John Fitzgerald's "7 Steps to Accelerated Wealth"

JLF's 7 steps to wealth was also the kick in the pants for me, i was called and emailed to attend his seminar in Perth recently but after reading some things on other forums regarding him and looking at his website and various "arms" of involvement thought better of it. Although that being said i will admit the man is certainly knowledgeable and successful.

Personally i found John Burleys "Money secrets of the rich" alot more beneficial and inspiring. Would love to attend one of his boot camps in Phoenix Arizone, has anyone been?
 
Care to enlighten us in any way on that??
In a recent casual get-together of industry types, JLF was the common link in a number of scenarios that were associated with a degree of unpleasantness.

Best avoided as, frankly, is any outfit that is a one-stop shop.
 
CWB client since 2000 - How '7 steps to wealth' changed our lives!

JLF has changed our lives! We have read his book and acted upon it in 2000. Bought 9 properties through his company and 4 privately to-date. No one has a crystal ball about any investment class and its performance and times have certainly changed (we were lucky for investing in the last 10 years).
Never, ever, are you pressured to buy, we actually passed on quite few. You receive invaluable education through his seminars. Of couser he's biased, that's his business, so are all other specialists out there in their professions. His commissions and fees are all disclosed. His client base is around 3000+. No one can grow such a business on lies or dishonesty. We were novices and since then we learnt a lot through CWB and other education, books, etc...
In our opinion he's the most integral person we know. Does that mean that all the investments are smooth sailing, of course not, life and situations are always unpredictable. So for those that can invest themselves, then do it but for novices like us, we had to start somewhere... Thank you John for enriching our lives.
Some people may be angry and expect miracles, he has a proven system, which works, if you follow it and stay committed to the end. Property is not a get rich quick investment for most ordinary families like ours and there are many different ways/strategies investing in property. CWB worked for us, thats's all!
 
Question?

I was just wandering about all those negative replies out there about CWB? How many of you have actually invested and acted and bought properties since you learned it from somewhere (books, seminars, etc...).
Our family has in 2000 after reading John's book, even though I read Jan Sommers many years before.
Now, we are most educated investors, not just about property, thanks to one man John F. It's great to advise others once you have the knowledge, right? BUT, were is one to start, reading books, attending seminars, etc... will not make you a property investor until you START acting upon it, right?
I think the internet can be a dangerous thing, were people suddenly belief rumours rather than investigate the facts for themsleves.
I agree, knowledge is the key, but John's motto for success is: ‘Success is
being positive, taking responsibility and being proactive.’ So before you pass your comments, how about checking out the facts....
It's like taking advice from people without any children, on how to be a great parent.
 
I've never used an investment assistance company, and currently own 8 properties (and have a six figure shares portfolio also).

Personally I'd rather go it alone than be told what to do. There are plenty of books and lots of online material to get you started.

I don't have an opinion about the company referred to here, having never used them. I read the book some years ago, though, but it's not a strategy that suits me.
 
Johns book was advertised on tv free with a $30 talk so i went as it looked interesting. Thats what got me into realising how important it is to build wealth and how to do it.

he does have some stipulations of how he does it though
he prefers the newer houses after 19 84 or so for more depreciation
and he talks of negative geared in his book only i beleive
but otherwise it was a clear book
a great talk
and it was my first step in a journey or learning so i'm very grateful for his basic clear easy to read book and talk .

i dont know more aobu this company or mentorship

i do remember at the time he'd bought up lots of perth properties for his clients to grab a bargain that would have huge imminent growth, so he does that too.

I havent read the full thread just saw this about him and his book so wanted to comment as my experience was fabulous though basic.
 
I've never used an investment assistance company, and currently own 8 properties (and have a six figure shares portfolio also).

Personally I'd rather go it alone than be told what to do. There are plenty of books and lots of online material to get you started.

I don't have an opinion about the company referred to here, having never used them. I read the book some years ago, though, but it's not a strategy that suits me.
Only some books and there was no online material 11 years ago in yr2000 when we started. So I was just pointing out that in our case that was the start for us. It was actually upon reading a book '7 Steps to Wealth' and 'Rich Dad Poor Dad' that we decided to start educating overselves on investing and have read 100+ books. So, for the past few years we had done some alone investments too....
(9 properties through CWB 4 individually, X figure cash portfolio after selling shares in June 2011 - will re-enter once market is undervalued, some shares still, X figure physical gold/silver porfolio, run owr own SMFS, tried few businesses too...I think you get the picture).
I think that's great that others can just do it from the abundant available material now, we do that too, but for other 'plain folks out there' they may need the company to start somewhere like we needed to, don't you think?
 
$100,000 buy back

I see JLF/custodian are offering a guaranteed, 4 year, $100,000 profit from John. If you buy before decemember. He has a guarantee to buy your property back for $100,000 profit after 4 years. Dont no full details as wasnt to interested in the email i received.
 
No such offer as I was there!

