Mentor wanted

[weg]

OK, I'll accept your word... that the H & L packages they offload to novice investors, are not a result of any biased 'sales pitch' to benefit CWB .

http://www.propertysearchers.com.au/press/article_18 jan 08.pdf

 

[MIW]

OK, I'll accept your word... that the H & L packages they offload to novice investors, are not a result of any biased 'sales pitch' to benefit CWB .

http://www.propertysearchers.com.au/press/article_18 jan 08.pdf

Thank you Weg and I will give you some statistics of when, where and for how much I bought (only their properties):

Suburb; Year Purchased; Price Purchased; Value Now; Rent/week

Carina QLD; 2000 ; $246,000; $468,000; $460
Wynnum West QLD; 2000; $182K; $410K; $395
Ferny Grove QLD; 2000; $254K; $466K; $405
McDowall QLD; 2002; $315K; $550K; $475
Canning Vale WA; 2003; $263K; $490K; $425
Bracken Ridge QLD; 2004; $330K; $393K; $420
Warner QLD; 2006; $380K; $460K; $420
Derrimut VIC; 2007; $325K; $400K; $315
Ormeau QLD; 2007; $370K; $420K; $385

Purchase price total = $2,665K vs Value now total = $4,057K

Remember that I probably paid a premium for these, being all new built properties, and that we had about 10% fall in QLD in last year. I am still happy with the end result of about $1,392,000 made in equity (give or take). How could I not be happy with that especially being a novice and just following through with their program.
I think if any company thought short term and spruiked people no one would continue to invest with them, people quickly learn if someone is dishonest, don't you think?
Since then I have purchased myself directly, refinanced, and learned a lot too. For me property is for long term, where I never plan to sell.
I think some people get annoyed because they wish to do it quickly, especially at the beginning to buid up the portfolio, and be constatly in motion, for us is was just the opposite, slow process of duplication, whenever we could.

 

[weg]

MIW, in a rising market almost all housing performs, but it doesn't mean those investments were the best available at the time.

They were the best for CWB!

Sorry but to me, they sound very much like developers with a sales pitch called 'education'.

 

[Rolf Latham]

MIW, in a rising market almost all housing performs, but it doesn't mean those investments were the best available at the time.

Sorry but to me, they sound very much like developers with a sales pitch called 'education'.

Im going to stick my head in here ............and may lose it


My experience with MOST 2 tier organisations ( and I use that word to mean, any property sale that isnt direct from an REA and has some form of intermediary other than a BA involved) is the following

1. The investment made isnt the greatest investment at the time that the client could have made if they had done a busload more DD.
2. Invariably, MOST People that have made such an investment, would not have made ANY form of investment unless taken on a "guided discovery" process by a marketer
3. Many are financially better off for the experience
4. Many are financially worse off for the experience for a variety of reasons


I wont bin or endorse any marketing organisation in general...........some are ok, some are good, and many are BAD BAD BAD.


Its very easy for us to stand on our "20 year experience "soap box declaring this investment is poor because, and you could have done so much better IF....................

For most that have gone down this path, that IF, is a very iffy IF...........


I am of the same opinion with various property and wealth courses, some are great, some are really really sad, and many are the catalyst for a great catalyst of a mindset shift


ta
rolf

 

[lizzie]

I will give you some statistics of when, where and for how much I bought (only their properties):

Some good capital gains on the first few properties ... but I do wonder ... you haven't bought for the last 4 years, but the rent has only just hit 7.2% over the portfolio ... and the CG was about average for the period.

I think, with knowledge and DD you could have done a lot better over, what was, a boom period.

I bought two in a major east coast city just over 12 months ago that are already returning 7.5% ... along with 15% CG growth.

If I had bought a similar property in the same city in 2000 the property would've tripled in value, and the rent gone up by 250% (kicking myself that I didn't buy those two that were offered at the time).

The investment companies may be good for some who are time poor - but I also don't believe they have the best interests of the purchaser in mind either. They have a product to sell, for the best interests of the company. Good that it got you on the bandwagon - but if you had choosen to take the time, at the time, you could have done so much better. My opinion only.

 

[MIW]

MIW, in a rising market almost all housing performs, but it doesn't mean those investments were the best available at the time.

They were the best for CWB!

Sorry but to me, they sound very much like developers with a sales pitch called 'education'.

I agree.
However, my accountant told me of 3 cases of how people invested in Sydney and 10-11 years later sold for less, so as there are better investments so there are worse ones too.
Anyway, I do see your point though because now I purchase directly.
Thank you for talking with me and I hope I am not preaching again...I will end there.

 

[MIW]

Im going to stick my head in here ............and may lose it


My experience with MOST 2 tier organisations ( and I use that word to mean, any property sale that isnt direct from an REA and has some form of intermediary other than a BA involved) is the following

1. The investment made isnt the greatest investment at the time that the client could have made if they had done a busload more DD.
2. Invariably, MOST People that have made such an investment, would not have made ANY form of investment unless taken on a "guided discovery" process by a marketer
3. Many are financially better off for the experience
4. Many are financially worse off for the experience for a variety of reasons


I wont bin or endorse any marketing organisation in general...........some are ok, some are good, and many are BAD BAD BAD.


Its very easy for us to stand on our "20 year experience "soap box declaring this investment is poor because, and you could have done so much better IF....................

For most that have gone down this path, that IF, is a very iffy IF...........


