National Investment Institute (NII) (post #1)
Hi All,
Just thought I'd point out a couple of things in support of the moderator comments about the replies to Economic.
Firstly, posting the NII experience of Economic would be very considered. And some of the replies were supportive, encouraging and sounded mature.
It is however, only an opinion, (and one that Economic has a right to post).
Another point of view could be that becoming a full/part time property investor is like starting a business. How many people out there have the courage to go out and work for themselves full time and take that chance? We all know that many people never could due to FEAR of FAILURE.
Were you to ever start a business, you would need start up capital or money to buy a franchise. In other words, you cannot just begin without a financial commitment of some sort.
How large that commitment is, depends upon the scale and value of your intent.
Now, if you want to just buy two or three properties and live happily ever after, then there are plenty of books to guide the way.
BUT....... If, like most of us, you want to leap frog the 'crowd' and get out in front, then surely you have to make a substantial commitment in order to gain the knowledge. By that I mean in order to become a 'player' in the industry, whether it is property or shares, you have to gain years of knowledge/experience SOMEHOW.
Now, can you go out and do it in years yourself, or pay for it and learn quickly, apply it straight away and accelerate your earnings to pay for the education just as quickly. That depends upon the individual, and their a) ability b) motivation and c) determination
Economic is entitled to withdraw from a course as the focus/fear is upon the cost of the education, not the intent of what to actually DO with it, and I believe any other decision would be wrong.
This is no different to being concerned or having 'buyers remorse' if you had just purchased a $250k book shop ( I have a friend who did this), and realised the enormity of the undertaking.
I was dismayed to see that an alternative opinion offered was attacked and proof of legitimacy demanded like a pack of wolves.
Why then, do the forumites attack someone who supports an opposing point of view? (and I note that some of the active regulars refrained)
eg Give us some solid information to go on, for example how you have personally used this great information to further your property investment. Location of properties, price paid, yield expected, cap growth, etc. (deleted the personal stuff)
You have no right to demand any person to provide details as proof. There are some people offering opinions in this forum, who do not even OWN an IP.
Some time ago, my friend researched a large number of franchise businesses. Curiously, the point of view is not dissimilar
1) The seminar is the initial soft sell. (So was the 'Franchise Expo' she attended)
2) The consultation is the hard sell. (The 'Interview' with the company trainer, followed by the 'tour' of the head office)
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. ($250,000 inc stock is a lot of money to buy a job when you pay it off over 10 years)
4) If NII was so concerned in educating people, then what is the reason for charging astronomical prices? ($250k for a franchise? why not go and set up your own book shop with lots of stock? ANSWER... because the business model has been proven to WORK)
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. (Typically, not everyone likes to read, it just so happens that Australians consume more magazines per capita than just about any other nation)
There are alternative points of view to EVERYTHING. That is what makes life so interesting.
Personally, I have attended MANY courses (inc HK) and I got something out of ALL of them. I now invest FULL TIME.
Until then, I wouldn't have had the b***s to buy a $1.1mil block of t/houses with $1, or a block of apartments at $90k below VAL, or three developments with DEP BONDS and so on.
So before you go harrassing someone else, remember, it is an arrogant person who says they can learn no more, because no matter how much you know, there is always somone you can learn from.