDad was an ok book with good concepts but i just dont like his writing style, its not exactly riveting and he doesnt explain how to do things , he just says this is what you do in a really broad sense. The Richest Man In Babylon is ok too, but a bit basic, for begginners only id say. Like "save the first 10% of everything you earn" type stuff.

BTW..I went to the Doidge/Eslick Forum in Brisbane a couple of weeks ago and i reckon it was fantastic, certainly worth the $1300 odd i paid, plus the 480 page manual is great.

[bbruham]

G'day all,
Why spend thousands of dollars on these seminars when it's all here?
If I needed any help in buying property in Sydney I would be
knocking on Steve Navra's door.
In Melbourne without a doubt it would be Michael Yardley's door.
For financial advice, super hero Rolf Latham.
Then on top of these experts you have the whole forum, AND IT'S
ALL FREE!
Can't complain about the price!
My question is, who's the expert in Brisbane?
Bruce G.
:D

[geoffw]

Why spend thousands of dollars on these seminars when it's all here? There certainly is a wealth of information available here. Far more that one could get by reading many of the books available from bookshops.

But there is also a wealth of information available further afield. Don't ignore that.

Michael Yardney gives seminars. They cost a fair amount too. I'm sure I will attend one of those when I'm at the right stage of development (so to speak). Other people give seminars.

The Spann seminars I went to are the only ones (so far) which cost thousands. But, as a result, I'm tens (even hundreds) of thousands better off. If I hadn't gone there, I would not have been in this forum. But, even if I had been in this forum, I may still have been one of those people wondering if I should really do something "right now".

I supplement my education here by reading, going to evening seminars, trying to get together with other investors, and doing research on the web. As good as the people on this forun are, I fully intend to learn the maximum I can, and not to be "limited" by the advice which people give without payment.

(Don't get me wrong. The advice given is superb. But there's room ouside this particular nest).

[Clay]

I agree with you geoff....Peter Spann was my first introduction to 'bigger thinking' and for that I am grateful. I attended most of his advanced seminars and realised that many of the attitudes and approached he had I was already using, just didnt realise it. Learnt heaps of new stuff though...so the cost? If you can't bear to pay $100 in order to learn more so that you can increase your net worth by $$'000's of dollars, then it shows that there's still a way to go to understand your relationship with money.

If I learnt anything from Peter, it's about how I FEEL about money, rather than how much of it I have. He was so true when he said the majority of people have a poverty mentality and it is that mentality that keeps them where they are (usually nowhere!). I've been there and it's a sad and desperate place to be. I left his seminars not so much shouting about his methods but understanding that success starts in your head - not in your wallet.

Yes, his seminars are expensive and yes, you can learn a lot from other sources (often cheaper). Now that I have gone to his seminars, I most likely wouldn't go again. His view is very stylised and works well for him and someone from his background (he even admits to hating the thought of being poor and he works hard to distance himself from his humble beginnings). But, if someone can get you further up the road and heading off to a better future for yourself and/or your family, then the dollars become irrelevant over time.

My only note is that, as already said, Peter's approach is quite dependent on using a proprietry system and although everything he teaches can be done by the individual, it works better through his organisation. Nothing wrong with that, as some people like this approach.

[brains]

So true Clay...everyones heard the saying "Free advice is worth what you pay for it" I dont entirely agree with that, but i have no problem spending money for education, i have (and will) have got back multiple times the amount from the seminar in Brisbane cost me. I come from a small business background where my philosophy is " you have to spend money to make money" i think its the same with educating yourself for investment. People who try to do everything with absolute minimal outley usually dont get far.........just my opinion

[bbruham]

G'day all,
I love spending money on myself, but hate wasting it on these
people who feed you a little bit at a time to encourage you to spend more and more money so you can learn their secrets to wealth. Their wealth! Not yours.
I went to three Investors Club meetings, listened to what they said, got the "know how", and left.
Peter Spann and the Investors Club practice this.
"Buy as many properties as quickly as you can afford. Using interest only loans.Magic number is seven properties.
Properties value double every seven years, so on the seventh year your equity has doubled on the first property so borrow the equity and live off that equity. Repeat every year, using each properties equity.While property values continue to grow you don't have any worries. Rent increases cover your equity borrowings.
So simple! You have just saved yourselves $3,000.
When I read my first book on property investing, Jan Somers of course, I rang the Somers to ask what properties they recommended. Ian answered the phone.No way would they even suggest anything like recommending any property what so ever.
The only advice I got was buy the API magazine.
Bruce G.