I see JLF/custodian are offering a guaranteed, 4 year, $100,000 profit from John. If you buy before decemember. He has a guarantee to buy your property back for $100,000 profit after 4 years. Dont no full details as wasnt to interested in the email i received.
I am a Custodian since year 2000 and I attend all yearly summits. I was there, were you? It was a great insprational night learning about China's impact, economy, demographics, tax strategies, valuations, motivation, etc...
Yes, the offer came about but I think it's slightly different to what you suggest (I never heard a $ profit). Instead a guarantee to buy at fixed 5.99%for next 3 years, and if you wish you can then sell back with 10% plus original purchase value.
Unless you are talking about Custodian Land (that's where you basically lend finance for his development projects and get a return - only past estates and % were reported).
But do you know what the greatest moment of the seminar was for me? A question, "What do you do everyday to make yourself successful?".....
 
But do you know what the greatest moment of the seminar was for me? A question, "What do you do everyday to make yourself successful?".....
I'm interested, do you have the answer that was given to the question or was the question the whole point.

I've only seen John speak once, just recently, and thought the information night / briefing was excellent.
 
I am a Custodian since year 2000 and I attend all yearly summits. I was there, were you? It was a great insprational night learning about China's impact, economy, demographics, tax strategies, valuations, motivation, etc...
Yes, the offer came about but I think it's slightly different to what you suggest (I never heard a $ profit). Instead a guarantee to buy at fixed 5.99%for next 3 years, and if you wish you can then sell back with 10% plus original purchase value.
Unless you are talking about Custodian Land (that's where you basically lend finance for his development projects and get a return - only past estates and % were reported).
But do you know what the greatest moment of the seminar was for me? A question, "What do you do everyday to make yourself successful?".....
Nope I was not there and not talking about custodian land. As I did mentioned I only received an email about the offer and didn't look into the details:

Now remember, the offer is for a GUARANTEED $100,000 profit on any Queensland property purchase before October 14. This means that all contracts signed prior to October 14 will include a "put option" for John to buy back the property from you in 4 years for $100,000 more than what you paid for it.

He has instructed us that this is the last time he will ever offer this.

So if you are looking to buy property in the next 12 months, this is an offer to good to pass up. Many Custodian's took advantage of the offer in September. REMEMBER, it's a guaranteed buy back from John of $100,000 above your purchase price. This offer, combined with the State Government $10,000 Rebate makes buying property NOW a "no brainer"
 
Hi everyone,

I have read his 7 steps to wealth book and found it very easy reading and informative. I like his ideas. He wouldn't like me though, I have two units.

I am actually thinking of going to one of his seminars in Sydney next month but I am a bit hesitant as he is not speaking on the night I would be available. A chap by the name of Michael Quinn is the speaker.

For those of you who have been to these seminars, is it a major drawback if the main guy is not talking???

To attend the seminar they are giving me a free copy of the accelerated book after I told them I already have the first book which I thought was a nice gesture.

Joining his group is another thing, I would prefer to go it alone doing my own research etc. Take bits and pieces from other investors and build them into yourself.
 
You provide your answer....

I'm interested, do you have the answer that was given to the question or was the question the whole point.

I've only seen John speak once, just recently, and thought the information night / briefing was excellent.
The question was the whole point, you provide your own answer. John has this unique way of motivating people like me to continue....
I do not attend the information nights but rather the yearly summits, where a lot of other information is presented. That's one of the great benefits when you become a Custodian, you get presented with wealth of information. Information nights are just that, outlining his model and strategy, but since I attended one long ago (10 years or so) and read his books, then I am not sure if they are the same....His book explains the strategy too.
I will give you one more statistic. Apparantly approx. 240 millionaires (in equity growth) were created by CWB since year 2000 (representing only 10% of clients back then). What happened to the rest 90%? Well, they did not continue to follow the model to repeat and reinvest. I am sure some had legitimate reasons (divorces, businesses ventures, own startegies, perhaps investing in shares, starting a family, own developments, and so on and on and on...).
In my opinion it's like that in the world today, most leaders want to lead and not follow because they know better, so I hope at least they continue to invest with their own proven strategy.
 
JLF in CWB sees only positives......

Hi everyone,

I have read his 7 steps to wealth book and found it very easy reading and informative. I like his ideas. He wouldn't like me though, I have two units.

I am actually thinking of going to one of his seminars in Sydney next month but I am a bit hesitant as he is not speaking on the night I would be available. A chap by the name of Michael Quinn is the speaker.

For those of you who have been to these seminars, is it a major drawback if the main guy is not talking???

To attend the seminar they are giving me a free copy of the accelerated book after I told them I already have the first book which I thought was a nice gesture.

