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

[Perp]

I'll send Player an SMS; Lobby Lounge, 7:30am.

Unfortunately I am totally overwhelmed and have made the very difficult decision to stay home and sort out some issues here. I'm extremely disappointed, but hopeful that here'll be another opportunity to 1) hear the seminar (DVD perhaps?), and 2) meet y'all.

Can't wait to hear all about it.

 

[sash]

Thanks Andy for organising this... see you there.

Will have some oatmeal porridge at home before I go...just in case.

I will be parking at where I work a King Street Wharf...so the casino is just a short walk away.

Damn browser crashed have to retype whole post

Spent couple of hours today scouting around.

Trophies foodcourt is out as not open after all - now closes for 3 hours between 6AM and 9 AM. Thought we could then at least use the facility and just get coffee's from the bar area but its inside the Casino and as such you can't take bags (apart from hand bags). As most people will have back packs our carryalls of a sort we better count this out.

Outside the Casino the places are relatively small and 'character filled' with the overrider of not starting till 8AM or later unless we start wandering further afield.

The alternative I can suggest is that we skip the idea of a sit down breakfast and meet up in the LobbyLounge cafe for coffee.

http://www.starcity.com.au/Bars__To...V4T4MACWCETJN9K6B1T6N38T47&analyticsLink=Left

They don't actually serve food until after 9AM but we can order coffees and they have very comfortable lounges to sit on. (snooze!!!! so early)

The bag restriction doesn't apply as outside of the casino proper. More so the Grand Ballroom, our venue is just an elevator ride away from here.

So if everybody is happy to meet for coffee (with maybe some croisants ) then this would be the place at 7:30 ish. Gives us 1 hour prior to registration.

Re parking its $17 per 6 hours so if you are there for 10 hours then thats going to be $34.

Cheers

Ps there will be some 1000 people attending so its going to be a crowded registration.

 

[Dazz]

Re parking its $17 per 6 hours so if you are there for 10 hours then thats going to be $34.

Kaching !! I wonder who owns the carpark.

 

[Piston Broke]

Kaching !! I wonder who owns the carpark.

That's cheap by Sydney standards.
Those Melbournites bought their bloody weather with them!

Could'nt do the morning, maybe Sun avo if anythin is on.
Hope y'all had fun.

 

[MTR]

Hi Guys and Gals
can you give me an update how it all went, and perhaps a brief overview if possible.

Cheers, MTR

 

[Humphrey]

Just giving this a bump. I'd be interested to hear what people thought of the seminar and also what they learned.

 

[sash]

What did I learn at the seminar???

I learnt that the investing in the USA is quite complex and expensive for the following reasons:

1. Need to establish a credit history to borrow money via a FICO score.
Can buy by vendor finance...but if credit is hard I can't see the property market take off.

2. If you pay for Dymphna to handhold you it will cost 8k plus travel expenses.

3. Complex structures required.

4. No landlord's insurance and have heard insurance companies will only offer cover to the extent of the purchase price.

5. Can buy for 45-60k in Dallas, Birmingham, Indianapolis, Kansas City...

6. Need to rely on people over there....most PM service in USA is crap.

7. Profit is not great...cashflow is great though


I can make as much or more in OZ with much less risk and effort. To her credit Dymphna as honest enought to say it is not everyone.

Got bored off my brain by day two.

Nice to catch-up with Handyandy, Player, Karina, Roopam.....

Let me know if there are any further questions.

 

[james_w]

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.




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.

Problem is no one can guarantee the fx rate commonsense tells us the if the AUD goes to $1for$1 with the USD then it must come down the powers that be wont let our dollar get higher then the super power also $1 down to 50cents isnt going to happen overnight without a war etc currency only moves x amount of points and has done for many years.

 

[Piston Broke]

4. No landlord's insurance and have heard insurance companies will only offer cover to the extent of the purchase price.
5. Can buy for 45-60k in Dallas, Birmingham, Indianapolis, Kansas City...
6. Need to rely on people over there....most PM service in USA is crap.
7. Profit is not great...cashflow is great though

Spoke to someone who lives in Dallas a few days ago (wat a coincidence).
Their version was:
1. You have to spend >60k to get reasonable location & tenants, preferably ~80-90k.
2. You can get insurance to cover LL problems.
3. Unless your local or know the PM it's going to be hard to get anything done first time.
4. You cannot let the tenants do any repair whatsoever, and the smallest repair (aside changing globes) will require the callout, and fees, of a professional.
5. Don't expect much CG, but the returns will be good.
6. Expect no favours, no goodwill actions etc and expect to pay for every single thing no matter how small.
7. If your not a local, related or good friends with some...good luck.

