New to PI - how to get started?

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From: Andrew Matsen


Hi,
My Name is Andrew and I am a new comer to Property Investment. I have just attended one of Henry Kaye's beginners nights but was wary of paying $12,000 to do his full course.

Can anyone give me some advise on this?

If Henry's course is not the way to go, then what is. My wife and I both have good incomes and have just purchased our first house 12 months ago.

Can some point me in the right direction. I am very willing to learn.

Regards

Andrew
 
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Reply: 1
From: Sergey Golovin


Andrew,

What are you concerned about – the study or the cost? Both of those have been raised here. And cost wise it starts from $200-300 and up to $12K (as you just mentioned). That particular seminar you have mentioned earlier started from $4K and 2 month ago was $10K, one month ago $11K and $12K now.

What it suggests is (I am just speculating that’s all) numbers of students are falling dawn. But the revenue (certain amount of profit) has to be raised at any cost.

Well you know the rest…

I have noticed one interesting thing - It does not matter how much and what we tell’m about the seminars, usually when people asking this sort of question, it means that they already at the second stage of the decision making process. The question “if” has been already answered now all it is left to find solution “when” and “how”.
Does not matter what we tell’m, 2-3 weeks later they are coming back and reporting back to the forum – “I’ve done it…”
Please shop around - few of them currently available all around Australia, local once as well as international.

Serge G.

P.S. Just an example - http://bne003w.server-web.com/read?5103,30
Here is one only out of hundreds others post on this forum, posted at least once a week if I am correct.

Here is one more - http://bne003w.server-web.com/read?5108,30
 
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Reply: 1.1
From: Andrew Matsen


Hi Sergey,

Thanks for the reply.

My concerns with Henry's course are the following.

1. In answer to the concerns of the study required. The study does not worry me. I am in the IT industry and am capable of, and have developed software like the WebBoard we are currently using. This has taken a lot of study.

2. My main concern is cost and value for money. I am sure the information given by doing Henry's course is valuable by is it worth $12000. I don't know, what do you think and have you done the course.

3. Another concern is Henry's success. I have no doubt Henry's has had very good success over a short period of time, last 2-3 years for example. I am not sure this is the person I should be learning from.

Should I not be learning from a Investor with a IP spanning at the least 10 years, who has seen the highs and lows of the market and still had a great return.Correct me if I am wrong.

What I would like to know is, who these people are and what is would cost to get information from them.

Here is my goals in brief.

I am currently 35 and am determined to retire no later than 45 on an passive income of $10,000 a month minimum to support the lifestyle I want. I figure I would need a before tax passive income of approx $250,000 a year to do this. This equates to an IP of $5,000,000 with a net return of approx 5%.

What I would like to know is who out there can help me to achieve this, it is possible, and what will I need to know and how much money will it take to gain the knowledge to do it.

Kind Regards

Andrew Matsen
PS - All help appreciated.
 
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Reply: 2
From: Michael G


Hi,

In regards to the HK investing style, best thing to do is start asking around about "buyer's groups" there are a couple in Sydney. They have a couple of meeting where they speak with Developers. This would allow you to learn exactly what the results of the course are suppose to achieve and would allow you get first hand knowledge of what it is all about.

Michael
 
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Reply: 2.1
From: Sergey Golovin


Andrew,

As Michael mentioned earlier - it is one possibility.
The other one is to read this forum current posts and archives.
Books perhaps or other forums or seminars (work shops)?

It might take some time, but as I figured it out, you have long way to go yet ($5 mil. worth of property!). Which is fine. What do they say - many rivers will flaw or water will flaw? or something? before you are comfortable enough to take you shoes off and have rest. Or many years?...

So, seat back, relax, and enjoy the trip. As you said you are willing to learn. So, learn as mush as you can, while you travel along. And put it into practice.

This is about the properties, about the computers - do you know by any chance why when I do log in to the forum, my computer sometime is asking password (even if it is saved) and sometime does not. Why sometime it does say - Welcome Rolf, or Michael, or Cathy...?

Regards
Serge G.
 
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Reply: 2.1.1
From: Natasha Norton


I to am looking to get into the PI arena. And I too have attended one of Henry Kaye's introductory seminars. I have one question, and it's something that Henry brings up when he speaks. Deposit Bonds and Bank Guarantee's. He keeps going on about how easy it is to get one of these. Does anybody have any information on either of these. How do I get one. What do I need (fiscally) to get one. etc etc. Any helpful advice would be greatly appreciated.

