The Answer For TW - HK!

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From: Funky Whuff


Hi all,
Haven't been on for a few days, working too hard as always, can't wait to retire from the rat race! :) TW, I noticed a few pages down you were asking about HK's theory... I haven't done the full three day (plus two single days) course, but I signed up for it, went to the introductory lecture and first full day, but pulled out. I figured I could get most of the info myself without paying 16k... basically, his strategy boils down to one theme - maximisation - maximise every aspect of your property (gearing, adding value, rental etc).
This is to be done via the following steps:
1. Research, research, research (research your area thorougly, buy properties you know you could sell for more the next week - i.e. similar properties selling for more)
2. Buy off the plan in some cases - otherwise, get a long settlement, before settlement, revalue the property to obtain 100% finance (after securing with deposit bond).... ie if you buy at 200k, 12 month settlement, at settlement worth 300k obtain finance for 80% of 300k (240k - covers settlement at 200k plus costs...) - of course, you have to service larger loan!! Other ways to get 100% finance, ie rent to buy, vendor finance... To get finance, HK recommends and teaches a very detailed business plan... act like a professional to get lent the money professionals get lent...
3. Why will property go from 200-300k in one year?? because you have Maximised (he has a series of points to choose a maximised property)... ie. unique feature/location/etc.
very detailed. and you know how to revalue
3. Buy wholesale... offer lower than you need to... much lower.. offer on several different properties, ask for a lower price if you pay the vendors interest etc etc etc... really do your research to knock prices down...
4. Add value... we all know about this one
5. Maximise rental and market the property yourself (rent fully furnished to get max returns and max tax deductions... use quantity surveyors etc)...
6. Obtain long leases....
7. Insure insure insure everything (i.e fix interest rates, landlords insurance...etc).
8. Pay dollars for self-education and quality professionals (ie. lawyers, accountants etc - and only get professionals who know the RE IP game and have properties/expertise....
9. Revalue the properties periodically, refinance and the difference is yours tax-free...... (as long as you can service the higher loan...)...

So that's the strategy in a nutshell (literally) - he stresses proper wealth psychology and a 'can do' attitude, because as someone mentioned earlier - it's not the info that makes you do it - it's getting off your butt and doing it... hence why i pulled out... a unique strategy... HK is very clever, just not for me at the start of my IP career - i never knew how the bank would settle all the loans for all my potential off the plan properties... still, i guess i didn't do the course...!! :)
Hope this was helpful... and this btw, wasn't the info from the mastery course, where he went into it in more detail...
Funky...



Q. Why aren't physios good in bed?
A. Because they normally get the swelling to go down...
 
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Reply: 1
From: The Wife


Funky, Thankyou very much ! :eek:)

TW
~Life is a daring adventure, or nothing at all~
 
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Reply: 1.1
From: Funky Whuff


TW, You're most very welcome! :)
Funky

Q. Why aren't physios good in bed?
A. Because they normally get the swelling to go down...
 
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Reply: 2
From: Anonymous


Question for Funky-

I am enrolled to do the HK course. Can I ask: a) Is it clear during the course when exactly you can pull out and get the refund? b)Did you get much pressure not to pull out? and c)Any problems getting your money back?

Thanks-sorry about the anonymous post but you can't be too careful-don't need any more pressure from the HK sales team (or this this being a bit paranoid?).
 
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Reply: 2.1
From: Funky Whuff


Hi Anon,

In answer to your question... yes it is made very clear when you can pull out and get the refund... to get the refund of your deposit or any monies paid up-front, you must attend ALL sessions of the course up until the tea break on the third day - i.e. if you decide to pull out (as I did) prior to attending all sessions up till then, you forfeit your deposit. Accordingly, if you stay after the tea break on the third day, you must pay the full price... I got a bit of pressure not to pull out, but the decider was when my consultant was convincing me with a story of a student who had six properties bought with deposit bonds, and i was wondering how he would settle six loans, and she said yes, he must be very creative.... Boom boom!! She should (having done the course) have known exactly how he would settle six loans.... so I was firm and stuck to my guns to pull out, i decided i could learn a lot of the info myself... and as already mentioned, i didn't get the deposit back... but it's open ended, so if i decide to ever do the course, i don't have to repay the deposit... hope that helps!! Don't know about being paranoid... I'm sure the HK team, if they are surfing this site won't be too happy with the first post in my stream to TW....!
Funky


Q. Why aren't physios good in bed?
A. Because they normally get the swelling to go down...
 
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Reply: 2.1.1
From: Anonymous


Thanks Funky-both for the reply to my post and the original info.
 
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Reply: 2.1.1.1
From: Anonymous


Actually, On the third day at the afternoon tea break I went to find my consultant and ask for a refund, claiming I was not satisfied with the course - my consultant in desperation actually said to me that I could stay till the end and make my decision then. He also went on to say that there were prizes to be given out on the last day - and did I want to miss out on that?
 
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Reply: 2.1.1.1.1
From: Joo Joo


anon,

there have been a lot of people finding it difficult to regain their deposit, use the search icon above and do a keyword search on HK.

hi anon,

One of my friends did the course what most of you wont know is that after the initial 20k approx, he then onsells for another course in melbourne and get this, it costs 60k!!!!!! a person, i think this is where he discusses commercial property and I think its called wrapping?, basically becoming a financial lender, i dont know, if he's still around I might do the course someday.. joo joo
 
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Reply: 2.1.1.1.1.1
From: Michael G


Wow, $60K?

Boy am I selling my services short :p

Michael G.
 
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