The power of "get rich quick seminar" by Henry Kaye
- Thread starter ToGetProperty
- Start date
I heard a similar storey from a client last week.
Next week he is settling on 2 apartments he bought off the plan through HK 2 - 3 years ago . Both were valued at $20 - $30,000 less than he paid for them years ago.
Also he has given them to Metropole Property Management to manage and the rents he can expect are considerabley less than he planned.
I haven't seen the apartments but I am told they are well built and nicely finished, but there will be 50 or so to lease at the one time, meaning there will be some owners with long vacancy periods.
Fortunately this client has considerable assets and will be able to settle the purchases
Next week he is settling on 2 apartments he bought off the plan through HK 2 - 3 years ago . Both were valued at $20 - $30,000 less than he paid for them years ago.
Also he has given them to Metropole Property Management to manage and the rents he can expect are considerabley less than he planned.
I haven't seen the apartments but I am told they are well built and nicely finished, but there will be 50 or so to lease at the one time, meaning there will be some owners with long vacancy periods.
Fortunately this client has considerable assets and will be able to settle the purchases
Chicken Come home to Roost
The story in the SMH is very real and sad.
There are and will be many more big chickens coming home to roost.
This has happened (is happening) after (and in) one of the strongest growth periods we've had in real estate.
Just imagine if the Property market had stalled or come back !!
The public needs more 'victims' to come forward with their stories and experiences to :- ASIC, the newspapers, current affairs programs and the this forum.
People are still flocking to these Seminars and signing up (paying up to $16,000).
Henry K. has promised to 'clean up his act'. That means they will get smarter, and find other loop holes to 'legally' rip off more inexperiences 'would be' investors. They will probably attempt to have one of their firms recognized by ASIC as 'licenced investment advisors' which will mean they have to come under the watchful eye of ASIC. (Great marketing tool !)
This will most likely be a nice and very well tailored expensive woollen jacket. The wolf will still reside within.
SW
The story in the SMH is very real and sad.
There are and will be many more big chickens coming home to roost.
This has happened (is happening) after (and in) one of the strongest growth periods we've had in real estate.
Just imagine if the Property market had stalled or come back !!
The public needs more 'victims' to come forward with their stories and experiences to :- ASIC, the newspapers, current affairs programs and the this forum.
People are still flocking to these Seminars and signing up (paying up to $16,000).
Henry K. has promised to 'clean up his act'. That means they will get smarter, and find other loop holes to 'legally' rip off more inexperiences 'would be' investors. They will probably attempt to have one of their firms recognized by ASIC as 'licenced investment advisors' which will mean they have to come under the watchful eye of ASIC. (Great marketing tool !)
This will most likely be a nice and very well tailored expensive woollen jacket. The wolf will still reside within.
SW