Joining his group is another thing, I would prefer to go it alone doing my own research etc. Take bits and pieces from other investors and build them into yourself.
Dad and nan,
Not true that he wouldn't like you.... Other members have their own investments either prior, during, or after his presented strategy.
I bought first through CWB but have also 4 properties purchased by myself throughout the 10 year investment period.
The issue with units there is that John's strategy, as pointed out by his book, likes the land component to be more that 10% (at least 30%) as he believes land appreciates and buildings depreciate. I personally like other fators such as lower costs and total control of houses as in comparisons to units (strata, levies, etc...). However, if I owned 50% or more share in a complex of units, townhouses than I wouldn't mind (eg. 4/8 units) as I would have the control.
It's just a personal choice and strategy....so please all unit investors don't be offended. I know this may not hold true in well located areas, and I know that Michael Yardney mentioned that for last 12 years has been buying only units in Sydney (but that is his strategy and he renovates to add value).
Anyway, good luck and keep on investing, and perhaps you can share your results after 10 years. Just don't be stuck on 2 investments, where most investors in Australia are today (there's a related topic on 0.9% statistic that hold 6+ properties and majority 1 or 2).
 
The question was the whole point, you provide your own answer. John has this unique way of motivating people like me to continue....
I do not attend the information nights but rather the yearly summits, where a lot of other information is presented. That's one of the great benefits when you become a Custodian, you get presented with wealth of information. Information nights are just that, outlining his model and strategy, but since I attended one long ago (10 years or so) and read his books, then I am not sure if they are the same....His book explains the strategy too.
I will give you one more statistic. Apparantly approx. 240 millionaires (in equity growth) were created by CWB since year 2000 (representing only 10% of clients back then). What happened to the rest 90%? Well, they did not continue to follow the model to repeat and reinvest. I am sure some had legitimate reasons (divorces, businesses ventures, own startegies, perhaps investing in shares, starting a family, own developments, and so on and on and on...).
In my opinion it's like that in the world today, most leaders want to lead and not follow because they know better, so I hope at least they continue to invest with their own proven strategy.
There's a good chance many of the 90% also became millionaires since 2000. Heck, many non investors became millionaires in that time ;).

And if the service (when staying on) is so great why so few millionaires?

Just curious, isn't Custodian a one stop shop outfit that sell their own new builds at inflated prices in new outer suburban housing developments - often not known for the best capital gains or yield compared to other established areas?

If this is the case then perhaps the investors that came along realised there was much better value in doing their 'own' investing.
 
The issue with units there is that John's strategy, as pointed out by his book, likes the land component to be more that 10% (at least 30%) as he believes land appreciates and buildings depreciate.
That's what I find odd about JLF's approach.

If you truly believe that land appreciates and buildings depreciate, then buying something with 30% land component (ie 70% building) is a very poor way to do it.

It follows that a land value component of 60% is twice as good while one of 90% would produce 3 times the capital gain.

And properties with 60 - 90% land value component are very common in many areas.

What about the cashflow?

JLF will argue that's where depreciation comes in, and this is highest with new properties (precisely those that have the worst land value components).

But there's also established properties with 60 - 90% land value components (mainly in cheaper outer suburbs) that are new enough to get building depreciation.

If you were following a JLF strategy (as per the 7 steps book) you'd probably be better off buying such an established home with high land component (new enough for depreciation if you must) than get a dearer new place in an inferior location with half the land size and value %.

The above example is why it's better to buy according to the principles in a promoter's book than through their company (where what's offered is what is easiest for them to sell / what earns them most money).

My observation is that spruikers will often write a book early in their career as a means to develop a profile and credibility. The books are often quite good. They may be honestly written at a time when the author was building their own portfolio (and has recent memory of same).

But as they transform to become marketers they lose sight of their origins. The quality of recommendations declines as they match whatever they're trying to flog at the time.

Though we usually expect the quality of advice to improve with a professional's experience, real estate may be one of those areas where the reverse can also happen, especially when their and the customer's interests do not coincide.
 
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So if you are looking to buy property in the next 12 months, this is an offer to good to pass up. Many Custodian's took advantage of the offer in September. REMEMBER, it's a guaranteed buy back from John of $100,000 above your purchase price. This offer, combined with the State Government $10,000 Rebate makes buying property NOW a "no brainer"
Something is fishy here. May be their own bank valuation would come more than 100K hence he doesn't need to buy back!
 
Only some books and there was no online material 11 years ago in yr2000 when we started. So I was just pointing out that in our case that was the start for us. It was actually upon reading a book '7 Steps to Wealth' and 'Rich Dad Poor Dad' that we decided to start educating overselves on investing and have read 100+ books. So, for the past few years we had done some alone investments too....
(9 properties through CWB 4 individually, X figure cash portfolio after selling shares in June 2011 - will re-enter once market is undervalued, some shares still, X figure physical gold/silver porfolio, run owr own SMFS, tried few businesses too...I think you get the picture).
I think that's great that others can just do it from the abundant available material now, we do that too, but for other 'plain folks out there' they may need the company to start somewhere like we needed to, don't you think?
If other folks want to use an investment management company, be my guest. It's just not my choice.

I'm a firm believer that there is no 'one right way' to invest, just different things to suit different people.
 
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