Property Investment Seminars - which one's are real and which one's are scams?

[muave]

here's something else i'd like some opinions on. does anyone know Olly Newland, and if so, your thoughts?

[arcticblue]

Olly has articles on www.interest.co.nz every now and again. The comments posted don't reflect too kindly on his opinions but that may just be the people who frequent that site. Probably worthwhile having a read through a few of his articles and some of the responses.

[CJ]

here's something else i'd like some opinions on. does anyone know Olly Newland, and if so, your thoughts?

Olly is a developer that went belly up in the 80's. Predicted the bubble would burst in the early 00's, then claimed because of his book, the bubble didn't bubble so didn't have to burst, but then didn't predict the burst in 2007.

kerian trass has a good book - property clock or something like that. Looks at a number of mirco features that indicate when the market is going up, down or turning.

Propertytalk.co.nz is also a similar forum to this (active and not selling anything) but focussed on property.

[skid]

yep property talk is a good one for unbiased info[exept for the odd ego getting in the way]
Its worth noting that Tass has apparently gone belly up as well but I dont know all the details.
It doesnt mean his info is not beneficial,but i think the strategy of collecting lots of properties with heaps of debt is a dangerous one ATM. Thats how most of the high flyers have gotten rich and then gone broke.

[fungus pudding]

I'm continually trying to educate myself in the property market by attending seminars, reading books, audio CD's etc. It seems that half of the things available are either get rich schemes or people talking themselves up to make a living out of it. How hard can it be to find someone who has written a genuine book relaying genuine (and relative to nz) methods, guides & strategies????

It's about attitude. 'Jones on property' is the bible, and the only property book I've ever learnt anything from. Property books are a little like horse racing programs. If you knew the winnersl, or the method of picking them, you wouldn't sell at any price. The most important lesson you will ever learn, and Jones preaches it, is to get out of residential property and into commercial at the first opportunity.

[skid]

Ive known people who have done really well with commercial ,but Boyoboy there are some who are getting a hydeing ATM from commercial properties sitting empty for long periods.
You really have to know your stuff,especially in these times with businesses going down.
For those just starting out with property its pretty high risk. A mentor would be invaluable if you had an experienced friend etc.

[Sideshow Bob]

The name of Kieran Trass rang a bell.

http://www.odt.co.nz/news/dunedin/18...guru-protester

[fungus pudding]

Fact: No one ever got rich buying residential property. And any seminar that is trying to sell you residential property is a scam. You get rich by being (a) a property developer, or (b) buying and leasing commercial property.

Fact: A lot of people get very poor by buying residential property. I heard the other day about a friend of a friend in Queensland who has lost both her investment property and her home, after losing her job as a real estate agent and not being able to make the mortgage payments. Both properties were sold for less than she paid, and she now owes the bank $170k that she will have to pay off for the rest of her life.

Some people have certainly got rich through residential property, although they may be few and far between.

[stanace]

Some people have certainly got rich through residential property, although they may be few and far between.

Come on guys, I know this is ShareTrader, but property investment is certainly a way if not to get rich, to get comfortable, and retire with cash flow.
Yes many have gone the other way, but there is a difference between greed, and making a quick buck, and looking to the future, and investing wisely, ie buying at a good price, positively geared property, at the beginning of a property cycle.
Right now it is comparitively easy to purchase positively geared property in Central Auckland. Whether it will produce capital gain is moot, but as long as rents keep up with inflation, and mortgage rates remain at reasonable levels, the capital gain should not matter, after all, it is cash flow you need when you retire.

[fungus pudding]

Come on guys, I know this is ShareTrader, but property investment is certainly a way if not to get rich, to get comfortable, and retire with cash flow.
Yes many have gone the other way, but there is a difference between greed, and making a quick buck, and looking to the future, and investing wisely, ie buying at a good price, positively geared property, at the beginning of a property cycle.
Right now it is comparitively easy to purchase positively geared property in Central Auckland. Whether it will produce capital gain is moot, but as long as rents keep up with inflation, and mortgage rates remain at reasonable levels, the capital gain should not matter, after all, it is cash flow you need when you retire.

I agree 100% the goal should be to build income, yet I know several residential landlords who own large numbers of res. properties, which in itself becomes a job, that you do yourself, maintaining and administering them, or pay someone to do it for you (usually an agent and usually disatrous), yet these investors still need a normal job to provide a living. As a full time prop. investor I dumped residential stuff decades ago. It's good to have a dabble in, but anyone serious about making a living as a prop. investor should find their way into commercial/industrial as soon as possible. I'll stick with my first comment - those who have got rich, or just financially independant, through residential are few and far between. But certainly there are lots who have made some money - or supplemented their income.