John Fitzgerald's "7 Steps to Accelerated Wealth"
- Thread starter ArJay
- Start date
I also went to the Melbourne seminar last night, i thought the first hour was good and he's an excellent speaker.
The 2nd part he put the hard sell on a little but it's to be expected i suppose. I've just started 7 steps to wealth after meaning to get around to it for a few years, seems like a good read so far.
The 2nd part he put the hard sell on a little but it's to be expected i suppose. I've just started 7 steps to wealth after meaning to get around to it for a few years, seems like a good read so far.
can someone let me know please.. what properties are recommended? Are they only new properties that havn't been built or are they just particular areas which are high growth areas?
Im quite skeptical after some of these posts. i dont know what to think, but ill go anyways next thursday and see
Im quite skeptical after some of these posts. i dont know what to think, but ill go anyways next thursday and see
Very clever marketing in my opinion.
I attended one of his seminars about a year ago. Good useful information for budding property investors - covers all the basics but he tends to push his charity a bit too much.
One interesting question that was addressed on the night: How do you tackle high interest rates? John's reply was to fix them at 9% for as long as possible so that at least you know what your maximum commitment is.
I opted for variable and will fix them when that drop to 5% next year while all the faithful are locked in at 9% forever
Cheers,
Bazza
One interesting question that was addressed on the night: How do you tackle high interest rates? John's reply was to fix them at 9% for as long as possible so that at least you know what your maximum commitment is.
I opted for variable and will fix them when that drop to 5% next year while all the faithful are locked in at 9% forever
Cheers,
Bazza
Tash,
The strategy John employs is brand new properties in high quality suburbs not much more than 40km from the CBD. He likes houses and the land content (percentage of purchase price) must be 40%+. He believes a property should be cf+ within 12 months. I believe his company source or sell these types of properties.
Bazza,
One thing John said re interest rates is that if he can find interest rates somewhere below 6% he will be locking them in for 10 years.
Rick, thanks also what he said, at the presentation I attended, about high interest rates.
Cheers,
Bazza
Obviously the Sydney or Melbourne markets are very different from Brisbane. "not much more than 40km from the CBD" would be out the far side of Ipswich.
Sounds like he's changed his tune slightly; his books refer to 30% land value content, but he's now upped it to 40%.
It's still short of the 70-80% one can obtain from good value established homes.
I also wonder about the expression 'high quality suburbs'. Are you sure that's not just a euphemism for 'expensive' - ie house & land packages for $350k when established homes in an older nearby suburb might only cost $200-250k and have better land content?
Peter
did u sign up? If not why? Did u feel confident enough to do it yourself?
yeah im keen to see what they say at the appointment....
And where is that guy.. someone said they were ripped off.
So they make their money through a % of the property when sold or what exactly?? what % exactly
Tash,
I'm not exactly sure how they make their money, but my assumption would be:
John basically said they were a one stop shop, as in they organise the property, finance, conveyancing, property management, etc. So i figure the properties they source would make them some sort of commission, then all the added benefits of providing all the additional services.
I'd be interested to know how your meeting with the consultant goes Tash, I decided not to make an appointment as I prefer to be in control of everything myself and pick my properties and advisers independently, however I still wouldn't mind hearing what they have to say.
Similar threads
