Custodian Wealth Builders
- Thread starter l00kin4
- Start date
Hi there,
Generally if you get heaps of positive replies from satisfied forum members, it means the group you are enquiring about is sound.
If you get few or no replies, it could mean that forum members care not to comment, in case their comments are viewed as libelous. (Just my humble opinion)
Interpret this as you might wish.
Regards,
Steve
Generally if you get heaps of positive replies from satisfied forum members, it means the group you are enquiring about is sound.
If you get few or no replies, it could mean that forum members care not to comment, in case their comments are viewed as libelous. (Just my humble opinion)
Interpret this as you might wish.
Regards,
Steve
I'm sure someone posted within the last week that said they worked for John L Fitzgerald(Mr Custodian Wealth Builders) for a short period??? Perhaps they can supply you some additional information?
My observation is that John Fitzgerald certainly appears to have been successful in making a dollar. He appears to have started off at a very young age in Real Estate, got into development, did quite well and started Custodian. Although I have never met John, from what I have read, I would imagine when it comes to sales/marketing he would be very good ie. I get the impression that John would have very few problems selling fridges to eskimos.
This in not necessarily an endorsement or criticism.
John espouses many of the common notions such as "land appreciates, buildings depreciate", "buy something with larger than 30% land content" etc. etc. Keep in mind that Custodian is the marketing arm of John Fitzgerald and one of the main things he does is build lots of houses and sell them, so there may well be some slight bias in some of his comments.
From what I've heard, Custodian seems to be ok for someone wanting their hand held the whole way. ie. find an IP, organise insurances etc etc. and then follow you up regularly to buy another property when you have enough equity. As I said, seems very good in the sales/marketing area. Wouldn't this be a good idea for most Real Estate Agents too?
In summary, I've heard some good and some so-so things about Custodian. Would definitely suggest you talk to as many sources as possible before proceeding.
My observation is that John Fitzgerald certainly appears to have been successful in making a dollar. He appears to have started off at a very young age in Real Estate, got into development, did quite well and started Custodian. Although I have never met John, from what I have read, I would imagine when it comes to sales/marketing he would be very good ie. I get the impression that John would have very few problems selling fridges to eskimos.
This in not necessarily an endorsement or criticism.John espouses many of the common notions such as "land appreciates, buildings depreciate", "buy something with larger than 30% land content" etc. etc. Keep in mind that Custodian is the marketing arm of John Fitzgerald and one of the main things he does is build lots of houses and sell them, so there may well be some slight bias in some of his comments.
From what I've heard, Custodian seems to be ok for someone wanting their hand held the whole way. ie. find an IP, organise insurances etc etc. and then follow you up regularly to buy another property when you have enough equity. As I said, seems very good in the sales/marketing area. Wouldn't this be a good idea for most Real Estate Agents too?
In summary, I've heard some good and some so-so things about Custodian. Would definitely suggest you talk to as many sources as possible before proceeding.
John's seminars are quite persuasive, he doesn't directly tell you he'll be selling his developments but he is basically saying "I KNOW what to buy and where, and i'll build a new property in the right place for you (so you can take full advantage of depreciation) - you buy the property, and my team of wealth builders will keep an eye on you an your portfolio, and keep you motivated until you become 'rich' .. "
That's how I understand it, after attending a $30 seminar I was invited to meet with a Custodian representative to "ask any questions for free" .. which was probably a lead to buy a property.
John basically focuses on some seven basic strategies, and builds that property for you that matches his strategies/principles.
His 'representatives' don't work for free
That's how I understand it, after attending a $30 seminar I was invited to meet with a Custodian representative to "ask any questions for free" .. which was probably a lead to buy a property.
John basically focuses on some seven basic strategies, and builds that property for you that matches his strategies/principles.
His 'representatives' don't work for free
Hi l00kin4
I loved the book! It was the first property investment book I read.
Made an appointment with Custodian and due to my enthusiasm and the high pressure sales tactics, I nearly jumped on a plane to buy one of their properties in Qld.
Thanks to my mum warning me of "Sydney people being ripped off" in the Qld propery market I cancelled at the last minute.
So glad I did.
Researching and finding my first property was very educational and I have achieved so much more than I would have with Custodian.
Cheers,
Crystal
I loved the book! It was the first property investment book I read.
Made an appointment with Custodian and due to my enthusiasm and the high pressure sales tactics, I nearly jumped on a plane to buy one of their properties in Qld.
Thanks to my mum warning me of "Sydney people being ripped off" in the Qld propery market I cancelled at the last minute.
So glad I did.
Researching and finding my first property was very educational and I have achieved so much more than I would have with Custodian.
