peter spann

[Les]

G'day GW,

I wonder whether PS's slant might have changed somewhat (since bringing forth the Freeman Fox finance arm and property marketing arm ???) Perhaps his newer videos might tend to "push" this side more than the slant that was evident when you and I did the workshops ???

I agree with your words as I recall PS - perhaps Bruce can shed more light on his current slant - how about it, Bruce?

Regards,

 

[geoffw]

Les,

The last I heard, his stockbroking arm was not far off. That would bring some slant onto that side of things.

I can see why he's setting up this stuff- but, to me, it's a bit of a pity. When I went through the stuff, I felt I could take his advice over many others because he was not actually selling the commodities he was promoting, so was more unbiased.

 

[TrevorG]

Gidday Geoff and Les
Further to the Peter Spann discussion, Freeman Fox now has their stock broking, real estate and finance divisions up and running.
However, the last I heard was that at this stage these services are only available to members of the Freeman Fox "Wealth Club" which costs about $3,000 and upwards per year (depending on the type of membership) to be a member of subject to spaces being available.

 

[Mr. Fabulous]

Geez, $3,000 bucks a year? I assume that the 'members' of this exclusive club are getting the commissions that Freeman Fox would be earning from the various finance/investment groups they are putting money into? I would wanna hope so, $3,000 a year for a financial planner (which is basically what this whole deal looks like), you'd wanna be getting some pretty decent returns, I tell ya.
Just last year, I went to see a financial planning company, didn't go with them, they seemed to be interested only in people with a decent net worth. They were charging $3,000 for their financial plan, which I believe is right up there is the expense stakes. I could be wrong, I dunno, but I had estimates from other planners ranging in the $1,000 area.
So if Freeman Fox are asking for 3 grand just for the priviledge of being a member of this club, then they'd want to be doing very well, I reckon.

Mark
'no hat, some cattle'

 

[geoffw]

Real estate and finance are DEFINITELY not only avaliable to the select few- they certainly have been offering me those sort of services, and I don't fit into that mould!

However, I believe that they are targeting a select group for one-on-one wealth creation strategies. For the appropriate fee. Good on them. (in the same way that IC are successful at their target market- the fullfill their own role. Good on them too).

There are so many companies with things to offer, depending on where they are at the moment.

I've been ripped off by the sharks, and it's not pleasant. And there's a lot of sharks out there.

I don't believe Spann's people are sharks. They're targeting people who have found success initially with the stratgies learnt at seminars, and who have been successful at those strateggies- and want to go further.

Investors Club is possibly suited best for those who are starting out on the IP path. And for those who have found success on that path, who want to continue.

Each company has its role, and its target market. That's the nature of a free enterprise society.

People should be protected from unscrupulous people. But legitimate companies doing a legitimate job have their place.

 

[Les]

Yeah, Geoff,

It's funny how it goes some times, but $3000 all of a sudden doesn't sound as "off the wall" that it once did!! I've heard of some out there who "find" properties that charge $x,000 per door - whatever that means (my houses have LOTS of doors....)

Oh well, I guess it all just gives credence to the old saying that "NO-ONE cares as much about you as you do" (or words to that effect).

From previous posts, it sounds like you're "doing OK" Geoff - good for you. Keep doing it for yourself and your family. Good luck.

Regards,

 

[Sunstone]

Dear guys,

Just did an ASIC search on Freeman Fox and the following comes up. Seems he has diversified. Although interesting to see that "VAUGHAN HOSKING FREEMAN FOX PTY. LTD" had an external administrator appointed.

Number Status Name

ACN 082 376 127 REGD FREEMAN FOX PTY LTD
ACN 095 224 481 REGD FREEMAN FOX FINANCE PTY LTD
ACN 095 359 292 REGD FREEMAN FOX PROPERTY PTY LTD
ACN 010 763 041 REGD FREEMAN FOX SECURITIES LIMITED
ACN 090 134 795 REGD FREEMAN FOX INVESTMENTS PTY LIMITED
ACN 009 633 121 EXAD *VAUGHAN HOSKING FREEMAN FOX PTY. LTD.
ACN 095 224 472 REGD FREEMAN FOX ADMINISTRATION SERVICES PTY LTD


Registration Dates of "Freeman Fox" companies:

ACN 082 376 127 REGD FREEMAN FOX PTY LTD
Date 22/04/1998

ACN 095 224 481 REGD FREEMAN FOX FINANCE PTY LTD
Date 28/11/2000

ACN 095 359 292 REGD FREEMAN FOX PROPERTY PTY LTD
Date 12/12/2000

ACN 010 763 041 REGD FREEMAN FOX SECURITIES LIMITED
Date 12/11/1987 Australian Public Company, Limited By Shares

ACN 090 134 795 REGD FREEMAN FOX INVESTMENTS PTY LIMITED
Date 27/10/1999

ACN 009 633 121 EXAD *VAUGHAN HOSKING FREEMAN FOX PTY. LTD.
Date 22/10/1986; 02/09/2002 018420185 5 524A Presentation of Liquidator's Account And Statement

ACN 095 224 472 REGD FREEMAN FOX ADMINISTRATION SERVICES PTY LTD
Date 28/11/2000

Seems the stockbroking arm has been going for quite sometime although the name only changed on the 26th of July this year.

