John Fitzgerald's "7 Steps to Accelerated Wealth"

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.

The problem I see with these crowds is they provide every step for you to buy one of their properties (most times) and they ain't doing it for free.

You are paying a premium for being a lazy investor, and there is usually a fee or percentage attached to their "bird dog" for you.

The result is you buy an over priced property, which may take many years to catch up to the real market.

Fine if you like to hope for cap growth, but are fixated on the tax incentives they spruik.

JLF may be a better example than most - I read his book and it is a good one, but I'd be very hesitant to buy a property they are selling..
 
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.

I agree, but if it wasn't for him I wouldn't have started. Never do I advocate to invest with his company. All I am saying is that it worked for me and I had learned so much more.
Like a previous caller said you still can use his strategies and do it yourself, but what about the people that cannot do that.
Also, the land he develops now of course differs in location of when he started out. The same way we invest in areas we can afford in or next to suburbs we can afford.
I too invest directly now thanks to all the previous mentors that have passed their knowledge somehow (books, magazines, seminars, etc...).
 
John Fitzerald's first book was about buying new house and land in areas such as Brisbane. He advocated negative gearing and depreciation, a buy and hold strategy and land - no apartments. Nothing new here really.
But what's that I hear? Oh, JLF is a real estate company that can assist me to buy property (at an over-valued price, mind you). How convenient! I'll buy 3 or 4 of these overpriced things on the equity of my house. After all the education tells me to do this to be financially secure.
But wait there's more!!! JLF's CWB will sell you the property while JLF's Investloan provides the finance and valuer. Meanwhile, JLF's lawyer will do the conveyancing and JLF's property management arm will get you a tenant. CWB will also organise some get-togethers to talk drum your wealth (drum up more business)
Can anyone see a problem here?
John is a businessman with:
1. Many vested interests to gain from his "education"
2. an environment where opportunities for collusion are rife
3. a mascot - the school
If any of our governing bodies had any balls the would move to stamp stuff like this out or regulate it more strongly.
John Fitzgerald has probably encouraged many people to invest and has in the recent past made people money on the back of the RE boom but at the end of the day he is lining his own pockets through his many businesses.
The number one lesson is: never outsource your knowledge. Do it yourself.
A good businessman - YES. A "remarkable man" - I for one was nearly burnt and will never join the appreciation club.
Not all property spruikers are ugly and overweight. And what has Jenman's charitable leanings got to do with anything.

So how were you nearly burnt? Can you explain?
Anyway I too found his books remarkable and useful insights into property.
 
Like a previous caller said you still can use his strategies and do it yourself, but what about the people that cannot do that.

Hi MIW

invariably its not because people

CAN NOT

its because left to our own devices, most of us simply

WILL NOT.


The concept of "choose and move" is quite a hard one for most of us busy stressed out humans that spend something like 30 hrs + a week watching tele ?

Marketing and educational enterprises certainly have a place in the REAL world :)

I can see how most people on here cant relate to that, but this aint the REAL world :) we are a cult of positive thinking self motivated achievers most times, and cant bear the thought of having our hands held.



ta

rolf
 
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).

I guess my main question is whether it Michael Quinn who will be speaking is worthwhile going to see as I would prefer it if JF was speaking as he is the main man.
 
Hi David,

I had invested in property very aggressively in my early 20's and then for 10 years or so had "parked". Although having said that, I did reduce debt significantly and with a stack of equity in the wings, John Fitzgerald was also the catalyst for me kick-starting my investing again.....and I've never looked back.

The Australian newspaper ran a negative story on him a couple of months ago and Neil Jenman was one of his critics. Whilst I believe Jenman's heart is in the right place, I am not sure that he has ever met John nor investigated the schools for youth at risk that John has founded and supports (Toogoolawa). Jenman maintains that Fitzgerald gains too much promotional mileage from his charity.

THerefore expect him to feature in "Stiched", but perhaps not for the right reasons. I agree that it does re-hash Success from Scratch and Signposts to Success, however for those new to John's ideas, I still believe his latest book "7 Steps to Accelerated Wealth" is well written (in his matter of fact style) and a very easy read.

I would be interested to hear of others who have read John's books or dealt with him. I have found John Fitzgerald to be an outstanding person.

Yes, he started me onto investing into property in year 2000 by reading '7 Steps to Wealth' and practically changed our family lives (wether people like it or not). I read the other book sometime ago but I am a more passive investor and prefer to spend my life on other interests.
What I find amazing though is that I did not believe him at the start on his strategy and he proved me wrong. I had met him on many occassions as I like his approach on self-development, motivation, goal setting, basically his last approach which is so much deeper about wealth building (not just becoming rich).
I often will attend his seminars for members for those reasons. He makes you think and do what you never thought possible and for that and his integrity I will always be grateful.
Many people don't see that, of course he has vested interest, as property is his business, but so do all other people that specialise in their professions. The difference is that he helped me so what do I care what he makes if I am happy with what I made/make. It's like a friend of mine that said I make all the book authors wealthy and my reply was so what? As long as I learn something and apply that in my life to make it better, why do I care, right?
I plan to add 2 or 4 more properties soon and I try to apply his teachings in my everyday life. His last suggestion was to answer this question? "What am I doing everyday to be successful?" So simple yet so deep....
A truely honest and inspirational man.
 
