This message is based on my personal experience with this organisation. I just want to highlight some of the events that occured and hopefully by the end of this post, people are a little more informed then previously.
For me it began as a simple information session about property. I was told about this seminar through a friend, who spoke highly of the seminar. He told me that just by going to this seminar you will learn things that is not only easy to understand but the information presented is useful, common sense and implementation is easy with the right learning instruments.
I went to this seminar that my friend so strongly encouraged and must admit, I did learn things I was previously unaware. I learnt a little about deposit bonds, mezzanine and how to accumulate properties relatively easily and in short periods of time.
I filled the questionaire form that was handed out at the start of the night and returned it at the end of the seminar. When leaving the seminar, I spoke to my friend and advised him that although there was good information, I thought the seminar was a bit of a sell. I do not like seminars where they really encourage you to do the course and all they ever do is promote themselves.
The next day, I received a phone call from NII to arrange an appointment and discuss further the information presented at the seminar. I saw this as another opportunity, to learn a little more.
I attended the consultation and was in a small meeting room, that almost felt like an interview. I was provided a questionaire and on this form I completed some section on a scale of 1(lowest) to 10(greatest) on things like "How confident I was to take action" or "My tolerance level of risk" etc etc.
In this interview, the consultant saw my score of 6 for taking action and after working with me for a little while, that 6 became a 10. I was motivated and encouraged. I felt good as he gave me examples and how I was able to relate to them, thinking that I can take almost any action I want. After a lengthy discussion and feeling like I was floating on clouds, confident, fearless of risk and determined; He came up with something like "You can have all this for $100 a week". At that point in time of feeling great, I thought to myself what's $100 a week, when I have been guaranteed my money back if I do not succeed. I started asking a few more questions like:
1) What is the total cost of the course? I was told $15000
2) What exactly do I get for that $15000? I was told 5 seminars some additional information sessions and the huge DVD collection (24 titles from memory)
3) How many properties do you own (the consultant)? I was told a couple, but due to some circumstances he was unable to be fully implement the NII system.
I asked more questions and was still in a state where I wanted to go home and think about it. They pressed on me to sign up and at one point they involved another consultant to also convince me. I still thought I needed time to think about it. After some more persuasion, I decided to sign myself up.
After thinking about it driving home, I sought comfort by calling my friend and telling him about it. He thought I had made a great decision and I would not regret it. That made me feel a little more comfortable. However that night as I reflected on everything that was said and kept thinking about the cost of 15K, I was thinking up strategies on how I can pay this amount off quickly. I also thought that the cost was a bit much for the service that was to be provided.
In the end I cancelled and I was allowed to cancel. I did this immediately the next day. I do not know what would have happened if my deposit was taken. My opinion and advise to others I have listed below.
1) The seminar is the initial soft sell.
2) The consultation is the hard sell. If your the type of person that can be persuaded easily, DON'T GO. If your the type of person who is sceptical (like me), I suggest make your decisions at home where you can really reflect on what was discussed and not having the pressure in the consultation.
3) $15K is an excessive amount of money to be paying for a course. It is actually $20K by the time you pay off the interest over 4 years @ $100/week.
4) If NII was so concerned in educating people, then what is the reason for charging astronomical prices? Universities might charge that sort of money for a 4 years course and that includes text books and alot of lectures/tutorials.
5) Typically property CAN and WILL go down at times. It just so happens that we have seen an excessively long growth in real estate.
6) This leads on to "Expectations" or "Expectations Theory". This assumes that people perceptions of what is occuring now, will continue to do so in the future. If you are unaware of this theory, grab yourself an economics Textbook.
7) Property is not the only wealth generating investment available. Shares have outperformed Real estate in the long run (but I guess that is for discussion in other threads).
8) Assuming you have the so called guarantee, that NII will make you $50K or get a full refund plus an additional $2000, but what happens if you lose $50K? Will NII refund you that money? You see under NII there is never any downside risk. If there is they never make you aware of it.
9) Mezzanine finance is high risk. Do a word search through yahoo etc and when you read into it, you will see that it is not safe as NII make it out to be. High returns usually mean HIGH RISK.
10) Henry Kaye is becoming wealthy, not through his investment strategies but the expensive courses he conducts. I read somewhere in this forum that 1,000 people @ $15K each, provides him with $15Million. A hefty amount for some seminars.
11) I spent $150 on some books and I would probably learn more from them than I could at his seminar.
12) If anyone has been to a NII seminar and they try and convince you to go, know for a fact that these people are receiving a commission of $500. I know this because my friend told me about it. I went along as a favour for him.
Anyway, ultimately it is your own decision. I have gone through some issues in my dealing with NII and my expressed opinions about them. Hopefully some will benefit from my post.
