Anyone attending the Dymphna Boholt talk fest Feb 6 in Sydney?

[MTR]

Ozperp her whole website is about predictions and forecasts.
I predicted this, and I predicted that.

from the court transcript:

REPORTER: She [Ms Boholt ] now owns more than 60 properties all around Australia." (emphasis added)

The fact was, as affirmed in a declaration made by the primary judge, Ms Boholt did not own in excess of 60 properties at the time the representation was made.
The primary judge also made a declaration with respect to the broadcast on 30 January 2004 to the effect that the statement in the transcript:

represented that Ms Forster had made millions of dollars through investing in property whereas in fact at this time she had not made millions of dollars through investing in property.

...misleading and deceptive representation that Dymphna Boholt owned in excess of 60 properties[38].
The trial judge also found...that in the first episode the respondents made misleading and deceptive representations that she had purchased over $1 million worth of property and was a millionaire.

Yet people still pay to hear her peddle whatever fantasies she has these days...

Hi PB
lets get real D Boholt is highly successful entrepreneur, accountant, business woman, economist, multi-millionaire best selling author.

I am not surprised people pay for her service. Don't know too many who can boast these credentials.

Cheers, MTR

 

[Piston Broke]

Hi PB
lets get real D Boholt is highly successful entrepreneur, accountant, business woman, economist, multi-millionaire best selling author.

Yet the High Court of the Federal Court says her representations and advertising is BS.

Gee MTR, I must wonder which of the two which is more "real".
Who is more "real" and believable, the spruiker or the High Court of the Federal Court .
It's just not all that discernable is it, very tough to pick indeed...

thou a case could be made that the misleading & deceptive practices found by the High Court of the Federal Court may have indeed been good earners.
Which is why we have the ACCC & the courts in first place remember? So too many people don't get fleeced.

---- edit

Jenman wrote December 4th 2007:
http://www.jenman.com.au/news_item.php?id=397

"For several years, Dymphna has been spruiking property in America. She tells Aussie investors that they can get "phenomenal returns" and that "returns of 20 - 30 % are not uncommon"."

"Buying in the USA, according to Dymphna, is a great opportunity. "You can buy properties for a lot less than you would think in America (for example, properties for just $40,000 US in New York State), and manufacture huge growth/equity by knowing what to buy and where to buy," Dymphna wrote in a press release in 2006."

So much for her wondeful predictions, I may turn up after all and ask about how her NY properties she bought in 05/06 are doing

 

[Ausprop]

Hi PB
lets get real D Boholt is highly successful entrepreneur, accountant, business woman, economist, multi-millionaire best selling author.

I am not surprised people pay for her service. Don't know too many who can boast these credentials.

Cheers, MTR

I reckon her name is pure gold

 

[Player]

had a listen to the mp3 handyandy linked to.

if I buy a US house with a US rental yield of 20% when the exchange rate is .50c, what's my yield?

if I buy a US house with a US rental yield of 20% when the exchange rate is $1, what's my yield?

Ideally it would be optimal to purchase US property when parity (or near enough to) exists b/w our currency and theirs.

Rental yield will be bilateral 20 % when x rate is $1.....fingers would then be crossed for our dollar to drop (as it most likely eventually do) to give greater equity position by way of currency move....or actual dollars if one were to sell, however it is the rental yield that improves when our dollar drops as we are importing greater rent dollars into Aus.

Timing can obviously play a large part with this type of investing

 

[Perp]

if I buy a US house with a US rental yield of 20% when the exchange rate is .50c, what's my yield?

if I buy a US house with a US rental yield of 20% when the exchange rate is $1, what's my yield?

If you buy with 100% non-recourse finance in US$, it's infinite in both cases.

REPORTER: She [Ms Boholt ] now owns more than 60 properties all around Australia." (emphasis added)

The fact was, as affirmed in a declaration made by the primary judge, Ms Boholt did not own in excess of 60 properties at the time the representation was made.

The fact that she'd sold some down and dropped below 60 at that time doesn't make an enormous difference to me.

Sandy Forster is a different kettle of fish; I do think she's a total poser and I think Dymphna does herself a disservice associating her name with Sandy.

Jenman wrote December 4th 2007:
http://www.jenman.com.au/news_item.php?id=397

"For several years, Dymphna has been spruiking property in America. She tells Aussie investors that they can get "phenomenal returns" and that "returns of 20 - 30 % are not uncommon"."