Cheers,
Crystal
I've done some of John's more advanced courses over the last two years, although I've never actually bought a house from Custodian. I think that John's ability to make money comes from his ability to sell and his ability to add value (he just does it on a larger scale than most). I learnt a lot from his courses, given that I had direct access to John and he works on a completly different level than most people in property investment.
I've also met a lot of people over this time who have bought property from Custodian and I have never meet a person who is unhappy with the result. I personally believe that property investment is something you should do for yourself and not have others do it for you, but I also feel that Custodian is one of the better groups out there trying to sell property. If you do want to go down this path, using Custodian will probably be a positive experience for you.
I've also met a lot of people over this time who have bought property from Custodian and I have never meet a person who is unhappy with the result. I personally believe that property investment is something you should do for yourself and not have others do it for you, but I also feel that Custodian is one of the better groups out there trying to sell property. If you do want to go down this path, using Custodian will probably be a positive experience for you.
Thanks for the responses everybody. Steve, I agree with your points on feedback. geoff, I did search and found some useful info- just thought I'd check for more current experience.
I have read the book, been to the seminar and sat down with Custodian. I can't pick any major holes in their stated strategy but for peace of mind I would want independent confirmation on valuations etc. on each purchase.
On the upside it saves a considerable amount of time whcih suits me but on the downside it does cost money.
I will be buying my first IP shortly and I guess I'd say I feel technically comfortable but there's nothing like real experience. This path seems to make it a little easier if less lucrative but I'm going to do the numbers and make the comparison before any commitment.
I have read the book, been to the seminar and sat down with Custodian. I can't pick any major holes in their stated strategy but for peace of mind I would want independent confirmation on valuations etc. on each purchase.
On the upside it saves a considerable amount of time whcih suits me but on the downside it does cost money.
I will be buying my first IP shortly and I guess I'd say I feel technically comfortable but there's nothing like real experience. This path seems to make it a little easier if less lucrative but I'm going to do the numbers and make the comparison before any commitment.
G'day all,
I went to his seminars many years ago, after reading his book.
I enjoyed his book, and seminars(two).
Twice went to Birkenhead office.But the adviser would not tell where the property locations were until I had a flying inspection of the area. Finally said if i can't get the right imfo. I'm off.
Logan area was his area. buying old houses and vacant land and building on them.
My information at the time, from Brisbane locals, was keep well and truly away from that place. It's Sydney's Mount Druitt.
Never did any business with them.
A fellow work employee bought two houses in one of the Logan areas approx. three months ago.
Three weeks into the rent his tenant did a "runner".
Bruce G.
I went to his seminars many years ago, after reading his book.
I enjoyed his book, and seminars(two).
Twice went to Birkenhead office.But the adviser would not tell where the property locations were until I had a flying inspection of the area. Finally said if i can't get the right imfo. I'm off.
Logan area was his area. buying old houses and vacant land and building on them.
My information at the time, from Brisbane locals, was keep well and truly away from that place. It's Sydney's Mount Druitt.
Never did any business with them.
A fellow work employee bought two houses in one of the Logan areas approx. three months ago.
Three weeks into the rent his tenant did a "runner".
Bruce G.
QUOTE]And where does your astute Mother choose to invest? [/QUOTE]
Hi Duncan,
My mother doesn't invest in property!!!
But that one piece of (probably ill informed) advice meant that I purchased in an area closer to home which enabled me to add value and buy more IPs sooner.
Cheers,
Crystal
Hi Duncan,
My mother doesn't invest in property!!!
But that one piece of (probably ill informed) advice meant that I purchased in an area closer to home which enabled me to add value and buy more IPs sooner.
Cheers,
Crystal
Custodian
Hi All
I first read John Fitzgerald's "Seven Steps To Wealth"early 1999.
I went to one of his seminars mid 1999.
I flew to Qld end 1999. Did heaps of research into property situation and saw first hand what was on offer from everybody who were offering packages for sale.After being satisfied with the
homework I contacted Custodian and purchased one of their packages at Wynnum West. 3 brm Bv 493m2 $171,000.
I took possession of completed package end of 2000.
I have just had it valued for refinancing to subdivide property here in Melb. Bank valuation in early 2003 $240,000.
This was my first step to wealth creation and I have JLF to thank
for this great start. Do I recommend Custodian? Too right I do, the
help and guidance and after hours support was a great source of comfort and encouragement.
I would confidently recommend Custodian to first investors as the stepping stone to their wealth creation.
Hi All
I first read John Fitzgerald's "Seven Steps To Wealth"early 1999.
I went to one of his seminars mid 1999.
