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  1. #1
    Join Date
    Aug 2003
    Posts
    7,667

    Default 48 percent of Pters are equity Millionaires

    Whitt and Revdev worked it out that 48 % of Pters are millionaires and so it got me thinking about what Michael Yardney's article on 'Behind a Millionaire is a Great Team'

    In his article he says:


    As a property investor your Wealth Team should consist of the following key players:

    ·A property savvy accountant

    ·A smart finance expert

    ·A property investment strategist

    ·A solicitor

    ·A mentor or a mastermind group
    How many of our 48 percent have all these experts in their team? Umm you don't need to be in the 48 percent to reply.

    Cheers,

    Donna
    Last edited by donna; 18-10-2007 at 04:06 PM.
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  2. #2
    Join Date
    Nov 2006
    Location
    Christchurch
    Posts
    319

    Default

    Isn't that article more of a shameless plug to get more people to go to their seminars?

    "One place to start may be at a series of property seminars sponsored by Property Update"

  3. #3
    Join Date
    Aug 2003
    Posts
    7,667

    Default

    Quote Originally Posted by srv View Post
    Isn't that article more of a shameless plug to get more people to go to their seminars?

    "One place to start may be at a series of property seminars sponsored by Property Update"
    yes agreed that would be the underlying motivation for writing the article however I was wondering if anyone had these experts in their 'power team' - it's not unrealistic and may account for some property investors achieving more as a result.

    We don't have a 'property investment strategist' however we are in the throes of getting a wealth consultant (could also be known as a financial planner).

    Cheers,

    Donna
    PropertyTalk Blog - property articles

    BusinessBlogs - the best business articles are found here



  4. #4
    Join Date
    Nov 2006
    Location
    Christchurch
    Posts
    319

    Default

    Quote Originally Posted by donna View Post
    We don't have a 'property investment strategist'
    That's you

  5. #5
    Join Date
    Nov 2005
    Posts
    3,286

    Default

    Hello Donna,

    I believe I am one of the 48 % minority you refer to.

    In answer to your question…

    How many of our 48 percent have all these experts in their team? Umm you don't need to be in the 48 percent to reply

    …this is my honest answer:

    As a property investor your Wealth Team should consist of the following key players:

    ·A property savvy accountant


    Never until after I became one of the 48% ers, and even now I would not include him as particularly property savvy, just a good accountant.

    ·A smart finance expert


    Never

    ·A property investment strategist


    Nobody, except myself perhaps and a book I bought from Whittcauls for under $20, (or was it under $15?).

    ·A solicitor


    I have gone through several over time and have generally found them to be of average to low quality. I have commented on my opinion of the legal profession before.

    ·A mentor or a mastermind group


    Never.

    …………………….


    I only wish somebody would pay me $2,999.00 for the above advice but alas, no. Too many people feel the inescapable urge to spend a weekend at a city centre hotel, be drip fed coffee and nibbles, learn how to chant, and all for the thrill of walking away with stars in their eyes and a depleted bank balance.

    But you know me by now of course, nothing but a miserable old bugger.

    xris

  6. #6
    Join Date
    Sep 2004
    Location
    Central Otago, ChCh, AKL
    Posts
    2,443

    Default

    Anybody know a property investment strategist ???

    Hadar
    New Zealand's #1 Marketplace for Property Investors & Sellers!
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  7. #7
    Join Date
    Aug 2003
    Posts
    7,667

    Default

    SRV said it is us - we're the property investment strategist.

    Cheers,

    Donna
    PropertyTalk Blog - property articles

    BusinessBlogs - the best business articles are found here



  8. #8
    Join Date
    May 2004
    Posts
    2,829

    Default

    Umm, I have a solicitor.

    I do keep it all simple though - no trusts for example.

    Never been on a property course either.

    PS Doing quite nicely thank you.
    PPS My will is about half a page long.

  9. #9
    Join Date
    Feb 2007
    Location
    Auckland
    Posts
    184

    Default had a financial planner once

    and their advise ended up costing me.. so never again.

    I would suggest that a good % of landlords need a good property manager as many do not know what they are doing when it come to managing their property ,they don't know the RTA, and they don't treat it as a business


  10. #10
    Join Date
    Jan 2005
    Location
    Auckland
    Posts
    1,530

    Default

    xris is on to a winning formula. It's called common sense and it can save a bundle.
    Julian
    Gimme $20k. You will receive some well packaged generic advice that will put you on the road to riches beyond your wildest dreams ...yeah right!


 

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