A lot of slamming occurs on this forum, not as much as a few years ago when I could not be bothered posting, or reading all the crap.
I am not going to defend Sean, and as per my original post I got less from Sean's seminar than any other I have ever been to. All carrot dangling, where as at least with some other presenters you walk away with either a good wif of the carrot or a good nibble of it - at least you know its real and not plastic. I have got Sean's free ebooks in the past, don't think there was much in it other than promoting - like many peoples free ebooks which sometimes are only a few pages, hardly a book. But I could be wrong, it was a while back.
Sean's posts have been self promoting (to a lot of us) BUT he has opened up and given an example. This is a good strategy, not easy to find but certainly do-able. It should not be laughed at by those who have not heard this before. I think I first heard of this strategy through either Rick or Dymphna and it appealed to me for some of the reasons Sean has pointed out. I Looked into it and came up with my own tweaked version which might be easier to find properties suitable.
As one of the names Sean dropped earlier, Tony Cordato does a lot of the legal work/contracts/JV's etc for many of the people who use these not so norm strategies such as Lofty on this forum (Vendor Finance) and Rick Otten just to name a couple. Google him and you will find his two websites, great info within and you can subscribe to his informative newsletter on rental issues from a legal point. I emailed him to ask some questions about the above strategy and legal issues and he sent me a copy of a basic heads of agreement covering it! Now that is giving, not many lawyers will do that for free. (BTW, Terry W is good with his time on this forum and giving )
So Sean, a little less promoting and a bit more giving would make people less skeptical of your reason in joining, and welcome you as a contributing and appreciated member .......and you might even get some business out of it.
As for this type of strategy and others, Ricks book "How To Buy Houses For $1", 207 pages, is good reading considering he GIVES THEM AWAY FOR FREE at his seminars, and probably worth buying for someone who wants the details on paper clearly explained (better than quickly run through at his seminars or on DVD's). There are sections from Tony Cordato in it, a good read.
Who cares if you pay tax on earnings - you are making money! I would rather have 60% of something than 100% of nothing. People forget this point. The problem solved was probably that the vendor wanted too much in its condition and although you would not agree to normally buy it for the price paid, when you take into account no money up front (other than possibly reno costs - which could also be deferred, or partially put on credit card) no holding costs etc etc etc, you are using someone else property to make money - basically OPM. It's similar to early access to do a reno and flip - without buying the house From the figures provided it is not clear if the profit was split 50/50 with vendor, seems to be some money missing.
P.S. Balance of profit, just remembered, it was JV with Sean.
Yes, so a little less slamming, keep it to an elbow in the ribs
BTW, free access to the list of distressed properties, all the foreclosures by banks that they are sitting for fear of flooding the market (probably a lot less now that the market has started to move) as you have mentioned at your seminar, would be appreciated, but I won't hold my breath
I am not going to defend Sean, and as per my original post I got less from Sean's seminar than any other I have ever been to. All carrot dangling, where as at least with some other presenters you walk away with either a good wif of the carrot or a good nibble of it - at least you know its real and not plastic. I have got Sean's free ebooks in the past, don't think there was much in it other than promoting - like many peoples free ebooks which sometimes are only a few pages, hardly a book. But I could be wrong, it was a while back.
Sean's posts have been self promoting (to a lot of us) BUT he has opened up and given an example. This is a good strategy, not easy to find but certainly do-able. It should not be laughed at by those who have not heard this before. I think I first heard of this strategy through either Rick or Dymphna and it appealed to me for some of the reasons Sean has pointed out. I Looked into it and came up with my own tweaked version which might be easier to find properties suitable.
As one of the names Sean dropped earlier, Tony Cordato does a lot of the legal work/contracts/JV's etc for many of the people who use these not so norm strategies such as Lofty on this forum (Vendor Finance) and Rick Otten just to name a couple. Google him and you will find his two websites, great info within and you can subscribe to his informative newsletter on rental issues from a legal point. I emailed him to ask some questions about the above strategy and legal issues and he sent me a copy of a basic heads of agreement covering it! Now that is giving, not many lawyers will do that for free. (BTW, Terry W is good with his time on this forum and giving )
So Sean, a little less promoting and a bit more giving would make people less skeptical of your reason in joining, and welcome you as a contributing and appreciated member .......and you might even get some business out of it.
As for this type of strategy and others, Ricks book "How To Buy Houses For $1", 207 pages, is good reading considering he GIVES THEM AWAY FOR FREE at his seminars, and probably worth buying for someone who wants the details on paper clearly explained (better than quickly run through at his seminars or on DVD's). There are sections from Tony Cordato in it, a good read.
Sounds all so simple to someone just starting out,i would be very interested to know what the problem was that "Jeanne" sorted out
but just one simple question depending on the legal set up how much was left of the 60k after everyone from the ATO all the way down the food chain ?..
Who cares if you pay tax on earnings - you are making money! I would rather have 60% of something than 100% of nothing. People forget this point. The problem solved was probably that the vendor wanted too much in its condition and although you would not agree to normally buy it for the price paid, when you take into account no money up front (other than possibly reno costs - which could also be deferred, or partially put on credit card) no holding costs etc etc etc, you are using someone else property to make money - basically OPM. It's similar to early access to do a reno and flip - without buying the house From the figures provided it is not clear if the profit was split 50/50 with vendor, seems to be some money missing.
P.S. Balance of profit, just remembered, it was JV with Sean.
No matter what, the guy is trying, just like the rest of us
Yes, so a little less slamming, keep it to an elbow in the ribs
BTW, free access to the list of distressed properties, all the foreclosures by banks that they are sitting for fear of flooding the market (probably a lot less now that the market has started to move) as you have mentioned at your seminar, would be appreciated, but I won't hold my breath
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