Sean Summerville The Property King

Hi all, just after some feedback on anyone that has done/signed up for the course offered by Sean Summerville? I haven't had a chance to review all the threads in this forum, if one already exists would greatly appreciate your direction as to where to read up on it... I've tried a couple of searches but nothing too specific about his course. thank you!!
 
The fact that the "Property King" is not mentioned on this forum much at all, should be enough indication.
 
I was gna comment a while back that I hadn't heard of him, but thought it might be a bad idea.

Property King. That's a good one. I wonder who bestowed that honour.
 
Is property king spelt as "s-p-r-u-i-k-e-r"?
QLD based ?? Check.
Lets see webinar, check. Free books. Check. Course / seminar etc. Check.
Licensed ??
 
Speaking of which,

I drove past the office of a well known buyers agent business last week that is being dragged through courts.

Same location, same colour scheme, different name. Didn't take long at all.
 
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Thanks guys, I'm getting the feeling we're all self made on this forum...

This place is the best university in the world :)

Firstly: it is free (thanks to the Somers :D)
Secondly: you can study online whenever it suits you
Thirdly: you are learning from those that actually "do" rather than just "teach"
Fourthly:people tell you about their mistakes as well as their successes.
Fifthly: there are no set exams
Sixthly: Even if you fail the first time you usually still end up quite rich eventually.
Seventhly: You get funny stories to read when you are bored
Eighthly: You get free counselling for personal problems
Ninethly: .... ummmmmm
 
Ok, thanks guys!! In that case let's start with some pointers to my problem... im wanting to secure a property without paying up front for it. Renovate it and then on-sell it... but I don't want to be triggering stamp duty for myself... I understand a property option strategy could solve this issue, but as far as structuring this type of thing... a) I need the knowledge b) need some advice on how to actually sell this to the vendor/agent c) documents to do this??? Any pointers as to threads on this forum or a book or a lawyer that structures this type of thing or an example of someone that has done this with all details of conversations etc ...would be much appreciated
 
Ok, thanks guys!! In that case let's start with some pointers to my problem... im wanting to secure a property without paying up front for it. Renovate it and then on-sell it... but I don't want to be triggering stamp duty for myself... I understand a property option strategy could solve this issue, but as far as structuring this type of thing... a) I need the knowledge b) need some advice on how to actually sell this to the vendor/agent c) documents to do this??? Any pointers as to threads on this forum or a book or a lawyer that structures this type of thing or an example of someone that has done this with all details of conversations etc ...would be much appreciated

Do you have any idea how many people have tried this and got severely burned ? The answer is lots !

The authorities have been pursuing these spruikers for years, a bloke called Henry Kaye used to use similar impressive words and he ended up in Gaol.

The average punter who visits us is way out of their depth when attempting sophisticated strategies in any market except a rapidly rising one. When in fact, a simple buy and hold, with a reno if desired, will still achieve good results without the risk of losing a lot more than you ever intended.

I would agree that we are a conservative bunch but we are only trying to help, and I for one, would feel unhappy if we did not warn newbies about the many property scammers that have resurfaced under a different name after being warned by the authorities for their past business practises.
 
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Hi Plusnq, those links talk about a Henry Kaye. What's the link with Sean s.?

The link is in the method used, the more leverage that is used in any deal, the higher the risk is.

Investment Rule 101: Risk = Reward, if one is high then so is the other

Whenever the market is on the boil all these types of schemes come back to the surface, last time it only took ONE interest rise and the market stopped dead. All of the properties that you intended to flip or sell could become yours to meet the repayments on, hello bankruptcy court and you are stuffed for a long time.

I am not saying don't do this, I am saying be very, very careful and have a cash buffer just in case the RBA talk tough.
 
Ok, thanks guys!! In that case let's start with some pointers to my problem... im wanting to secure a property without paying up front for it. Renovate it and then on-sell it... but I don't want to be triggering stamp duty for myself... I understand a property option strategy could solve this issue, but as far as structuring this type of thing... a) I need the knowledge b) need some advice on how to actually sell this to the vendor/agent c) documents to do this??? Any pointers as to threads on this forum or a book or a lawyer that structures this type of thing or an example of someone that has done this with all details of conversations etc ...would be much appreciated

Step 1. take a cold shower.
Step 2. have someone slap you in the face
Step 3. Put the money you were going to spend on the reno into a term deposit
Step 4. You were going to borrow this money on your credit card???
Step 5. Cut up said credit card
Step 6. either; a) start buying lotto tickets regularly or b) set up a savings pattern and research investment for at least 6 months before purchasing anything.
 
CALM DOWN.

Okay, so everyone on this forum truly has your best interest at heart.

These strategies are possible and they DO work. They are however, very sophisticated and not for the faint of heart.

Look around the threads here and on other well known property forums. A few members on this forum have done them. Recently spoke with one who flipped an option and made a bit of $$$ on it.

I believe you will find if you talk to them:

a) they don't recommend it;
b) they did it well into their investment career;
c) they had a large cash buffer behind them;
d) they will tell you they have made a lot more from a simple buy and hold than any fancy named strategy.

The people who make the real money from such strategies, are the ones who sold you the 'how to' package.
 
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