Relief

[Pumblechook]

From: Peter Martin


Just thought I'd mention for those who are sweating on refunds from HK or who are considering signing up with him - my refund cheque arrived today.

They refunded the whole lot, plus an extra $400 as promised.

Took 'em a couple of weeks longer than they said it would but I think I'll sleep that little bit easier tonight.

Cheers,
Pete

 

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Reply: 1
From: Sergey Golovin


Who is entitled to a refund, Peter?

Serge.

 

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Reply: 1.1
From: Scott Marshall


My friend was all excited about HK, telling me how great it was, what he would be getting etc. I balked at the price. Since then ( a few weeks ago ) he has moved home to his parent's house with his wife and child (he is 39) and the family home is on the market at around 15K overpriced. He can't stand to lose on this "sure thing".
In the meantime I have just got a LOC for 30K and plan on either buying a 1 br flat in high growth area, or 3 br house in Brisbane.
I think he will now be about 5 years behind where he was and HK is where exactly?

~~if it's too good to be true ~~ it usually is ~~

 

[Jude H]

Reply: 1.1.1
From: Jude H


Hi Scott,

That would have to be one of the saddest stories I have heard in a long time.

Is it possible to get your friend to have a look at this site before any further damage is done?

My crystal ball tells me that trouble is headed his way.

Jude

~ Never take no for an answer from someone not empowered to say yes ~

 

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Reply: 1.1.1.1
From: Scott Marshall


I mentioned this site about 2 months ago to him. I'm afraid his Rich Dad books said to get the very best you have to pay for it. Not the case as we know.


****you can lead a horse to water.......***

 

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Reply: 1.1.1.1.1
From: Anonymous


Scott, I believe your friend is using HK's advice - "You all should go and sell your houses right now!" His reasons behind it were things like - to own your place you live in costs too much, interest on the mortgage is not tax deductible, lowers you borrowing power etc. I don't know how others took this advice but I shivered and said to myself - NO!! Probably one of the things I don't have the guts to do and don't believe is right. Your friend's story is the first one of this sort I heard of.

 

[see_change]

Reply: 1.1.1.1.1.1
From: See Change


Anon

depends on your circumstances. We have just gone through a subdivision ,1/2 acre to two blocks. We sold one block and built on the other. Given the state of the market in sydney we are planning on selling our new house and buying something cheaper with hopefully no ( or minimal ) mortgage.

The money that is currently going to pay our home mortgage will then be used for investments.

I haven't attended HK's courses and don't intend to. It does make sense in that the money that is paying off our home mortgage can control a lot more capital in IP's. Obviously the IP's have to be well bought and in the current market I won't be rushing out and competing with some of the lemmings around.

We will be buying in the same area we are selling in as I am wary about staying out of the market on the off chance that it keeps on going. If I was more adventurous I would rent for a couple of years in the expectation that when the market comes off the boil I could buy something cheap but there is a risk associated with that.

happy investing see change