I am of the same opinion with various property and wealth courses, some are great, some are really really sad, and many are the catalyst for a great catalyst of a mindset shift


ta
rolf

Thank you for that.
That's all I am saying that if I was a novice and I did not know how to invest and did not want to learn yet someone helped me to start, why is this a bad investment? In my opinion, an action of any sort is better than inaction, especially if I am content with the end result.
I don't understand why people cannot understand that and keep attacking me personally. I am not promoting them, or anyone else but just illustrating my experience.
Perhaps, honesty on this site is something that needs to be communicated less.
Perhaps your personal experiences (to all on the forum) could be shared instead... especially when they all seems to be so great?

 

[MIW]

Some good capital gains on the first few properties ... but I do wonder ... you haven't bought for the last 4 years, but the rent has only just hit 7.2% over the portfolio ... and the CG was about average for the period.

I think, with knowledge and DD you could have done a lot better over, what was, a boom period.

I bought two in a major east coast city just over 12 months ago that are already returning 7.5% ... along with 15% CG growth.

If I had bought a similar property in the same city in 2000 the property would've tripled in value, and the rent gone up by 250% (kicking myself that I didn't buy those two that were offered at the time).

The investment companies may be good for some who are time poor - but I also don't believe they have the best interests of the purchaser in mind either. They have a product to sell, for the best interests of the company. Good that it got you on the bandwagon - but if you had choosen to take the time, at the time, you could have done so much better. My opinion only.

Hi Lizzie,

If you read my previous comment I only illustarted the CWB properties, not others and I certainly do not plan to disclose any more of my purchases. Why would I when I am always shot down by all the experts and the deals you make?
I will point out that I did not have the knowledge, nor the understanding nor the experience so I took action with someone.
In hindsight it's easy to say I should have done this or that and I do not believe that all people's investments were without any challenges or bad experiences. Surely, no one is born with that knowledge, are they?
Just my opinion.

 

[The Y-man]

Perhaps your personal experiences (to all on the forum) could be shared instead... especially when they all seems to be so great?

That was the intent of

http://www.somersoft.com/forums/forumdisplay.php?f=4

Hopefully we'll get it happning again soon

The Y-man

 

[weg]

I agree.
However, my accountant told me of 3 cases of how people invested in Sydney and 10-11 years later sold for less, so as there are better investments so there are worse ones too.
Anyway, I do see your point though because now I purchase directly.
Thank you for talking with me and I hope I am not preaching again...I will end there.

No problems.

The way I see it is, if your not going to do the DD yourself, at least do it on your mentor, or those who will be doing it all for you - that applies for anyone.

Everyone looks after their self interest, and not saying CWB are looking after themselves ONLY (they obviously have some happy customers) but I'd say with a set up like theirs the conflict of interest would have a significant impact on who the investment is likely to benefit most.

This would be most obvious in a slow or bear market, I would think.

 

[MIW]

A BIG, BIG thank you!

That was the intent of

http://www.somersoft.com/forums/forumdisplay.php?f=4

Hopefully we'll get it happning again soon

The Y-man

Thank you for directing me to those interviews. Of course I had to check yours and I remember I came across The Player responses before, so I had to read his. WOW! That's what I needed, some positive feedback. I will take on board some of this advice....thank you.
I may be not so well versed in this English language as most but I do have dreams too.
You are all inspirational and my "buy and hold" strategy for CG is re-confirmed.
I have noticed you too hold some gold....interesting times ahead.
I was just about to give up on this forum but you have saved a soul....

 

[colleen_04]

Can we all be friends again?

 

[Rolf Latham]

Can we all be friends again?

geese

its just a pre school sandpit


If we go back to the "days of the old schoolyard" we will be fine

ta
rolf

 

[Sim]

I thought it might be useful to link to a very old thread on Somersoft - one considered by many to be a classic.

teach us to fish

... in particular, pay very close attention to post #7 by "The Wife".

 

[MichelleJenning]

Hi Colleen Congratulations on taking this step towards your future goals. I might be able to help, I am a property investor and mum myself looking for like minded, genuine people to help.

 

[lizzie]

was that last post a spam or a scam? Or am I just a crusty old cynic?

 

[Mick and Andrea]

I think a mentor is really important.

I agree 100% that there are some good and some bad.
I was involved with a group on Brisbane back in about 2004 and got burnt. Valuable lesson and it took a long time for me to see the gift in the lesson.
I don't think the bad ones stick around for too long (like the one I was with)
I joined anither mentor group 9 months ago with Andrea and it has done wonders for our investing.
Regular group meetings and having one one ones to discuss progress and ideas has been very useful for keeping us on track and focused. Getting a toe up the bum is also a good thing.

I doubt that there many if any that have become seriously wealthy without advise, tips, teachings etc from good mentors. Just choose wisely.

I'm also a big fan of the free seminar!

 

[Mick and Andrea]

I thought it might be useful to link to a very old thread on Somersoft - one considered by many to be a classic.

teach us to fish

... in particular, pay very close attention to post #7 by "The Wife".

Great find from the archives Sim. Love post 7. It's a gem

 

[matto_]

MIW - I am totally with you. Action is more important than inaction. And if that action is assisted through others (ie a development company) then that is fine as long as the person is aware of that.

We have never been down the path of buying through one of these companies,

however - have paid lots of money over the last number of years in educating ourselves through various courses etc. We could have done the due diligence and "found/researched" this information on line - however I thought it was more important to get it in a packaged format, thus providing confidence.


====

In terms of mentors - it is really horses for courses - however to me this site is as good as any - loads of people to ask questions of and keep you on track.