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Property Tutors - Worth doing?
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That's not particularly straight forward math and a good question. You would save a very small amount on interest expenses over the year by paying P and I. If you can earn more than 5% investing the principle portion elsewhere, and property 'flickers' would all say they could i.e spend $1 on reno to add $2 of value, then sure don't pay any principle, put every spare cent into reno. But generally if you're incomes big enough no issue paying down debt, you can't expect to beat 5% p.a gains on every cent u earn, may as well put a small amount to work effectively earning 5% by saving on interest, even if its a claimable expense, getting 30% back still means you lose 70%.Last edited by marklowes; 25-05-2015, 07:33 PM.
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Originally posted by marklowes View PostThat's not particularly straight forward math and a good question. You would save a very small amount on interest expenses over the year by paying P and I. If you can earn more than 5% investing the principle portion elsewhere, and property 'flickers' would all say they could i.e spend $1 on reno to add $2 of value, then sure don't pay any principle, put every spare cent into reno. But generally if you're incomes big enough no issue paying down debt, you can't expect to beat 5% p.a gains on every cent u earn, may as well put a small amount to work effectively earning 5% by saving on interest, even if its a claimable expense, getting 30% back still means you lose 70%.
That client went on and ask my broker for an excel spreadsheet to list all the differences for the next 30 years (most bankers can't even tell how their interest and principal repayments are calculated!).
My broker was very 'happy' to hear that request LMAO!
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It seems like both the client and the broker are banned in Google?
There are a plenty of repayments spreadsheets in Internet, they show exactly what will be your repayments for the next 30 years, so it should be straightforward to tell exactly what will be the difference in any month/year/etc.
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Originally posted by ivanp View PostIt seems like both the client and the broker are banned in Google?
There are a plenty of repayments spreadsheets in Internet, they show exactly what will be your repayments for the next 30 years, so it should be straightforward to tell exactly what will be the difference in any month/year/etc.
The client? well he/she needs a 'parent' like I said lol!
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Originally posted by Gary Lin View PostThat client went on and ask my broker for an excel spreadsheet to list all the differences for the next 30 years (most bankers can't even tell how their interest and principal repayments are calculated!).
My broker was very 'happy' to hear that request LMAO!
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Originally posted by elguapo View PostYou know there is a standard template for this in excel don't you?
I think that's more of the interest of the banking ombudsman's job to have a spreadsheet like that, to make sure the bank doesn't over charge interest.
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Originally posted by drelly View PostDid no one see Property Tutors on the news? Unbelievable! It was basically a free advert for them!
Hi Drelly my sister lives in Onerahi.
Do you know of a designer / colorist up that way, who could help her with colors and some design stuff for her house, she is a bit lacking in idea's.
Just on the off chance
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Originally posted by ivanp View PostI very much doubt if there are any people paying $30k and doing nothing after that.
Yeah there is a lot.
I know someone who left the group after 1 to 2 years.
And someone who is in their now, after 2.
Plus I have been to 2 of the weekend shows over the past 5 years.
And i have read their books and watched their DVD's going back to Richmastery.
There is a huge amount to learn from them.
For a new person, yes, very helpful, especially if they are financed with ducks in a row, and ready to act - mentally.
I have heard that 1/20 do well out of the course and the others fall by the way side.
I was told by one ex student that I am advanced enough that I dont need to do it.
But I thought If I have a spare 30k + GST, I might do it for fun and learning.
Hang out with Sean
I might try and bargain him down to 10k
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Hi , i have been talking with a lady called Fiona Camberun, she had an article in a recent property investment magazine, i am thinking of doing mentoring with her as she has done lots of great training and seems to be successful at what she does. However i can not recommend her yet as have not commenced mentoring. You may want to look her up though?Last edited by donna; 17-08-2015, 02:24 PM.two ears and just one mouth.. for good reason.
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Originally posted by princess View PostHi, i have been talking with a lady called Fiona Camberun, she had an article in a recent property investment magazine, i am thinking of doing mentoring with her as she has done lots of great training and seems to be successful at what she does. However i can not recommend her yet as have not commenced mentoring. You may want to look her up though?
She lives by Wellington, how do you see this working for you?
I think having a mentor by your side looking at deals would be bestLast edited by donna; 17-08-2015, 02:19 PM.
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Propety tutors - is it worth doing
Hi all
My partner and I are wanting to get into property trading. We went along to the property masters event.
What do people think of the course?
Is it worth doing?
I get the impression people just do what sean says but not sure if they are learning for themselves, i could be wrong here?
Any thoughts would be muchly appreciatedLast edited by donna; 17-08-2015, 02:19 PM.
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Originally posted by Damap View PostWhich is exactly what you have to do if you want to find good deals anyway. Work hard and work fast!
That was after reading all the books I could and pontificating from about 2003 to 2008
Then watching Rons, Sean Woods, and a few others.
I would certainly get a good education and grounding in basic property principles before doing property tutors, if you were going to do it.
Step 2, is getting all your finance and structure ducks lined up.
Quick trip to GRA to show where you are at, and where you want to be, and how you are going to get there.
And you will need to pay 5k or more to get set up and protected.
Property Tutors looks like a bit of a farm, but for some people property would not work for them, unless they had someone to hold their hand and show them what to do.
Get out once you know what your doing, and thats what seems to be happening.
BUT,
For something left field, get Marin Ayles DVD series.
Sorry thats where I was heading with the post.
You have to get your mental ducks in your head lined up and marching.
Reading to take action, or nothing will happen.Last edited by Bluekiwi; 04-06-2015, 08:33 AM.
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