Hi all I am new to property investing and I am thinking of going to an investor direct seminar, has anyone here been and do you think it is worth it.
Thanks
Thanks
Investors Direct Seminar
- Thread starter newtoinvesting
- Start date
hi newtoinvesting
little bit of advice
going to these seminars are great as a learning tool and take along a pad and paper and write down as much as possible.
but remember a very good saying from a real estate a few here know.
don't sign anything.
and that includes signing in if that includes giving email addresses.
these seminars are a wealth of information but are also a net so make sure that you get the information but have a knife to get out of the net.
my .002
little bit of advice
going to these seminars are great as a learning tool and take along a pad and paper and write down as much as possible.
but remember a very good saying from a real estate a few here know.
don't sign anything.
and that includes signing in if that includes giving email addresses.
these seminars are a wealth of information but are also a net so make sure that you get the information but have a knife to get out of the net.
my .002
It amuses me every time I see a quote from Bill Zheng that the amount of money he spends on his financial education creeps up by ~ $100k. That DVD cover states he's spent $600k on his education, which was up from $500k from a newsletter a couple of months ago, which was up from $300k 9 months ago.
I'd be impressed with anyone spending $10k on their financial education, let alone 6 figures.
-- MJ.
I'd be impressed with anyone spending $10k on their financial education, let alone 6 figures.
-- MJ.
I saw Bill speak a couple of years ago and was impressed.
You can gain in many ways from attending events.
You can learn from the presenter
You can network and make new contacts
You can come away motivated by either the presenter, the information or others you have met, and take action you would not have followed through on.
Attitudes to the cost you are willing to pay for your education show much about how you see yourself.
I have spent mid five figures and my only regret was not to have had the chance to do so 30 years earlier, if such information had been available, and I had been ready.
I have friends who have spent 6 figures on their education, and they have more wealth in proportion to the greater learning they have gained.
I however also have friends who have done it on their own, with no need to access the teachings of others. It depends I guess if you are a self starter.
I find it easier to take the ideas of others a adapt them for my own use than to invent the system.
You can gain in many ways from attending events.
You can learn from the presenter
You can network and make new contacts
You can come away motivated by either the presenter, the information or others you have met, and take action you would not have followed through on.
Attitudes to the cost you are willing to pay for your education show much about how you see yourself.
I have spent mid five figures and my only regret was not to have had the chance to do so 30 years earlier, if such information had been available, and I had been ready.
I have friends who have spent 6 figures on their education, and they have more wealth in proportion to the greater learning they have gained.
I however also have friends who have done it on their own, with no need to access the teachings of others. It depends I guess if you are a self starter.
I find it easier to take the ideas of others a adapt them for my own use than to invent the system.
It amuses me every time I see a quote from Bill Zheng that the amount of money he spends on his financial education creeps up by ~ $100k. That DVD cover states he's spent $600k on his education, which was up from $500k from a newsletter a couple of months ago, which was up from $300k 9 months ago.
I'd be impressed with anyone spending $10k on their financial education, let alone 6 figures.
-- MJ.
A couple of Anthony Robbins Seminars would probably add up pretty quicklyAgreed $600k is an enormous amount
We went to a combined Bill Zheng & Michael Yardney workshop last weekend. It was worth going to and we have an appointment with investors direct tomorrow, hopefully we will be able to restructure a couple of loans to avoid us selling a house in order to move forward. There was certainly no hard sell except that they overdid the marketing of their mentor programs even though there was no pressure. We are experienced investors and we found it worthwhile. We did however leave early because we felt that it was getting a little ridiculous in the way Bill was trying to make his point and demonstrating why people needed his mentor program ie throwing 5c pieces around the room and analysing the amount people had likening it property and reasons why people didn't move forward with property and it continued in this same vein making it look like people were quite stupid for the next 10 minutes so we left - it had already gone overtime so we felt there wasn't much left to hear.
Agreed $600k is an enormous amount
That would be because one of his mentors charges him $120k per annum.
(Went to the Bill Zheng/Michael Yardney presentation in Brisbane today...)
-- MJ.
Hmm, I'm not saying these seminars are a waste of money, however I can only state my own personal achievements from not attending ANY costed seminars.