Due diligence is something that always needs to be done..... with the good and the bad.

Cheers,

Sunstone.

 

[geoffw]

Thanks Les.

I'm "doing OK". I'm growing, learning, and creating a portfolio.

This forum is probably the most valuable information resource I have. The new format I feel encourages a lot more open exchange.

Two years ago (when I met you last- at the The Wife's Big BBQ in Canberra) I thought I was starting out OK. Shortly after that, the big tax problems started (http://www.somersoft.com/forums/showthread.php?s=&threadid=461 )

I haven't let that defeat me. It's been a rough few years. I've learnt to cut down on the things I "need" to have. And some good property prices have helped me to expand (as they have for many other people).

 

[brains]

Ill second that one, RichDad PoorDad was an ok book with good concepts but i just dont like his writing style, its not exactly riveting and he doesnt explain how to do things , he just says this is what you do in a really broad sense. The Richest Man In Babylon is ok too, but a bit basic, for begginners only id say. Like "save the first 10% of everything you earn" type stuff.

BTW..I went to the Doidge/Eslick Forum in Brisbane a couple of weeks ago and i reckon it was fantastic, certainly worth the $1300 odd i paid, plus the 480 page manual is great.

 

[bbruham]

G'day all,
Why spend thousands of dollars on these seminars when it's all here?
If I needed any help in buying property in Sydney I would be
knocking on Steve Navra's door.
In Melbourne without a doubt it would be Michael Yardley's door.
For financial advice, super hero Rolf Latham.
Then on top of these experts you have the whole forum, AND IT'S
ALL FREE!
Can't complain about the price!
My question is, who's the expert in Brisbane?
Bruce G.

 

[geoffw]

Why spend thousands of dollars on these seminars when it's all here?

There certainly is a wealth of information available here. Far more that one could get by reading many of the books available from bookshops.

But there is also a wealth of information available further afield. Don't ignore that.

Michael Yardney gives seminars. They cost a fair amount too. I'm sure I will attend one of those when I'm at the right stage of development (so to speak). Other people give seminars.

The Spann seminars I went to are the only ones (so far) which cost thousands. But, as a result, I'm tens (even hundreds) of thousands better off. If I hadn't gone there, I would not have been in this forum. But, even if I had been in this forum, I may still have been one of those people wondering if I should really do something "right now".

I supplement my education here by reading, going to evening seminars, trying to get together with other investors, and doing research on the web. As good as the people on this forun are, I fully intend to learn the maximum I can, and not to be "limited" by the advice which people give without payment.

(Don't get me wrong. The advice given is superb. But there's room ouside this particular nest).

 

[Clay]

Peter's seminars

I agree with you geoff....Peter Spann was my first introduction to 'bigger thinking' and for that I am grateful. I attended most of his advanced seminars and realised that many of the attitudes and approached he had I was already using, just didnt realise it. Learnt heaps of new stuff though...so the cost? If you can't bear to pay $100 in order to learn more so that you can increase your net worth by $$'000's of dollars, then it shows that there's still a way to go to understand your relationship with money.

If I learnt anything from Peter, it's about how I FEEL about money, rather than how much of it I have. He was so true when he said the majority of people have a poverty mentality and it is that mentality that keeps them where they are (usually nowhere!). I've been there and it's a sad and desperate place to be. I left his seminars not so much shouting about his methods but understanding that success starts in your head - not in your wallet.

Yes, his seminars are expensive and yes, you can learn a lot from other sources (often cheaper). Now that I have gone to his seminars, I most likely wouldn't go again. His view is very stylised and works well for him and someone from his background (he even admits to hating the thought of being poor and he works hard to distance himself from his humble beginnings). But, if someone can get you further up the road and heading off to a better future for yourself and/or your family, then the dollars become irrelevant over time.

My only note is that, as already said, Peter's approach is quite dependent on using a proprietry system and although everything he teaches can be done by the individual, it works better through his organisation. Nothing wrong with that, as some people like this approach.