Natasha
 
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Reply: 2.1.1.1
From: Wadih Nakhle


Hi Natasha,

Correct me if I'm wrong guys.
To get your Deposit Bond/Bank Guarantee you will need -
1. some form of security i e. Equity in a property etc.
2. To have a letter of approval from a financier to the effect that they will provide you funds to settle on the property when the time comes.

Regards,

Wadih.
 
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Reply: 2.1.1.1.1
From: Dave :)


You don't need to have pre-approval from a financier in most cases. The
underwriter does a pre-approval himself as part of the deposit bond
application. You just need to provide them with the standard info as
you would for a normal mortgage.

Cheers,

Dave
:)
 
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Reply: 2.1.1.1.1.1
From: Wadih Nakhle


Hi Dave,

I stand corrected and informed.

Thanks

Wadih.
 
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Reply: 2.1.1.1.1.2
From: Rolf Latham


Hi dave

So the Bond provider will also provide an offer of settlement finance and Lenders Mortgage Insurance in the instance where they provide pre-approval for the bond ?

Ta


Rolf
 
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Reply: 2.1.1.1.1.2.1
From: Sergey Golovin


Andrew,
Sorry we got carried away here.

Some extract from "Permanent Education Has Arrived" ABC Radio National Sunday 10/06/01 The Digital Degree - part two: Dancing With the Devil

It is not exactly an answer on you question but then again it is very hard to give tips on hot stocks...

Anyway here it is -

David Longanecker: I started in my paper with one called The Just Do It Approach, the sort of Nike approach, which is basically to allow the private market to provide the services here and not worry about controlling them. I then looked at another one which is the opposite side of that which is We’ll Do It Ourselves, Thank You Approach, which is basically government doing it itself, and at least in the United States this was the dominant model. This is where we’ve had our public institutions which educate about 75% of our students in our country and that has been the dominant model.

The third approach is to We’ll Help You Do It, this is a very common model at the present time where you provide incentives through public funding and public direction to encourage others to provide the education that you’re hoping they will provide, a very common model in the United States right now, in part because it’s cheap, but also because it’s a very cost effective way of sort of leading and providing the signals to the institutions about what they should do. And then the fourth one I mentioned was the Just Do It, But Do It Our Way Approach, which is the regulatory approach. Now that’s really out of vogue in the United States at the present time, but we will always have regulation, because in fact the market doesn’t work perfectly, and so you need ways in which you need to assure that there are certain public outcomes, issues around quality and equity and access, that aren’t addressed without government intervention.
 
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Reply: 2.1.1.1.1.2.2
From: Dave :)


Hi Rolf,

Here's the deposit bond brokers' answer to your question:

"We will provide an offer for settlement finance
if;

1) The referral isn't from another finance broker (ie we don't want to
tread
on anyone's toes and look like we are "stealing" their clients),
2) If the overall LVR position does not exceed 80%, or
3) In the case of clients eligible for a professional pack, if the
overall
LVR position does not exceed 85%.

Exceptions to points 2 and 3 can be made if the client demonstrates a
large
excess in their net disposable income, showing a savings capacity to
reduce
the current LVR. We would require confirmation of a savings plan in this
instance."

Cheers,

Dave
:)
 
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Reply: 2.1.1.1.1.2.2.1
From: Sergey Golovin


Andrew,
Sorry, back to your question.

You are asking - "Should I not be learning from a Investor with a IP spanning at the least 10 years, who has seen the highs and lows of the market and still had a great return. Correct me if I am wrong…"

As you are well aware any discoveries (research) in IT industry last maximum about 10 years(?) the really good once (fundamental discoveries). We are talking PhD’s and alike. So, if you do have PhD in 10 years it is obsolete. You have to start again. And Medicine – 15 years or something?

No one holds the truth any more and no one has the keys to it in this information age. It is accessible to anyone and anyone can and will participate.

You can contribute as much to Henry Kaye (or anyone for that matter) as he can to you.

Sometime small investor (the beginner) has better idea or better informed then "old gurus" and sometime older once are better informed then new once. This is why you will find that some of the old gurus do hang around all sorts of forums. Why? Because it is beneficial to all of us, beginners as well as gurus. Is it something wrong with it? No! People who do hang around the forums actually are very clever. Again, because it is benefits them as well as others.

So, to answer to your question from slightly different preceptive - if the money is not an issue, do them all (seminars) or as many as can. And one’m will suit you down to the ground.

It could be very frustrating or it could very rewarding.

Regards
Serge G.
 
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