"Buying in the USA, according to Dymphna, is a great opportunity. "You can buy properties for a lot less than you would think in America (for example, properties for just $40,000 US in New York State), and manufacture huge growth/equity by knowing what to buy and where to buy," Dymphna wrote in a press release in 2006."

So much for her wondeful predictions, I may turn up after all and ask about how her NY properties she bought in 05/06 are doing

Yep, recommending investing in NY state was a mistake. I thought so at the time, and hence didn't do it. Dymphna was devastated at how badly things went for some of her students in NY state; she had made poor choices of local partners, IMHO. Having said that, those who were able to ride it out - and I know several, personally - are mostly doing OK now. (ie they have tenants, they have positive cashflow, and the property's worth at least what they paid for it.)

I think that Dymphna is a bit too trusting, and has allied herself with some questionable people at times. But I remain convinced that Dymphna herself is the real deal. If you don't think so, that's OK; in my opinion, you're the one missing out!

I note that I frequently get kudos for sharing something that I learned from Dymphna, from people who attack her.

 

[Token Funder]

Hi PB
lets get real D Boholt is highly successful entrepreneur, accountant, business woman, economist, multi-millionaire best selling author.

I am not surprised people pay for her service. Don't know too many who can boast these credentials.

Cheers, MTR

Please tell me you're taking the pi$$

 

[WinstonWolfe]

Ideally it would be optimal to purchase US property when parity (or near enough to) exists b/w our currency and theirs.

Rental yield will be bilateral 20 % when x rate is $1.....fingers would then be crossed for our dollar to drop (as it most likely eventually do) to give greater equity position by way of currency move....or actual dollars if one were to sell, however it is the rental yield that improves when our dollar drops as we are importing greater rent dollars into Aus.

Timing can obviously play a large part with this type of investing

Player, Jon Giaan makes a point that yield must have been better when the exchange rate was lower. (at 8mins into the audio at this link ) DB responds "That's exactly right".

Exact transcript
JG: on the flip side though when the yields over there, bringing them back into Australia was attractive at 48 [USD:AUD]

DB: that's exactly right.



That irked me because whether the exchange rate is 50c or $1 when you buy a house yielding 20%, your return is 20% in both cases. Yes your purchase price and yield in AUD is different, but both are 20% yields in AUD.

Now what happens if the AUD moves from 50c to $1 after purchasing?
Your AUD asset value goes down, and AUD yield goes down.
i.e.
the 100,000usd house you paid 200,000aud for is now worth 100,000aud.
your 20,000usd (40,000aud) yield is now worth 20,000aud.
Not so happy......so the capital gain and rental yield want to be moving up big time in USD to counter the fx effect.

And what happens if the AUD moves from $1 to 50c after buying.
Bingo, asset value and yield doubles....
your 100,000usd house you paid 100,000aud for is now worth 200,000aud.
your 20,000usd (20,000aud) yield is now worth 40,000aud.

Anyway, I think Dymphna needs to communicate fx risk more clearly.

If you buy with 100% non-recourse finance in US$, it's infinite in both cases.

Now that's a different kettle of fish.....and if income quarantining is used to exploit fx movements, then sounds like an interesting way to leverage into currency trading. But I'd want to understand the forces that push currencies around very very well......a lot better than Jon Giaan after he interviewed DB.

 

[Player]

Thanks Winston,

That's what I was saying. It's only that latter scenario you allude to in your post above that is the attractive one. Timing can play a role and possibly the timing is opportune at present. I certainly wouldn't be entertaining this back at 50 or even 60 cents. That is risk I cannot buffer for.

As Ozperp also mentioned there are other ways to hedge regardless of what currency does. More complex and not as simple to achieve (perhaps not initially) however can be done.

I don't listen too much too much to the said promoter Mr Giaan. I have heard her speak once before, last year, and am looking forward to learning something I am unfamiliar with and may or may not do anything about as far as US.

It also appears that a good social time shall be had by our brethren here from SS that are going along.

 

[beachgurl]

I've just spent the last 2 days at a catch-up with Dymphna and there were a lot of people there very excited by next week's US conference. I spoke to a woman that has 8 properties over there and she explained the good and bad experiences she had so far. If cash flow is what you are after, then that's a given as soon as the tenant walks through the door, but word is that prices and demand aren't going up in a hurry so would be difficult to offload in the short term.