 

[brains]

So true Clay...everyones heard the saying "Free advice is worth what you pay for it" I dont entirely agree with that, but i have no problem spending money for education, i have (and will) have got back multiple times the amount from the seminar in Brisbane cost me. I come from a small business background where my philosophy is " you have to spend money to make money" i think its the same with educating yourself for investment. People who try to do everything with absolute minimal outley usually dont get far.........just my opinion

 

[bbruham]

G'day all,
I love spending money on myself, but hate wasting it on these
people who feed you a little bit at a time to encourage you to spend more and more money so you can learn their secrets to wealth. Their wealth! Not yours.
I went to three Investors Club meetings, listened to what they said, got the "know how", and left.
Peter Spann and the Investors Club practice this.
"Buy as many properties as quickly as you can afford. Using interest only loans.Magic number is seven properties.
Properties value double every seven years, so on the seventh year your equity has doubled on the first property so borrow the equity and live off that equity. Repeat every year, using each properties equity.While property values continue to grow you don't have any worries. Rent increases cover your equity borrowings.
So simple! You have just saved yourselves $3,000.
When I read my first book on property investing, Jan Somers of course, I rang the Somers to ask what properties they recommended. Ian answered the phone.No way would they even suggest anything like recommending any property what so ever.
The only advice I got was buy the API magazine.
Bruce G.

Have the courage to take your own advice.

 

[bbruham]

G'day Geoff W.
In one of your comments about paying big money for seminars,
you said even Michael Yardley charges these kind of figures.
That may be true but I wouldn't be going to his seminars.
Straight into his buying one of his built full duplexes.Having Michael to do all the ground work, including finding the right property for demolition.
Bruce G.

 

[geoffw]

Bruce,

Horses for courses.

If you're comfortable learning from the forum, by reading, and by whatever other means, that's fine.

I came from a different viewpoint. I needed to be woken up. For me, it was of value to pay $3K- I did not even know there was a world of opportunities out there. I was happy to work out my lifetime in my job. I did know, however, that there might be a rocky road at the end of the job. For me, the $3K was very worth while.

For you, well, you're already coming to this forum. So you're already far ahead of where I was way back when.

But You have mentioned people giving stuff free. In the end, there's a lot of people, who, while contributing valuable information, stand to gain something. Is that wrong? I don't think so. Asjust one example, Dale gives freely. I respect him for that. But he will pick up clients (as he deserves to).

And if somebody charges for a seminar where I could earn a lot more than what I spend on the seminar?

Well, I'd have to be convinced that that was the case. But if it was, and if I had the means to do it, I would.

That was only from my point of view, from the life journey I am following.

By all means, take all the knowledge available which is freely given. But don't completely reject knowledge you have to pay for- just because you have to pay for it.

 

[bbruham]

GeoffW.,
You are right of course, for you, and some others. But I'm one of
these people (complete dead shit), who can't take advice from my fellow human beings.Not even my parents.
I must do it myself. If I go down the drain I can only blame myself. I've read quite a few books on property investment,when you check out why do they write their books the answer is userly to make money for themselves.
If you go to their websites they turn out to be realestate agents, financial advisers and sharks of a kind.
Even the postings on this website could be highly dubious. Who's to say that what you read here are true, or could they be stretching the truth a little.
I could be telling you that I've a hundred properties. Makes me one of the boys, (or gang).Plus I feel good telling lies.Boosts my
inferiority complex.
That being said , I only have three properties, one taxi, shares
plus managed funds, a gov't super fund which lost $2.1 billion dollars last financial year.
It would be very interesting if everyone actually listed what they did own!
I love reading this website regardless.

Bruce G.
Have the courage to take your own advice.

 

[Sunstone]

Dear Bruce,

Funny thing is we were talking about how many IP's the average person has on this forum.

Consensus is that it is 0.8 IP's average. Now we could run a poll on this but the fact is that it is not going to be accurate through a skewered answer base.

Are postings on this site dubious? Personally I think people can learn through most of the posts on this site. It may get you to think about a property issue in a new way or new light or just reinforce something that you already thought you knew. Nonetheless education is a neverending process. (Who says you can't teach old dogs new tricks?)

Courage to take your own advice? Yep I'll certainly give you that.

Cheers,

Sunstone.

 

[landholdings]

The problem is that the more IPs you have the less likely you are to boast how much you own. So the best way is simply to talk to people individually and they may or may not tell you but if you find that they are genuine investors they will give you a lot of really worthwhile advice. The best advice may be free, but you have to ask for it!

Cheers!

Landholdings.

 

[geoffw]

It would be very interesting if everyone actually listed what they did own!

Not so much as to how many people own- but as to what they are doing, and where they come from- has been covered by many in http://www.somersoft.com/forums/showthread.php?s=&threadid=402

I think the journey is much more important than the destination (as long as the destination is kept in sight)

(btw Bruce- you have as many properties as some people who write books have. I might have some nerve posting when I have just four properties (and of much lower value than Sydney Melbourne contributors)- but at least one guru has written a book having only three.)