I flew to Qld end 1999. Did heaps of research into property situation and saw first hand what was on offer from everybody who were offering packages for sale.After being satisfied with the
homework I contacted Custodian and purchased one of their packages at Wynnum West. 3 brm Bv 493m2 $171,000.
I took possession of completed package end of 2000.
I have just had it valued for refinancing to subdivide property here in Melb. Bank valuation in early 2003 $240,000.
This was my first step to wealth creation and I have JLF to thank
for this great start. Do I recommend Custodian? Too right I do, the
help and guidance and after hours support was a great source of comfort and encouragement.
I would confidently recommend Custodian to first investors as the stepping stone to their wealth creation.
B
brains
Guest
The way i look at these things if you want it badly enough, you'll get it regardless.
You can go to 150 seminars costing a few thousand and read 400 books and then do nothing.
Or you can read a few books from your library, set up your finance and then get out on the street and buy properties.
Nothing is as good or will make you as good an investor as doing it yourself (mistakes and all)
Nothing will replace self motivation and sheer determination.
You can go to 150 seminars costing a few thousand and read 400 books and then do nothing.
Or you can read a few books from your library, set up your finance and then get out on the street and buy properties.
Nothing is as good or will make you as good an investor as doing it yourself (mistakes and all)
Nothing will replace self motivation and sheer determination.
l00kin4,
If you are really concerned about your own ability to pick good deals, consider whether you have the ability to pick a good deal adviser....
Frankly I find it harder work checking out so-called investment experts than actually locating a good property and purchasing it myself.
Also the quality of the advice available from free and low-cost avenues such as this forum & investor groups such as Freestylers is very high and in my experience means that you can forgo more expensive and less reliable for-profit investment experts (but you still you need to do your own research and make your own decisions).
And if you really feel you need handholding to get that perfect deal, relax - very few people find that their first few deals are perfect. Everyone who invests makes a few mistakes along the way - so long as they aren't terminal, it's all a learning experience!
Cheers,
Aceyducey
If you are really concerned about your own ability to pick good deals, consider whether you have the ability to pick a good deal adviser....
Frankly I find it harder work checking out so-called investment experts than actually locating a good property and purchasing it myself.
Also the quality of the advice available from free and low-cost avenues such as this forum & investor groups such as Freestylers is very high and in my experience means that you can forgo more expensive and less reliable for-profit investment experts (but you still you need to do your own research and make your own decisions).
And if you really feel you need handholding to get that perfect deal, relax - very few people find that their first few deals are perfect. Everyone who invests makes a few mistakes along the way - so long as they aren't terminal, it's all a learning experience!
Cheers,
Aceyducey
I've learned (guess how?) to be very very suspicious of people who are providing advice (via books, seminars, etc) AND who just also happen to be providing/selling/'putting you in touch with' (read getting commission) products that meet that advice.
I've done an evening seminar with JLF - he's impressive, his book is good. I'd be much more wary of buying his product. The evening seminar was followed up by some very smooth talking chappy who came along to my workplace & sat down & wanted to go over my financials... he had zilch experience, zilch IPs himself, and a practised script. And the approach made me feel they might be more than aware (like HK, and don't start me on that one!) of the psych. importance of getting someone to invest time in a potential deal, so it's harder for them to give up that investment and walk away. But I said no, thanks.
Despite this, sometime later I went back & got interested in his weekend seminar (OK, I'm a sucker for learning, but JLF impressed me with his outlook, & I thought there was something to learn), so I signed up for it. But I pulled out at the end of the first evening as it was so unfocussed and so vague and so full of mishymashy feelgood stuff (I have my own spiritual outlook, thanks, I didn't either need or want that one, let alone pay for the 'privilege'!!) and I decided it wasn't going to provide what I wanted. Did I have trouble getting my money back? You betcha I did - it took something like 4 phone calls and 5 faxes from of the increasingly louder 'please give me my money back like you promised' before I eventually extracted it. But do I know 2 other people who did do it and think they got a lot out of it? Yes. (But did they buy from him? No!)
My rule of thumb these days: Anyone who brings you a deal will be making money out of it first. People who save you time are making money (ie, you pay for the time saved).
Someone I know did buy a property of JLF's in Qld - sold it some years later when it was still negatively geared for about the same as they paid for it. Were they happy? No. Do they think it worked? No. Does JLF know how to make money? Absolutely.
Overall, I'd guess the answer to this overall is: maybe, maybe not. You pays your money and takes your choices. It'd be definitely cheaper to do your own research, and buy something yourself, mine tinkit.