Hi MIW

invariably its not because people

CAN NOT

its because left to our own devices, most of us simply

WILL NOT.

I can see how most people on here cant relate to that, but this aint the REAL world :) we are a cult of positive thinking self motivated achievers most times, and cant bear the thought of having our hands held.
rolf
You are so clever, so well versed. Obviously I wasn't born a leader but thanks to one my life changed for the better. Remember, there's hope for us folks out there....
 
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.

Yep fully agree , I'm always at a loss as to why even bother with these guys , even though I think I actually asked myself right here about JF a few yrs back, but just curiosity more than anything.

How many old blokes have you met though, know of or heard of over the years that've been collecting houses most of their working life ? For me there's been dozens , none of this stuff's anything new really.
People seem to talk motivation though but then if you need motivating it's just probably not for you I reckon, just find something in life that does float your boat and you'll have all the motivation you need .Not everyone has to be a PI and how far you goes automatically set by interest level and nature anyway in anything.

Cheers
 
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.

Wasn't he the steak knives guy???
 
Wasn't he the steak knives guy???

haha, I don't know.

I have never been to one of these seminars and thought it would be interesting. I might wait until JF does one. It can't hurt to get some ideas. It is like reading a book for information. He has some good ideas.

Not everyone who goes to seminars is joining a cult.
 
Anyway I too found his books remarkable and useful insights into property.
The second (after Somers) IP book I read was his 7 Steps to Wealth. I thought it was a better book than Somers, even though there are somethings I disagree with (ie buying in new housing estates, and his land over units fallacy) to varying levels.

I went and visited Custodian in Drummoyne and had a 1hour or so chat. I came away thinking, "they aren't helping me for free here. They need to make a margin and that margin will probably be in inflated prices"

I went away and used his strategy myself. Was very happy with the reults (1500% growth on my outlay over 5 years) on my first IP. Never looked back.

Moral of the story: Don't buy your IPs through a club or anyone who carries stock. At best you wll be charged for freely available information, at worst you can be sold a dud at overs. Spruikers who offer stock choose areas where new stock is available and not necessarily where the growth pockets are. If you must have some one hold your hand, go find a reputable buyers agent.
 
There are passive and/or active investors

The second (after Somers) IP book I read was his 7 Steps to Wealth. I thought it was a better book than Somers, even though there are somethings I disagree with (ie buying in new housing estates, and his land over units fallacy) to varying levels.

I went and visited Custodian in Drummoyne and had a 1hour or so chat. I came away thinking, "they aren't helping me for free here. They need to make a margin and that margin will probably be in inflated prices"

I went away and used his strategy myself. Was very happy with the reults (1500% growth on my outlay over 5 years) on my first IP. Never looked back.

Moral of the story: Don't buy your IPs through a club or anyone who carries stock. At best you wll be charged for freely available information, at worst you can be sold a dud at overs. Spruikers who offer stock choose areas where new stock is available and not necessarily where the growth pockets are. If you must have some one hold your hand, go find a reputable buyers agent.

I agree, but some of us who would be classied as followers rather than leaders had to start somewhere. Also, many people will not take an Active Role but a Passive one so for those perhaps joining a club, to do it for them or using a buyers agent is the way to go.
I agree with the new estates, as the prices can be manipulated, and myself prefer houses (that's just me - I just like total control over it).
Other ideas I may use is that I may buy one, two, or three lots next to each other for future redevolpment, if I like the area.
I personally do not wish to undertake development, but I did invest in Custodian Land, as they do specialise in this business.
I for one have changed from a passive investor to an active one, but I will always be greatful to JLF for showing me the start...
Others have their mentors, for me he's my mentor as I like his honesty and wealth of information.... Others may have their mentors, books, seminars.
I don't know but to be successful in property we need to be open minded and see the possibilities first. I am sure you are aware that active investors require a specialised team of experts (a solicitor/lawyer, accountant, broker, agent, etc...).
Then it's up to us to act or let someone else do it for us as long as we start and keep on learing....don't you agree?
 
Then it's up to us to act or let someone else do it for us as long as we start and keep on learing....don't you agree?
Yep.
His book is still one of the best out there. I would just recommend to a new investor not to buy through them. As I said, if you are time poor or need some hand holding then find a good buyers agent.
 
Wrong Again John

John Fitzgerald is someone who has changed my life and I'll be forever grateful. He has motivated some of my friends and family to buy properties when they never thought they could do it.

I'm keen to buy and read this book

It's definitely been a while now. Brisbane has performed somewhere between poor and schizenhausen. Fitzgerald was stating that by 2015 the market would be 2nd to Sydney. Wrong again, John. Wrong, Wrong, Wrong. JLF and "happily ever after" don't go.

But for those who are still not convinced, here he is scraping the bottom of the barrel in terms of ethics. Still hero-worshippers here? :rolleyes:

http://www.theage.com.au/national/m...le-house-land-and-a-visa-20150624-ghwjve.html
 
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