Property investment mentor program ?

[JohnHenry]

Hi guys,

Few weeks ago I attend the John Fitzgerald Custodian Wealth Builder seminar and their presentation seems to make sense to me as I'm total newbie in the investment property arena.

While the pricing for being help by the Custodian WB team might be rather steep 3% for the first IP purchase and then 2% for the subsequent purchase, but it is assumed that if you don't buy anything from them then you've got nothing to lose and some more info to gain about how real estate investment really works.

I am now comparing it with JDL Strategies (Julio De Laffitte) with the pricing or $880 once off lifetime and $ 8400 for the first IP and $ 3500 for subsequent IP purchase, they'll give you report and of course strategies yearly in where to buy according to your condition and their stock if available.

Any comments and suggestion would be greatly appreciated.

Thanks.

 

[Bigtone]

Hi guys,

Few weeks ago I attend the John Fitzgerald Custodian Wealth Builder seminar and their presentation seems to make sense to me as I'm total newbie in the investment property arena.

While the pricing for being help by the Custodian WB team might be rather steep 3% for the first IP purchase and then 2% for the subsequent purchase, but it is assumed that if you don't buy anything from them then you've got nothing to lose and some more info to gain about how real estate investment really works.

I am now comparing it with JDL Strategies (Julio De Laffitte) with the pricing or $880 once off lifetime and $ 8400 for the first IP and $ 3500 for subsequent IP purchase, they'll give you report and of course strategies yearly in where to buy according to your condition and their stock if available.

Any comments and suggestion would be greatly appreciated.

Thanks.

run and dont look back

 

[JohnHenry]

Where to run and why man :-o ?

 

[Rooster]

Any comments and suggestion would be greatly appreciated.
Thanks.

Stop being lazy.

Take your time, research properties, invest some time in your own FREE education and then take your step into property investment if it is still aligned with your goals.

You don't make money in this game by delegating your responsibilities.

Take some ownership of your decisions, rather than giving someone a commission to make them for you.

Rooster

 

[JohnHenry]

Ah IC

The reason I ask for this opinion is that I am not sure which one should I go with as there is a significant $$$ involve here, I might go with the JDL Strategies to ask since it seems their once of $880 is for lifetime anyway.

So if any of you know someone or member of them please share your experience here

 

[Bigtone]

Ah IC

The reason I ask for this opinion is that I am not sure which one should I go with as there is a significant $$$ involve here, I might go with the JDL Strategies to ask since it seems their once of $880 is for lifetime anyway.

So if any of you know someone or member of them please share your experience here

u r focusing on the wrong points. u r a spruikers dream.

the initial fees are peanuts, it is what happens with the investments that matter.

do searches on google for both companies , been threads on them both here

why would u pay people for the right to SELL u their own properties? they should be paying u!

 

[Propertunity]

.... and $ 8400 for the first IP ...

If you are going to fork out that much, then I'd suggest hiring yourself a really good independent Buyers Agent (with nothing to sell you but services), and stick to them like glue as they do their inspections. Pick their brains about their research. Watch them bid at auctions. Observe them negotiating etc. That way, you find out how to fish and can fish for yourself for the rest of your life.

I am always wary of "lifetime" anythings - whose lifetime? yours or theirs? their company's?.......
Most of the information they'll give you is readily available for free.

 

[rstephenp]

visited John Fitzgerald Custodian Wealth Builder

I am with the other guys and as suggested by propertyunity, if you wanna spend money use a good buyers agent.

I had visited the John Fitzgerald Custodian Wealth Builder and found them working closely with builders. The builders pay them commission and you also pay them on top of that. Use their knowledge and as suggested above, if you are a newbie start with a good buyers agent. There are a few good buyers agent on this site. I have used none but based on their comments they seem very knowledgeable.

Regards
Steve

 

[lpool05]

Hi John,

Why dont you try Nathan's Deal Finder. Its less than half of what you will be paying.
I understand where you coming from and I was in your shoes too.

Hope this helps.

 

[JohnHenry]

I am with the other guys and as suggested by propertyunity, if you wanna spend money use a good buyers agent.

I had visited the John Fitzgerald Custodian Wealth Builder and found them working closely with builders. The builders pay them commission and you also pay them on top of that. Use their knowledge and as suggested above, if you are a newbie start with a good buyers agent. There are a few good buyers agent on this site. I have used none but based on their comments they seem very knowledgeable.

