OS Property 'gurus' - who are they???



From: Colin Mills

Guy at work told me he had been to a seminar where the usual spiel was given about how he could get rich using property, stock market, blah, blah blah.... Guy giving the spiel was a Yank (surprise surprise) who was running another seminar for which he wanted some serious money.
OK what I'd like to know is just who are these guys? They hop on a plane from LA (probably never set foot before in this country in their life) and the next day they are billed as being hot shot property know-it-alls who want a small fortune to reveal the "secrets"! What are their credentials? What AUSTRALIAN qualifications do they have? What experience do they have investing in AUSTRALIAN property or the AUSTRALIAN stock market.
I lived and worked in the States and can assure you that just because something works in southern California it does NOT mean it will work here. Fact is, America and Australia are in certain respects like chalk and cheese yet these characters are promoted as being full of insider knowledge and possessing sure fire ways to make a fortune applicable to the local market. These jokers would not know the difference between a kangaroo and a wombat!!!
Yet look at the info they actually peddle. Selling call options and wrapping property have been around for at least 20 years that I'm aware of! (My ex brother-in-law was wrapping in the early 80s in Washington DC - for those who think wrapping is the best thing since sliced bread I might add he was wiped out when interest rates jacked up and the market dived and all his tenants/purchasers walked)
Why would anybody pay thousands of dollars to hear info over 20 years old??? So wheres the Office of Fair Trading or consumer affairs watchdog.
My solicitor calls these characters snake oil salesmen. Its hard to disagree.
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Reply: 1
From: Mojo Jojo

Could be a guy by the name of John Burley who is town this week. Although I'm not paying the $2500 to go to his weekend course, I quite like what he's got to say. He talks about building a foundation first not just going out and making a million in your first year. Lots about saving and cutting your spending.
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Reply: 1.1
From: Sergey Golovin


In old days they used to call all locals in small town to the circus (theatre), collect all their money and go...

And all locals still are waiting to see what is all about...

Serge G.
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Reply: 2
From: Michael G


If it is John Burley, he's been here quite a few times, I did do the course before (I didn't like it), I recommend buying his book though (as the book will cover the ideas covered in the course), the technical aspects have been written with an Oz accountant (Bruce Whiting) so the ideas are relevant.

One thing to keep in mind... keep an open mind.

Not relevant?

SP500 index, traded globally.

Futures, traded globally.

Currencies, you get the idea.

Interest rates, ah huh, yep.

Borrowing money to buy property, yep you guessed it. There are people in the states doing the same thing we do here, taking out mortgages.

Getting back to ideas and concepts. If there is a technique or mindset to help people think about the way they use or budget their credit cards in the States, do you think it could apply here?

What about the idea of reducing living expenses and buying income producing assets?, do you think concepts (ideas) could be applied in both countries?

And you know what the real kicker is?

What would you do if you found this really great idea in some other country and realise no one is doing it in some other country. An idea which would make you some decent money. Do you think it would be worthwhile hoping on a plane from L.A. or something paying some $$$ to speak with some top notch local accountants and solicitors to see if they could work out a way to make the idea work with local laws.

What if they said, "gee I hadn't thought about it that way before. But you know, it could work"

What would you do, if you suddenly find yourself with the right tools to know make the idea work in this new country?

Would you go and apply it?, would you teach it others for a fee to cover all your own expenses and make a tidy profit out it?

Or am I just rambling nonsense, because such a thing could NEVER happen?

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Reply: 3
From: Felicity W.

I have been to his introductory night, and I have to say that the way he explained his "get out of debt" strategy was very simple and easy to follow.
Still requires discipline, as do all things financial, but at least it was a good plan.
Keep smiling
Felicity :cool:
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Reply: 3.1
From: Colin Mills

Michael - YES!!! (You are "rambling nonsense")
PS Do yourself a big favour and drop the sarcasm - its a sign of weakness.
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