What makes for a good PI educator?

[Perry]

Aaahhhh, the wisdom of hindsight.
How many here don't know of it?

[tpr2]

I'm very accurate and fantastic in hindsight Perry, lol.

This does remind me of an old friend who tell's every body she is psychic however she only ever tells about stuff after it has occured.

For example, I lose my keys and she says "I knew that was going to happen but I didn't tell you because it may have influenced what you did"

So I say "well look into the future and tell me where I found them!"

[Stevegoodey]

wow spooky.

[tpr2]

lol..... she has never been able to look into the future and tell where I found them though Steve.... very poor performance.lol

[Don and Liz]

Also strangely enough perhaps I don't make extravagant enough claims because I'm not run off my feet with it....lol.

Lol - Terry you have to offer rock hard abs in 6 mins or the Property Investment equivalent.

It would be entirely misdirected energy but it would be an interesting experiment to see just how outrageous a claim you could make about the benefits of a pi seminar without anyone calling you to account...

and is there a direct relationship to the level of outrageousness and attendance at a seminar.

[tpr2]

I know you are right there guys, we used to run packed seminars many years ago but I didn't like doing the talking and so when my business partner and I went our different ways my days of running seminars was over..... I wasn't that sad though, it was a pain in the buttocks.

Have you seen something about Mary? Theres a bit in that movie about rock hard abs in 6 minutes.....lol

[Monid]

Lol - Terry you have to offer rock hard abs in 6 mins or the Property Investment equivalent.

It would be entirely misdirected energy but it would be an interesting experiment to see just how outrageous a claim you could make about the benefits of a pi seminar without anyone calling you to account...

and is there a direct relationship to the level of outrageousness and attendance at a seminar.

I've never done the research to back this up but my intuition is that there is something weird in terms of willingness of people to believe. I think people generally believe credible claims:
"You can make money from investing in property"
They are more skeptical about slightly less credible claims:
"you can retire from investing in property"
But then more willing to accept outrageous claims:
"You will by following my system retire next year"

I think we have a thought process that goes something like "that is so unbelievable that they wouldn't dare say it if it wasn't true..."

Funny things humans.
Cheers
David

[Don and Liz]

elephant in the parlor

Yes and the other thing that is so funny is the elephat in the parlor.

The entire wealth creation industry ignores the obvious truth. If the systems that they promote worked the way they say then noone in their right mind would spend any time teaching people how to do it.

Here is the start of a list of reasons why. Perhaps others may have some more reasons to add to the list.


1) The owner of the technology would be so wealthy ie in the deca millionaire ranks and would not need to run a class. eg. Got a free dvd on the front of a magazine and saw a guy teaching a class about how easy it is to get mega rich trading share options. You could buy his course for 10k plus ongoing fees. I googled it and found dozens upon dozens of different providers teaching the same material. Why not just trade. Property is the same.

2) Those who can't do teach and those who can't teach, teach gym.


3) Property experts always turn up in Ferrari's but I have never seen one in a credible "rich list" ie forbes or BRW etc.


Okay so it is a bit of a fun list but there must be a few others.

[Perry]

Wasn't it one of RK's axioms; that when some
one rushes up saying, "you should buy some of
these because . . . . "

Your first question should be: "How many did you buy?"

[Commercial Dan]

Don't invest in these foolish seminars, they are usually run by former bankrupts or guys who need the money. Just go to your local property investor's association, talk to the experienced guys who own 100s of properties and have done for 40+ years. They will give you all of the info you need, for nothing!

[Commercial Dan]

What makes a good property eduucator? Integrity, that's what.

Below is Mr Letfus’s liquidators report of November last winding his seminar company up ( but which is still advertising-how is that possible?).
It’s 5 months since that report and nothing seems to have happened despite the liquidator seeking “urgent information”

Reynolds & Associates Ltd.

I n s o l v e n c y P r a c t i t i o n e r s

9

th November 2011

Liquidators First Report on the Statement of Affairs of Massive Action Limited (InLiquidation), “the trustee”Registration Number: 1950845

The trustee was placed into liquidation on the 4

th November 2011. Grant Bruce Reynoldswas appointed Liquidator under section 241 (2) (a) of The Companies Act 1993.

Company DetailsDate of Incorporation

: 18th June 2007

Directors:

Dean Nicholas LEFTUS

Shareholders:

Dean Nicholas LEFTUS and Vallant Hooker trustees Limited

Secured Creditors (As registered on the PPSR):

N/A

Number of Shares:

100

History & Events that Precipitated the Liquidation

The trustee was incorporated in June 2007and was the corporate trustee for the Massive ActionTrust. The trust was specifically established to provide property education and seminars.Due to changes in legislation the trustee was unable to continue operating and stopped trading atthat time. The Trustee retired pre liquidation.As the trust has no assets and liabilities that it was unable to pay the shareholders placed thetrustee into liquidation.