Regards
Steve

Hi mate,

one of the Buyers agent that I know is PRE - Positive Real Estate, I don't know how much do they charge us ?

 

[pieman]

You do not need any hand holding. Many of us have started off with the help of SS as I did way back in about 1998? on the old forum.

You need to get out and about start looking at suburbs and getting an idea of rents, demand, previous growth, infrastructure - existing and planned, proximity to "lifestyle" such as cafes, shops etc. why people would want to live there etc
IMHO you cannot go wrong by buying the biggest piece of dirt you can find as close to existing infrastructure with an ordinary house on it where you can add value to improve rental yeild. Remember, land goes up buildings go down. Unfortunately, these can cost out of pocket but are guaranteed CG movers. Plenty of other options, like newish town house with depreciation benefits etc. sh!5 flats where you can add value...

That mob you are interested in will charge you a whole lot, say 10k and probably load up the sale, probably 10+k so you will be 20k+ behind from day 1. Me, id rather go skiing in Japan with the family for 2 weeks with that coin and do some hard work myself and learn a bit along the way.

 

[willair]

Hi mate,

one of the Buyers agent that I know is PRE - Positive Real Estate, I don't know how much do they charge us ?

The only way is to ask the question,on any sunday at any flea market for 50 bucks in Australia you can buy all the second hand books you want,and one item you have to understand is for every dollar that goes from one pocket to another you will be the one paying for it in one way or another..

 

[The Fence]

I have noticed you asking all sorts of questions on here and mostly people are telling you to research and learn for yourself.

No other person will take care of your investment funds quite like you will when you are armed with knowledge and experience from doing your own due diligence.

I agree with someone earlier...at this point in time you are a property sharks dream.

Give yourself a year studying the ins and outs of property investing and doing the rounds of sales open houses etc and get a feel for it.

Otherwise you may well pay a hefty price for being lazy.

Start with Jan Somers books then work your way through the relevant State Acts regarding tenancies, get an accountant who invests in property directly themselves and understands what you are trying to achieve and then get aquainted with REA's and trades for maintenence.

Maybe I'm too much of a control freak but I would never ever give money to these guys you mention.

Good luck with it mate

 

[normailson]

Stop Spamming Me

Stop PM ing me please. Or are you doing that to everyone? You clearly have vested interests and not welcome.

 

[The Fence]

So JohnHenry is spamming you...?
let the mods know.

 

[Buzz]

Listen to those who have done it. It is all about teach a man to fish. Jan Somers is a great place to start. There is a number of great threads on books to read if you can't find them then check out this list


Rich Dad Poor Dad - Robert Kiyosaki
This book and the subsequent books are now considered and institution. A great to way to start reading about why some are wealthy and some aren’t, and how you can choose.
2
Think and Grow Rich – Napoleon Hill
First published in 1937, and reprinted many times. A classic that is just as relevant today
3
The Richest Man Babylon – George S Clason
A book of basic wisdoms told through a parable.
4
The Millionaire Next door – Stanley/ Danko
This shows that anyone with a steady job can make it and that the characteristics of many millionaires are the same ones you already have.
5
The 9 steps to Financial Freedom – Suze Orman
This books takes you step by step through the process of breaking through the bad debt in your life and getting an effective savings program in place
6
Building Wealth through Investment Property – Jan Somers
The first Australian on the list. Jan’s books are easy to read and understand. She shows how to lay out a well planned wealth building strategy.
7
Ordinary Millionaires – Jim McKnight
Jim has done all the work for us by interviewing 12 ordinary Australians who have created their wealth through property. You to will be amazed at how easy it can be.
8
Streets Ahead – Monique Wakelin and Richard Wakelin
A step by step guide by two Australians who show how to build your knowledge to be successful in property investment.
9
Wealth Magic – Peter Spann
From a checkout chick to waterfront properties. Through a number of valuable mentors and hardwork Peter shows anything is possible.
10
From 0-130 Properties in 3.5 years – Steve McKnight
Steve concentrates on positive cashflow investments, a good story of one way to gain a passive income.
11
How to Grow a Multi Million Dollar Property Portfolio, in your spare time - Michael Yardney
This book is written both for beginners as well as advanced property investors and explains how our next property boom will be Australia's biggest property boom and possibly our last big boom. click here for free chapter »
12
Secrets of Property Millionaires Exposed - by Dale Beaumont
This book is designed to enable readers to get up close and personal with top achievers. It is refreshing to hear the stories of those who have made wealth out of their particular property strategy – and each one is completely different. Read more about this book »

12 Books 12 months - find your own strategy set your own goals and then position your finances for action. Only then will you be able to grow a portfolio that is not only sustainable but gets you the property portfolio to get you to your long term goals.