Have the courage to take your own advice.

[bbruham]

G'day Geoff W.
In one of your comments about paying big money for seminars,
you said even Michael Yardley charges these kind of figures.
That may be true but I wouldn't be going to his seminars.
Straight into his buying one of his built full duplexes.Having Michael to do all the ground work, including finding the right property for demolition.
Bruce G.

[geoffw]

Bruce,

Horses for courses.

If you're comfortable learning from the forum, by reading, and by whatever other means, that's fine.

I came from a different viewpoint. I needed to be woken up. For me, it was of value to pay $3K- I did not even know there was a world of opportunities out there. I was happy to work out my lifetime in my job. I did know, however, that there might be a rocky road at the end of the job. For me, the $3K was very worth while.

For you, well, you're already coming to this forum. So you're already far ahead of where I was way back when.

But You have mentioned people giving stuff free. In the end, there's a lot of people, who, while contributing valuable information, stand to gain something. Is that wrong? I don't think so. Asjust one example, Dale gives freely. I respect him for that. But he will pick up clients (as he deserves to).

And if somebody charges for a seminar where I could earn a lot more than what I spend on the seminar?

Well, I'd have to be convinced that that was the case. But if it was, and if I had the means to do it, I would.

That was only from my point of view, from the life journey I am following.

By all means, take all the knowledge available which is freely given. But don't completely reject knowledge you have to pay for- just because you have to pay for it.

[bbruham]

GeoffW.,
You are right of course, for you, and some others. But I'm one of
these people (complete dead ****), who can't take advice from my fellow human beings.Not even my parents.
I must do it myself. If I go down the drain I can only blame myself. I've read quite a few books on property investment,when you check out why do they write their books the answer is userly to make money for themselves.
If you go to their websites they turn out to be realestate agents, financial advisers and sharks of a kind.
Even the postings on this website could be highly dubious. Who's to say that what you read here are true, or could they be stretching the truth a little.
I could be telling you that I've a hundred properties. Makes me one of the boys, (or gang).Plus I feel good telling lies.Boosts my
inferiority complex.
That being said , I only have three properties, one taxi, shares
plus managed funds, a gov't super fund which lost $2.1 billion dollars last financial year.
It would be very interesting if everyone actually listed what they did own!
I love reading this website regardless.

Bruce G.
Have the courage to take your own advice.

[Sunstone]

Dear Bruce,

Funny thing is we were talking about how many IP's the average person has on this forum.

Consensus is that it is 0.8 IP's average. Now we could run a poll on this but the fact is that it is not going to be accurate through a skewered answer base.

Are postings on this site dubious? Personally I think people can learn through most of the posts on this site. It may get you to think about a property issue in a new way or new light or just reinforce something that you already thought you knew. Nonetheless education is a neverending process. (Who says you can't teach old dogs new tricks?)

Courage to take your own advice? Yep I'll certainly give you that.

Cheers,

Sunstone.

[landholdings]

The problem is that the more IPs you have the less likely you are to boast how much you own. So the best way is simply to talk to people individually and they may or may not tell you but if you find that they are genuine investors they will give you a lot of really worthwhile advice. The best advice may be free, but you have to ask for it!

Cheers!

Landholdings.:p

[geoffw]

It would be very interesting if everyone actually listed what they did own!Not so much as to how many people own- but as to what they are doing, and where they come from- has been covered by many in http://www.somersoft.com/forums/showthread.php?s=&threadid=402

I think the journey is much more important than the destination (as long as the destination is kept in sight)

(btw Bruce- you have as many properties as some people who write books have. I might have some nerve posting when I have just four properties (and of much lower value than Sydney Melbourne contributors)- but at least one guru has written a book having only three.)

[bbruham]

G'day GeoffW,

What you said about how many properties "one" has makes no difference to their contributing to the forum is right.
As I said I only have three, all units. That is my mistake I should have bought houses. Right next door to each other(joke).
But we learn by our mistakes, I hope!
Michael Yardley is the way to go. Buy a house on land suitable for
duel occupancy, bulldoze the place and build two duel occ 's.
Two rents towards the mortgage.
It would good to see what investment properties everyone has
listed underneath their postings information.
This would give the newbies an idea of who they could "select" as their mentor.

Bruce G.