 

[MTR]

I've just spent the last 2 days at a catch-up with Dymphna and there were a lot of people there very excited by next week's US conference. I spoke to a woman that has 8 properties over there and she explained the good and bad experiences she had so far. If cash flow is what you are after, then that's a given as soon as the tenant walks through the door, but word is that prices and demand aren't going up in a hurry so would be difficult to offload in the short term.

I am not interested in purchasing in the US market as you mentioned try offloading and no finance available, don't like that at all.

I would rather invest in Oz pockets which are rising, easy money and all borrowed funds.

Cheers, MTR

 

[MTR]

Please tell me you're taking the pi$$

So does this mean your not going to the seminar.....

 

[Perp]

I'm just waiting to hear what the start and finish times are each day (anybody know?), then I'll organise a Saturday breakfast - for Somersofters going to the seminar who want to meet up - and a Saturday night dinner, for more leisurely "get to know you" time, and which would also be open to Sydney SSers who aren't going to the seminar.

Let me know if you know the start/finish times, or if you have venue suggestions, otherwise I'll continue my research...

 

[sash]

Based on previous seminars, start time is 9am on Sat with 8-9am registration.

The finish time on Sat. is likely to be 6pm....but in reality it is likely to go to 6:30pm - 6:45pm.

I'm just waiting to hear what the start and finish times are each day (anybody know?), then I'll organise a Saturday breakfast - for Somersofters going to the seminar who want to meet up - and a Saturday night dinner, for more leisurely "get to know you" time, and which would also be open to Sydney SSers who aren't going to the seminar.

Let me know if you know the start/finish times, or if you have venue suggestions, otherwise I'll continue my research...

 

[handyandy]

I'm just waiting to hear what the start and finish times are each day (anybody know?), then I'll organise a Saturday breakfast - for Somersofters going to the seminar who want to meet up - and a Saturday night dinner, for more leisurely "get to know you" time, and which would also be open to Sydney SSers who aren't going to the seminar.

Let me know if you know the start/finish times, or if you have venue suggestions, otherwise I'll continue my research...

This is from my confirmation email.

DAY ONE:
Saturday 6th February 2010
8.30am - Registration
9.00am – Seminar Commence
6.00pm – Conclusion (Approx.*)
DAY TWO:
Sunday 7th February 2010
9.00am – Seminar Commence
5.00pm – Conclusion (Approx.*)


Count me in for a breakfast, unfortunately can't make dinner as have a previous engagement.

Cheers

 

[Piston Broke]

there are ppl that invest in the US on this forum, why not hire a room and offer them a few $$ to speak & answer questions without the sugar coated marketeering.

For me it's easy, I'll just call a few people I know over there and ask them what's going on.

 

[Highlygeared]

Couldnt make the seminar due to work. Anyone who went care to summarise the salient points (please)?

 

[handyandy]

there are ppl that invest in the US on this forum, why not hire a room and offer them a few $$ to speak & answer questions without the sugar coated marketeering.

This is exactly what will happen - as hopefully the brekky meetup happens and US discussions amongst others will ensue. No room, just a cafe table somewhere in Darling Harbour.

Care to come along?

Cheer

 

[Piston Broke]

That does'nt seem to leave much time for discussions

 

[MTR]

there are ppl that invest in the US on this forum, why not hire a room and offer them a few $$ to speak & answer questions without the sugar coated marketeering.

For me it's easy, I'll just call a few people I know over there and ask them what's going on.

Maybe you should go ahead and do this, probably scare the hell out of you.

I am waiting for the ***** to hit the fan. Unfortunately I am expecting many investors to get burnt badly.

US market a different beast.

Don't buy near universities, simply cos it's common knowledge that uni students in various US states count on about 7 months free rent, shame if you are the landlord.

 

[WinstonWolfe]

Had a chat yesterday with a mate in Las Vegas who has 20+ houses.

He thinks LV will have an ongoing weak economy for years, though due to the cheap houses and warm climate, retirees still target the area.

Texas (Dallas, San Antonio, Houston), Georgia (Atlanta), and South Carolina, are still benefiting from population and manufacturing drift from the snow belt.
California is unaffordable for many, especially retirees.

When I have asked him in the past, if houses are so cheap and it is cheaper to buy than rent, why locals don't buy, he says many banks have a minimum limit on how much they will lend, 60k in some areas.

He also reckons it is becoming more common for local investment syndicates to buy houses in bulk.