Statement of Affairs

A statement of affairs is attached. The records for the Trust and Trustee are still being gatheredand the statement of affairs is incomplete as a result.The financial accounts for the period ending 31

st March 2011 indicate that the trust has noncurrent assets of $43,000 and non current liabilities of $85,000. The non current assets arecompromised mainly of goodwill.The Director has explained that the company has no current assets.

Creditor ClaimsPersonal Properties Securities Act/ Reservation of Title

Should any creditor believe that they have registered security over any goods or proceeds fromthe realisation of the goods they should contact this office immediately.

Phone: 09 526 0743 PO Box 259-059 Email: [email protected]: 09 526 0748 Auckland, New Zealand

Proposal for Conducting the Liquidation

I have yet to receive all of the records for the trustee, but have requested that these be providedwith utmost urgency.I have also complied with my statutory obligations with respect to advertising and notifying theRegister of Companies.I also intend to investigate the actions of the Officers of the Company and in particular anybreaches under the Companies act 1993 or relevant law along with any recent transactions thatmay be insolvent.

Prospect of a Dividend

It is unlikely that there will be a dividend paid to unsecured creditors.

Creditors Meeting

The Liquidator can exercise the right to refrain from calling a meeting, if after a reasonableassessment of the economics affairs of the company, it is determined that the likely realization ofthe assets of the company, less an accounting for the likely costs and fees of the Office of theLiquidator and other preferential creditors as prescribed in the Seventh Schedule of theCompanies Act 1993, would result in a dividend, were to be paid, less than 20 cents for every 100cents owed to the unsecured creditors.With the above in mind and with a view to saving unnecessary costs, I advise that it is not myintention to call a meeting of the creditors.However, under The Companies Act 1993 any creditor may call a meeting, provided that thecreditor makes demand upon the Liquidator within 10 days of receipt of this notice not to call ameeting.

Estimated Date of Completion

It is not practical at this stage to estimate the time of completion for this liquidation.If unsecured creditors have not yet completed the “Unsecured Creditors Claim Form” and filedthat with any supporting documentation with the Liquidator, they must do so as soon as possible.Grant Bruce ReynoldsLiquidator

Phone: 09 526 0743 PO Box 259-059 Email: [email protected]: 09 526 0748 Auckland, New Zealand

Massive Action Limited

(In Liquidation)

Statement of Affairs of the above company as at the 4

th November 29th July 2011 showing theassets at estimated realisable values and liabilities expected to rank.

(A) ASSETS SPECIFICALLY PLEDGED(ESTIMATED)BOOKVALUESECURITYINTERESTESTIMAT EDTO REALISEESTIMATED ASSETS AVAIALBLE TOUNSECURED CREDITORSTBA(B) ASSETS NOT SPECIFICALLY PLEDGED BOOKVALUEESTIMATEDTO REALISEESTIMATED ASSETS AVAIALBLE TBA(C) LESS PREFERENTIAL CREDITORS

Wages – Employee Entitlements

TBA

GST

TBA(D)ESTIMATED ASSETS AVAIALABLE TO UNSECUREDCREDITORSLESS UNSECURED CREDITORS

Trade CreditorsOther Creditors

(E) (E= B-(C+D)) ESTIMATED DEFICIT (SUBJECTTOCOSTS OF LIQUIDATION)TBA

Disclaimer of LiabilityThe Liquidators have prepared the Estimated Statement of Affairs as at the date of Liquidation being 4

th November2011The estimated statement of affairs has been prepared based on information from the books and records of the company.This information has not been verified. The Liquidators have not carried out an audit or reviewed the informationsupplied and therefore do not accept any responsibility for the accuracy of the information from which the estimatedstatement of affairs has been prepared and that the estimated statement of affairs has been prepared for the purposes ofthis liquidation only.

Phone: 09 526 0743 PO Box 259-059 Email: [email protected]: 09 526 0748 Auckland, New Zealand

Massive Action Limited

(In Liquidation)List of Creditors

Inland Revenue PO Box 1535 HamiltonGilligan Rowe & Ass PO Box 9918 Newmarket AucklandWestpac BankingCorporationPO Box 7740 Wellesley Street Auckland

Julie Anne Gordon 1410 Ngunguru

[Commercial Dan]

Also note liquidators comment:
I also intend to investigate the actions of the Officers of the Company and in particular
any breaches under the Companies act 1993 or relevant law along with any recent
transactions that may be insolvent

[joesanga]

Does anyone know anything about the quality of education/support offered by the following three property coaching/mentoring companies please?

1) AssetLab
2) Wealth Ladder
3) Diamond Property Group

Many thanks in advance.

[Nick G]

I know #2 very well and will vouch for them, very, very smart and successful people. #1 are rated by people I respect and the high level run down I got sounded good, I think they set up recently after property tutors split. Don’t know #3. Happy to chat. Have worked with a mentor so I can run you through what I looked for and how I got benefit. Am on my mobile so forgive me for not going into a lot of detail. Cheers