I've done an evening seminar with JLF - he's impressive, his book is good. I'd be much more wary of buying his product. The evening seminar was followed up by some very smooth talking chappy who came along to my workplace & sat down & wanted to go over my financials... he had zilch experience, zilch IPs himself, and a practised script. And the approach made me feel they might be more than aware (like HK, and don't start me on that one!) of the psych. importance of getting someone to invest time in a potential deal, so it's harder for them to give up that investment and walk away. But I said no, thanks.
Despite this, sometime later I went back & got interested in his weekend seminar (OK, I'm a sucker for learning, but JLF impressed me with his outlook, & I thought there was something to learn), so I signed up for it. But I pulled out at the end of the first evening as it was so unfocussed and so vague and so full of mishymashy feelgood stuff (I have my own spiritual outlook, thanks, I didn't either need or want that one, let alone pay for the 'privilege'!!) and I decided it wasn't going to provide what I wanted. Did I have trouble getting my money back? You betcha I did - it took something like 4 phone calls and 5 faxes from of the increasingly louder 'please give me my money back like you promised' before I eventually extracted it. But do I know 2 other people who did do it and think they got a lot out of it? Yes. (But did they buy from him? No!)
My rule of thumb these days: Anyone who brings you a deal will be making money out of it first. People who save you time are making money (ie, you pay for the time saved).
Someone I know did buy a property of JLF's in Qld - sold it some years later when it was still negatively geared for about the same as they paid for it. Were they happy? No. Do they think it worked? No. Does JLF know how to make money? Absolutely.
Overall, I'd guess the answer to this overall is: maybe, maybe not. You pays your money and takes your choices. It'd be definitely cheaper to do your own research, and buy something yourself, mine tinkit.
Thanks for all the responses everyone. While I am not lacking confidence in selecting properties (I know I'll make mistakes too) I am time poor. This is my attraction to Custodian.
I know it will cost me money and will also still cost me some time. I'd plan to evaluate each deal independently and as this load increases the value of Custodian's offering decreases.
I just wanted to get a feel of how much I should distrust them (I distrust almost everyone as a general rule!) I'll take a look at the specifics of what is on offer and make an evaluation.
I know it will cost me money and will also still cost me some time. I'd plan to evaluate each deal independently and as this load increases the value of Custodian's offering decreases.
I just wanted to get a feel of how much I should distrust them (I distrust almost everyone as a general rule!) I'll take a look at the specifics of what is on offer and make an evaluation.
Hi all.
Twas me who posted about Custodian.
I came to know them from the book. When I went along to the seminar, Simon tne presenter was a past client. The house he talks about in Bentliegh was purchased from me.
Here's me 20c worth.
Bought a few from them and they are doing very well. Is this a fluke due to the cycle? Dunno.
Their view was that Brissy follows after Melbourne, and it has done so. So far so good.
Custodian does have a vested interest in selling their properties.
However, they do disclose fees and what they charge. Naturally who knows how much they make on the building.
ALso, JLF does a great job with his Toogoolowa School for stray kids.
Whoever you buy from, you pay for the agent/marketer. At least with them, they are not 2 tier.
Eventually, its your choice. If the deal stacks up, then go for it.
I left real estate due to an ethical dilmna, and tried to work for a few groups who claimed to help investors, and was dissapointed. Most of these groups are there to sell to investors. If ther wasn't a need for thier service then they wouldn't exist. Like any job, there were sales targets to be met etc etc, so I left, as I had enough of sales after 8 years.
There may be better ways to invest (I now do reno's), but it depends on what suits you.
Hope this helps,
Sam.
Ps: Never by from someone who doesn't have one!
Twas me who posted about Custodian.
I came to know them from the book. When I went along to the seminar, Simon tne presenter was a past client. The house he talks about in Bentliegh was purchased from me.
Here's me 20c worth.
Bought a few from them and they are doing very well. Is this a fluke due to the cycle? Dunno.
Their view was that Brissy follows after Melbourne, and it has done so. So far so good.
Custodian does have a vested interest in selling their properties.
However, they do disclose fees and what they charge. Naturally who knows how much they make on the building.
ALso, JLF does a great job with his Toogoolowa School for stray kids.
Whoever you buy from, you pay for the agent/marketer. At least with them, they are not 2 tier.
Eventually, its your choice. If the deal stacks up, then go for it.
I left real estate due to an ethical dilmna, and tried to work for a few groups who claimed to help investors, and was dissapointed. Most of these groups are there to sell to investors. If ther wasn't a need for thier service then they wouldn't exist. Like any job, there were sales targets to be met etc etc, so I left, as I had enough of sales after 8 years.
There may be better ways to invest (I now do reno's), but it depends on what suits you.
Hope this helps,
Sam.
Ps: Never by from someone who doesn't have one!
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