Regards,
Eco...
For me it began as a simple information session about property. I was told about this seminar through a friend, who spoke highly of the seminar. He told me that just by going to this seminar you will learn things that is not only easy to understand but the information presented is useful, common sense and implementation is easy with the right learning instruments.
I went to this seminar that my friend so strongly encouraged and must admit, I did learn things I was previously unaware. I learnt a little about deposit bonds, mezzanine and how to accumulate properties relatively easily and in short periods of time.
I filled the questionaire form that was handed out at the start of the night and returned it at the end of the seminar. When leaving the seminar, I spoke to my friend and advised him that although there was good information, I thought the seminar was a bit of a sell. I do not like seminars where they really encourage you to do the course and all they ever do is promote themselves.
The next day, I received a phone call from NII to arrange an appointment and discuss further the information presented at the seminar. I saw this as another opportunity, to learn a little more.
I attended the consultation and was in a small meeting room, that almost felt like an interview. I was provided a questionaire and on this form I completed some section on a scale of 1(lowest) to 10(greatest) on things like "How confident I was to take action" or "My tolerance level of risk" etc etc.
In this interview, the consultant saw my score of 6 for taking action and after working with me for a little while, that 6 became a 10. I was motivated and encouraged. I felt good as he gave me examples and how I was able to relate to them, thinking that I can take almost any action I want. After a lengthy discussion and feeling like I was floating on clouds, confident, fearless of risk and determined; He came up with something like "You can have all this for $100 a week". At that point in time of feeling great, I thought to myself what's $100 a week, when I have been guaranteed my money back if I do not succeed. I started asking a few more questions like:
1) What is the total cost of the course? I was told $15000
2) What exactly do I get for that $15000? I was told 5 seminars some additional information sessions and the huge DVD collection (24 titles from memory)
3) How many properties do you own (the consultant)? I was told a couple, but due to some circumstances he was unable to be fully implement the NII system.
I asked more questions and was still in a state where I wanted to go home and think about it. They pressed on me to sign up and at one point they involved another consultant to also convince me. I still thought I needed time to think about it. After some more persuasion, I decided to sign myself up.
After thinking about it driving home, I sought comfort by calling my friend and telling him about it. He thought I had made a great decision and I would not regret it. That made me feel a little more comfortable. However that night as I reflected on everything that was said and kept thinking about the cost of 15K, I was thinking up strategies on how I can pay this amount off quickly. I also thought that the cost was a bit much for the service that was to be provided.
In the end I cancelled and I was allowed to cancel. I did this immediately the next day. I do not know what would have happened if my deposit was taken. My opinion and advise to others I have listed below.
1) The seminar is the initial soft sell.
2) The consultation is the hard sell. If your the type of person that can be persuaded easily, DON'T GO. If your the type of person who is sceptical (like me), I suggest make your decisions at home where you can really reflect on what was discussed and not having the pressure in the consultation.
3) $15K is an excessive amount of money to be paying for a course. It is actually $20K by the time you pay off the interest over 4 years @ $100/week.
4) If NII was so concerned in educating people, then what is the reason for charging astronomical prices? Universities might charge that sort of money for a 4 years course and that includes text books and alot of lectures/tutorials.
5) Typically property CAN and WILL go down at times. It just so happens that we have seen an excessively long growth in real estate.
6) This leads on to "Expectations" or "Expectations Theory". This assumes that people perceptions of what is occuring now, will continue to do so in the future. If you are unaware of this theory, grab yourself an economics Textbook.
7) Property is not the only wealth generating investment available. Shares have outperformed Real estate in the long run (but I guess that is for discussion in other threads).
8) Assuming you have the so called guarantee, that NII will make you $50K or get a full refund plus an additional $2000, but what happens if you lose $50K? Will NII refund you that money? You see under NII there is never any downside risk. If there is they never make you aware of it.
9) Mezzanine finance is high risk. Do a word search through yahoo etc and when you read into it, you will see that it is not safe as NII make it out to be. High returns usually mean HIGH RISK.
10) Henry Kaye is becoming wealthy, not through his investment strategies but the expensive courses he conducts. I read somewhere in this forum that 1,000 people @ $15K each, provides him with $15Million. A hefty amount for some seminars.
11) I spent $150 on some books and I would probably learn more from them than I could at his seminar.
12) If anyone has been to a NII seminar and they try and convince you to go, know for a fact that these people are receiving a commission of $500. I know this because my friend told me about it. I went along as a favour for him.
Anyway, ultimately it is your own decision. I have gone through some issues in my dealing with NII and my expressed opinions about them. Hopefully some will benefit from my post.
Regards,
Eco...