 

[MTR]

What did I learn at the seminar???

I learnt that the investing in the USA is quite complex and expensive for the following reasons:

1. Need to establish a credit history to borrow money via a FICO score.
Can buy by vendor finance...but if credit is hard I can't see the property market take off.

2. If you pay for Dymphna to handhold you it will cost 8k plus travel expenses.

3. Complex structures required.

4. No landlord's insurance and have heard insurance companies will only offer cover to the extent of the purchase price.

5. Can buy for 45-60k in Dallas, Birmingham, Indianapolis, Kansas City...

6. Need to rely on people over there....most PM service in USA is crap.

7. Profit is not great...cashflow is great though


I can make as much or more in OZ with much less risk and effort. To her credit Dymphna as honest enought to say it is not everyone.

Got bored off my brain by day two.

Nice to catch-up with Handyandy, Player, Karina, Roopam.....

Let me know if there are any further questions.

Hi Sash
thanks for the update.

When I first heard about investing in US I got pretty excited but once I sat down and worked it through I came to the same conclusion " I can make as much or more in OZ with much less risk and effort".

Cheers, MTR

 

[WinstonWolfe]

my view is growth will be stunted in the US for yonks, and an Aussie investing in the US is about generating cash flow to service -cf on Aussie properties, or facilitate quicker purchases in Aus.

however, the issue with the US, is it seems like it may never be the passive investment with a reasonable SANF that one would hope.

 

[fATICAN]

Us Properties

Youtube is a 'good source' for checking out U.S. properties...there seems to be lots of houses/units <20k...bargains..but will they rent?
check out the guy called shea in Detroit...
he finds houses/renovates/manages/collects debts etc etc...all the legal stuff is a bit bewildering though...tempting..but I think you really need to go there and be on 'the ground'..
I went to a Dympna seminar last year and was disappointed..she's a whirlwind of questionable facts and wobbly figures, but ultimately..if you don't sign up to her 25 k training..you won't learn much.... like, how she got started in property...buying this and that ...where did she get the money?...how did she get the money??..grey areas..I walked out...good luck if you like her style..

 

[jasonp3]

i would never have a bar of dyphna boholt courses we found them so unprofessional

i would never have anything to do with Dyphna Boholt as her staff and set up seems to be totally unprofessional . A friend called asking a simple question to when they had last updated their course and she kept being told repetitively to call a different number each time she called the numbers they gave her. Noone could answer the very simple question and they wouldnt leave a message on her answering machine they just kept harrassing her calling and telling her to call other numbers or to keep calling them again and again instead of just giving her the simple answer. She was so drained she was left in tears after a dozen or more attempts. They were obviously trying to hardsell her into doing the $5000 course so no matter how crazy it was to tell her to keep calling other numbers or keep calling again and again they just kept doing that rather than simply leaving the simple answer on her answering machine. We've done various courses and groups and will never have a bar of such a harrassing taunting and unprofessional group.

 

[Parko]

The PP above I agree, I signed up to her Platinum program last year and sadly it has not lived up to all the hype she said it would. Whilst her boot camps are informative, she is busy plugging her loans people (franchise owned by her) and her lawyers (again, hers) I paid $25K, yes you read right, for what I was promised would be 'brain storming' exercises and dealing with the people she deals with.... well there's not a lot of either. She tacks these 2 day private sessions onto other seminars and she looks exhausted, especially if its after a Boot Camp. I'm told she puts them together the week before, her priority and money maker is the Boot Camp people. Admittedly they are half reasonable and there is definitely merit but people, that's where it stops.... she has some of these poor 'students' buying up big on the mere mention of a town, namely mining.... I know of half a dozen or so that are now struggling with vacant properties and have done for weeks.... these people are really hurting. These aren't cheap properties either, most prices are double that of their own PPR and at her instance, fixed interest loans, so they're never going to own them.... crazy right?! yet they line up, fight for a spot to see and hear where the next hot spot is.... anyone else experienced this? keen to hear from anyone else that's caught up in this scam...

 

[Rockstar]

Not saying that she is an ethical operator or not - as I wouldn't know, but there can be an unhealthy attraction between the devious spruiker and the vunerable investor. Both will suffer from their actions. Fortunately, some wise up and take their future into their own hands rather than depending on a guru to make them rich.

 

[matto_]

I have been listening to her free podcasts and really enjoyed them.

A lot of information I knew but I got some extra thoughts and ideas.

25k is a lot of brainstorming.