Even if you have done all the research and then decide to let someone else do the work for you fine - but understand how they get paid if it is cheap then it might mean they are getting commissions elsewhere - this is not always the case just be in the position of knowledge to be able to ask the intelligent questions.

All the best I hope this helps
Jane

 

[Browny]

Hi all. Before you go investing with Custodian Wealth Builders I want to let you know my experience. My wife and I invested with them and lost loads of money. Everything that John Fitzgerald tells you that they do on stage to make it a good investment, they seem to do the opposite. Because they are doing so many sales they just vast tracts of land in the middle of nowhere and plonk all their investors in the one spot. All of the properties come onto the market at once so you have to drop your rent well below what they promise. Ask Mr Fitzgerald how well investors are doing out of their Rothwell Estate in QLD or Redbank plains estate in QLD?? We lost tens of thousands and after talking to other Custodian Investors, they have had the same. I am surprised no one has a hate webpage. The places where they put their properties are terrible. THey go for areas where they have the biggest profit margins not that will give you capital growth. Here is how it works: Custodian will go to a developer and agree to take 100 blocks of land at a discount. So the developer gives them all the crap he cant sell all lumped together side by side or beside power lines. The land is placed on what they call a "put option" - meaning they have to sell it within a certain period or they have to buy it. They then go to a struggling builder and agree to give him 100 builds. For this they want a massive discount. Now - these discounts are never passed onto you. Custodian used to sell at "valuation". That was not legitimate. What they would do is through INVESTLOAN (their brokerage arm) they were allowed to order a valution which would be way above market price and that would given to the bank as the "bank Valuation". A regulator came in and no longer allows them to do this becuase too many people were getting ripped off. Now what Custodian does is gets a valuation done on the property to lead you to believe it is worth more than it is. They use that for the sales price. When your bank values the property and it comes in $40 000 under the custodian valuation the salesman will tell you that the bank valuation is wrong and show you the one they ordered. The salesman then talks you into paying the extra. Now from the building side - the builder does a crap job becuase he is getting paid nothing to build the houses - many of their builders go broke becuase Custodian has crunched them down on price. Yet you are still paying top dollar. Generally $30 000 to $40 000 above true market value. The 3% fee is a joke. You get nothing for that. Once you have signed off you will never hear from them again and if something goes wrong you are on your own. It just pays for the $millions in advertising and Mr Fitzgeralds lifestyle. What do you think pays for a fancy office in north sydney??

John Fitzgerald seems like the great guy on stage that has his charity for kids and tells you that he wants 50 schools across Australia yet there has been 1 school for the past 10 years???! Work that out, It seems it is just enough to get him some good guy publicity and a tax deduction.

 

[JohnHenry]

Browny,

Many thanks for your reply you seems right after a while I calculated that the 3% on top of house purchase deal is a joke :-/

I was about to get a mortgage refinance meeting with them but I got another meeting at my office so I cancelled them, and so far I haven't hear anything from them.

The case is different with JDL Strategies, after I signed up with them by paying $880 once off with my credit card, they seems to be good to me by giving away $1500 fast track to wealth seminar and also they follow up on my progress with my financial details and analysis to forecast wealth building strategies that works for me.

 

[Telejazzer]

The case is different with JDL Strategies, after I signed up with them by paying $880 once off with my credit card, they seems to be good to me by giving away $1500 fast track to wealth seminar and also they follow up on my progress with my financial details and analysis to forecast wealth building strategies that works for me.

You seem to be set with this group despite the comments you received. Well, it's your money. $880 with $1500 worth of info sounds like and informercial to me, but that's just me.

I do attend seminars though, but seminars where speakers are professionals in their own field (valuers, town planners, etc.)

Investing to me is a tough gig and you have to commit to your own learning in order to have a better chance of success. Only my opinion of course.

 

[Browny]

I agree with Telejazzer.

Go and see people that are qualified. I think accountants, town planners etc may have something to offer. I am not sure how much the people at Custodian Wealth Builders have to offer in regards to qualifications.

I went to a JDL seminar once - seemed pretty waffley to me. Remember - no one gives away a $1500 seminar for $880. It is a sales gig.

I am sure there are good honest people out there doing this stuff. You just need to find them.