I am 35, own my own house (250K), have no personal debt at all, own 7 other IPs with over 50% equity in the investment portfolio. Houses are worth around the 1.5M mark.
My only costs? About 12 books on IP investing.
So therefore what I am saying is, personally I don't think people "have" to spend all this money on seminars, you CAN do it yourself. That doesn't mean to say all these seminars are bad, just letting you know that you don't have to pay a stack of money to be successful.
Andrew.
I am 35, own my own house (250K), have no personal debt at all, own 7 other IPs with over 50% equity in the investment portfolio. Houses are worth around the 1.5M mark.
My only costs? About 12 books on IP investing.
So therefore what I am saying is, personally I don't think people "have" to spend all this money on seminars, you CAN do it yourself. That doesn't mean to say all these seminars are bad, just letting you know that you don't have to pay a stack of money to be successful.
Andrew.
Hi Andrew,
Would you mind sharing the names of those you found particularly helpful?
Cheers
P
Yep sure,
By Margaret Lomas;
How to make your money last as long as you do
How to create an income for life
How to maximise your property portfolio
Pocket guide to investing in positive cash flow property
The truth about positive cash flow property
By Steve McKnight;
From 0 to 130 properties in 3.5 years
$1,000,000 in property in one year
From 0 to 260+ properties in 7 years
By Jan Somers;
Building wealth - story by story
More wealth from residential property
(and another one which I've lent out and hasnt been returned grrr)
Thats the main ones. 3 different authors, 3 different views, and great to combine the knowledge and wisdom from all 3.
Andrew.
These books are great, I have all of them and many others like them on my bookshelves. They have been passed around and read by many, however, there comes a time when they are not enough. After many yaers of investing you get to a point where you don't find anything new, you could write a book yourself from your experiences. I was starting to lose my spark when I found "It's Easy To Be A Property Millionaire " by Craig Turbull in a bookstore and then followed some links through forums on the internet and bought some more expensive resources through following some linnks from Steve McKnight's forum on renovations and development which have all taken me way beyond the boredom I was starting to experience.
" Ordinary Millionaires" Jim McKnight was another good one and the one I'm about to read again for clarity: "How to Grow a Multi-Million Dollar Property Portfolio in Your Spare Time" by Michael Yardney.
You will need to acknowledge that each author's style is different and that you can't expect to adopt completely any one person's style because you are not them, but it doesn't hurt to take a little from each. As your experience grows and you change, so will your style of investing.
We are just renovating and adjusting our portfolio and we can't believe how our tastes and style have changed over the last 13 years, think about your food and drink tastes change- so do your investment tastes- so will your choice of reading material, if it doesn't you won't grow.
Kate
" Ordinary Millionaires" Jim McKnight was another good one and the one I'm about to read again for clarity: "How to Grow a Multi-Million Dollar Property Portfolio in Your Spare Time" by Michael Yardney.
You will need to acknowledge that each author's style is different and that you can't expect to adopt completely any one person's style because you are not them, but it doesn't hurt to take a little from each. As your experience grows and you change, so will your style of investing.
We are just renovating and adjusting our portfolio and we can't believe how our tastes and style have changed over the last 13 years, think about your food and drink tastes change- so do your investment tastes- so will your choice of reading material, if it doesn't you won't grow.
Kate
We went to Bill senimar then had a one on one with one of his guys re his new mortgage product. Have to say that there was no pressure at all either on the day or afterwards as we sort things out. You could spend $55 on something a lots worse and Investors Direct seem very Ok to us. As suggested here, do your own figures, but we have not experienced any pressure.
It's not an enormous amount if it's 2% of your income.That would be because one of his mentors charges him $120k per annum.
(Went to the Bill Zheng/Michael Yardney presentation in Brisbane today...)
-- MJ.
My education expenses are tracking around 10% of total expenditure over the last 2 years, it's a sink or swim attitude from me, I want to swim.
I have no problem with people running property investing seminars, but the fees they charge are just ridiculous. For example, how much reno kings charge, $2000 per person per day ? When you even have 50 people attending that would be $100K per day ! I am sure you would learn from the seminar with a tip or two. Hey, I find truckload of hints & tips from this forum and it's totally free. I feel those running the seminars make property investing more complicated than it is and make out as if they have some untold secrets.
